Janney Montgomery Scott added 44 veteran financial advisors with some $3.4 billion in assets to its Private Client Group in 2019. The greatest number of registered reps — 32 — came to the firm from three wirehouse firms: Wells Fargo (16), Merrill Lynch (11) and Morgan Stanley (5).
With the recruited FAs, Janney is getting closer to having $100 billion in private-client assets, according to the firm — which reported some $97.5 billion in client assets under advisement as of late 2019.
In addition to 11 teams, Janney brought on five account executives and more than 65 client associates in 2019. The firm says it has added 240-plus advisors since 2015 and had a total of 850 advisors as of Sept 30, 2019.