Janney scoops up talent from Wells Fargo in ongoing wirehouse exodus
Janney Montgomery Scott has once again benefited from the exodus of advisors from the major wirehouses, luring a financial advisor from Wells Fargo to its newly-opened Columbus, Ohio office.
Jeramy May brings 20-years of industry experience to Janney’s Columbus location, which was opened in January 2018. He joins senior vice president Scott Horowitz, who is also the wealth management and branch manager for the office. May previously managed $118 million in client assets at Wells Fargo.
Together, the two advisors have more than $215 million in client assets under management.
May spent 10 years with Wells Fargo, according to FINRA BrokerCheck records. Before Wells he was with Baird for eight years.
“Jeramy has dedicated his career to helping his clients achieve their financial goals by providing a superior level of personalized service that exceeds expectations,” Doran Young, Janney’s complex manager, said in a statement. “We look forward to providing him with the support he needs to continue delivering excellent service to his clients.”
‘The firm gives advisors the ability to choose who they do business with and doesn’t put limitations on minimum account size,’ one advisor says.
The Raymond James affiliated firm has been aggressively recruiting from wirehouses in recent months.
As of the end of 2017, Janney had approximately 780 advisors.
May was not available to comment. Wells Fargo declined to comment.
For more than a decade, wirehouse advisors have been fleeing their firms for smaller independent firms, and the trend seems to have accelerated recently.
Planners are ditching the wirehouses “because they have less freedom to price and market their business the way they want to,” Danny Sarch, recruiter and owner of Leitner Sarch Consultants, recently told On Wall Street.