Janney Tips Hat to Wells, Hilliard Lyons for New Tennessee Office
Janney Montgomery Scott, which has been inching beyond its base in the northeastern U.S., opened its first branch in Tennessee earlier this month with the help of recruits from Wells Fargo Advisors and JJB Hilliard W.L. Lyons.
Philadelphia-based Janney last week hired four advisors who were collectively managing “more than $330 million” in customer assets, it said in a news release. Their trailing 12-month production was $2.1 million, a Janney spokeswoman said.
The branch, in the city of Franklin, is led by Stephen M. Elder and Kim A. Richardson.
Elder had spent the previous 17 years with Louisville-based J.J.B. Hilliard, W.L. Lyons, where he worked from its Murfreesboro, TN, branch. He began his career as a licensed broker in June 1990 at Northwestern Mutual Investment Services and its successor Robert W. Baird & Co., according to his BrokerCheck history.
Richardson and two colleagues made the Janney jump last week from a Wells Fargo Advisors’ branch in Brentwood, TN, along with Sheala H. Nichols, who is the new branch’s operations manager. Prior to his 13 years at Wells, Richardson worked for four years at Morgan Stanley Dean WItter after beginning his career in 1998 with an 18-month stint at PaineWebber, according to BrokerCheck.
His other Wells colleagues now at Janney are advisors Chris Walker and Jamie M. Smith. Walker similarly joined Wells in 2004 for a 13-year journey after working for 7 years at J.C. Bradford and its successor company UBS Financial Services beginning in the fall of 1995. He began his career in 1991 with F.N. Wolf and also worked that year at Josephthal Lyon & Ross.
Smith, who hooked up with Wells’ Brentwood branch in 2011, first registered as a broker in 1994 at Smith Barney and worked at six other firms from 1996 until joining Wells in 2011, according to his BrokerCheck history.
Wells lists 19 other brokers on its Brentwood branch’s .
Elder, Richardson and Smith are graduates, respectively, of the University of Tennessee, Middle Tennessee State University and Arkansas State University, according to a news release from Janney.
“Our growth throughout the southeastern region is a testament to our firm’s stability, responsiveness to client needs, and unprecedented home office support,” Andy Kistler, Janney’s Southeast regional manager, said in a prepared statement.
Janney has about and has been aggressive in some of its recruiting. In addition to the new Tennessee outlet, its Southeast locations include one office in Georgia, seven in Florida, one in West Virginia, three in Virginia, four in South Carolina, five in North Carolina and one in Washington. It also has a single branch in Texas in the city of Grapevine, according to .