Ameriprise Clients Indicate That Broker Shawn Parker Possibly Sold Unsuitable, Misrepresented Investments
The Financial Industry Regulatory Authority (FINRA) reports troubling information regarding Ameriprise Financial Services securities broker Shawn Elizabeth Parker (CRD#: 1768234, Schaumburg, Illinois). Notably, there are seven disputes reported on the securities broker’s public record. Also, Ameriprise reportedly permitted Parker to resign in June 2020 amid allegations of her noncompliance. Let’s take a look at these investors’ disputes.
Ameriprise Client Indicates Misrepresentation In Dispute About Shawn Parker
The most recent dispute on Shawn Parker’s record comes from an Ameriprise client who alleged in December 2020 that Parker misrepresented real estate investment trusts. Supposedly, the client purchased bad real estate investment trusts (REITs) and business development companies (BDCs). Not only that, but the securities broker also purportedly forged client initials on a direct investment application. For this reason, the client asked for compensation. However, Ameriprise denied this client’s claim in January 2021.
Parker Supposedly Recommends Unsuitable Investments While At Ameriprise
Evidently, a client of Ameriprise came forward with a dispute about Shawn Parker in September 2020. Apparently, Parker recommended unsuitable BDC and REIT investments. It is possible that Parker did not take into account the client’s suitability information which consists of risk tolerance, investment objectives and other factors. Supposedly, the client expects payment of $77,000 to resolve this issue. The client’s suitability claim against Ameriprise is still ongoing.
Ameriprise Client Alleges That Parker Misrepresented Information Relating To Annuity
Notably, a second client of Ameriprise brought forth allegations of misrepresentation in a dispute about Shawn Parker. Specifically, the client complained in May 2016 that Parker sold a variable annuity that she misrepresented. However, the firm eventually denied this client’s claim.
Other Disputes About Shawn Parker Allege Breach Of Fiduciary Duty, Omissions
Particularly, an Ameriprise client filed a FINRA Arbitration Claim alleging Shawn Parker’s sales practice violations. Like more recent Ameriprise clients alleged, this client raised accusations of misrepresentation and unsuitability. However, this client also alleged that Parker breached a fiduciary duty. In addition, Parker supposedly omitted important details in connection with stock transactions. The matter also contains allegations of failure to supervise, breach of contract, and violation of conduct rules. A 2009 settlement of $25,000 is reported in this case.
Did You Experience Losses By Investing Through Parker?
FINRA BrokerCheck indicates that Shawn Parker denies any and all allegations of her sales practice violations. Have you lost money because of her? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced lawyers about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses because of their financial advisors and securities brokers.