Despite the coronavirus, Janney adds a dozen advisors

Janney Montgomery Scott courtesy of Janney
Register now

Janney Montgomery Scott grabbed a dozen new recruits in the first quarter, marking strong results that came in only slightly lower from a year ago.

The firm hired 12 advisors who managed nearly $1 billion collectively with their previous employers. By contrast, in the first quarter of 2019, Janney brought on 14 advisors who together managed $1.1 billion.

“During a period of uncertainty related to coronavirus, our stability and client-centric platform continues to attract advisors,” Jerry Lombard, president of the firm’s Private Client Group, said in a statement.

Overall the subsidiary firm of The Penn Mutual Life Insurance Company recruited 44 incoming advisors in 2019. At the end of the quarter, the firm was managing more than $82 billion in client assets.

The coronavirus quarantine has posed challenges to transitions. Thomas Seger of Newtown, Pennsylvania-based Seger Wealth Management counted himself lucky to complete the process.

“I at least started the process before things got more bad,” says Seger, who began the transition meeting with clients in person before the quarantine prevented him to continue doing so. “If I waited two or three weeks, I don’t think I would have gotten it done.”

The Dupre Keating Group left Morgan Stanley to join Janney Montgomery Scott. They include, left to right, Kathleen Fisher, Megan Keating, Dawn Dupre, Mary Anne Perrone and Sarah Smith.

The new additions work out of seven different branch offices of Janney’s private client group in Delaware, New Jersey, North Carolina, Ohio and Pennsylvania. They include four teams, five individual advisors and two private client associates.

The five advisors of the Dupre Keating Group dropped Morgan Stanley for Janney. They include Dawn Dupre, Meagan Keating, Mary Anne Perrone and Sarah Smith, along with Kathleen Fisher, the firm’s senior registered private client associate. The group operates from offices in Berwyn, Pennsylvania and Lewes, Delaware.

Two other former Morgan Stanley financial advisors who went to Janney, Tahj Holden and Sheryl Oswald, are based in Red Bank, New Jersey, and Lancaster, Pennsylvania, respectively.

Bedminster, New Jersey-based brokers Anthony Tango and Carmine Tango of The Tango Group came to Janney from Merrill Lynch.

Daniel Fisher of Columbus, Ohio-based May Fisher Wealth Management left Wells Fargo Advisors. Another Wells Fargo veteran, advisor Jimmy Hare, along with his private client associate Cynthia Jones, joined Janney in Goldsboro, North Carolina.

For reprint and licensing requests for this article, click here.
Coronavirus Career moves Recruiting Independent BDs Janney Montgomery Scott Morgan Stanley Wells Fargo Advisors