FINRA suspends former Florida Financial Advisor
The Financial Industry Regulatory Authority (FINRA) has indefinitely suspended ex-broker Chad Ryan Barancyk after he failed to respond to the self-regulatory organization’s probe. FINRA attorneys requested more information on the arbitration award/settlement agreement, which the former broker allegedly didn’t address.
Barancyk was fired by Great Point Capital, Chicago, where he worked as a registered representative for less than a year between 2021 to 2022.
Previously, Barancyk was with First Allied Securities for six years in Naples, Florida. Before that, he was licensed with SII Investments broker in Crown Point, Indiana, for nine years. The ex-financial advisor, who worked in the industry for seventeen years, was also a former registered investment adviser at Cetera Investment Advisers. He worked for a few months for Cetera Investment Advisers in 2020.
The president and founder of Naples Private Wealth in Florida, Barancyk, has fourteen disclosures on his Central Registration Depository (CRD), including several pending customer disputes in which the claimants request over $2.1M in damages.
Our team of experienced broker misconduct attorneys at SSEK Law Firm investigated further claims of losses involving ex-First Allied Securities registered representative Chad Barancyk, including;
February 2022: Alleging unsuitable investment recommendations, negligence, breach of contract, and breach of fiduciary duty, these claimants request $260K in damages.
February 2022: This investor requests nearly $260K damages over losses suffered in an allegedly unsuitable alternative investment.
September 2021: These ex-customers are requesting $500K. They accuse Barancyk of unsuitability, failure to supervise, and misrepresentations, among other claims.
August 2021: This investor is requesting $53K in damages.
June 2021: Barancyk is accused of allegedly recommending unsuitable investments, including real estate investment trusts (REITs). These claimants are requesting $100K in damages.
May 2021: Making similar allegations, investors are requesting $500K in damages.
May 2021: Barancyk’s former customers seek $200K in damages by accusing him of similar claims.
August 2020: This investor is alleging failure to diversify and unsuitability. She is requesting $250K in damages.
June 2017: FINRA previously suspended Barancyk for a few days while he was an SII Investments broker. This was again over his alleged failure to respond to an investigation into allegations that he hadn’t complied with an arbitration award granted to a former customer.
Skilled Florida Broker Misconduct Attorneys
Investors may have known Barancyk through the financial firms he was registered with or in his role as a Naples Private Wealth advisor in Florida. Regardless, if you are a former customer of Chad Barancyk and you suffered stock losses or investment losses, you may be able to pursue financial recovery from him and/or his then broker-dealer of record. Brokerage firms have a duty to properly supervise their financial advisors and protect clients from broker negligence or misconduct.
SSEK Law Firm represents investors throughout Florida and the US against the broker-dealers responsible for their investment and bond losses. You can also speak with our investment loss lawyer at (813) 560-2992.