Janney Montgomery Scott is on a hiring spree continued with the addition of three new advisors, the company said.
The new recruits include a father-son team from Merrill Lynch that managed $133 million in assets as well as a 30-year industry veteran from Brown Advisory, an independent wealth management firm.
Janney, a Philadelphia-based regional firm, has been growing steadily. In the first quarter of 2018, the firm hired 32 new financial advisors and private client associates, according to the company. That built on 38 new hires in the fourth quarter in 2017.
“I was attracted to Janney because of its boutique culture and focus on the client-advisor relationship,” Michael S. Federico, one of Janney’s new hires in Towson, Maryland, said in a statement.
Wells Fargo was among biggest losers as advisors jumped to other firms.
Federico spent 13 years at Brown Advisory and was previously at Morgan Stanley for six years, according to FINRA BrokerCheck records. He did not respond to comment on the value of his assets under management.
A spokeswoman for Brown Advisory Securities did not respond to request for comment on his departure.
A Janney spokeswoman did not immediately respond to a request for the advisor's AUM.
Father-son team Leo Connors and Leo Connors, Jr. were at Merrill Lynch for 22 and 13 years, respectively. They now operate from Janney’s office in New Haven, Connecticut.
A spokeswoman for Merrill Lynch did not respond to request for comment on his departure.
The Connors team follows another Merrill Lynch team that managed $1 billion and that left the wirehouse
