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Read MoreCentaurus Advisor Tim Tremblay Denies Investor Complaints
Santa Barbara financial advisor Tim Tremblay (CRD# 1201542) recently received an investor complaint alleging he recommended an unsuitable and high-risk investment. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Centaurus Financial, doing business as Tremblay Financial Services.
Mr. Tremblay’s BrokerCheck report discloses seven investor complaints. The most recent, filed in September 2022, alleges that as a representative of Centaurus Financial, he recommended an unsuitable, high-risk, and illiquid investment in a corporate bond product. The pending complaint alleges unspecified damages. In a statement on the disclosure, he wrote that he “vehemently” denies the allegations, which he describes as “completely without merit.”
An earlier investor complaint, filed in 2015, alleged that as a representative of Centaurus Financial, he did not inform the customer of an investment’s maturation term. The complaint reached a settlement of $4,300.
A third investor complaint, filed in 2013, alleged that he misrepresented and recommended unsuitable investments in fixed annuity, mutual fund, and real estate products. The complaint reached a settlement of $119,375.55.
A fourth investor complaint, filed in 2013, alleged he did not properly invest her portfolio. The complaint reached a settlement of $119,375.55.
A fifth investor complaint, filed in 1992, alleged unsuitable investment recommendations, fraud, misrepresentation of material facts, and negligence while he was a representative of Prudential Securities. The complaint evolved into an arbitration proceeding before a FINRA panel, which ordered the firm to pay damages to the customer of $168,630.
According to the Financial Industry Regulatory Authority, Tim Tremblay holds 38 years of securities industry experience. Based in Santa Barbara, California, he has been a broker and an investment advisor with Centaurus Financial since 2003, doing business as Tremblay Financial Services. He is also registered with the firm’s offices in Westlake Village and Santa Maria, California. His past registrations include Washington Square Securities, Cruttenden Roth, Smith Barney, Prudential Securities, and Painewebber. His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, the District of Columbia, Florida, Illinois, Kansas, Kentucky, Michigan, New Mexico, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Washington. (Information current as of October 26, 2022.)
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