Investor Alleges Jeffrey Parks Misrepresented Annuity

Jeffrey Parks (CRD #: 5974274), a broker registered with Synovus Securities, allegedly misrepresented an investment, according to his BrokerCheck record, accessed on October 9, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Disputes

On July 20, 2022, an investor filed a dispute against Jeffrey Parks and others alleging that they misrepresented an annuity product the client purchased on May 3, 2022, by stating the product was a short-term investment, the client would have full access to his principal after a year, and that the client would earn at least 5%. The client sought $60,000 in damages but the dispute was denied by the firm.

In a dispute filed on June 8, 2020, several investors alleged that Jeffrey Park charged excessive commissions on purchases of treasury bills. The clients sought $208,140.67 but the dispute was denied by the firm.

However, investors should know that firms don’t need to allow an external review before denying a dispute. Investors can still pursue FINRA arbitration and potentially recoup their losses following a denial.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, and other fraudulent means of influencing investors’ decisions. Misrepresenting an investment’s potential risks, limitations, or other features violates this rule.

Background Information

Jeffrey Parks has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 3 – National Commodity Futures Examination
• Series 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination

Jeffrey Parks is a registered broker in 10 states and a registered investment adviser in eight states.

He has also worked for the following firms:

• Suntrust Advisory Services (CRD#:283390)
• Suntrust Investment Services (CRD#:17499)
• Fifth Third Securities (CRD#:628)
• Morgan Stanley (CRD#:149777)

Kurta Law Can Help

If you worked with Jeffrey Parks and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.