Janney Montgomery Scott recruited a team that managed in $185 million in client assets as it continues a planned expansion in the Southeast, a spokesman says.
With its new hires, Janney is opening a new office in Goldsboro, North Carolina, its fourth location in the state, according to the company.
"This office opening represents the commitment we have to build on the reputation and success of Janney Montgomery Scott in this region and be a contributing member of the community," Andrew Kistler, the firm's Southeastern regional manager, said in a statement.
Janney has 105 branch locations, the Philadelphia-based company says.
The new hires, adviser Jesse G. Parks and senior registered private client assistant Alice S. Royal, joined from SA Stone Wealth Management, an independent investment firm.
Parks has 35 years of industry experience and spent most of his career at Wachovia and Sterne Agee, according to FINRA BrokerCheck records.
Royal started her career at Wachovia in 1998 and left the firm five years later at the same time as Parks to join Sterne Agee, according to BrokerCheck records. They moved to SA Stone Wealth Management in 2013.
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The new recruits, who previously worked at Wells Fargo Advisors and Janney Montgomery Scott, also pointed to the firm's affiliation with Raymond James in making the move.
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They left to have more freedom in how they work with their clients, one of the new hires says.
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A spokesperson for SA Stone Wealth Management could not be immediately reached for comment.
Earlier this week, Janney lost an adviser from its New York office who oversaw $92 million in client assets to Steward Partners. The adviser says he left for a technology “upgrade” at Steward Partners, which is affiliated with Raymond James.
