Janney Montgomery Scott has added two Merrill Lynch groups responsible for managing $800 million in combined assets. The groups will merge and be known as Seaport Wealth Management of Janney Montgomery Scott.
Seaport’s team members come from the Griffen Bloxsom Group of Merrill Lynch as well as the GVS group of Merrill Lynch. The firm will be led by Ken Griffen and Paul F. Vaida, both serving as senior vice presidents of wealth management, and Royden A. Grimm and Barry J. Sulak, both first vice presidents of wealth management. Jared W. Bloxsom will serve as vice president of wealth management.
“For the past few years, my colleagues and I have been searching for ways to turn our business into something that we would proudly call ‘world class,’” said Vaida, who was a senior vice president in the Global Wealth Management arm of Merrill and was a member of both Griffen Bloxsom and GVS, along with Bloxsom. “As we searched, it became evident that we needed to make a significant change.”
He added, “We’ve joined a firm that seeks to offer clients the same things we do: best-in-breed planning, guidance, investments and service, as they continue on their journey toward retirement.”
Seaport Wealth Management will operate out of Janney’s offices in Mystic and West Hartford, Connecticut.