Jon Richard Pariser of Pacific Grove California a stockbroker formerly employed by Independent Financial Group LLC has been referenced in a customer initiated investment related arbitration claim where the customer sought $1,268,000.00 in damages founded on accusations of unsuitable promissory notes transactions which caused the customer to incur investment losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01079 (May 17, 2019).
FINRA Public Disclosure indicates that Pariser is the subject of five more customer initiated investment related disputes pertaining to allegations of his bad business practices during the period in which the stockbroker had been employed by securities broker dealers including Independent Financial Group. Specifically, a customer filed an investment related arbitration claim pertaining to Pariser’s conduct in which the customer requested $630,000.00 in damages supported by allegations that when Pariser was employed by Independent Financial Group, the customer had been sold promissory notes which were neither registered nor exempt from registration requirements, and the customer was specifically advised by Pariser to purchase them. FINRA Arbitration No. 18-02581 (July 19, 2018).
Another customer filed an investment related arbitration claim involving Pariser’s conduct in which the customer requested $137,000.00 in damages based upon allegations that when Pariser was associated with Independent Financial Group, he referred the customer to an unlicensed stockbroker who inappropriately advised the customer to surrender an annuity to purchase promissory notes. FINRA Arbitration No. 18-02753 (Aug. 17, 2018). Pariser is additionally referenced in a customer initiated investment related arbitration claim where the customer sought $2,011,000.00 in damages based upon accusations that the customer was poorly advised concerning promissory notes transactions effected during the time that Pariser was associated with Independent Financial Group, and Pariser’s activities lacked appropriate supervision from the securities broker dealer. FINRA Arbitration No. 18-03885 (Dec. 3, 2018).
FINRA Public Disclosure reveals that Pariser has been barred by from associating with any FINRA member in any capacity based upon findings of the stockbroker violated FINRA Rules 2010 and 8210 by neglecting to provide information or documentation to FINRA personnel during the time that he was under investigation. Letter of Acceptance Waiver and Consent No. 2018058207401 (Oct. 4, 2018). According to the AWC, the stockbroker potentially referred customers to investments which were not approved by the securities broker dealer and provided customers with inappropriate investment advice.
Prior securities broker dealer employer SWS Financial Services Inc. discharged Pariser founded on accusations that purchases or sales of over the counter equities had been executed on a discretionary basis without the stockbroker obtaining written permission from the customer or SWS Financial. Pariser’s registration with Independent Financial Group LLC has been terminated as of May 24, 2018.
