T h e F i n a n c i a l a d v i s o r e x p e r i e n c e pittsburgh i m a g i n e Y o u r s e l F at J a n n e Y P R I V A T E C L I E N T G R O U P

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P R I V A T E C L I E N T G R O U P

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Janney’s focus has been, and will continue to be, the long-term for our Financial Advisors and for our clients. Our history of over 180 years gives us the knowledge to understand that even turbulent market cycles can and will be weathered when a long-term perspective is maintained.

We have a time-tested history of financial and

ownership stability, with a strong equity capital base and ownership by The Penn Mutual Life Insurance Company, one of the largest mutual insurance companies in the nation based on capital. Our long-term relationship with Penn Mutual continues to permit us the independence to operate our business privately and securely. Both Janney and Penn Mutual have conservative balance sheets, and combined with an unbroken

string of profitable years, we continue to uphold

our commitment to our clients. Standard & Poor’s rating of A+ (Strong) of Penn Mutual gives Jan-ney, by extension, one of the highest credit ratings of any U.S.-based broker-dealer.

Like many successful and experienced Financial Advisors

in your position, your career has taken you on an exciting

and fulfilling path, leading you to where you stand today.

Reflecting upon the places from where you have come—and

looking ahead to those where you one day hope to go—your

professional career has brought you here.

When considering a move, it’s important for you, your family

and your clients that you make the right decision; and the right

decision means finding a firm where the culture, platform,

support and professional development provide you with the

opportunities to grow your business independently.

Here is our story.

The Financial Advisor Experience

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ocused

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inancial

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dvisors We know the success of our business is largely dependent upon the expertise and guidance that our Financial Advisors provide their clients for the future. Therefore, Janney focuses on providing our Financial Advisors with the respect and profes-sional development necessary to empower them to perform at their best and achieve professional satis-faction today and for the years to come.

To meet these goals, we are committed to providing Financial Advisors with a full range of the highest quality, client-centered tools and resources for an unparalleled client experience, fully supported by our team of in-house specialists. You have the

support of credentialed, experienced financial

planning professionals to help your clients in every phase of their lives. Whether for college, retire-ment, or managing their legacy, you have the tools and access to professional help. Working with you to handle the most challenging and complex invest-ment and planning issues, our Wealth Manageinvest-ment department echoes the Firm’s philosophy to ensure that Janney Financial Advisors provide the best

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Janney is committed to helping our clients

successfully and efficiently meet their financial needs and goals. In order to fulfill that

commitment, we must first meet the needs

of our Financial Advisors. Driven by our

commitment to our Financial Advisors, our Firm and its associates practice a philosophy rooted in service, respect, professional development, achievement and integrity in order to provide you with accessible and effective products, services and tools to best meet the needs of your clients. At Janney, the advisor owns the

client relationship, making your needs a

firm-wide priority.

When you join Janney, you position yourself to offer the highest quality of service, personal attention and resources to your clients at every point of contact with the Firm. In addition to an exceptional level of day-to-day support, Janney

gives you considerable flexibility to offer a variety

of products and services that add convenience and value to your client relationships.

Solutions and Support at Janney

From sophisticated Investment and Wealth Management tools and detailed performance reporting to top-tier Capital Markets and Research

capabilities, your clients will benefit from not only

our expertise, but also our execution.

A Comprehensive Investment Platform

• Unified managed accounts • Separately managed accounts

• Financial-Advisor-directed investment advisory services

• Client-directed investment advisory services

• Mutual fund and ETF managed solutions

• Alternative investments

• Individual fixed income and equity investments • Packaged and structured investment products

• Comprehensive annuity and insurance solutions

• Unit investment trusts and alternative investments

• Traditional brokerage accounts

• Janney Capital Management

Superior Advice and Expert Solutions

• Comprehensive wealth planning

• Retirement and retirement income planning

• Estate and wealth transfer advice

• Philanthropic opportunities

• Business succession planning

• Income and cash flow guidance • Risk and insurance assessment

• Investment and asset allocation

• Net worth statements

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In addition to providing you with superior support and guidance in the planning,

selection and implementation of financial products and services, associates

in Janney’s corporate headquarters work to help you manage and build your

practice as efficiently as possible. This begins on your first day and continues.

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Once you’ve made the decision to join Janney, we put a transition team to work for you to solve the challenge of moving your business from another

firm to ours. Janney’s support staff works to man -age the necessary paperwork so that a smooth transition takes place.

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Janney actively works to help you build your business. With a dedicated Private Client Group marketing team within our Marketing and Corpo-rate Communications Department, the group can help you establish a personal brand identity and marketing plan, as well as develop client commu-nications. A Marketing Specialist is located in the Pittsburgh Complex.

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Additionally, you have the opportunity to build your own customized business or team website, as well

as set up firm-approved account for Facebook and

Twitter, which, when used in conjunction with your

LinkedIn profile, builds a strong online presence

for business development and branding purposes.

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Individuals can accomplish much—but teams can

accomplish much more. Janney encourages our Financial Advisors to pool their experiential and intellectual resources to provide clients with excep-tional service. Combined with the skilled team of

experts at Janney, the opportunities for success— for both you and your clients—are immeasurable.

