Janney Montgomery Scott has poached a group of advisors managing over $220 million collectively from two rival firms.
The new additions build on the firm’s aggressive approach to hiring top talent.
“Janney has experienced a successful streak of recruiting over the last two years, adding more than 100 experienced financial advisors during that period,” Jerry Lombard, president of Janney’s Private Client Group tells On Wall Street.
Lombard adds that the firm plans to keep up its efforts.
“Our geographic expansion thus far has focused on growth within the contiguous states of our East Coast footprint. We will continue to seek out growth opportunities that make sense for our advisor and client service model without outrunning our supply lines,” he says.
Among the newest hires are former RBC advisors Gary Halter, and his son Benjamin. The team previously managed $140 million, according to their new employer.
They made the move with senior registered private client associate Sharland Baker and joined Janney in Glastonbury, Connecticut.
The elder Halter was with RBC for 13 years, according to FINRA BrokerCheck records. Prior to RBC he spent 24 years with Advest. Benjamin Halter was with RBC for a year before making the move to Janney.
RBC did not respond to requests for comment on the move.
Former J.P. Morgan Securities advisor Daniel Mickely joins Janney Montgomery Scott in Columbus, Ohio. Mickley spent 13 years with J.P. Morgan Securities and Chase Investment Services, according to BrokerCheck records.
He previously oversaw $83 million in assets. A spokesman for J.P. Morgan Securities declined to comment on the move.
The advisors were drawn to Janney’s technology and boutique environment, they tell On Wall Street.
“The size of the firm is ideal,” Gary Halter says.
Mickley also highlighted the firm’s growth and opening of a new branch location near him.
“I was very happy to see Janney move into Columbus Grandview earlier this year. The convenient location of the new office and the firm’s planning-based approach to client service were big factors in my decision,” Mickley says.
