Aaron Parthemer, formerly with Morgan Stanley Smith Barney, and Wells Fargo Advisors, Ordered to Pay $160,000 by SEC
Have you lost money with financial advisor Aaron Parthemer of Fort Lauderdale, Florida? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Aaron R. Parthemer. Parthemer agreed to be barred from the securities industry after he solicited clients to invest in a startup internet company identified as “GVC” (Global Village Concerns). He was alleged that to have solicited at least eight clients (some of whom were NFL and NBA players) to invest at least $3 million in GVC between July 2009 to February 2012. However, Parthemer did not have permission to sell GVC stock from the firms that he was affiliated with, Wells Fargo Advisors and Morgan Stanley Smith Barney.
In August 2017, the Securities and Exchange Commission (SEC) ordered Aaron Parthemer to pay a fine of $160,000 following the termination of his bankruptcy. The SEC’s order is related to the alleged misrepresentations he made in connection with GVC.
Aaron R. Parthemer was a financial advisor and registered representative of Morgan Stanley Smith Barney from June 2009 to October 2011, and with Wells Fargo Advisors from October 2011 to May 2015. He worked at an office in Fort Lauderdale, Florida. Parthemer was also alleged to have loaned money to clients, in violation of FINRA rules.
Brokerage firms like Morgan Stanley Smith Barney and Wells Fargo Advisors have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies, such as refraining from selling investments and securities that are not approved by the firm. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Our attorneys have represented over one thousand investors who have been defrauded by their financial advisor or stockbroker. While we have offices in Denver and the Seattle area, we have also previously represented clients throughout Florida, and attorney David Neuman is licensed to practice law in Florida.
Click to view: Parthemer, Aaron SEC Order
Click to view: Parthemer FINRA AWC
Click to view: Parthemer BrokerCheck 4.23.15
If you have lost money with Aaron R. Parthemer, Morgan Stanley Smith Barney, or Wells Fargo Advisors and want to hear about ALL legal options, please visit https://www.israelsneuman.com or call us at 720-599-3505
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.