Janney hauls in $860M in new hires

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Janney Montgomery Scott hauled in a passel of new recruits in the third quarter managing a combined $860 million in assets.

Most who signed on with the regional broker-dealer did so last month, according to the firm.

The additions build on the firm’s successful recruiting efforts in the first half of 2020 when Janney hired 26 financial advisors managing more than $2.2 billion in client assets, according to the company.

Janney now has 850 advisors in total.

F. Houghton Phillips II, who joined Janney from Merrill Lynch on Sept. 30, brought the largest potential AUM haul with him having managed $330 million at his old firm, according to his new employer. Phillips had worked at Merrill Lynch since 1997, according to FINRA BrokerCheck records.

Phillips is based in Richmond, Virginia. Moving with him are Shelli Staples, private client associate and Michelle Shuman, registered private client associate.

F. Houghton Phillips II, who joined Janney from Merrill Lynch. Moving with him are private client associate Shelli Staples (right) and registered private client associate Michelle Shuman.

In Westbrook, Connecticut, Janney hired a former UBS team led by Garrett Hofer. An advisor of 19 years, Hofer had worked at UBS since 2013, according to BrokerCheck. He’s joined by Kathryn Montana, private client associate and Ryan Walker, private client associate.

Janney brought aboard Gary McGovern, a former Raymond James advisor, in Boston. McGovern managed $121 million in assets at his prior employer. An advisor of 31 years, McGovern had been with Raymond James since 2011.

Former Morgan Stanley advisor Luke Dowd joined Janney in New York. Dowd has seven years of experience, all of it spent at Morgan Stanley.

Janney’s remaining hires all came from Wells Fargo.

The regional BD hired away advisors Thomas Wilson and Josh White in Mansfield, Ohio. Moving with them is Stacy Wolford, senior registered private client associate. The team managed $124 million. In Saratoga Springs, New York, Janney hired Stephen Krakower, an advisor of eight years. And in Battle Creek, Michigan, it picked up Paul Townsend. He spent 23 of his 26 years in the business at Wells Fargo.

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Recruiting Regional BDs Wirehouse advisors Janney Montgomery Scott