Janney Montgomery Scott has strengthened its presence in the Eastern US by onboarding three advisor teams with a combined total of over $1 billion in client assets.
The firm's latest additions include Personal Wealth Solutions, which joined its network last week, along with its more recent introductions of Markley Beckley Wealth Advisors and HD Wealth Partners.
Personal Wealth Solutions, managing nearly $400 million in assets, joined Janney’s new office in Mansfield, Ohio. The team is led by financial advisors Jeremy Swank, Greg Kibler, and Debbie Williams, with private client associate Lynne Richards. Previously affiliated with Kestra, this group is expected to bolster Janney’s operations in the region.
"We’re excited to welcome Personal Wealth Solutions as part of our continued growth in Ohio, highlighted by the opening of our new office in Mansfield to support the team,” said Scott Horowitz, complex director at Janney, said in a statement.
Fast forwarding one week, Janney announced the addition of Markley Beckley Wealth Advisors and HD Wealth Partners, which oversee over $700 million in AUM combined.
Markley Beckley Wealth Advisors, a six-person team formerly with LPL, is now based in Janney’s Cambridge, Ohio, office. The group includes Brent Markley, Grant Beckley, and supporting associates, handling over $275 million.
Separately, HD Wealth Partners, operating from Cincinnati, Ohio, and St. Petersburg, Florida, brings a five-person team managing $450 million. Led by advisors Matt Hager, David Dennerll, and Matthew Hager, they were previously associated with Raymond James.
“These latest additions demonstrate Janney’s continued appeal to advisors seeking independence and autonomy,” said Jim Dornan, regional director. “We are well-positioned for further growth and intently focused on supporting advisors and their clients.”
With those eight advisor additions, the firm has roughly two months left to match its first-half recruitment pace of 12 new advisors in 2024.
Janney, with its 2,300 employees and 900 financial advisors overseeing fourghly $150 billion in assets, entered into a definitive agreement to be acquired by KKR in July, a deal that was set to close in the fourth quarter. The firm also signaled its interest in the world of philanthropy in October with the unveiling of the Janney Charitable Giving Fund, a dedicated DAF program for its advisors and clients.
Challenging conditions have limited deals in 2024 but what about next year?
New report reveals trends and challenges that the sector is facing.
Traders are more confident that rates will be cut next week.
Strategists believe economic case is strong enough to win investment.
Appointment would be another plus for digital assets industry.
"The profitability of the CLO is going to be very attractive," said CIO at Flat Rock Global.
"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.
