TAMAR SECURITIES, LLC
21031 VENTURA BOULEVARD, SUITE 1101
WOODLAND HILLS, CA 91364
FIRM CONTACT: AMIT STAVINSKY, CHIEF COMPLIANCE OFFICER
This brochure supplement provides information about Frank Parks that supplements Tamar Securities, LLC’s Form ADV Part 2A brochure(s). You should have received a copy of that brochure. Please contact Amit Stavinsky, Chief Compliance Officer, if you either did not receive this brochure or if you have any questions regarding the contents of this supplement.
Additional information about Frank Parks is available on the SEC’s website at www.adviserinfo.sec.gov
Senior Financial Associate
Frank Parks, a native of Washington, D.C., grew up in Maryland. He attended the University of Maryland, graduating with a degree in Communications from the College Parks campus in 1981. After he moved to Los Angeles, he joined Dean Witter in 1987. Subsequently, Frank worked at Morgan Stanley. In 2003, he joined Oppenheimer where he became associated with Amit Stravinsky.
Frank holds the General Securities Representative License (Series 7) as well as the Uniform Securities Agent State Law Exam (Series 63). He is also licensed as an Agent for Life Insurance in the state of California.
If there are legal or disciplinary events material to your evaluation of Mr. Parks, we are required to disclose all material facts regarding those events.1
We have nothing to disclose in this regard.
1 Note: Our firm may, under certain circumstances, rebut the presumption that a disciplinary event is material. If an event is immaterial, we are not required to disclose it. When we review a legal or disciplinary event involving Mr. Parks to determine whether it is appropriate to rebut the presumption of materiality, we consider all of the following factors: (1) the proximity of Mr. Parks to the advisory function; (2) the nature of the infraction that led to the disciplinary event; (3) the severity of the disciplinary sanction; and (4) the time elapsed since the date of the disciplinary event. If we conclude that the materiality presumption has been overcome, we prepare and maintain a file memorandum of our determination in our records. We follow SEC rule 204-2(a)(14)(iii) and similar state rules.
A. If Mr. Parks is actively engaged in any investment-related business or occupation, including if Mr. Parks is registered, or has an application pending to register, as a broker-dealer, registered representative of a broker-dealer, futures commission merchant (“FCM”), commodity pool operator (“CPO”), commodity trading advisor (“CTA”), or an associated person of an FCM, CPO, or CTA, we are required to disclose this fact and describe the business relationship, if any, between the advisory business and the other business.
1. If Mr. Parks receives commissions, bonuses or other compensation based on the sale of securities or other investment products, including as a broker-dealer or registered representative, and including distribution or service (“trail”) fees from the sale of mutual funds, we have to disclose this fact. If this compensation is not cash, we are required to explain what type of compensation Mr. Parks receives. We must explain that this practice gives Mr. Parks an incentive to recommend investment products based on the compensation received, rather than on your needs.
Mr. Parks is a registered representative with Purshe Kaplan Sterling Investments, Inc. (“PKS”), a registered broker-dealer and Member FINRA/SIPC. Our firm is not affiliated with PKS. In order to comply with FINRA Conduct Rule 3040, PKS as an unaffiliated broker-dealer may periodically review the investment advisory transactions of our firm. This information will be viewed by PKS’ compliance department personnel for supervisory purposes only. No information viewed will be utilized for purposes of solicitation or shared with any affiliation outside the scope of regulatory compliance.
B. If Mr. Parks is actively engaged in any business or occupation for compensation not discussed in response to Item 4.A, above, and the other business activity or activities provide a substantial source of Mr. Parks’ income or involve a substantial amount of Mr. Parks’ time, we are required to disclose this fact and must describe the nature of that business. If the other business activities represent less than 10 percent of Mr. Parks’ time and income, we may presume that they are not substantial.
Franklin Parks is a licensed insurance agent with various insurance companies in the state of California. In his individual capacity as licensed insurance agents, he may sell insurance products to our investment advisory clients. A conflict of interest exists to the extent that our firm recommends the purchase of insurance products where our firm’s Advisory Affiliates receive insurance commissions or other additional compensation.
If someone who is not a client provides an economic benefit to Mr. Parks for providing advisory services, we are required to generally describe the arrangement. For purposes of this Item, economic benefits include sales awards and other prizes, but do not include Mr. Parks’ regular salary. Any bonus that is based, at least in part, on the number or amount of sales, client referrals, or new accounts should be considered an economic benefit, but other regular bonuses should not.
We have nothing to disclose in this regard.
We are required to explain how we supervise Mr. Parks, including how we monitor the advice Mr. Parks provides to you. Our firm has to provide the name, title and telephone number of the person responsible for supervising Mr. Parks’ advisory activities on behalf of our firm.
Mr. Stavinsky, Chief Compliance Officer of Tamar Securities, LLC, supervises and monitors Mr. Parks’ activities on a regular basis. Please contact Mr. Stavinsky if you have any questions regarding Mr. Parks’ brochure supplement at Tamar Securities, LLC’s main office number; 818-914-7460.