Securities Lawyers Blog
According to BrokerCheck records financial advisor Elvis Parkes (Parkes), currently employed by Reid & Rudiger LLC (Reid & Rudiger) has been subject to 10 customer complaints, two regulatory actions, and one termination for cause during his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), many of the complaints against Parkes concern allegations of unsuitable investments.
In February 2007 Parkes was terminated by First Republic Group, LLC over allegations of unsuitable transactions by the firm. Thereafter, in June 2008 the state of Illinois fined Parkes and denied his registration in the state.
In September 2018, a customer complained that Parkes engaged in excessive and reckless trading. The claim is currently pending.
In July 2018, a customer complained that Parkes engaged in unsuitable investments causing $79,000 in damages. The claim is currently pending.