Janney Montgomery Scott has landed a 24-year industry veteran who managed over $120 million in client assets for RBC Wealth Management.
Henry Faragalli III will be joining the firm’s Radnor, Pennsylvania office, which is led by complex manager Michael Brown.
“Janney’s culture allows me to meet the needs of my clients as I see fit,” said Faragalli. “Their open architecture platform also gives me the freedom to utilize the specific tools and resources that I know will benefit my clients the most.”
Faragalli is the latest hire for a firm that has been on a recruiting spree this year.
Regional brokerages and firms that assist breakaway advisors have been picking off top talent at the wirehouses.
Janney successfully poached another team from RBC’s nearby Conshohocken, Pennsylvania office earlier this year: Steven Victor and Lisa Fouraker, who oversaw nearly $175 million in client assets, signed on in May. Janney claims the three recent recruits generated a combined $1.7 million in annual revenue. RBC didn’t return a request for comment.
Janney’s win highlights the recruiting edge that regional firms have exploited in recent years.
“We’re pleased that Henry has joined Janney, and that he recognized the value of our boutique size and client-focused culture,” Brown said in a statement. “We look forward to the experience, expertise and insight Henry will bring to our branch and our community.”
Faragalli spent the past six years with RBC. He has prior experience at Morgan Stanley and Smith Barney, according to FINRA BrokerCheck records. Faragalli will be joining an office of 17 other financial advisors, according to the branch website.
