Janney Montgomery Scott LLC: Financial Analysis
Dating back to 1832, Janney Montgomery Scott LLC was created as a financial firm that strives to provide comprehensive financial advice and quality services to individual, corporate, and institutional investors. Janney Montgomery Scott LLC is an independently operated subsidiary of the Penn Mutual Life Insurance Company; furthermore the firm is members of the New York Stock Exchange (NYSE), the Financial Industry Regulatory Authority (FINRA), and the Securities Investor Protection Corporation (SICP). The company is a broker-dealer registered in 53 states and territories, and is a rapidly growing financial firm that manages over 100 offices along the East Coast. Janney Scott Montgomery Scott LLC has developed a wealth management approach, that
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Janney Montgomery’s total assets have risen approximately $420 million from last year, totaling over $3.4 billion for the period ending December 31, 2015.Cash and cash equivalents equals $5 million. Last year Janney Montgomery Scott had $16,500,000 in the segregated cash account but as of December 31,2015 the firm did not have any cash segregated in a special reserve account for the benefit of the customer. The equity ratio for 2015 was 5.8%, down from last year’s which was …show more content…
The company has elected to use the alternative method permitted by Rule 15c3-1, which requires that it maintain minimum net capital, as defined, equal to the greater of $1,000,000 or 2% of aggregate debit balances arising from customer transactions, as defined. The NYSE may prohibit a member firm from expanding its business or paying cash dividends/distributions if resulting net capital would be less than 5 % of aggregate debit items, as defined, and may require a member firm to reduce its business if its net capital is less than 4% of aggregate debit items, as defined. At December 31, 2015, the company’s net capital was $92,808,655 which was $86,566,402 in excess of 2% of aggregate debit items, as defined. The company’s net capital percentage was
Janney Montgomery’s total assets have risen approximately $420 million from last year, totaling over $3.4 billion for the period ending December 31, 2015.Cash and cash equivalents equals $5 million. Last year Janney Montgomery Scott had $16,500,000 in the segregated cash account but as of December 31,2015 the firm did not have any cash segregated in a special reserve account for the benefit of the customer. The equity ratio for 2015 was 5.8%, down from last year’s which was …show more content…
The company has elected to use the alternative method permitted by Rule 15c3-1, which requires that it maintain minimum net capital, as defined, equal to the greater of $1,000,000 or 2% of aggregate debit balances arising from customer transactions, as defined. The NYSE may prohibit a member firm from expanding its business or paying cash dividends/distributions if resulting net capital would be less than 5 % of aggregate debit items, as defined, and may require a member firm to reduce its business if its net capital is less than 4% of aggregate debit items, as defined. At December 31, 2015, the company’s net capital was $92,808,655 which was $86,566,402 in excess of 2% of aggregate debit items, as defined. The company’s net capital percentage was