Janney nabs $350M team from Morgan Stanley
A Morgan Stanley team that managed more than $350 million in client assets left the wirehouse to join Janney Montgomery Scott, the regional firm said.
Advisers June Strunk and Shane O'Brien now operate from Janney's branch in Mystic, Connecticut.
Janney's seaside office, located near where the Mystic River meets the Long Island Sound, is relatively new. The firm opened it last October by recruiting a Merrill Lynch team that managed $800 million.
Of the firm's latest hires, Strunk had been with Morgan Stanley and predecessor firm Smith Barney since 1999, according to FINRA BrokerCheck records. O'Brien joined the wirehouse in 2015, after working at Prudential. Also joining the team is Lisa Cayer, senior registered private client assistant.
A Morgan Stanley spokeswoman declined to comment on the team's departure.
Janney has been on something of a recruiting push in recent weeks. The firm picked up Merrill Lynch adviser Kirk Kolligian, who oversaw $144 million and is also based in Connecticut at the firm's New Haven office.
And in Radnor, Pennsylvania, Janney hired an RBC team that managed $175 million in client assets. The group consists of advisers Steven Victor and Lisa Fouraker.