Timothy Tremblay Allegedly Made An Unsuitable Investment Recommendation

Timothy Tremblay (CRD #: 1201542), a broker registered with Centaurus Financial, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on November 30, 2022. Investors should know that this is the seventh investor dispute on his record. 

Investor Dispute

On September 30, 2022, an investor alleged that Timothy Tremblay recommended an unsuitable, high-risk, and illiquid investment. This dispute is pending.

Two disputes filed in 2013 similarly alleged that Timothy Tremblay recommended and purchased unsuitable investments. These disputes were collectively resolved for $238,751.10.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.

• Investments can be unsuitable because they are high-risk and more likely to cause losses for the client.
• Investments may also be unsuitable because they are illiquid. Certain securities are meant to be held for an extended time and can penalize investors with high fees if they try to cash out too soon.
• Trading activity can be quantitatively unsuitable, which means that the broker executed an excessive number of trades.
• Overall investment strategies can also be unsuitable—overconcentration in a singular stock or sector is a common example.

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

Background Information

Timothy Tremblay has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Timothy Tremblay is a registered broker in 16 states and the District of Columbia. He is also a registered investment adviser in California, New Mexico, and Pennsylvania.

He has also worked for the following firms:

• Washington Square Securities (CRD#:2882)
• Cruttenden Roth (CRD#:15407)
• Smith Barney (CRD#:7059)
• Prudential Securities (CRD#:7471)
• PaineWebber (CRD#:8174)

Kurta Law Can Help

If you worked with Timothy Tremblay and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.