Investigation Opened Into Matthew Parker Following LPL Financial Termination
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Haselkorn & Thibaut has opened an investigation into Santa Rosa financial advisor Matthew Parker (CRD# 6010373) following his termination from LPL Financial in September 2025. The firm is examining allegations that Parker liquidated an annuity and used the proceeds to fund a separate annuity purchase for a senior investor.
If you’ve worked with Matthew Parker or have concerns about your annuity investments, understanding the details of this situation can help you make informed decisions about your financial future. Let’s explore what investors should know about this recent development.
Understanding Matthew Parker’s Professional Background
Matthew Parker brings 12 years of securities industry experience to his role as a financial advisor. Currently registered with Wedbush Securities as both a broker and investment advisor since October 2025, Parker has built his career across several well-known financial institutions.
Professional History at a Glance
| Firm | Status |
|---|---|
| Wedbush Securities | Current (October 2025 – Present) |
| LPL Financial | Terminated (September 2025) |
| Previous Firms | Bancwest Investment Services, Merrill Lynch, Valic Financial Advisors, Waddell & Reed |
Parker holds licenses in California, Connecticut, Idaho, and Nevada, having successfully passed the SIE, Series 7, and Series 66 examinations.
The LPL Financial Termination: What Investors Should Know
The circumstances surrounding Matthew Parker’s departure from LPL Financial raise important questions for investors. According to FINRA BrokerCheck records, LPL Financial terminated Parker in connection with allegations that he liquidated an annuity and used those proceeds to fund a separate annuity purchase for a senior investor.
This type of transaction, sometimes called “annuity switching” or “replacement,” can be problematic when:
- Surrender charges apply to the liquidated annuity, causing immediate financial loss
- The new annuity doesn’t provide clear benefits over the original product
- The transaction primarily generates commissions rather than serving the client’s best interests
- A senior investor may not fully understand the implications of the switch
Red Flags for Investors Working with Matthew Parker
While everyone deserves fair consideration, investors should be aware of potential warning signs when evaluating their relationship with any financial advisor. Here are key areas to review:
1. Annuity Transactions
If Matthew Parker recommended switching annuities in your portfolio, carefully review all documentation. Look for:
- Surrender charges you may have paid
- Differences in fees between old and new products
- Changes in benefits or guarantees
- Clear justification for why the switch was necessary
2. Suitability Concerns
FINRA Rule 2111 requires that all recommendations be suitable for an investor’s specific situation. Consider whether Parker’s recommendations aligned with your:
- Age and retirement timeline
- Risk tolerance
- Financial goals
- Overall investment strategy
3. Communication and Transparency
Reflect on your interactions with Parker. Did he clearly explain all costs and risks associated with recommended transactions? Were you pressured to make quick decisions?
What This Means for Current and Former Clients
If you’ve worked with Matthew Parker at LPL Financial, Wedbush Securities, or any of his previous firms, now is the time to review your accounts. Pay special attention to any annuity transactions completed under his guidance.
Senior investors, in particular, should examine their portfolios carefully. The allegation specifically mentions a senior investor, suggesting potential vulnerability in this demographic.
Steps to Take Now
- Gather all account statements and transaction confirmations
- Document any annuity switches or replacements
- Calculate any surrender charges or fees paid
- Review correspondence with Parker about investment recommendations
- Consider seeking a professional portfolio review
Your Rights as an Investor
Investors have legal protections when financial advisors engage in unsuitable transactions or fail to act in their best interests. You may be entitled to recover losses resulting from improper annuity switches or other unsuitable recommendations.
The securities industry operates under strict regulations designed to protect investors. When advisors violate these rules, clients have recourse through FINRA arbitration and other legal channels.
Why Timing Matters
Securities claims have time limitations. Acting promptly protects your rights and ensures access to important documents and evidence. The sooner you address potential issues, the stronger your position becomes.
Get Help Understanding Your Options
Haselkorn & Thibaut specializes in helping investors recover losses from unsuitable investment recommendations and advisor misconduct. With over 50 years of experience and a 98% success rate, the firm has recovered millions for clients nationwide.
The firm operates on a “no recovery, no fee” basis, meaning you pay nothing unless they successfully recover funds on your behalf.
If you invested with Matthew Parker and have concerns about annuity switches or other transactions, don’t wait to get answers. Contact Haselkorn & Thibaut at 1-888-628-5590 for a free consultation. Their experienced team can review your situation and help you understand your options for potential recovery.
Remember: You worked hard for your investments. If someone violated your trust or acted improperly with your money, you deserve answers and potentially compensation. Take the first step toward protecting your financial future by calling 1-888-628-5590 today.
