Updated on: March 23, 2022
National investment fraud lawyers KlaymanToskes is investigating ex-First Allied broker Chad Barancyk concerning unsuitable investment recommendations.
Chad Barancyk First Allied Unsuitable Investment Investigation
Barancyk is currently registered as an investment adviser with Great Point Advisors, LLC out of its Naples, Florida branch location. Before joining Great Point Advisors, LLC, Barancyk was registered with Cetera Investment Services, LLC from November 2020 to January 2021.
Barancyk was registered with First Allied Securities, Inc. as a broker from November 2014 to January 2021.
Chad Barancyk Facing Customer Complaints
According to FINRA BrokerCheck, Chad Barancyk is facing 8 pending customer disputes.
- $260,000 Claim Filed in February 2022. The customer alleges that “their financial adviser recommended investments that were unsuitable for them. Claimants generally allege unsuitability, breach of fiduciary duty, breach of contract, and negligence.”
- $259,330 Claim Filed in February 2022. The customer alleges that “she was recommended to invest in unsuitable alternative investment.”
- $500,000 Claim Filed in September 2021. The customer alleges “negligence, misrepresentation, failure to supervise, and breach of contract.”
- $53,000 Claim Filed in August 2021. The customer alleges “suitability, misrepresentation, respondeat superior, and failure to supervise.” The claim involves real estate investment trusts.
- $100,000 Claim Filed in June 2021. The customer alleges that the “former registered representative recommended unsuitable alternative investments and REITs.” The claim involves REITs and private placements.
- $500,000 Claim Filed in May 2021. The customer alleges that the “former registered representative recommended unsuitable alternative investments and REITs.” The claim involves REITs and private placements.
- $200,000 Claim Filed in May 2021. . The customer alleges that the “former registered representative recommended unsuitable alternative investments and REITs.”
- $250,000 Claim Filed in August 2020. The customer alleges that “her financial advisor recommended unsuitable investments and failed to properly diversify her portfolio. Claimant generally alleges breach of duties and contract and failure to supervise.” The claim involved direct investments.
Barancyk Suspended by FINRA in 2017
In June 2017, FINRA suspended Barancyk in which the self-regulatory organization alleged that he failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request for information concerning the status of compliance.
Chad Barancyk First Allied Investigation
Former and current customers of Chad Barancyk, especially when he was with First Allied Securities, Inc., with losses in excess of $250,000, and those who have information relating to the manner in which he handled customer accounts, are encouraged to contact Lawrence L. Klayman, Esq., at 1-888-997-9956, and download our Special Investor Report.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm practicing exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KlaymanToskes has recovered more than $230 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
KlaymanToskes
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com
