Janney Montgomery Scott has named Kevin Reed as new products chief for wealth management, replacing David Penn who stepped down to return to the world of financial planning.
Previously, Reed was managing director of taxable fixed income at the firm. He will now report directly to CEO Tim Scheve and also join the firm’s executive committee, On Wall Street reported.
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Reed, in his new role, will oversee Janney’s products and solutions for the firm’s 725 advisors.
Reed joined Janney as head of the firm’s municipal markets group in 2007. He previously served as municipal investment portfolio manager at Radian, and as a head of fixed income trader at LPL Financial.
In 2009, he was made managing director of taxable fixed income markets.
"We will continue to invest heavily in the areas that we believe are important to clients; wealth accumulation, estate planning and retirement income," Reed was quoted as saying by the publication.
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By GlobalData"These are the things our advisors are getting questions about," he added.
