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In the News

Janney Sweetens the Pot for Advisor Recruits

Posted by Barbara Herman

Financial Advisor-IQ

Barbara Herman Quoted
By Murray Coleman

After years of promoting growth from within, regional broker-dealer Janney Montgomery Scott is boosting recruiting bonuses for new advisors. But it’s not shooting for a big bump in headcount. Rather, Janney is taking a targeted approach — hoping to lure top producers from national brokerages, mainly on the East Coast.

“It’s a smart move on their part,” says Barbara Herman, a recruiter at Chester, N.J.-based Diamond Consultants. “Janney’s improved transition package means it remains one of the most competitive among major regional brokerages.” National broker-dealers offer plumper back-end recruiting bonuses, she points out, which typically are stretched over several years and awarded only if advisors meet certain asset and production hurdles. But Janney’s beefed-up package should give the firm more ammunition in competing for top performers, says Herman, by putting more money on the table up front.

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About Barbara Herman

Senior Vice President – Known for her sound advice, unique perspectives and ability to identify creative solutions. Barbara has developed deep and longstanding strategic relationships with financial services firms – from wirehouses to boutiques, as well as the diverse independent space – and works with some of the most sophisticated teams and individual advisors. Learn more...

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