Attention is currently being drawn to an experienced financial advisor from Santa Barbara, Timothy Sweeney (CRD# 2669172). A recent complaint from an investor has accused him of giving advice on investments with unsuitably high risks, particularly in the realm of bond investments. So, who exactly is Timothy Sweeney, and what validity does this claim have?
About Timothy Sweeney
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Sweeney is a proficient broker and investment advisor associated with Centaurus Financial, where he operates under the name Tremblay Financial Services. Licensed in multiple states, including California, Idaho, Maine, and Maryland, he holds impressive qualifications. He has successfully passed six securities industry examinations and holds a commendable 27 years of experience in the securities industry.
His career’s journey spans several firms, including Raymond James Financial Services and American Express Financial Advisors, among others. Since 2015, he has been a key player at Centaurus Financial.
The Nature of the Complaint
This isn’t the first time Sweeney’s investment advice has raised eyebrows. In fact, his BrokerCheck reports multiple investor complaints. The most recent was filed in June 2023, and it alleges that Sweeney recommended an “unsuitably risky, high-risk, illiquid investment” in corporate bonds. The case, still pending, alleges damages of $45,000.
Despite these accusations, Sweeney has put forth a staunch denial, stating that “the allegations are completely without merit”. He insists that the investment was suitable for the customer and that the customer acknowledged an understanding of its features and risks, doing so in writing.
Past Complaints
Rewind to 2003, Sweeney faced an earlier complaint that accused him of engaging in unsuitable trading during his tenure at Raymond James Financial Services. This case was settled in 2004 for $9,999.
Need Assistance?
Haselkorn & Thibaut, a seasoned law firm, is keen on representing investors from all across the United States, helping them lodge claims against financial advisors and investment firms. You’re not alone for those who have suffered losses in their investments.
Be it due to poor advice on bond investments or other forms of misguidance; our firm has the experience and expertise to help you navigate through the legal process. Don’t let financial losses weigh heavy on your spirits. For a confidential and free consultation, reach out to us via our contact form or a swift call to 1-800-856-3352.
A Final Thought
In a world where financial advice is a whisper away, it’s crucial to question – how well do you know your financial advisor. Is their advice suited to your financial status and risk appetite? In an industry where trust forms the bedrock, these questions demand careful thought. With Haselkorn & Thibaut at your side, you’ll have steadfast assistance to address any concerns.
