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5 days, 4 wirehouse brokers: Janney’s latest recruiting pull

Janney Montgomery Scott is on a recruiting roll. The Philadelphia-based firm landed four advisors managing $225 million in assets from Wells Fargo and Merrill Lynch in less than a week.

This is the latest in a wave of advisors that have recently come to Janney from the wirehouses. Last quarter Janney brought on 14 advisors managing over $1.1 billion in client assets.

Three of the newest advisors are arriving from Wells Fargo, which has been steadily losing brokers since a scandal over fake accounts broke out in 2016. The wirehouse’s headcount fell below 14,000 in its fourth quarter, a loss of 576 advisors since last January.

Wayne Howle and Jessica Hill Janney - January 23, 2019

Chase Bradley and Anthony Jessuck Jr. were the first to leave Wells Fargo last week, both of them registering at their new firm on Jan. 16, according to FINRA BrokerCheck. Bradley managed $116 million at Wells Fargo, according to Janney. He has 29 years of experience in the industry at Wells Fargo, A.G. Edwards and Prudential Securities, according to FINRA BrokerCheck. Jessuck has 16 years of experience at Wells Fargo, A.G. Edwards and Pruco Securities. He managed $50 million in client assets at Wells Fargo, according to his new employer.

The two advisors and senior registered private client associate Patty Grady are joining six others brokers in Janney’s Mystic, Connecticut branch, which opened in October 2016, according to the firm.

Wayne Howle was the third broker to leave Wells Fargo for Janney. He joined Janney Jan. 18. Howle managed $48 million at the wirehouse and will be moving into Janney’s Florence, South Carolina office, according to the regional broker-dealer. His new registration has not yet been processed by FINRA BrokerCheck. He is bringing along senior registered private client associate Jessica Hill.

Cathryn Budd, who managed $11 million in client assets at Merrill Lynch, joined Janney’s Atlanta branch Jan. 14. She was at Merrill Lynch for three years before making the move, according to FINRA BrokerCheck.

A spokeswoman at Wells Fargo declined to comment on the departures. A spokeswoman at Merrill Lynch did not respond to a request for comment.

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