DEARBORN, MICHIGAN

Our investment fraud law firm is continuing to review allegations made against James Parrelly from Dearborn, Michigan and his former brokerage firm, Investment Planners. In April 2021, a customer complained that Parrelly engaged in unsuitable trading activity. The claim was brought against Investment Planners, and the customer seeks $206,000 in damages.

In 2022, Jim Parrelly was barred from the securities industry after he failed to respond to a FINRA investigation. FINRA began its investigation after he was terminated by his former firm, Investment Planners, in July 2020, for using personal email and texts to communicate securities business with customers.

Jim Parrelly was registered with Investment Planners from March 2015 to July 2020. Parrelly had also been in the securities industry since 1981 and was also registered with a number of other firms. He has been the subject of seven other customer complaints and three regulatory actions. James Parrelly also filed for bankruptcy in 2021. Despite all these negative issues, that did not stop Parrelly for running for mayor of Dearborn, Michigan in 2021.

Claims against Investment Planners would likely have to be filed in FINRA arbitration. Investment Planners has a responsibility to sufficiently supervise the activities of its representatives, including Jim Parrelly. In addition, Parrelly had an obligation to make suitable investment recommendations pursuant to FINRA Rule 2111.

Attorney Aaron Israels is licensed to practice law in Michigan, and our firm maintains an office in Ann Arbor, Michigan. Mr. Israels grew up in Holland, Michigan and went to law school in Detroit.

View Parrelly, j FINRA AWC

If you lost money with James Jim Parrelly or Investment Planners, please Contact Us at 720-599-3505 for a free evaluation of your case.