Timothy Jefferson Suspended After Misappropriating Client’s Funds

Timothy Jefferson (CRD# 5004750, aka Tim Jefferson, Timothy Fleming Jefferson) is a previously registered broker and investment advisor last employed with Aegis Capital Corp. (CRD# 15007) of Brentwood, TN. His previous employers include Ameriprise Financial Services, LLC (CRD# 6363) and Metlife Securities Inc. (CRD# 14251), of Franklin, TN, and Metropolitan Life Insurance Company (CRD# 4095) of Fayetteville, TN. He has been in the industry since 2005.

Ameriprise discharged Jefferson on 10/16/2023 for “impermissible use of account login credentials for one client, his spouse.”

On 5/16/2024, his spouse filed a customer dispute alleging that her husband, also her advisor, had accessed her account and misappropriated funds from her accounts. This claim is currently pending.

On the same date, Aegis discharged Jefferson after he failed to respond to FINRA’s requests for information regarding FINRA Rule 8210 on April 11, 2024, to which he responded. FINRA sent a second letter on April 23, 2024, with a courtesy copy sent to Aegis. This time, Jefferson failed to respond, and the firm was unable to reach Jefferson to discuss his status.

On 6/12/2024, The Tennessee Securities Division filed a record in Jefferson’s CRD indicating that he had “engaged in dishonest and unethical business practices” as both a broker and an investment advisor. This entry is currently pending.

On 6/24/2024, FINRA issued a final ruling on Jefferson after his failure to respond to requests for information, with a suspension effective July 18, 2024, barred in all capacities from any activity with any FINRA member. If he does not respond or request termination of the suspension, he will be permanently barred as of September 27, 2024.

FINRA’s Rule 8210 gives FINRA the authority to examine any relevant books or records of any broker or broker-dealer. Even after someone is no longer registered with a broker-dealer, FINRA has the authority for as long as two years to request access to documents.

Failing to provide these records on request violates FINRA Rule 9552. If the individual fails to produce the requested records within 21 days of service, FINRA can then suspend them until they complete the required corrective action, or permanently bar them from any association with a member broker-dealer.

Did You Invest With Timothy Jefferson?

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