Soreide Law Group, on behalf of our clients (Claimants), filed two separate lawsuits against:
FIRST ALLIED SECURITIES, INC.,
and their former registered representative, CHAD RYAN BARANCYK (Respondents)
The Claimants, residing in Indiana and Florida, bring these actions to recover losses suffered due to the alleged recommendations of FIRST ALLIED SECURITIES, and their former registered representative, CHAD RYAN BARANCYK, who allegedly sold unsuitable alternative investments and REITS in large concentrations to their clients. Some of these investments include, but are not limited to: FS Energy & Power Fund (no longer paying distributions and trading at a 90% loss on the secondary market), Hospitality Investors Trust (now in bankruptcy), Health Care Trust, Griffin American Health Care REIT, and Global Net Lease (formerly Arc Global Trust 11). The lawsuits are claiming an alleged over-concentration of illiquid REITs, of which many are either bankrupt now or have ceased all distributions. There is currently no market to sell some of these products unless they are auctioned off for pennies on the dollar.
Some of the claims made in both of the lawsuits filed against FIRST ALLIED SECURITIES and CHAD RYAN BARANCYK allege: negligence, violation of FINRA rules, breach of contract, negligent supervision, and breach of fiduciary duty.
According to FINRA’s BrokerCheck, CHAD RYAN BARANCYK, has 16 years of experience in the securities industry and has 7 disclosures on his FINRA CRD report. Of the 7 disclosures, 6 are Customer Disputes. Barancyk has been listed with 6 firms and has been with the following firm since February of 2021:
GREAT POINT CAPITAL LLC of CHICAGO, IL and NAPLES, FL
Some of the more recent firms CHAD RYAN BARANCYK was listed with, according to BrokerCheck, were:
11/12/2020 – 01/15/2021 CETERA INVESTMENT ADVISERS LLC – NAPLES, FL
11/18/2014 – 11/12/2020 FIRST ALLIED ADVISORY SERVICES, INC – NAPLES, FL
11/17/2014 – 01/15/2021 FIRST ALLIED SECURITIES INC – NAPLES, FL
If you’ve experienced financial losses due to the actions or recommendations of FIRST ALLIED SECURITIES Inc and/or their former registered representative, CHAD RYAN BARANCYK, contact the Florida-based Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.