Investors File Disputes About Securities Broker Chad Barancyk’s Sales Practices

Investors have disputed the sales practices of First Allied Securities broker Chad Ryan Barancyk (CRD#: 4921433, Chicago, Illinois), according to the Financial Industry Regulatory Authority (“FINRA”). Namely, there are three investors who have alleged sales practice violations by Barancyk. Also, BrokerCheck shows that FINRA briefly suspended him as securities broker. Here’s more about the broker.

Chad Barancyk Worked For Securities Firms, Financial Advisories

Evidently, Barancyk worked as a securities broker for firms SII Investments Inc. (2005 to 2014) and First Allied Securities (2014 to 2021) before joining Great Point Capital LLC (2021 to present).

Also, Barancyk worked as a financial advisor for First Allied Advisory Services (2014 to 2020) and Great Point Advisors LLC (2021 – present).

First Allied Securities Client Alleges Unsuitable Recommendations In Dispute About Chad Barancyk

First of all, a client of First Allied Securities took aim at Barancyk in August 2020 through a FINRA Arbitration Claim. Namely, the client alleged that Barancyk recommended unsuitable direct investments. Supposedly, this included direct participation program (DPP) interests or limited partnership (LP) interests. Specifically, suitability concerns a client’s investment experience, financial circumstances, risk tolerance, investment objectives, among other things. It appears that the client demands payment of $250,000 to resolve this matter. It appears that this matter is ongoing as of April 17, 2021.

SII Investments Clients Bring Disputes About Barancyk

Also, in a prior dispute on Chad Barancyk’s BrokerCheck record, a client of SII Investments alleged that Barancyk did not invest the client’s money as he promised. It seems that this dispute concerns the client’s investments in structured products, unit investment trusts (UITs), real estate securities (REITs), stocks, direct investments and annuities. However, SII Investments denied this client’s complaint.

It appears that a different client disputed Chad Barancyk’s recommendations. Specifically, the client indicated that the securities broker told them to move their pension assets into an individual retirement account. Notably, the client alleged that this voided their pension benefits. However, SII Investments denied this investor’s complaint.

FINRA Suspension Of Chad Barancyk

Notably, Chad Barancyk was briefly suspended for not paying a FINRA Arbitration Award or not confirming his compliance. Evidently, the Statement of Claim alleged breach of contract. It seems that the securities broker satisfied the suspension in June 2017.

Losses From Investing Through Barancyk?Lars Soreide AVVO 2020 Top Lawyer

Apparently, Chad Barancyk denies allegations of his sales practice violations. Have you incurred losses by investing with him? If so, touch base with Soreide Law Group at (888) 760-6552 and speak with a knowledgeable securities lawyer about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have experienced losses because of their securities brokers and financial advisors.