To staff its newest branch office, Janney Montgomery Scott turned to talent from a rival regional BD.
The firm hired two teams that were previously affiliated with Raymond James where they managed more than $290 million in combined client assets, a Janney spokesman said.
Janney, like Raymond James, has been an active recruiter, picking up a number of hires primarily from its larger wirehouse rivals. So far this year, Janney has hired 36 financial advisors overseeing more than $2.6 billion in assets. It’s added more than 230 advisors since 2015, according to a spokesman.
The firm’s new branch in Greenville, South Carolina, is its fifth in the state and the fourth Janney has opened in the Carolinas since 2017.
The new additions include Waingart Wealth Advisors, a four-person team led by Edwin Waingart. His teammates include George Koutsioukis, Julie Gawel and Christina Latham.
Waingart had been with Raymond James since 2013 and was previously affiliated with predecessor firm Morgan Keegan, according to FINRA BrokerCheck records.
The second team, Luke Capital Management, is led by advisor David Luke. His teammates are Cabrini Harnage and Charlotte Stillwell.
Luke is a 27-year industry veteran, according to BrokerCheck. Like Waingart, he’s been with Raymond James since 2013 and previously worked at Morgan Keegan.
Waingart and Luke’s “teams have worked in the same office for the last 14 years, which will help foster an environment for future growth,” Andy Kistler, Janney’s Southeast regional manager, said in a statement.
A spokeswoman for Raymond James declined to comment.
