Options for Clients of Former First Allied Securities, Inc. Broker Chad Barancyk

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Erez Law is currently investigating former First Allied Securities, Inc. broker Chad Barancyk (CRD# 4921433) regarding unsuitable alternative investment recommendations. Chad Barancyk has been registered with Great Point Capital LLC in Chicago, Illinois since February 2021. Previously, he was registered with Great Point Advisors, LLC in Naples, Florida from February to December 2021. Previously, he was registered with Cetera Investment Advisers LLC in Naples, Florida from November 2020 to January 2021. Prior to that, he was registered with First Allied Securities, Inc. in Naples, Florida from 2014 to 2021. 

In June 2017, FINRA suspended Chad Barancyk for three days after he failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. 

Chad Barancyk Customer Complaints

Chad Barancyk has been the subject of 10 customer complaints between 2011 and 2022, two of which were denied, according to his CRD report:

February 2022. “Claimants allege their financial adviser recommended investments that were unsuitable for them. Claimants generally allege unsuitability, breach of fiduciary duty, breach of contract, and negligence.” The customer is seeking $260,000 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding real estate securities. 

February 2022. “Claimant alleges that she was recommended to invest in unsuitable alternative investment.” The customer is seeking $259,330 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding direct investments. 

September 2021. “Claimants generally allege negligence, misrepresentation, failure to supervise, and breach of contract.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding direct investments. 

August 2021. “Claimant generally alleges suitability, misrepresentation, respondeat superior, and failure to supervise.” The customer is seeking $53,000 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding real estate investment trusts (REITs).

June 2021. “Claimants allege former registered representative recommended unsuitable alternative investments and REITs.” The customer is seeking $100,000  in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding REITs and private placements. 

May 2021. “Claimant alleges former registered representative recommended unsuitable alternative investments and REITs.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding REITs and private placements. 

May 2021. “Claimants allege former registered representative recommended unsuitable alternative investments and REITs.” The customer is seeking $200,000 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding REITs and private placements. 

August 2020. “Claimant alleges that her financial advisor recommended unsuitable investments and failed to properly diversify her portfolio. Claimant generally alleges breach of duties and contract and failure to supervise.” The customer is seeking $250,000 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc. and was regarding direct investments. 

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, First Allied Securities, Inc. may be liable for investment or other losses suffered by Chad Barancyk’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.