TIMOTHY JAMES BRESLIN Barred by FINRA

On August 3, 2023, the Financial Industry Regulatory Authority (FINRA) barred TIMOTHY JAMES BRESLIN a former financial advisor/broker who was accused of allegedly falsifying financial statements.

According to the FINRA report, without admitting or denying FINRA’s findings, TIMOTHY JAMES BRESLIN consented to the sanction and to the entry of finding that he allegedly provided falsified bank account statements and checks to FINRA in response to a request for documents, made false statements to FINRA in response to a request for information, and made false statements to FINRA in testimony requested.

FINRA’s findings stated that the requested information concerned the allegations in a Form U5 that was allegedly filed by TIMOTHY JAMES BRESLIN's member firm which reported that Breslin had been discharged for initiating unfunded automated clearing house (ACH) transfers to his personal account and initially lacked candor regarding the same. In response to the request for information, TIMOTHY JAMES BRESLIN allegedly stated that he had traveled with his brother and a friend and each of these individuals wrote him a check for $5,000 to reimburse him for expenses on the trip. Breslin then allegedly claimed he deposited both checks into his bank account, but the checks bounced when he deposited them. However, Breslin's statements were allegedly false because he did not receive or deposit a $5,000 check from his brother or friend during the relevant period of the request.

According to FINRA, a further request was made by FINRA for TIMOTHY JAMES BRESLIN to provide copies of the checks and that he identifies the corresponding check deposits on his bank account statements. Breslin allegedly responded with three falsified checks. FINRA requested and took Breslin's on-the-record testimony. The morning of Breslin's testimony, he allegedly produced another falsified version of his bank account statements. Breslin also allegedly provided false testimony by claiming he had received and deposited checks from his brother and friend and that he had submitted genuine bank account statements and checks to FINRA.

According to a recent article from InvestmentNews.com, the transfers were allegedly executed during Breslin’s time at RAYMOND JAMES & ASSOCIATES, (from 2015 to 2022), in Devon, Pennsylvania. According to FINRA’s BrokerCheck, on Sept. 19, 2022, Raymond James discharged Breslin following the allegations of “Individual alleged to have initiated unfunded ACH transfers from unrelated financial institution to personal account at the firm, and initially lacked candor when asked regarding cause.”

On February 1, 2023, TIMOTHY JAMES BRESLIN was discharged from B. RILEY WEALTH MANAGEMENT of Bryn Mawr, PA, following the allegations of “Individual provided falsified documents in response to a FINRA inquiry.” Breslin was with them from 10/13/2022 - 03/02/2023.

According to the InvestmentNews.com article, the ex-broker, TIMOTHY JAMES BRESLIN, now operates his own registered investment advisory firm, TJB Wealth Management, a firm based in Spring City, Pennsylvania. InvestmentNews.com stated that the firm allegedly reports approximately $15.47 million in assets under management, nearly all in non-discretionary accounts.

FINRA’s BrokerCheck, available to the public on FINRA’s website, stated that TIMOTHY JAMES BRESLIN was registered in the securities industry for 25 years and was listed with 6 firms.  Breslin has 5 disclosures on his FINRA CRD report, one is a “Regulatory” barring him from acting as a broker or otherwise associating with a broker-dealer firm, two of the disclosures are, “Customer Disputes,” and two are, “Employment Separation after Allegations.”

If you’ve suffered financial losses due to the actions or recommendations of the former RAYMOND JAMES & ASSOCIATES and B. RILEY WEALTH MANAGEMENT, both in Pennsylvania, former broker/financial advisor, TIMOTHY JAMES BRESLIN, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee if no recovery.