Janney opens Houston with $3.3B Raymond James team; Ameriprise recruits three RBC teams

Janney Montgomery Scott opened a Houston office with a team led by The Edward Fitzpatrick Group, which managed approximately $3.3 billion at Raymond James.

The Houston office follows Janney's 2025 entry into Texas with a Dallas office.

Tracked activity on the liftout lists five advisors: Lance Murphy, Allison Spinelli, Christin Simon, James Edwards and Sean Fitzpatrick. One headline on the move counted four advisors and put their client assets at nearly $3.5 billion. A separate report said the group managed approximately $3.3 billion at Raymond James and that Murphy oversaw more than $200 million there.

The Houston opening landed in a broader recruiting roundup. Ameriprise recruited three RBC teams with nearly $1.2 billion in client assets, and Wells Fargo added nearly $900 million in advisor assets. Raymond James lost Mark Southwell to Wells Fargo and, in the other direction, gained a $245 million pair from UBS Financial Services in Paramus — Kenneth "Ken" Montal and Peter Q. Morris, who joined Raymond James & Associates, according to tracked activity.

Scale is what separates the Houston move from the rest of the day's activity. Three RBC teams combined brought Ameriprise nearly $1.2 billion; Wells Fargo's additions totaled nearly $900 million; the Houston group alone is described at nearly $3.5 billion in client assets, roughly $3.3 billion of it managed at Raymond James.

The coverage describes one team and one office in Houston, and does not give Janney's total client assets or how many advisors the firm expects to add in Texas. Whether the Fitzpatrick liftout is the whole of the Houston build or the first piece of it is not established by the reporting.