Walter Parker Sell You Bad REITs?

Titan Securities' Walter Parker Allegedly Sold Unsuitable Alternative Investments

Investors are filing complaints and lawsuits because of Walter Warren Parker [CRD#: 2131232, Rowlett, Texas]. Evidently, the securities broker, who worked for Titan Securities between 2006 and 2018, reports 13 investor disputes on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Supposedly, Titan Securities clients indicate that Parker breached a fiduciary duty and negligently recommended alternative investments. For more details in reference to the allegations against Parker, see below.

Walter Parker Allegedly Sells Bad Real Estate Securities To Titan Securities Client

Notably, Walter Parker’s securities recommendations or sales were contested by a client who filed a complaint dated August 21, 2019. Allegedly, Parker sold the client four real estate securities which have since stopped paying distributions. Supposedly, the real estate securities which Parker recommended or sold were unsuitable or inappropriate for the client’s situation. As a result, Titan Securities agreed to resolve the matter on September 20, 2019 through paying the client a total of $10,000.

Titan Securities Investor Suggests That Parker Breached Fiduciary Duty

Apparently, a client of Titan Securities contested Walter Parker in FINRA Arbitration #: 19-02051 filed July 24, 2019. Allegedly, Parker failed to comply with his fiduciary responsibility to the client and had breached a contract in connection with the client’s purchase of Bluerock private placements and a real estate security. Not only that, but the securities broker allegedly acted negligently and processed transactions that Titan Securities failed to oversee. Consequently, Titan Securities agreed to settle the client’s dispute on August 30, 2019 through paying the client $10,000.

Walter Parker Allegedly Deceives Titan Securities Client

Notably, on June 17, 2019, a Titan Securities client filed FINRA Arbitration #: 19-01624 about Walter Parker. Specifically, the client indicated that Parker was deceptive and acted in breach of his fiduciary duty and in breach of contract in connection with the client's investments in United Development Funding IV, Cornerstone Healthcare REIT and Life Partners. As a result, the client asked for $200,000 in compensation from Titan or Parker. Apparently, this arbitration is pending a resolution.

Client Indicates That Parker Misrepresented Direct Investments

Also, a client of Titan Securities took aim at Parker in FINRA Arbitration #: 19-00514 dated June 5, 2019. First of all, as with the case with other clients, this Statement of Claim contains allegations of breach of fiduciary duty and breach of contract. However, this client also alleges that Parker made “material misrepresentations and omissions.” It is possible that Parker did not tell the client about the risks or the lack of liquidity of direct investments. The client also alleged that Titan Securities did not supervise Parker’s recommendations or sales. Because of this, the client demanded $270,000 from Titan Securities or Parker in this ongoing investment dispute.

FINRA Suspends, Fines Walter Parker

Evidently, on April 18, 2018, FINRA issued Acceptance, Waiver and Consent #: 2016050492101 sanctioning Walter Parker. Mainly, Parker failed to comply with FINRA and NASD rules on suitability by allegedly making bad recommendations about alternative investments. Notably, FINRA indicates in the AWC that the securities broker failed to consider the client’s age, investment inexperience and risk tolerance when recommending UDF4, ARC3, ARCHT and other REITs. Parker reportedly caused the client to sustain “significant losses.”

Did Titan Securities Broker Walter Parker Sell You Bad Investments?

Have you experienced losses by investing in risky, illiquid alternative investments because of securities broker Walter Parker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to the misconduct of securities firms and brokers like Parker.