Janney Montgomery Scott LLC

CRD#463
Investment Advisor Firm

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Learn more about Janney Montgomery Scott LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Janney Montgomery Scott LLC is a financial advisory company located in Philadelphia, Pennsylvania. Janney Montgomery Scott LLC controls $73.0 billion in assets throughout 216,397 client accounts, placing it among the largest investment advisory firms in the nation by assets under management (AUM). The company has a very large group, including 1,202 financial advisors. Janney Montgomery Scott LLC is not a registered broker-dealer, meaning the firm is not able to buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer firm to do so. Securities are tradable financial investments such as bonds, options and stocks.

    Janney Montgomery Scott LLC administers 159,146 of the firm's client assets on a discretionary basis. Discretionary management signifies that buy and sell choices are made by an investment advisor without needing the customer's permission. It also oversees 57,251 non-discretionary accounts with a total of $27.5 billion in assets under management. The firm's typical account size is $337,346. The average advisor at Janney Montgomery Scott LLC administers about 180 client accounts.

    The firm's main office is located at 1717 Arch Street, Philadelphia, Pennsylvania 19103. Janney Montgomery Scott LLC is permitted to serve clients across 51 U.S. states and territories.

    Assets Under Management

    $73.0 billion

    Number of Advisors

    1,202

    Disclosures

    No

    Office Location

    1717 Arch Street
    Philadelphia, PA 19103

    Janney Montgomery Scott LLC by the Numbers

    Total Assets Under Management

    $73.0 billion

    National Average: $8.6 billion
    Total Number of Employees

    2,242

    National Average: 64
    Total Number of Accounts

    216,397

    National Average: 375,227
    Average Account Size

    $337.3 thousand

    National Average: $23.0 thousand
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    Products and Services

    Janney Montgomery Scott LLC offers a variety of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and educational seminars. In the last fiscal year, it provided financial planning services to 15800 of its clients. It does sell products or offer services different than investment advisory services to its customers. Janney Montgomery Scott LLC is also affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer, trust company and insurance company or agency.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 6% of firms

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees for financial advisory services are based on which service is offered. However, fees charged by the firm most likely include any combination of the following fee types: asset-based, fixed, commission-based or other. Wrap fee programs, or the practice of bundling services for a single fee, are offered by the firm.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 1% of firms

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Offered by 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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    Types of Clients

    Janney Montgomery Scott LLC works with a number of different clients. It provides services to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities and corporations. Out of its 216,397 customers, Janney Montgomery Scott LLC's largest client is retail investors, but it also manages money for 67,852 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 31.36%
    • Other Individuals - 66.95%
    • Corporations - 0.99%
    • Charitable Organizations - 0.71%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Janney Montgomery Scott LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Janney Montgomery Scott LLC

    Charles Noble
    New Haven, CT
    Noel Simons
    Charlotte, NC
    Michael Rossley
    West Hartford, CT
    Karla St. Luke
    Atlanta, GA
    David Luke
    Greenville, SC
    Carmine Tango
    Bedminster, NJ
    Jeffrey Schultz
    Atlanta, GA
    Aaron Byrd-Leitner
    Philadelphia, PA
    Tammy Spradlin
    Roanoke, VA

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