Timothy Sweeney: Tremblay Financial Advisor Faces Bond Complaint

Santa Barbara financial advisor Timothy Sweeney (CRD# 2669172) recently received an investor complaint alleging he recommended unsuitably risky bond investments. 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. Sweeney’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in June 2023, alleges that as a representative of Centaurus Financial, he “recommended a high-risk, illiquid and unsuitable investment” in a corporate bond product. The pending complaint alleges damages of $45,000.

“I vehemently deny any wrongdoing and assert that the allegations are completely without merit,” Mr. Sweeney wrote in a statement included in the pending complaint’s disclosure. He asserted that the investment was suitable for the customer and that the customer “confirmed in writing” that he understood its features and risks.

A earlier investor complaint, filed in 2003, alleged that as a representative of Raymond James Financial Services, he engaged in unsuitable trading. In 2004 the complaint reached a settlement of $9,999.

According to the Financial Industry Regulatory Authority, Timothy Sweeney holds 27 years of securities industry experience. Based in Santa Barbara, California, he has been a broker and an investment advisor with Centaurus Financial since 2015, doing business as Tremblay Financial Services. He is also registered with the firm’s offices in Westlake Village and Santa Maria, California. His registration history includes JP Turner & Company (Santa Barbara, California; 2007-2015), Brookstreet Securities Corporation (Santa Barbara, California; 2004-2007), Raymond James Financial Services (St. Petersburg, Florida; 1999-2004), Robert Thomas Securities (St. Petersburg, Florida; 1996-1999), American Express Financial Advisors (Minneapolis, Minnesota; 1995-1996), and IDS Life Insurance Company (Minneapolis, Minnesota; 1995-1996). His credentials include the passage of six securities industry qualifying exams: the General Securities Sales Supervisor – Options Module Examination, or Series 9; 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 California, Idaho, Maine, and Maryland. (Information current as of August 5, 2023.)

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