Chad Barancyk: Customers File Arbitrations for REIT Losses
Financial Industry Regulatory Authority (FINRA) records accessed on October 20, 2021 indicate that former First Allied broker/adviser Chad Barancyk has received numerous pending customer complaints. These complaints relate to the sales of non-traded REITs. MDF Law encourages investors who have lost money investing with Mr. Barancyk (CRD# 4921433) to call us at 800-767-8040 for a free consultation.
Multiple Customer Complaints Related to REITs
According to his BrokerCheck report, he has received six pending customer complaints, two denied customer complaints, and one regulatory sanction.
In 2021 a customer alleged Chad Barancyk, while employed at First Allied Securities, acted negligently, made misrepresentations of material facts, failed in his supervisory duties, and breached contract. The customer is seeking $500,000 in damages in the pending complaint.
In 2021 a customer alleged Chad Barancyk, while employed at First Allied Securities, made unsuitable investment recommendations, misrepresented material facts, and failed in his supervisory duties in connection to investments in real estate investment trusts. The customer is seeking $53,000 in damages in the pending complaint.
In 2021 another party of customers alleged that while employed at First Allied Securities, Chad Barancyk made unsuitable recommendations involving alternative investments and real estate investment trusts. The customer is seeking $100,000 in damages in the pending complaint.
In 2021 a party of customers alleged that while registered with First Allied Securities, he unsuitably recommended certain real estate investment trusts and private placements. The customers are seeking $200,000 in damages in the pending complaint.
In 2021 another party of customers alleged he recommended unsuitable private placements and REITs while associated with First Allied Securities. The customers are seeking $500,000 in the pending complaint.
In 2020 a customer alleged that while he was registered with First Allied, he failed to properly diversify her portfolio, breached contract, breached his fiduciary duty, and failed in his supervisory duties. The customer is seeking $250,000 in damages in the pending complaint.
Barancyk Formerly Registered with First Allied
Chad Barancyk has spent 16 years in the securities industry and has been registered with Great Point Capital in Chicago, Illinois and Naples, Florida since 2021. His previous registrations include Cetera Investment Advisers in Naples, Florida (2020-2021); First Allied Securities in Naples, Florida (2014-2021); and SII Investments in Crown Point, Indiana (2005-2014). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on March 19, 2009; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 28, 2005; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 7 (General Securities Representative Examination), which he obtained on February 25, 2005. He holds securities registrations in Florida, Indiana, Kentucky, and New Jersey.