A team managing more than $100 million in client assets has left Janney Montgomery Scott to join Merrill Lynch, a spokeswoman said.

Advisor Jon Stevens and his father, Phil, an investment associate, joined Merrill's office in Scranton, Pa., in mid-March, said the firm. They report to Christopher Reber, complex director of the firm's Eastern Pennsylvania complex. Together, they generated more than $646,000 in annual revenues while at Janney, according to Merrill.

The elder Stevens has been in the industry since 1966, according to FINRA records. He started his career at Reynolds Securities. In 1983, he moved to Legg Mason. The younger Stevens joined him at the firm in 2003.  After the firm's merger with Smith Barney, they moved to Janney Montgomery Scott in 2009.

Earlier this month, Merrill said it had recruited a $2.5 million team from RBC. Advisors Ronald Slevin, George Gladman and Jared Stone, along with client associate Jeffrey Tucker, joined Merrill in New York. Previously, they had managed $300 million in client assets, according to a Merrill.

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