Walter Warren Parker of Rowlett Texas a stockbroker formerly registered with Titan Securities is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $95,000.00 in damages supported by accusations of negligence regarding the sale of interests in a private placement and the sale of a real estate security by Parker when he was associated with Titan Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00290 (Feb. 3, 2021). According to the claim, Parker breached a fiduciary duty to the customer in reference to those alternative investments.
FINRA Public Disclosure shows that Parker has been identified in fifteen additional customer initiated investment related disputes concerning allegations of his wrongdoing when associated with Titan Securities. On February 28, 2019, a customer filed an investment related FINRA securities arbitration claim regarding Parker’s conduct in which the customer requested $270,000.00 in damages founded on accusations of negligence and the misrepresentations and omissions of information by Parker relating to the customer’s investment in direct participation programs and limited partnerships. FINRA Arbitration No. 19-00514 (Feb. 28, 2019). According to the claim, the customer’s account had been overconcentrated in direct investments. The claim alleges a breach of fiduciary duty and a breach of contract by the stockbroker. Titan Securities is accused of its failure to supervise Parker’s actions.
On August 30, 2019, another customer initiated investment related FINRA securities arbitration claim concerning Parker’s conduct was resolved for $10,000.00 in damages based upon allegations of negligence, breach of contract and breach of fiduciary duty by the stockbroker regarding a direct private placement known as Bluerock. FINRA Arbitration No. 19-02051. According to the claim, Titan Securities failed to supervise the stockbroker’s real estate security transactions.
On December 10, 2020, a different customer filed an investment related FINRA securities arbitration claim involving Parker’s activities where the customer sought between $100,000.00 and $500,000.00 in damages founded on allegations of information being fraudulently concealed or misrepresented as it concerned alternative investment purchases. FINRA Arbitration No. 20-03929. The claim alleges that Parker violated his fiduciary duty and that his negligence resulted in the customer’s damages on those alternative investments.
Parker is also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $81,000.00 in damages supported by accusations of misrepresentations and omissions being made by Parker at Titan Securities. FINRA Arbitration No. 20-04043 (Dec. 14, 2020). According to the claim, the securities broker dealer failed to supervise Parker. The claim alleges that Parker breached both a contract and fiduciary duty to the customer and had violated securities laws in regard to real estate security transactions.
Parker is additionally referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $30,000.00 in damages based on accusations of breach of fiduciary duty concerning the customer’s investments in Life Partners Waco Life Settlements, Cornerstone REIT, and United Development Funding IV during the time that Parker was associated with Titan Securities. FINRA Arbitration No. 19-01624 (May 12, 2021). According to the claim, securities transactions were executed in breach of contract and resulted in the customer being defrauded.
FINRA Public Disclosure additionally reveals that Parker has been fined $7,500.00 and suspended for one month from associating with any FINRA member in any capacity based upon findings that he made unsuitable alternative investment recommendations to a customer. Letter of Acceptance Waiver and Consent No. 2016050492101. Parker had the customer invest a large portion of their net worth in illiquid alternative investments including UDF IV, ARC3, ARC4 and BEMT. This was not suitable given the customer’s liquidity needs, investment horizon, and their lack of experience with alternative investments. Parker violated FINRA Rules 2010 and 2111.
Parker’s registration with Titan Securities has been terminated as of March 7, 2018.