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July 1, 2015

Broker to Celebs Barred by FINRA

Aaron Parthemer, a Wells Fargo financial advisor to pro athletes and celebrities, has been banned from the securities industry. The Financial Industry Regulatory Authority (FINRA) claimed that Parthemer failed to disclose multiple outside business activities including running a popular Miami nightclub, Club Play. FINRA believes that Parthemer solicited his clients to invest in the nightclub and made unapproved loans involving the club. Parthemer also allegedly solicited more than a half dozen pro athlete clients to invest over $3 million in an internet branding company that was operated by a close friend. Finally, FINRA claims that Parthemer supplied false information in connection with its investigation.

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