Industry Moves

Morgan Stanley Loses All-Female FA Team to Janney

Janney Montgomery Scott has poached an experienced team of all-female financial advisors from Morgan Stanley.

The Dupre Keating Group has joined Janney’s offices in Berwyn, Penn., and will maintain a presence in Janney’s Lewes, Del., office as well, according to a press release from the company.

The group includes financial advisors Dawn Dupre, who has 25 years of experience working with high-net-worth individuals and families; Megan Keating, who’s been working with affluent families for 20 years; Mary Anne Perrone, who has 40 years of experience working in financial services; Kathleen Fisher, who has 25 years of experience; and Sarah Smith, who started her financial services career in 2014 with Morgan Stanley.

Janney has been tapping wirehouses for financial advisors and managers.

In December, Janney lured an experienced branch manager from Wells Fargo. Over the previous two months, Janney nabbed several advisors form Wells Fargo as well. In December, Janney also scooped up an advisor from Webster Investments.

Morgan Stanley, meanwhile, lost hundreds of advisors last year. The firm had 15,468 wealth management representatives at the end of 2019, compared to 15,694 at the end of the fourth quarter of 2018.


Jessica Hopper Takes Over as Finra Enforcement Head

Finra has named Jessica Hopper as its new enforcement division head.

Hopper had been acting head of enforcement since September, when Finra’s enforcement chief, Susan Schroeder, announced her departure. Hopper, who was also promoted to executive vice president, will report to Finra CEO Robert Cook.

Hopper first joined Finra in 2004 as an enforcement attorney.

From 2005 to 2011, she served as the director of Finra’s Washington, D.C., office, and was then promoted to vice president heading the regulator’s regional enforcement program, according to the press release. She became senior vice president and deputy head of enforcement in 2016, Finra says.

Prior to joining Finra, Hopper worked on legal and compliance matters at Legg Mason Wood Walker from 2000 to 2004, according to the press release.

Schroeder was head of Finra’s enforcement unit since 2017, overseeing the consolidation of the regulator’s enforcement functions into a unified group in line with Finra360, the organization's self-evaluation and improvement initiative, as reported.