Janney Montgomery Scott just lured an advisor team with more than $400 million in client assets from competing regional broker-dealer Stifel Financial, Janney says.
For three out of the four advisors on the team, it’s not their first time being hired at the firm.
Janney’s newest team is made up of Timothy Gormley, Paul Furlong, Kevin Keane and Kathleen Zelenka.
With Keane as the exception, Gormley, Furlong and Zelenka each spent at least four years with Janney more than a decade ago, according to FINRA BrokerCheck. Gormley and Furlong both left for Ryan Beck & Co., before it became a subsidiary of Stifel in 2007. Zelenka landed at Wells Fargo Advisors before moving to Stifel in 2012, according to BrokerCheck.
The team also includes four private client associates Amber Heary, William Heinz, Diane Kowalko and Laura Casey.
The advisors returned to Janney because they preferred the firm’s advanced technology platform and the location of the Newtown, Pennsylvania branch near Janney’s headquarters in Philadelphia, Furlong said in an email. The team did not respond to additional requests for comment.
A Janney spokeswoman did not comment on the hire.
Janney has been on a recruiting spree. The team follows other recent hires for the regional BD, including a team of five managing more than $2 billion in assets, which joined Janney in May.
Stifel also has been recruiting heavily, recently gaining advisors from Wells Fargo, Morgan Stanley and Raymond James managing more than $1 billion.
Both regional BDs have been recruiting advisors primarily from wirehouses.
A spokesman at Stifel did not respond to request for comment on the departures.