Janney Recruits RBC, Wells Fargo Advisers Managing $250 Million

  • Goles joins with team in Baltimore, Sarpu in Connecticut
  • Brancato comes from RBC to Red Bank, New Jersey office

Janney Montgomery Scott, the brokerage founded more than 180 years ago, hired financial advisers from Royal Bank of Canada and Wells Fargo & Co. who oversee a combined total of more than $250 million in assets.

Ann Marie Brancato joined in Red Bank, New Jersey, from RBC, according to a statement Thursday from Philadelphia-based Janney. Former Wells Fargo advisers Christopher Goles and Kenneth Sarpu work in Baltimore and Glastonbury, Connecticut.

Janney, a unit of Penn Mutual Life Insurance Co., has brought on 23 advisers to its distribution network this year, adding business from rivals including Morgan Stanley and Bank of America Corp.’s Merrill Lynch. Private Client Group President Jerry Lombard in April announced the addition of five financial advisers from Wells Fargo, bolstering Janney’s presence in Ohio and Virginia.

The new groups “are highly regarded in their communities and valued additions,” Lombard said in the statement. “We’re pleased that these advisers see Janney as the best firm for their clients.”

Nicole Garrison, a spokeswoman for RBC, declined to comment. Wells Fargo’s Jack Grone had no immediate comment.