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Janney Nabs 14 Wirehouse Reps, as Baird Grabs 4: Recruiting Roundup

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Janney Montgomery Scott says it recruited  14 financial advisors with about $1.1 billion in combined client assets in the first quarter. They moved to Janney from Merrill Lynch and Wells Fargo.

“Janney had another successful quarter recruiting leading financial advisors with experience and expertise in all aspects of wealth management,” according to Jerry Lombard, president of the firm’s Private Client Group. “We’re happy to welcome them and are proud these advisors recognized the value of our entrepreneurial platform and client-focused culture.”

The new employees include four teams, six individual advisors and seven associates, who are based in eight branch offices.  As of April 1, Janney has about $80 billion in assets under advisement; the firm has recruited 200-plus advisors since 2015.

The advisors moving to Janney from Merrill include: Philip Fried and Robert Mouro with the Fried Mouro Group of Raleigh, North Carolina; Cathryn Budd of Atlanta; Michael Hassell of Radnor, Pennsylvania; and Harlon Neal of Goldsboro, North Carolina.

Joining from Wells Fargo are: Karl Ernst and Roberto Rosa of the Ernst Rosa Wealth Management Group of Miami; Donna Judge and Scott Trevethan of Judge-Trevethan Wealth Advisors in Glastonbury, Connecticut; Frederick Leonard and Charles Leonard of Leonard Wealth Management in Mystic, Connecticut; Wayne Howle of Florence, South Carolina; and Anthony Jessuck Jr., of Mystic.

Baird News

Baird says that an eight-member team in Dayton, Ohio, working with $725 million in assets has joined its broker-dealer. The group moved from UBS.

“We are excited to welcome the Family Wealth Partners to Baird and grow our presence in the Dayton market,” according to Brian Kurtz, market director for Baird’s Private Wealth Management business. “Their impressive years of experience and commitment to providing the best financial advice and service to clients make them a tremendous asset to our team.”

Family Wealth Partners includes advisors John Bradley, Travis King, Brian Rathbun and Tony Schock, as well as Patrick Beyerle, associate financial advisor and, CFP. Bradley, King and Rathbun each have 20 or more years of work in the business.

These additions follow Baird’s purchase of Hilliard Lyons. In addition, Baird added 62 financial advisors to its Private Wealth Management group in 2018.

The unit now has about 930 financial advisors with client assets of $140 billion.

More Developments

Raymond James says it added FAs Bruce Hoffman, Michelle Orcutt and Matt Paul to its independent channel from Wells Fargo in Corpus Christi, Texas. The members of Coastal Bend Wealth Partners work with about $240 million in client assets and have yearly fees and commissions of about $1.7 million.

“We were looking for a firm that has a client-first approach and an independent-minded, forward thinking culture,” according to Orcutt. “The freedom and flexibility that Raymond James offers were important factors for us and our decision to make the move.”

Orcutt began her financial-services career in 1990 as a banking regulator and then a banker. She joined A.G. Edwards in 2002; it became Wachovia Securities and later Wells Fargo Advisors.

Hoffman started in the business almost 30 years ago at Merrill Lynch. And Paul, began work as an advisor with Dean Witter in 1989, moving to A.G. Edwards in 1991.

“They are an experienced group of financial advisors who have built their businesses with a client-first approach,” said Kirk Bell, Central regional director for Raymond James Financial Services, in a statement. “We’re pleased they chose Raymond James as their partner as they continue to grow their independent business and enhance their wealth management services to clients.”

Separately, Wells Fargo Advisors Financial Network, the bank’s independent channel, named Jeff Taylor as regional head of the Pacific South. Taylor will be responsible for independent practices and recruiting in Arizona, Southern California, Hawaii, Nevada, New Mexico and Utah.

“With close to 25 years of experience in the financial services industry, we feel Jeff is the perfect choice to oversee the Pacific South region,” according to Alex David, head of branch development at FiNet

Taylor most recently served as senior vice president and regional brokerage manager for the San Francisco region of Wells Fargo Advisors. He joined Wells Fargo Advisors — known then as Wachovia Securities—in 2006 and today serves on the United Negro College Fund board in San Francisco.

Meanwhile, a spokesperson confirmed that Morgan Stanley expanded the leadership team of Graystone Consulting. Graystone is an institutional investment consulting business that works with over $300 billion in institutional advisory assets and includes 50-plus institutional consultant teams.

Jodie Gunzberg, previously managing director and head of U.S. Equities at S&P Dow Jones Indices, joined Morgan Stanley as head of the Graystone Investment Office.  

The newly established Investment Office aims to expand Morgan Stanley’s institutional research coverage and further tap into the Morgan Stanley’s resources, while pursuing new business and strengthening client relations, according to the firm.