Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
Investors potentially experienced sales practice violations because of securities broker Erik Craig Olson [CRD: 4794857, Crystal Lake, Illinois], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Olson has been employed by Arete Wealth Management LLC since March 31, 2010, and Arete Wealth Advisors LLC since April 1, 2010—both located at 1 North Virginia Street, Suite D, Crystal Lake, Illinois. Check out the following information to learn more about the disclosure involving Erik Olson and the allegations made by a client of his current employing firm.
Specifically, a client of Arete Wealth Management contested Erik Olson’s sales practices by filing FINRA Arbitration No. 24-01257 on June 7, 2024. Allegedly, Olson gave unsuitable advice to the client. It appears that Olson caused the client to sustain damages on alternative investments. Therefore, the client seeks damages from Arete Wealth Management or Olson in the amount of $104,832.47 in this ongoing matter.
An allegation of unsuitable recommendations involves claims that a securities broker or financial advisor advised a client to purchase an investment that was not appropriate for their specific financial goals, risk tolerance, or overall profile. When it comes to alternative investments—which may include non-traditional assets like private equity, hedge funds, limited partnerships, or structured products—these investments can be complex, illiquid, and riskier than standard options like mutual funds or stocks. If a broker recommends such investments without properly assessing whether they suit a client’s individual circumstances, it may lead to significant financial harm.
Did you experience losses because of Erik Olson? If so, get in touch with Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of investment-related losses. Soreide Law Group can help losses for clients located throughout the country, represents clients through a contingency fee basis, and advances all costs. Olson and brokerage firms Olson worked for deny any allegations of sales practice violations.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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