brokerwatch

REITs and other alternative investments recommended by Danny and Brent Chancellor include (but are not limited to):

• ARC Hospitality Trust
• ARC Realty Finance Trust
• Griffin-American Healthcare REIT
• Northstar Healthcare Income
• Northstar Realty Fin Corp
• Steadfast Income REIT

Danny Chancellor and Brent Chancellor Lawsuit

According to a lawsuit filed in July, 2021 by Peiffer Wolf,

“[Client] needed his investments to be liquidable, and [Danny and Brent Chancellor] clearly failed to conduct adequate due diligence before recommending investments to Claimant, including ARC Hospitality Trust, ARC Realty Finance Trust, Northstar Healthcare Income REIT, Northstar Realty Finance Corp, and Steadfast Income REIT. Additionally, Respondents’ recommendations to Claimant led to an over concentration of REITs in his accounts. As a result, Claimant has not reaped the benefits of investing during what has been a historic bull market, and has suffered significant losses.

Placing Claimant’s portfolio in REITs and other alternative investment products was clearly dangerous to the wellbeing of his investment. At Respondents’ recommendations, over 25% of Claimant’s entire portfolio was invested in REITs and alternative investment, which are illiquid and unsuitable…”

Danny Chancellor and Brent Chancellor | Malachi Financial and First Allied Securities

Danny Chancellor (William Danny Chancellor) was a manager at Malachi Financial and a registered broker with First Allied Securities from 2012 to 2017.  Since 2017, he is no longer a registered broker. According to FINRA’s BrokerCheck website for Public Disclosures, Danny Chancellor was the subject of 4 disclosures, including 2 Regulatory events. Some of the most notable ones are:

• April 2018 – Customer Dispute. Status: Settled. Total Amount: $20,000.00. Allegations: “Claimant alleges unsuitable investment recommendations and excessive fees and commissions. Claimant further alleges that fees and risks were not fully disclosed to him.”
• May 2016 – Regulatory. Sanctions: Civil and Administrative Penalty(ies)/Fine(s); Suspension. Allegations: “Chancellor willfully failed to disclose a material fact on a Form U4, and that under section 3(a)(39)(f) of the Securities Exchange Act of 1934 and Article III, Section 4 of the FINRA By-Laws, this omission make him subject to a statutory disqualification with respect to association with a member.”
• September 2012 – Regulatory. Sanctions: Monetary Penalty other than Fines; Suspension. Allegations: “He allowed a subordinate to forge a client’s signature on a policy delivery receipt. Respondent failed to effectively communicate with the client, he executed a transaction without the client understanding the consequence of the transaction. Registered representative violated section 75-71-501(2) of the act when he, as the manager of Malachi Financial, LLC did not properly monitor the statements that Malachi Financial made through its business website.”

Prior to First Allied Securities, Danny Chancellor was registered with Cambridge Investment Research, Mutual Service Corporation, Walnut Street Securities, Fortis Investors, IFG Network Securities, Planned Investments, and First American National Securities.

To review Danny Chancellor’s Brokercheck report, click here:

https://brokercheck.finra.org/individual/summary/1277838

*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)

Brent Chancellor (Christopher Brent Chancellor) is a registered broker with Spire Securities since 2020. From 2015 to 2020, he was a registered broker with First Allied Securities. Prior to Spire Securities, Brent Chancellor was a registered broker with Securities America and First Allied Securities.

To review Brent Chancellor’s Brokercheck report, click here:

https://brokercheck.finra.org/individual/summary/6223895

*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)