Janney Montgomery Scott LLC (Philadelphia)

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. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. 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

Indirect Owners

The SEC currently registers 2 indirect owners.

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.

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