Matthew Parker: Why Was Wedbush Advisor Fired by LPL?

Santa Rosa, California financial advisor Matthew Parker (CRD# 6010373) was fired by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the former LPL Financial broker is registered as a broker and an investment advisor with Wedbush Securities.

Mr. Parker’s BrokerCheck report discloses his termination from LPL Financial. Filed in September 2025, it states that the firm fired him in connection with allegations that he “Liquidated an annuity and used the proceeds to fund a separate annuity purchase for a senior investor.”

While the disclosure provides no additional context or information regarding the underlying allegations behind Mr. Parker’s termination from LPL Financial, several FINRA rules may be in play. FINRA Rule 2111, for instance, states that brokers must “have a reasonable basis to believe that a recommended transaction,” such as an annuity liquidation to fund another annuity purchase, is suitable for a customer’s investment profile, including their age, investment background, net worth, financial situation, risk tolerance, investment goals, and other concerns. FINRA Rule 2020, meanwhile, stipulates that brokers may not “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Finally, FINRA Rule 2010 requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade” while conducting their business.

According to the Financial Industry Regulatory Authority, Matthew Parker holds 12 years of securities industry experience. Based in Santa Rosa, California, he has been registered as a broker and an investment advisor with Wedbush Securities since October 2025. His registration history includes LPL Financial, Bancwest Investment Services, Merrill Lynch, Valic Financial Advisors, and Waddell & Reed. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Connecticut, Idaho, and Nevada. (Information current as of October 19, 2025.)

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