GunnAllen brokers find new home with old boss
About 30 brokers who used to be with the defunct broker-dealer GunnAllen Financial have found a new home — with their old boss, John Sykes
JHS Capital Advisors Inc., the firm launched by former GunnAllen chairman John Sykes, now has about 120 brokers and advisers, including the GunnAllen recruits.
According to Eileen Canady, director of strategic development for JHS, the goal is to reach 500 within the next five years.
Not every GunnAllen broker is a shoo-in to land a job at JHS, she noted.
“We have very strict hiring guidelines; it’s not automatic,” Ms. Canady said. “We’re not Gunn. We’re saying we’re creating a new kind of firm. You need to fit in and believe in our values and vision. We may have previous relationships, but our team has many previous relationships.”
Production is, of course, part of the equation. On the wealth management side of the business, for example, advisers would need to bring in about $300,000 annually, another JHS executive told InvestmentNews shortly after the firm opened its doors in December.
JHS Capital Advisors is comprised of a brokerage unit and a wealth management unit led by Mary Kennemur, a Merrill Lynch recruit.
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