Janney Montgomery Scott's has quietly continued its growth efforts over the past few weeks.

The most recent small steps in November have definitely added up, including the addition of several advisors managing over $710 million in combined client assets, as well as the opening of a new branch office in Chicago.

Advisors join in key markets

In recent weeks, Janney has welcomed multiple experienced advisor teams across the country, reflecting its ongoing commitment to attracting top talent.

Among the most notable additions, Paul Butler and Elizabeth Ferraro, operating as Butler Private Wealth Group in Bedminster, New Jersey, joined from UBS. The team manages over $180 million in client assets. Butler, who has over four decades of industry experience, specializes in working with high-net-worth individuals, pension funds, and 401(k) plans, while Ferraro brings expertise in financial planning across estate, insurance, investment, retirement, and tax strategies.

Elsewhere, Bob Stiles, previously with Baird, joined Janney in Charlotte, North Carolina, with $300 million in assets under management. Stiles, a senior wealth management professional with nearly 45 years in the industry, is accompanied by Deidre Caldwell, a senior registered private client associate.

“Our advisor-centric culture provides the autonomy and resources he needs to grow his practice while delivering exceptional service,” said Tim Jones, Charlotte complex director, said in a November 19 announcement.

Other advisor hires include:

• Joseph Pardi in Charlotte, North Carolina, overseeing nearly $100 million in assets, joined on November 7 from Wells Fargo.
• John Uyeki in New Haven, Connecticut, managing $80 million in assets, joined on November 19 from Osaic.
• James Elliot in Mystic, Connecticut, managing more than $50 million in assets, joined on November 19, also from Osaic.

Prior to those moves, Janney added $1.1 billion in assets as it welcomed advisor teams from Kestra, LPL, and Raymond James from across the Eastern US. 

Continuing Midwest expansion

Janney has also opened a new branch office in Chicago, marking its continued push into the Midwest market. Ned Kennedy, an industry veteran with over 30 years of experience, will lead the new office as senior vice president and complex director. Kennedy previously held leadership roles at Wells Fargo Advisors, JPMorgan Private Bank, and Salomon Brothers.

“We’re excited to welcome Ned to Janney as we expand our Private Client Group in the Midwest,” Tom Galvin, Midwest regional director said in an announcement Wednesday. “Ned brings extensive experience in recruiting top talent and a strong network in the Chicago area, making him well-positioned to lead our growth efforts in this region.”

Kennedy expressed enthusiasm about the move, stating, “Janney’s boutique culture and client-centric approach create an ideal environment for advisors to best meet client needs. I’m looking forward to recruiting experienced advisors to the office and supporting the growth and success of our team in this dynamic market.”

Janney’s recent growth in Chicago builds on the success of its Capital Markets Group, which has added several public finance professionals over the past year.

Earlier in July, it was revealed that private fund giant KKR will be acquiring Janney under a definitive agreement with the Penn Mutual Life Insurance Company. That deal, which would include KKR establishing a broad-based equity ownership program for Janney’s 2,300 employees, is set to be completed in the fourth quarter this year.