oreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against: TITAN SECURITIES (Respondent).
The Claimant resides in Texas and maintained an investment relationship with the Respondent and their former Financial Advisor, WALTER WARREN PARKER (WALTER PARKER) CRD#: 2131232. Walter Parker, formerly of Titan Securities, is not named in this lawsuit.
The lawsuit alleges that TITAN SECURITIES and Parker solicited the Claimant to invest in a non-traded REIT known as American Realty Finance REIT (AFIN), and another speculative investment called, Bluerock. Allegedly, WALTER PARKER advised that the investments would pay out consistent income plus return of the principal within a few years. The lawsuit alleges that the TITAN SECURITIES failed to adequately advise the Claimant regarding the risk of these recommendations, and the high commissions the Respondent and Parker received for selling these investments. AFIN has quickly traded down more than 60% since going public, and Bluerock has suffered similar results.
The lawsuit alleges that the Claimant has suffered significant damages during a time when the financial markets have enjoyed record returns and that the TITAN SECURITIES’ actions in this case constitute: negligence, breach of contract, failure to supervise, negligent supervision, breach of fiduciary duty, and violation of FINRA rules. The lawsuit alleges damages of no less than $55,000.
According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, WALTER PARKER, has 13 Disclosures on his CRD report, 12 of the Disclosures are Customer Disputes. One of the Disclosures is a Regulatory initiated by FINRA resulting in a one month suspension and a fine for $7500, following allegations that, “he made investment recommendations to a customer that were not suitable given her age, risk tolerance, financial experience and liquidity.”
Parker is not currently registered as a broker. He has been in the securities industry for 26 years and was listed with 6 firms. Walter W. Parker was previously registered with:
08/01/2006 – 03/07/2018 TITAN SECURITIES – Rowlett, TX
If you’ve experienced losses due to the actions or recommendations of TITAN SECURITIES of Rowlett, Texas, and/or their former broker, Walter Parker, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents our clients nationally before FINRA on a contingency fee basis—no fee if no recovery.