Indianapolis financial advisor Steve Haskell (CRD# 6864948) recently received an investor complaint alleging his advice resulted in six-figure damages. Financial...Read More
Jay Parrish: $3mm Complaint Against JLP Investments Advisor
An investor complaint against Jacksonville financial advisor Jay Parrish (CRD# 4951494) alleges that his investment advice resulted in $3 million in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Dempsey Lord Smith, doing business as JLP Investments.
Mr. Parrish’s BrokerCheck report discloses one recent investor complaint. Filed in July 2022, it alleges that as a representative of Dempsey Lord Smith, he recommended an unsuitable direct investment. The pending complaint alleges damages of $3 million.
For reference, the term suitability refers to an investment’s appropriateness for a given investor’s individual background and objectives, or investor profile. FINRA Rule 2111 requires that brokers only recommend investments that are considered suitable for the customer to which they are recommending them, based on reasonable diligence into the customer’s profile. Suitability requirements are distinct from fiduciary requirements, which require investment advisers to place their clients’ interests over their own interests.
According to the Financial Industry Regulatory Authority, Jay Parrish holds 16 years of securities industry experience. Based in Jacksonville, Florida, he has been a broker and an investment advisor with Dempsey Lord Smith since 2009, doing business as JLP Investments. His past registrations include Edward Jones (Chattanooga, Tennessee; 2008-2009), Hornor Townsend & Kent (Atlanta, Georgia; 2007-2008), and PFS Investments (Duluth, Georgia; 2005-2007). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Florida, Georgia, Indiana, Mississippi, Oklahoma, Tennessee, Texas, and Virginia. (Information current as of August 17, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.