Janney opens Houston office with four advisors from Raymond James

Janney Montgomery Scott opened a Houston office with four financial advisors who collectively manage nearly $3.5 billion in client assets. All four were previously affiliated with Raymond James, according to the firm's Oct. 16 announcement.

The advisors are Sean Fitzpatrick and James "Jim" Edwards, both managing directors/investments who lead the Edwards Fitzpatrick Group; Christin Simon, a vice president/investments; and Lance Murphy, a senior vice president/wealth management. Allison Spinelli joins the group as a senior registered private client associate.

The four advisors average just under $875 million in client assets each. Fitzpatrick and Edwards lead the Edwards Fitzpatrick Group, which Simon joins; Murphy arrives under his own senior vice president title.

Kevin Reed, president of Janney's Private Client Group, said the hires demonstrate why experienced advisors are choosing the firm, pointing to "greater flexibility, personalized support, and the capabilities they need to serve complex clients." Fitzpatrick said the team took "a very deliberate approach" to selecting a partner and that accessible leadership and colleagues who took time to understand the practice weighed in the decision.

Raymond James has been on both sides of the recruiting traffic. In August this publication reported that Wells Fargo's FiNet added two California teams from Raymond James. Raymond James answered by hiring a Wells Fargo veteran.

Houston follows Janney's 2025 entry into Texas, which began with a Dallas office and the addition of West Haven Private Wealth. Frank Amigo, the firm's Gulf regional director, called the Houston group "an outstanding foundation in the market," and the release says Janney sees opportunities to expand in Houston and other markets across the state.