Janney Grabs Advisors with Nearly $470M in AUM

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Janney Montgomery Scott recruited six advisors who oversaw nearly $470 million in combined client assets, a spokeswoman said.

The hires move the firm closer to its goal of recruiting 50 financial advisors this year.  In 2015, the firm picked up more than 30 advisors last year, according to the spokeswoman.

Jerry Lombard, president of the Janney's Private Client Group, said in a statement that the new additions will bolster the Philadelphia-based firm's footprint along the east coast.

"More and more quality advisors are finding Janney to be a top destination in the industry and a great alternative to larger firms because our culture and business focus predominantly supports our advisors and, in turn, enables an unwavering focus on meeting client needs," Lombard said.

The new recruits had an average AUM of $78 million and an average production of $680,000, according to Janney.

Three of the new hires came from Wells Fargo. Roger Giraud joined Janney in Providence, R.I. Giraud, a 23-year industry veteran, had been with Wells Fargo since 2006, according to FINRA BrokerCheck records.

In Washington, Janney recruited former Wells Fargo advisor Mitchell Lerner, who had also been with the wirehouse since 2006. Industry veteran Richard Ranone also joined Janney from Wells Fargo. Ranone, based in Providence, has 28 years of industry experience, according to BrokerCheck records.

James Routhier moved to Janney from Oppenheimer & Co., where he had been since 2012.

Two advisors made the move from BB&T Scott & Stringfellow. John Irby IV, who had been with BB&T and its predecessor firms since 1995, joined Janney's office in Raleigh, N.C. And Jeffrey Purdon, who has 23 years of industry experience according to BrokerCheck records, joined the regional brokerage firm in Atlanta.

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