The recruiting wars are heating up at the regional firms. Philadelphia-based Janney Montgomery Scott has recruited two teams from Morgan Stanley Smith Barney with total assets of $380 million. The recruiting win will expand the firm’s southern footprint, said Jerry Lombard, president of Janney’s private client group.
The new FAs include Peter Sampson, who will lead The Sampson Group, Kenneth P. Wiland Sr., and R. Morgan Purvis. All are joining Janney’s Aiken, S.C. office.
So far this year, Janney has picked up 11 advisors, including a 20-year Merrill veteran with $250 million in assets. This comes on the heels of a two-year lull in recruiting. The firm brought on eight new reps in 2010 and 10 new advisors in 2011...
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(Read more from Staff Writer, Diana Britton on her blog, Yield of Dreams.)