The registered securities broker-dealer and investment advisory firm already has approximately 60 offices nation-wide and 160 advisors, according to Frank McPartland, chief operating officer at JHS. However, this office will be its first in the Minneapolis area.
"We are excited about the Midwest and look to grow more in the area," McPartland said in a phone interview.
With 27 years of experience, Mark Hennings will be both branch manager in charge of building out the office while also managing his own clients. He was formerly at Piper Jaffray for over 20 years and most recently worked with RBC Wealth Management where he was a vice president.
"It was a friendly move," McPartland observed. "We use RBC as our clearing firm and have a very good relationship with them. We don't take anyone that's not a friendly move."
Minneapolis, Minn.-based RBC was not immediately available for comment.
Hennings managed around $75 million in client assets according to McPartland and has already transferred over more than 90% of those client assets.