Janney Adds Merrill Team Managing $800 Million in Connecticut

  • Seaport Wealth group to work in West Hartford, Mystic offices
  • Group includes senior vice presidents Griffen, Vaida

Janney Montgomery Scott, the brokerage founded more than 180 years ago, hired a team of five advisers overseeing more than $800 million in Connecticut.

The Seaport Wealth Management group, previously affiliated with Bank of America Corp.’s Merrill Lynch, handles funds for almost 900 households, according to a statement Monday from the Philadelphia-based company. The team includes senior vice presidents Ken Griffen and Paul F. Vaida and will operate out of two Connecticut offices, one in West Hartford and the other newly opened in Mystic.

Janney, a unit of Penn Mutual Life Insurance Co., has recruited from rivals including Morgan Stanley, Royal Bank of Canada and Wells Fargo to expand wealth-advisory operations. The latest addition is part of a push to win business with younger clients.

“The Seaport advisers span three generations, allowing them to better serve clients who are entering the prime earning years of their lives, especially at a time when the adviser workforce is aging,” Janney said. Susan Atran, a spokeswoman for Bank of America, declined to comment.

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