Heat the olive oil in a large skillet over medium-high heat. Add the beef cubes and brown them on all sides for about 5 minutes. Transfer the beef to the slow cooker.
Add the onion and garlic to the same skillet and cook for 2 minutes until they start to soften. Scrape them into the slow cooker.
Place the carrots, potatoes, and parsnips into the slow cooker with the beef.
Stir the tomato paste, thyme, rosemary, salt, and pepper into the beef broth until the paste dissolves. Pour the mixture over the ingredients in the slow cooker.
Cover and cook on low for 7 to 8 hours until the beef is fork-tender and the vegetables are soft.
Ladle the stew into bowls and sprinkle with chopped parsley before serving.