June 18 Philadelphia-based brokerage Janney
Montgomery Scott LLC has hired a team of veteran advisers from
Morgan Stanley Wealth Management to join its private client
group in Maryland, Janney said on Tuesday.
Advisers Alfred DeRenzis and Scott Ford joined Janney in
late May from Morgan Stanley, where they managed $159 million in
client assets and had annual revenue production of more than
DeRenzis, who has worked in the advising industry for 32
years, joined Janney as a senior vice president. Ford, a 26-year
industry veteran, joined Janney as a first vice president. They
were joined by registered private client assistant Karen Seipp,
also from Morgan Stanley.
The team joined Janney's new Westminster, Maryland, office,
a satellite of the Baltimore branch.
Morgan Stanley Wealth Management, formed in the merger of
Morgan Stanley's wealth unit and Citigroup's Smith
Barney, is the larges U.S. brokerage by client assets and
Morgan Stanley declined to comment on the adviser
Janney also said on Tuesday that it hired Greg Torretta from
Ameriprise Financial Inc to join its private client
group as a senior vice president and branch manager of the
firm's Fort Lauderdale, Florida, office.
Ameriprise declined to comment on Torretta's departure.
Janney, owned by Penn Mutual Life Insurance Co, has 735
advisers, who are primarily based on the East Coast and manage
more than $58 billion in client assets.