Janney Montgomery Scott has an unusually long history, as the firm has been around since the 1830s. Some of its advisors have also received a handful of industry awards and titles over the last few years, including Barron's Top 1,200 Advisors by State, Forbes Best-in-State Wealth Advisors, Forbes Best-in-State Women Wealth Advisors and more.
This is a fee-based firm with over $100 billion in assets under management (AUM). The Philadelphia-based financial advisor has over 1,200 advisors managing the assets of well over 200,000 clients. The firm specializes in individual portfolio management and financial planning, though it also works with businesses and retirement plans.
Janney Montgomery Scott Background
Janney Montgomery Scott has a long history in the financial services industry. In fact, the firm can trace its history all the way back to 1832. Anthony M. Miller is the firm’s president and CEO.
The team of advisors at Janney holds a wide range of advisory certifications. These include chartered retirement planning counselor (CRPC), certified financial planner (CFP), accredited investment fiduciary (AIF) and more.
Janney Montgomery Scott Client Types and Minimum Account Sizes
Janney Montgomery Scott accepts a range of clients, including non-high-net-worth and high-net-worth individuals, pension and profit-sharing plans, charitable organizations, government entities, insurance companies and corporations.
The firm requires different minimum initial investment amounts for its various advisory programs. These amounts range from $5,000 to $100,000, depending on the program and services you require.
Services Offered by Janney Montgomery Scott
Janney Montgomery Scott offers an array of services, including:
- Portfolio management
- Asset allocation planning
- Investment policy development
- Portfolio analysis
- Portfolio rebalances
- Performance monitoring
- Financial planning
- Investment planning
- Estate planning
- Retirement planning
- College fund planning
- Wealth management
- Asset protection
- Charitable gift planning
- Business planning
- Pension consulting
- Investment advice
- Periodic plan statements
- Selection of outside advisors or managers
Janney Montgomery Scott Investment Philosophy
Janney Montgomery Scott touts on its website that as part of its wealth management approach, it implements strategic financial plans that utilize various financial products and services. The firm also says its mission is to be the highest standard of success in financial relationships.
When it comes to specific investment decisions, the firm's advisors generally employ long-term investment strategies. This is done as opposed to short-term investing, which tends to focus on taking advantage of riskier market movements. The firm invests in mutual funds, exchange-traded funds (ETFs), annuities, managed account programs and individual stock and bonds. The composition of your portfolio will depend on your risk tolerance, time horizon, financial goals and more.
Fees Under Janney Montgomery Scott
In Janney Montgomery Scott’s SEC-filed Form ADV, the firm specifies a maximum flat fee of 2.00% for all of its advisory programs. The firm also offers 11 fee-based wrap fee programs. These differ from standard fee schedules in that they combine all advisory, transactional and custodial fees into a single rate. The firm’s advisory fees are typically billed quarterly in advance.
What to Watch Out For
Janney Montgomery Scott has 41 total disclosures listed on its Form ADV. All of these are regulatory in nature.
Certain advisors at Janney Montgomery Scott can earn additional compensation from specific investments or insurance products. Note that this can create a potential conflict of interest. However, the firm’s fiduciary duty legally requires it to act in clients' best interests.
Opening an Account With Janney Montgomery Scott
There are a number of options for opening an account with Janney Montgomery Scott. You can either find an advisor through the firm's online tool or you can set up an appointment with an advisor by contacting them at (215) 665-6000.
All information is accurate as of the writing of this article.
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