Investors apparently complained about securities broker Chad Evan Nyitray [CRD: 2332391, Ann Arbor, Michigan], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Nyitray worked for Ameriprise Financial Services LLC from November 4, 2020, to the present, and previously for Equitable Advisors LLC from March 22, 1993, to November 24, 2020. Keep reading to learn more about disclosures involving this securities broker.
Specifically, an Equitable Advisors LLC client filed FINRA Arbitration No. 23-03300 about Chad Nyitray. Mainly, the client alleged that Nyitray made unsuitable recommendations involving a real estate investment trust (REIT) purchase. For this reason, the investor allegedly sustained damages connected to the real estate securities. Therefore, on January 13, 2025, Equitable Advisors LLC settled this matter by paying the client $43,013.75 in damages.
Additionally, a client of Equitable Life contested Nyitray’s sales practices, according to a complaint dated June 18, 2001. Allegedly, Nyitray made unsuitable recommendations by selling two variable annuity contracts inside a retirement plan, and the client also requested reimbursement of $25,000 in surrender charges. It appears that Nyitray allegedly caused the client to sustain damages connected to variable annuities. Consequently, the client sought compensation from Equitable Life or Nyitray in the amount of $25,000 in this matter. However, the firm closed this complaint without the client taking further action.
Do you need clarification on any investment losses relating to Chad Nyitray? If so, reach out to Soreide Law Group at (888) 760-6552 or online and talk with a securities attorney concerning a possible recovery of your investment losses. Soreide Law Group has recovered losses for hundreds of clients throughout the US. Also, the firm works on a contingency fee basis and advances all costs. Nyitray and brokerage firms Nyitray worked for deny any allegations of sales practice violations.
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