Investor Lawsuit Investigation –Shawn Elizabeth Parker
The White Law Group is investigating potential securities claims involving former Ameriprise Financial advisor Shawn Elizabeth Parker (CRD#: 1768234).
Background on Shawn Parker
According to FINRA BrokerCheck, Parker was registered in the securities industry for 32 years and spent her entire career with Ameriprise Financial Services, LLC (CRD#: 6363) and IDS Life Insurance Company. Parker is no longer registered as a broker or investment adviser.
FINRA has permanently barred Parker from acting as a broker or associating with any broker-dealer firm.
FINRA Findings – Conversion of Firm Funds
On April 20, 2022, FINRA accepted a Letter of Acceptance, Waiver and Consent (AWC No. 2019064551501), in which Parker consented to a permanent bar from the securities industry.
According to the findings:
- Parker hosted annual holiday training and educational events for clients at a local banquet venue.
- For at least the 2017 and 2018 events, expense reports prepared at her direction contained falsified invoices that overstated the total costs.
- As a result, Parker received at least $25,000 in reimbursements to which she was not entitled.
- She agreed to repay the funds to her firm as part of an internal resolution.
FINRA concluded Parker’s conduct violated Rule 2010, which requires high standards of commercial honor and just and equitable principles of trade.
State of Illinois Regulatory Action
Following FINRA’s sanction, the Illinois Secretary of State Securities Department initiated an action in 2025 seeking to prohibit Parker from acting as an investment adviser in the state, based on the same misconduct outlined in the FINRA AWC.
Customer Complaints and Employment Separation
Parker’s BrokerCheck record lists 11 disclosures, including:
- Customer disputes alleging unsuitable investments, forgery of documents, and misrepresentation of annuity riders and REIT sales. Several were denied, and one settled for $25,000.
- Employment separation after allegations: In June 2020, Ameriprise permitted Parker to resign following compliance policy violations related to wholesaler reimbursement submissions.
Risks to Investors
The allegations against Parker highlight significant risks for investors, including:
- Misrepresentation of investment products
- Unsuitable investment recommendations (REITs, variable annuities)
- Forged documentation concerns
- Conversion of firm funds
Recovery Options for Investors
If you invested with Shawn Elizabeth Parker and have concerns about your accounts, you may be entitled to recover losses through a claim against her former employer, Ameriprise Financial Services. Broker-dealers can be held liable for failing to properly supervise their representatives.
Investors may pursue claims through FINRA arbitration, a forum designed to resolve disputes between investors and securities firms.
The White Law Group Can Help
The White Law Group has handled over 700 FINRA arbitration cases nationwide and has recovered millions of dollars for investors wronged by their financial advisors.
Free Consultation
If you have concerns regarding investments made with Shawn Elizabeth Parker or Ameriprise Financial, contact The White Law Group at (888) 637-5510 for a free consultation.
You can also visit us online at www.whitesecuritieslaw.com.
FAQs – Shawn Elizabeth Parker
Why was Shawn Parker barred from the securities industry?
Parker was barred after FINRA found she submitted falsified invoices for client events, resulting in $25,000 in improper reimbursements.
Can Ameriprise Financial be held responsible for her actions?
Yes. Brokerage firms have a duty to supervise their financial advisors. If a broker engages in misconduct, the firm may be liable for investor losses.
How can I recover my investment losses?
Investors can pursue recovery through FINRA arbitration, which may result in reimbursement of lost funds, interest, and attorney’s fees.
Last modified: August 20, 2025
