A local branch of a national financial advisory firm is moving into downtown Grand Rapids.
Randy Renker, financial advisor, is moving his branch of St. Louis-based Edward Jones from its current northeast Grand Rapids location into the McKay Tower, at 146 Monroe Center St. NW, effective in January.
Renker is currently sharing space with another Edward Jones financial advisor at 4610 Plainfield Ave. NE.
The new 1,250-square-foot branch downtown will give Renker room to expand his client roster.
He also said the building’s proximity to a professional network, including the Grand Rapids Area Chamber of Commerce and local CPA and law firms, was a key part of the decision to move downtown.
“We are excited to be part of the downtown community, along with becoming more involved with the chamber,” Renker said.
Donna Dobias, currently working with Renker at the Plainfield location, will serve as the new location’s office administrator and the sole staff member alongside Renker.
“One of the biggest things, as far as our clients are concerned, is we are paying for their parking,” Dobias said. “They will be able to park at Ellis midtown and an Ellis lot behind the building.”
In 1969, the first Edward Jones office in Michigan opened in Grand Rapids, according to Renker.
Today, the firm has 69 branches in the Grand Rapids area. Renker’s branch will be the 70th and fourth located downtown.
Firms on the project
Amanda Millwood, of Grand Rapids-based Amanda M Designs, did the interior design for the renovated space.
Much of the office equipment was purchased locally, including furniture by Grand Rapids-based Steelcase.
The landlord for the building is McKay Property Holdings.
Dave Denton, of Grand Rapids-based DAR Development, and Hillary Taatjes-Woznick, of Grand Rapids-based NAI Wisinski of West Michigan, brokered the deal.
Renker started his career as a financial advisor at an Edward Jones office in Chicago in 2005. He has served in various roles within the company, including hiring team members, new financial advisor lead, new financial advisor trainer and mentor.
In 2015, he moved his practice to the shared office on Plainfield.
Previously, he worked as an engineer with Johnson Controls in Holland.
Renker is a member of the Economic Club of Grand Rapids and the Grand Rapids Area Chamber of Commerce. He also serves as president of the Grand Rapids North Rotary Club.
He earned a bachelor’s degree from Michigan State University in 1999.
Founded in 1922, Edward D. Jones & Co. LP, or Edward Jones, is a financial investment firm headquartered in Des Peres, Missouri.
In 2017, it had 43,000 employees and 7-million clients throughout the U.S.
Its parent company, The Jones Financial Companies LLLP, posted 2016 sales revenue of about $6.6 billion.