Janney Montgomery Scott continues to flex its recruitment muscles, drawing another high producing team from wirehouse competitor UBS.
With more than two decades of experience in the financial services industry, Peter Hecht joins Janney's Mount Laurel, N.J. branch as first vice president/wealth management.
His appointment marks the 25th advisor Janney has picked up this year, many of which, such as Jeff Smith who transferred from Morgan Stanley Smith Barney, have come from larger wirehouse firms.
"As the year progresses, we anticipate our growth to continue with the addition of similarly successful advisors," Jerry Lombard, president of the firm's Private Client Group, said.
Hecht is joined by Steven Ries, an account executive, who worked with him at UBS as part of the Hecht Investment Group and helped Hecht oversee over $100 million in assets.
UBS declined to comment saying they do not generally comment on departures.