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7 days, $880M in new hires: Janney picks up talent from Merrill Lynch, Raymond James

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Within the span of a week, Janney Montgomery Scott has hired two teams that collectively manage $880M in client assets, according to statements by the firm.

The most recent hires include a father-daughter team from Merrill Lynch based in Mount Laurel, New Jersey – Begnaud Wealth Management. They oversaw $430 million in assets at Merrill, according to Janney.

Gary Begnaud had over 37 years of experience at the wirehouse, according to FINRA BrokerCheck records. His daughter, Amy Begnaud, spent six years with the firm. Angela Gavin, the team’s senior associate, had been with Merrill for more than 35 years.

“[Janney’s] stability and strong platform will allow us to keep the entrepreneurial spirit of our business, while growing and adapting to the changing landscape and preferences of today’s clients,” the senior Begnaud said in a statement.

Despite the coronavirus, Janney has kept up a steady recruiting practice in the past few months.

“The pandemic and remote work has limited some aspects of recruiting. However, Janney has invested in technology to allow us to effectively work remotely and to productively conduct virtual home office visits,” said Jeff Smith, Janney’s director of recruiting & business development, in an email.

The move comes on the heels of another team — this one with two parent-child duos — signing on with Janney, this one from Raymond James. The five-advisor team, who managed $450 million at their previous firm, are based out of Palm Beach Gardens, Florida.

Greg Young has 25 years of client experience, 19 of which were at Raymond James. His daughter, Beth Young, logged three. Jack Gary III brings 50 years of experience to the firm while his son, Brian Gary, has four years.

Jeff Sellers has 34 years of experience, according to BrokerCheck. Before joining Raymond James in 1997, he was at J.B. Hanauer.

“We are thrilled to welcome these highly regarded financial advisors to Janney,” Thomas Urban, Florida complex manager, said in a statement. “Their personalized wealth management approach is an excellent value-add to their clients and our culture.”

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