One of the most senior and longstanding employees at Edward Jones, the country's largest brokerage firm with over 17,600 advisors, is retiring from the company after 36 years.
Dan Timm, the co-leader of Branch Development and a member of the company's Executive, Management and Audit Committees, plans to leave at the end of the year.
His last day will be Dec. 31, according to a filing with the Securities and Exchange Commission.
Timm joined Edward Jones in 1983 as a financial advisor in Iowa and became a general partner in 1998. He held numerous other roles at the company before heading up Branch Development, overseeing the recruitment and training for financial advisors and branch office administrators, and other related activities.
A native of St. Louis, where Edward Jones is headquartered, Timm led a corporate identity project that helped almost 5,000 branches at the time incorporate the new identifier and logo in 1996, according to his Edward Jones bio. Edward Jones could be reached to comment on his departure.
More than three decades at Edward Jones has "blessed him with opportunities and experiences, and financially," Timm told WealthManagement.com. He said he plans to work more with his existing family foundation and other philanthropic causes in retirement. On Wednesday, Timm was in the Dominican Republic working with the Pujols Family Foundation. He is a national board member for the not-for-profit organization that seeks help those living with Downs Syndrome and the impoverished in the country.
"I'm titling my next chaprter 'give it away,'" Timm said.
On Jan. 1, Penny Pennington became only the sixth managing partner—and the first woman—to lead Edward Jones, which has more than 7 million clients and advises on more than $1 trillion in assets.