Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on April 16, 2019 indicate that Michigan-based Investment Planners broker/adviser James Parrelly has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Parrelly (CRD# 728368).
James Parrelly has spent 37 years in the securities industry and has been registered with Investment Planners in Dearborn, Michigan (2004-2015); Girard Securities in San Diego, California (2002-2004); Spelman & Company in Phoenix, Arizona (2001-2002); American Investment Services in Oklahoma City, Oklahoma (1996-2001); North American Financial Group in Warren, Michigan (1994-1996); Hamilton Investments (1990-1994); Painewebber in Weehawken, New Jersey (1987-1990); and Kidder Peabody & Company (1981-1987). He has passed six securities industry examination: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on April 16, 2004; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 27, 1981; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 7 (General Securities Representative Examination), which he obtained on April 11, 1981; Series 24 (General Securities Principal Examination), which he obtained on September 2, 2003; and Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on July 14, 1988. He is a registered broker and investment adviser with nine US states and territories: California, Florida, Georgia, Illinois, Michigan, Nevada, North Carolina, Ohio, and Texas.
According to his BrokerCheck report, he has received seven customer complaints and one pending customer complaint.
In April 2019 a customer alleged James Parrelly, while employed at Investment Planners, churned investments, acted negligently, and made unsuitable investment recommendations. The customer is seeking $500,000 in damages in the pending complaint.
In 2010 a customer alleged James Parrelly, while employed at First Midwest Securities, executed unauthorized transactions, recommended unsuitable investments, churned the account, and charged excessive commissions. The complaint settled for $90,000.
In 2003 a customer alleged James Parrelly, while employed at Spelman & Company, churned investments, recommended unsuitable securities, and committed fraud. The complaint settled for $150,000.
In 1995 a customer alleged he, while employed at North American Financial Group, committed fraud, breached his fiduciary duty, misrepresented material facts, and violated securities laws in connection to the sale of a private security. The complaint settled for $100,000.
In 1995 a customer alleged he, while employed at Hamilton Investments, breached his fiduciary duty, churned investments, failed in his supervisory duties, and misrepresented material facts. The complaint settled for $58,000.
In 1986 a customer alleged he, while employed at Kidder Peabody, recommended unsuitable investments. The complaint resulted in an award to the customer of $86,800.
If you or someone you know has lost money investing with James Parrelly, 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.