Thomas Parker: Thoroughbred Financial Rep Hit With $75,000 SEC Fine

Thomas Parker

Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on April 30, 2019 indicate that Tennessee-based Thoroughbred Financial Services broker/adviser Thomas Parker has received numerous customer disputes and regulatory sanctions. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Parker (CRD# 356789).

Thomas Parker has spent 45 years in the securities industry and has been registered with Thoroughbred Financial Services in Brentwood, Tennessee since 2000. Previous registrations include Advanced Financial Planning Securities Corporation in Brentwood, Tennessee (1986-2000); Capital Analysts (1974-1986); and Advance Planning Corporation (1973-1974). He has passed four securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 22, 1982; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 1 (Registered Representative Examination), which he obtained on November 13, 1973; and Series 24 (General Securities Principal Examination), which he obtained on January 31, 1986. He is a registered broker and investment adviser with 26 US states and territories.

According to his BrokerCheck report, he has received nine customer complaints, two regulatory sanctions, and one pending investigation by state authorities.

In March 2019 he was named in an investigation by the Department of Commerce and Insurance of Tennessee to determine whether he participated in unfair trade practices or fraud, used “fraudulent, coercive, or dishonest practices,” or demonstrated “incompetence, untrustworthiness or financial irresponsibility in the conduct of business in this state or elsewhere.” The investigation remains pending.

In December 2018 the SEC sanctioned him in connection to allegations that at Thoroughbred Financial Services he breached his fiduciary duty and provided inadequate disclosures regarding mutual fund share class recommendations. He was issued a cease and desist order and a fine of $75,000, and was ordered to pay more than $217,800 in disgorgement.

In 1996 a customer alleged Thomas Parker, while employed at Advanced Financial Planning Securities Corporation, failed in his supervisory duties. The complaint settled for $80,000.

In 1996 a customer alleged Thomas Parker, while employed at Advanced Financial Planning Securities Corporation, failed to supervise a representative at the firm. The complaint settled in 2002 for $100,000.

In 1996 a customer alleged Thomas Parker, while employed at Advanced Financial Planning Securities Corporation, failed in his duty to reasonably supervise the activities of a firm representative. The complaint settled in 1999 for $160,000.

If you or someone you know has lost money investing with Thomas Parker, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.