$1mm Complaint Against Asheville Advisor Patrick Chitwood

Chitwood Wealth Management’s Patrick Chitwood allegedly caused $1 million in damages, according to a pending investor complaint. Financial Industry Regulatory Authority Records show that the Asheville, North Carolina broker’s firm offers securities through Triad Advisors.

Mr. Chitwood’s BrokerCheck report discloses one pending investor complaint against him. Filed in March 2022, it alleges that as a representative of Triad Advisors and Arkadios Capital, he engaged in negligence, over-concentrated investments, and made unsuitable recommendations relating to alternative investments. The pending complaint alleges damages of $1,000,000.

According to the Financial Industry Regulatory Authority, Patrick Chitwood holds 42 years of securities industry experience. Based in Asheville, North Carolina, he has been a representative of Chitwood Wealth Management, offering securities through Triad Advisors, since 2021. His past registrations include Arkadios Capital (Atlanta, Georgia; 2017-2021), Triad Advisors (Norcross, Georgia; 2011-2017), ProEquities (Birmingham, Alabama; 2008-2011), Triad Advisors (Birmingham, Alabama; 2003-2008), Royal Alliance Associates (Jersey City, New Jersey; 1989-2003), Integrated Resources Equity Corporation, the Robinson-Humphrey Company, Shearson Lehman Brothers, Wheat First Securities, and Robinson-Humphrey/American Express. His credentials include the passage of five securities industry qualifying exams: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the General Securities Principal Examination, or Series 24; and the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8. He is licensed in Alabama, Arkansas, Delaware, Florida, Illinois, North Carolina, Ohio, Texas, and Virginia. (Information current as of May 18, 2022.)

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