Chad Barancyk: $1.8mm in Complaints Against Great Point Capital Rep
Chicago broker Chad Barancyk (CRD# 4921433) has received eight pending investor complaints alleging his recommendations caused almost $2 million in losses. Financial Industry Regulatory Authority records show that he is a representative of Great Point Capital and was formerly a representative of First Allied Securities.
Filed in February 2022, the pending investor complaint disclosed on Mr. Barancyk’s BrokerCheck report alleges that as a representative of First Allied Securities, he recommended unsuitable alternative investments. The pending complaint alleges damages of $259,330.
Another complaint, filed in 2021, alleges that as a representative of First Allied Securities, he recommended unsuitable investments, breached his fiduciary duty, breached contract, and acted negligently in relation to investments in real estate securities. The pending complaint alleges damages of $260,000.
A third complaint, filed in 2021, alleges negligence, misrepresentation, failure to supervise, and breach of contract. The pending complaint alleges damages of $500,000.
A fourth complaint, filed in 2021, alleges that as a First Allied rep he misrepresented material facts, failed in his supervisory responsibilities, and recommended unsuitable real estate investment trust (REIT) products. The pending complaint alleges damages of $53,000.
Another 2021 complaint alleges that he recommended unsuitable alternative investments and REITs while at First Allied Securities. The pending complaint alleges damages of $100,000.
Two other pending 2021 complaints listed on Mr. Barancyk’s BrokerCheck report allege that he recommended unsuitable alternative investments and REITs. The pending complaints allege damages of $200,000 and $500,000, respectively.
One final pending complaint listed on his BrokerCheck report, filed in 2020, alleges that he recommended unsuitable investments, breached contract, failed in his supervisory obligations, and failed to properly diversify her portfolio. The pending complaint alleges damages of $250,000.
According to the Financial Industry Regulatory Authority, Chad Barancyk holds 17 years of securities industry experience. He has been affiliated with Great Point Capital in Chicago, Illinois since February 2021. His past registrations include First Allied Securities (Naples, Florida; 2014-2021) and SII Investments (Crown Point, Indiana; 2005-2014). His credentials include the passage of four securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He is licensed as a broker in Indiana, Kentucky, and New Jersey. His self-regulatory organization (SRO) registrations include FINRA and Investors’ Exchange LLC. (Information current as of May 16, 2022.)
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