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Janney opens new office with $330M team

Janney Montgomery Scott continued its Southeast expansion, opening a Tennessee office with four veteran advisors who managed $330 million in combined assets, the firm says.

A former wirehouse manager also joined the new office, which is in Franklin, Tennessee. The move builds on Janney's recruiting efforts in the region. In June, the regional firm opened its fourth office in North Carolina as part of its expansion.

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“Our expansion into Tennessee will allow us to cultivate new client relationships throughout the great volunteer state, and show Janney’s commitment to further growth in this region,” Jerry Lombard, president of the firm's Private Client Group, said in a statement.

Three of the new recruits, Kim Richardson, Jamie Smith and Chris Walker, come from Wells Fargo’s Brentwood, Tennessee office. Richardson and Walker worked at the wirehouse for 13 years, according to FINRA BrokerCheck records. Smith joined the wirehouse seven years later in 2011.

This year has seen more moves, bigger moves and more expensive moves.
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Richardson began his career at Painewebber in 1998 while Smith started at Smith Barney in 1994. Walker got his start in the industry with F.N. Wolf in 1991, according to FINRA BrokerCheck records.

Stephen Elder joins Janney’s new office from Hilliard Lyons where he worked for 17 years. Elder started career his in 1990 at Northwestern Mutual, FINRA BrokerCheck records show.

Wells Fargo declined to comment on the departures and Hilliard Lyons could not be reached for immediate comment.

Joining the advisors is Wells Fargo branch operations manager Sheala H. Nichols, according to Janney.

The regional firm has picked up a number of new hires so far this year. Last month, another Wells Fargo team, who managed $288 million in client assets, moved to Janney's Connecticut office.

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