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Chad Barancyk Facing Multiple Six-Figure Disputes and FINRA Suspension

Chad Barancyk (CRD #: 4921433), a broker formerly registered with Great Point Capital, has been suspended by FINRA, according to his BrokerCheck record, accessed on September 8, 2022. This followed two regulatory actions and 11 investor disputes. 

FINRA Suspension

According to a regulatory action filed on June 15, 2022, Chad Barancyk failed to respond to FINRA requests for information. If he fails to request termination of the suspension within three months, he will automatically be bared on September 19, 2022. 

Employment Termination 

On June 3, 2022, Great Point Capital fired Chad Barancyk following allegations that he failed to provide the required information for a FINRA inquiry. 

Misrepresentation Allegations 

FINRA Rule 2020 prohibits brokers from misrepresenting investments and omitting material information. Two recent disputes allege he misrepresented an investment. The investors are collectively seeking over $550,000. 

Unsuitable Investment Allegations 

FINRA Rule 2111 requires brokers to only recommend investments that suit their investors’ needs. Brokers must consider their investors’ age, financial goals, and risk tolerance.

  • On February 4, 2022, investors alleged that Chad Barancyk allegedly recommended unsuitable investments. They further alleged a breach of fiduciary duty and negligence. 
  • On June 14, 2021, investors alleged that Chad Barancyk recommended unsuitable alternative investments and REITs. The investor is seeking $100,000; the dispute is pending.
  • There is a similar investor dispute from just a month earlier. On May 28, 2021, an investor alleged that Chad Barancyk recommended unsuitable alternative investments and REITs. The investor sought $500,000 and the dispute was settled for $85,000. 
  • On August 31, 2020, an investor alleged that Chad Barancyk recommended unsuitable investments and failed to properly diversify her portfolio. The investor is seeking $250,000; the dispute is pending.

Previous Regulatory Action

On June 27, 2017, FINRA alleged that Chad Barancyk failed to comply with an arbitration award. The arbitration award alleges that he is liable for a payment of $26,177.06 plus interest to an investor. You can read a copy of the award here.

Background Information

Chad Barancyk has passed the following exams:

  • Series 65 Uniform Investment Adviser Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination

He has worked with the following firms:

  • Great Point Capital (CRD #: 114203)
  • Great Point Advisors (CRD #: 307477)
  • Cetera Investment Advisers (CRD #: 105644)
  • First Allied Advisory Services (CRD #: 137888)
  • First Allied Securities (CRD #: 32444)
  • SII Investments (CRD #: 2225)

Kurta Law Can Help

If you worked with Chad Barancyk and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means the firm only earns a fee if our securities attorneys recover money on your behalf.