When you clicked the link, <a4j:commandLink> will reload the whole page that's why EquityAccountMenu is being called again. So, instead of putting <a4j:commandLink> inside <a4j:form>, put it inside <a4j:region> instead. After all, <a4j:form> there is useless because links are automatically GET methods.
See
<a4j:region> description here:
http://docs.jboss.org/richfaces/latest_3_3_X/en/devguide/html/a4j_region.html.
Therefore, your code should be like this: