Janney Montgomery Scott LLC (Philadelphia)


Janney Montgomery Scott LLC is a large advisory firm based in Philadelphia. It manages $36.62 billion of regulatory assets for 135,416 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

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Janney Montgomery Scott provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for approximately 10,500 clients. On top of advisory services, the firm doesn't engage in other business activities.

Janney Montgomery Scott: assets under management

The assets under management (AUM) of Janney Montgomery Scott LLC is $36.62 billion. The firm's AUM has grown by 14909% since the beginning of its operation, and $157.11 million of the total AUM is attributable to clients outside of the United States.


The firm manages $21.85 billion in discretionary accounts and $14.78 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $244.6 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $320.52 thousand.
Janney Montgomery Scott has custody of $33.95 billion in cash and securities for 135,248 clients in total and acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 52% of the total AUM. The second-largest asset type is investment and business development companies, which make up 29% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Janney Montgomery Scott LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Timothy Charles Scheve serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Timothy Charles Scheve is high net worth individuals with 30,578 clients and $18.9 billion of assets under management. Among the 9 most similar advisory firms, Janney Montgomery Scott has the 3rd highest percentage of high net worth individuals out of all clients.


The amount of regulatory assets under management is $36.61 billion for 135,415 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Janney Montgomery Scott doesn't advise any private funds.

Careers at Janney Montgomery Scott LLC

The company employs 1,972 people that are either part- or full-time employees. 54 percent of the employees work as investment advisers or researchers. 1,141 employees are registered as investment adviser representatives with the state securities authorities.

There are 22 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Timothy Charles Scheve has been acting as President since 1 Aug 2007. Eliot Daniel Duhan joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Norman Taylor Wilde Chief executive officer, president & manager 1 Sep 1955 Other 466823
George Thomas Croonquist Manager & senior vice president 1 Apr 1963 Other 57537
James Maurice Meyer Manager & senior vice president 1 Feb 1972 Other 333111
John Joseph Gray Manager & executive vice president 1 Oct 1972 Other 228035
Ronald Michael Berardino Manager & executive vice president 1 Mar 1974 Other 18817
Rudolph Charles Sander Chairman of the board of managers 1 Jan 1977 Other 410073
Charles Beckwith Cook Vice chairman of the board of managers 1 Jan 1978 Other 52929
Richard Allen Purkiss Manager & senior vice president 1 Nov 1980 Other 368939
Charles John Sullivan Manager & senior vice president 1 Feb 1981 Other 439517
Independence Square Properties Llc Llc member 1 Jul 1982 75% - 100% 23-1918844
Ashton Goodliff Eldredge Manager & senior vice president 1 Dec 1982 Other 76855
Ashton Goodliff Jr Eldredge Manager & senior vice president 1 Dec 1982 Other 76855
Alan Miller Schankel Manager & senior vice president 1 Apr 1987 Other 412578
James William Wolitarsky Chief financial officer, treasurer, manager, senior vice president 1 Jan 1992 Other 1535038
Robert Eugene Chappell Manager 1 Jan 1994 Other 1470285
Michael Charles Foley Manager & senior vice president 1 Apr 1994 Other 210639
William Rea Brandreth Manager & senior vice president 1 Jul 1995 Other 28886
Nancy Stricker Brodie Manager 1 Jul 1995 Other 2138794
Howard Bruce Scherer Chief compliance officer & 1st vice president 1 May 1996 Other 1235668
David John Cunningham Secretary, manager, srop & senior vice president 1 Apr 1999 Other 58740
Richard Anson Thornton First vice president, assistant treasurer, controller, 1 Aug 1999 Other 709125
David John Cunningham Manager & senior vice president 1 Oct 2000 Other 58740
Howard Bruce Scherer Secretary, manager & senior vice president 1 Oct 2000 Other 1235668
Timothy Patrick Sullivan Crop 1 Dec 2000 Other 2934870
Rudolph Charles Sander Co-chairman of the board of managers 1 Jan 2001 Other 410073
Norman Taylor Jr Wilde Co-chairman of the board of managers 1 Jan 2001 Other 466823
James William Wolitarsky President, ceo & manager 1 Jan 2001 Other 1535038
Michael Charles Foley Manager & executive vice president 1 Jan 2001 Other 210639
Richard Anson Thornton Cfo, treasurer, manager & senior vice president 1 Jan 2001 Other 709125
Stephen Paul Miller Manager & senior vice president 1 Feb 2001 Other 335647
Joseph Patrick Fenton Srop & senior vice president 1 Mar 2001 Other 206311
Jerome Francis Jr Lombard Manager & senior vice president 1 Apr 2001 Other 1066832
Jerome John Murphy Director of compliance, 1st vice president 1 Apr 2001 Other 2796596
John Joseph Chuff Manager & senior vice president 1 Jan 2002 Other 1205736
John Patrick Hughes Manager & senior vice president 1 Jan 2002 Other 252597
Frederic Daniel Chu Chief information officer, senior vice president 1 Oct 2002 Other 1862071
Mark Douglas Knott Manager & senior vice president 1 Dec 2002 Other 1113034
Annmarie Caruso Crop 1 Jan 2003 Other 1558582
Robert John Bennett Manager & senior vice president 1 Jan 2003 Other 18397
Jerome Francis Jr Lombard Executive officer 1 Jul 2003 Other 1066832
Lynn Marie Denofa Crop 1 Apr 2004 Other 1274917
John Henry Donegan Crop 1 Jul 2004 Other 1372279
Jerome John Murphy Chief compliance officer, 1st vice president 1 Oct 2004 Other 2796596
Christopher Joseph Munafo Manager & senior vice president 1 Jan 2005 Other 1336979
Robert William Kampmeinert Manager 1 Mar 2005 Other 263678
Robert Spittal Iii Mcculloch Manager 1 Mar 2005 Other 730963
Mark Daniel Luschini Manager 1 Mar 2005 Other 1376489
John Michael Ivan Chief compliance officer 1 Apr 2005 Other 1292150
Stanley Arnold Singer Executive vice president & manager 1 Apr 2005 Other 425221
Mark Douglas Knott Senior vice president & chief financial officer 1 Jun 2005 Other 1113034
Peter Paul Iii Lydzinski Chief compliance officer of investment advisor 1 Dec 2005 Other 4459773
Robert Paul Slomin Cco-investment advisory 1 Jan 2006 Other 3043306
Peter John Vogt Manager 1 Jan 2006 Other xxx-xx-xxxx
Randall Anthony Carbone Executive vice president 1 Dec 2006 Other 862150
Mark Richard Eskin Manager 1 Dec 2006 Other 3199452
Binnie Sue Footer Manager 1 Dec 2006 Other 722414
Patrick Joseph Maas Vice president 1 Dec 2006 Other 1032136
William Lippincott Rulonmiller Senior vice president 1 Dec 2006 Other 838123
Stuart Michael Singer Vice president 1 Dec 2006 Other 870079
Christopher Redvers Wilkinson Senior vice president 1 Dec 2006 Other 864329
Stephen M Prichard Executive vice president 1 Dec 2006 Other 4795144
George Thomas Jr Croonquist First vice president 1 Dec 2006 Other 1156411
Scott Henry Aschoff Chief operations officer 1 Feb 2007 Other 1475106
Robert William Kampmeinert Manager/president/ceo 1 Jul 2007 Other 263678
Timothy Charles Scheve President/ceo/manager 1 Aug 2007 Other 1319072
Robert William Kampmeinert Executive vice president 1 Aug 2007 Other 263678
Anthony Mathew Miller Senior vice president, treasurer, financial operations principal 1 Dec 2007 Other 4597116
John Michael Ivan Chief compliance officer, general counsel 1 Dec 2007 Other 1292150
Randall Anthony Carbone Executive vice president 1 Dec 2007 Other 862150
Stephen M Prichard Executive vice president 1 Dec 2007 Other 4795144
Robert William Kampmeinert Executive vice president 1 Dec 2007 Other 263678
John Davenport Jr Maine Executive officer 1 Jan 2009 Other 1235490
Robert Harold Bishop Manager 1 Jan 2009 Other 1157386
Stacey Gean Englander Manager 1 Jan 2009 Other 420133
James Joseph Jr Mckenna Manager 1 Jan 2009 Other 2121170
Marion Stark Halliday Chief compliance officer 1 Apr 2009 Other 4598752
Gina Elizabeth Hyde Co chief compliance officer-capital markets 1 Nov 2009 Other 2812751
Eileen Claire Mcdonnell Director 1 Jan 2010 Other 2483663
Christine Marie Marrazzo Vice president, manager 1 Jan 2010 Other 2426211
Andrew David Iv Banks Financial consulant 1 Jan 2010 Other 1715217
Sidney Edward Gosser Manager 1 Jan 2010 Other 724301
Kevin Lee Bradley Manager 1 Jan 2012 Other 1302592
Mark Andrew Henderson Manager 1 Jan 2012 Other 4255993
Scott Michael Nash Manager 1 Jan 2012 Other 1126026
Sheila Spainhour Shaffer Manager 1 Jan 2012 Other 1230244
Wayne Wesley Wales Manager 1 Jan 2012 Other 2101522
Gregory Burns Mcshea General counsel 1 Dec 2012 Other 2870963
Joseph David Jr Culley Manager 1 Jan 2014 Other 4275987
Gordon Albert Eide Manager 1 Jan 2014 Other 854079
Megan Elizabeth Mulvihill Manager 1 Jan 2014 Other 2552421
Charles Joseph Iii Noble Manager 1 Jan 2014 Other 715430
David Michael O'malley Director 1 Nov 2014 Other 4468593
Salvatore Dinubile Rosfp 1 Jan 2015 Other 2965563
Daneen Elizabeth Downey Deputy general counsel; investment advisory cco 1 Jun 2015 Other 4758790
Christopher Scott Thurston Investment advisor cco 1 Sep 2015 Other 3112696
Dorothy Marie Allison Ia cco 1 Aug 2017 Other 6847471
Scott Charles Bellicini Rosfp 1 Dec 2017 Other 1236524
Jessica Ellen Lempa Ia cco 1 May 2018 Other 5276453
David Michael Mullan Principal operations officer 1 Oct 2018 Other 2739186
Eliot Daniel Duhan Chief compliance officer 1 Nov 2018 Other 4705354
Roseann (Nmn) Chavanne Co-chief compliance officer 1 Nov 2018 Other 1190223

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
The Penn Mutual Life Insurance Company Shareholder 1 Aug 1999 75% - 100% 23-0952300
The Penn Insurance And Annuity Company Shareholder 1 May 2011 Other 23-2142731

Based in Philadelphia

The principal office where Janney Montgomery Scott LLC performs its advisory services is located at 1717 Arch Street, Philadelphia, PA 19103, which is also the mailing address of the firm. An additional office of the firm is in Baltimore, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 215-665-6000 or by fax 215-665-0824. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at janney.com.