Tom Gilliam Parks Jr. of Stephenville Texas is a stockbroker formerly registered with Ameriprise Financial Services Inc. who is the subject of a customer initiated investment related written complaint on October 6 2017 where the customer requested four hundred thousand dollars in damages founded on allegations that Parks made unsuitable investment recommendations to the customer relating to master limited partnerships.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that a customer filed an investment related arbitration claim involving Parks’ conduct, in which the customer sought $113,486.00 in damages based upon accusations that Parks recommended unsuitable variable annuity investments to the customer. FINRA Arbitration No. 17-00563 (Mar. 9, 2017). Subsequently, on April 20, 2017, a customer initiated investment related written complaint regarding Parks’ activities was resolved for $18,156.21 in damages supported by allegations that the customer was not made aware of the risks relating to real estate investment trust products.
Another customer filed an investment related arbitration claim pertaining to Parks’ activities where the customer requested $78,000.00 in damages founded on accusations that oil & gas partnerships had been recommended by Parks even though the products were not suitable for the customer. FINRA Arbitration No. 17-01532 (June 15, 2017). Then, a customer filed an investment related arbitration claim involving Parks’ conduct, in which the customer sought compensatory damages based upon allegations that Parks executed unsuitable real estate security and mutual funds products in the customer’s account. FINRA Arbitration No. 17-02542 (Sept. 26, 2017).
Thereafter, a customer initiated investment related arbitration claim regarding Parks’ activities was resolved for $18,750.00 in damages supported by accusations that Parks recommended mutual fund and oil & gas master limited partnerships to the customer that were not appropriate for the customer. FINRA Arbitration No. 16-03722 (Nov. 21, 2017). Moreover, a customer initiated investment related arbitration claim pertaining to Parks’ activities was resolved for $37,000.00 in damages founded on allegations that the customer had been recommended business development company investments and closed-end funds that were not suitable for the customer. FINRA Arbitration No. 16-03125 (Dec. 12, 2017).
Parks was terminated from Ameriprise on April 1, 2016, based upon accusations that he failed to conform to his company’s policies relating to correspondence, customer disclosures and suitability of investments executed in the customers’ accounts.
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