We have been able to confirm that Tim will be moving to another firm, but still locally, along with an assistant; however, there are several contractual and ongoing issues in-play. For one, the transfer of licensing from one firm to another will take some time.
While Tim and his late father are listed as owners on the current Edward Jones office, typically Edward Jones leases their offices under leases with 5-year option periods, meaning the St. Louis firm will control the property until their lease obligations expire. It is unclear what will happen with the property.
Much like “captive” insurance agents, such as State Farm, the book of business is considered an asset of the firm, not the local investment representative. While customers can defect to the old representative at the new location and firm, the agent is typically barred from openly soliciting their business.
These matters can be complex, but we expect to know much, much more within the coming couple weeks.
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In a letter dated August 27th, 2021, Thomas P. Curran with Branch Development of Edward Jones advised clients that Timothy K. Meek has left the firm.
Several years back, Meek had joined his father, Terry, who began his career with Edward Jones in the 1980’s. The dual investment representative (IR) branch arrangement was a rarity in the Edward Jones network of offices; typically, only one IR per office is the norm.
The duo continued to build a local office that was one of the biggest among Edward Jones offices, a St. Louis-based firm that specializes in providing hands-on, local advice for those looking toward retirement, education plans, and other savings and investments. Terry passed away earlier this year.
The firm says Financial Advisor Austin Feeney will assist clients in the local office located at 150 N. Hwy 54 W in Linton. The letter invites clients to stop in or make a phone call with any questions. The local number is (812) 847-2289.
This story will be updated as additional information becomes available…