Janney snags 2 advisors from Wells Fargo with $180M
Continuing its steady expansion clip in 2019, Janney Montgomery Scott added two advisors from Wells Fargo—its third raid on the wirehouse in three months.
Brett Vetensky left Wells Fargo to join the regional broker-dealer’s Garden City, New York, branch and Kenneth Wapnitsky is now installed in Janney’s Fairfield, Connecticut, office. Together, the two advisors bring about $180 million in AUM to the firm.
Wapnitsky and Vetensky left Wells Fargo, with its 13,828-advisor head count, for the smaller firm, which has approximately 850 advisors nationwide.
Wapnitsky logged 11 years at Wells Fargo and, before that, 18 years at A.G. Edwards.
Vetensky spent 10 years at Wells Fargo before shifting to the regional BD sector, and prior to that did five-year stints at Morgan Stanley and Merrill Lynch, respectively.
Janney has been consistently scoring teams from wirehouses.
Three of the four new hires have more than 20 years of industry experience.
The Philadelphia-based firm has hired 225 financial advisors since January 2015, including 27 new recruits in the first two quarters of this year. Newly added advisors include a $350 million team that moved to Janney from Merrill earlier this month.
“We really have asset-rich advisors that provide a quality service,” said George Keith, complex manager of Janney’s Connecticut branch offices.
Keith credited his complex’s growth to a “combination of the attractiveness of a firm” and an environment in which advisors feel like they’re “really contributing.”
A Wells Fargo spokeswoman declined to comment on the move.