The law firm of Oakes & Fosher is presently investigating the possible misconduct of securities broker Jeffrey Parson. According to his publicly available FINRA BrokerCheck report, Jeffrey Parson has been the subject of multiple customer disputes.

Jeffrey Parson is a Florida based securities broker. He has worked in the securities industry for thirty-six years. During his career, he has been registered with seven different securities firms.

His Registrations

  • Lehman Brothers (1982-1993)
  • Smith Barney Shearson (1993-1994)
  • Kidder, Peabody & Co. (1994-1995)
  • Painewebber Incorporated (1995-2000)
  • Prudential Securities Incorporated (2000-2003)
  • Wachovia Securities (2003-2007)
  • Morgan Stanley (2007-Present)

The Allegations

  • In January 1992, a customer alleged that Jeffrey Parson recommended unsuitable securities and misrepresented said securities. This case was settled for $13,000.
  • In June 1996, a customer alleged that Jeffrey parson recommended unsuitable securities and engaged in excessive trading. This case went to arbitration where the customer was awarded $92,500 in damages.
  • In October 2008, a customer alleged that Jeffrey Parson recommended unsuitable securities. This case was settled for $7,861 in damages.
  • In August 2018, another customer alleged that Jeffrey Parson recommended unsuitable securities. The alleged transgressions taking place between July 2013 and October 2017.

What Does This Mean?

Securities brokers have an obligation to their customers to always act in their best financial interests. This means that they are only supposed to recommend securities to investors that are suitable for them. They can determine this suitability by looking at factors like the customer’s investment objectives, financial situation, and liquidity needs. Securities brokers, like Jeffrey Parson, cannot excuse themselves by claiming they were unaware that an investment was unsuitable.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Jeffrey Parson, please contact Oakes & Fosher for a free and private consultation. We handles cases on a contingency basis, which means there are no fees charged unless we collect for you.