If you are part of an existing team or are interested in building a team, Janney can help.

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The firm provides extensive advanced training

to help Financial Advisors respond to client needs and increase their earning potential. Janney actively encourages the obtainment of advanced degrees and designations such as the CERTIFIED FINANCIAL PLANNER™ (CFP®₎

program and provides opportunities for our Financial Advisors to enhance their knowledge as well as their production.

To further encourage professional development, Janney established a Tuition Reimbursement, or

Educational Assistance program, a benefit of up

to $5,250 per year for eligible business related courses and programs.

Janney is committed to providing our Financial Advisors with the education and professional development necessary to prepare them in han-dling all aspects of wealth management, from ac-cumulation to preservation and transfer. As part of this goal, our Financial Advisors have access to a unique educational opportunity through

Learn-ing & Professional Development—the Firm’s

internal educational division.

Learning & Professional Development—in con -junction with the College for Financial

Plan-ning—incorporates proven curricula and provides

Financial Advisors with the opportunity to gain career-advancing knowledge and attain important and nationally recognized industry accreditations. Learning & Professional Development is an impor-tant resource that can help you manage the assets and needs of high net worth clients.

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echnologY

Today, technology is moving to the forefront of

business—and that includes the financial services

industry. As such, Janney provides the platforms and support services needed to both monitor and grow your business in an evolving marketplace by leveraging technology.

Janney offers and supports Thomson TTS, Bloomberg and BondDesk BondWorks, in addition to business analytics tools and performance reporting. We offer our Financial Advisors mobile access to email through

ActiveSync to their smartphones. Janney supports remote system access through JanneyAnywhere and VPN.

Janney is committed to using technology to serve clients in every area of our operation. Each Janney Financial Advisor has the capability to provide their clients with portfolio reports, monthly income pro-jections, account performance and activity reports right from his or her desktop.

With Janney Online Access, your clients can se-curely obtain both market and account information via Janney’s website at www.janney.com. They can access features and services such as Quicken, Bill Payment, Realized Gains and Losses, TurboTax, and Online Statements with our E-delivery option.

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Janney’s consistent success and profitability enables

deserving Financial Advisors to be well compen-sated for their efforts. The Firm’s retained capital is invested into the business of supporting you, our Financial Advisor, not in risk-taking. Our product

is our expertise—your expertise—so we’re com -mitted to providing a variety of advanced training and incentive programs designed to help you earn recognition for your performance. Providing a total compensation package consistent with maintaining our long history of corporate and

financial stability are two key tenets of our Firm’s

philosophy. When you join Janney, we go a long way to help you succeed.

Please see our Compensation and Incentive Guide for complete details.

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All financial services firms have a personality and

an operating philosophy. At Janney, we pride ourselves on the level of service we provide to the retail client. That’s why we consider ourselves a

superior firm when it comes to offering our Fi -nancial Advisors the tools necessary to meet their clients’ needs. And, most importantly, to do so in an atmosphere of cooperation with little bureau-cracy. At Janney, you will be an entrepreneur with the freedom to run your own client book.

But what sets our Firm apart from many other regional full-service broker/dealers and large wirehouses, is the superior level of service you will

receive from the branch office support staff, home office associates, product and service experts,

award-winning analysts and, most importantly, senior management.

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Our Firm is based in Philadelphia, with

approxi-mately 750 advisors in over 100 offices. We are

the largest broker-dealer headquartered in Penn-sylvania. The Western Region is comprised of 26 branches with nearly 165 Financial Advisors. This region accounts for approximately one-third of the Firm’s overall production.

What makes these Financial Advisors—and their offices—so successful? An environment conducive

to doing business. Janney’s professional, friendly and energetic atmosphere advocates a service-based culture that champions respectful, ethical

treatment of clients and employees. Additionally, Janney cultivates an environment of personal and professional growth for its Financial Advisors and associates. We offer professional development to enhance their ability to enjoy rewarding careers. Fostering an environment that promotes healthy competition and recognition, Janney’s consistent

profitability enables deserving Financial Advisors

to be well compensated for their efforts. The Firm’s retained capital is invested in the business of supporting Financial Advisors and clients, not in taking risks, because we know our most valuable asset is your expertise.

Our Financial Advisor and Branch Manager Lead-ership Councils, as well as our Senior Management and Private Client Group Administration Manage-ment team, work together to offer a competitive compensation, awards and recognition package that typically includes, but is not limited to:

• Guaranteed Base Compensation

• Additional Fee and Commission-Based Incen-tive Compensation

• Deferred Compensation Awards

• Voluntary Deferred Compensation

• Wealth Builder Deferred Compensation Awards

• Product Neutral Grid

• Reward Trips

At Janney, you are not just a number—you are a name. Joining any of our offices in the Western

Region, ensures you direct access to senior man-agement. And, the ability to communicate your needs to the Firm’s top decision makers allows you to better meet the needs of your clients.

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ombard

“At Janney, our success comes from the experience gained in over 180 years of continuous growth,

financial stability, dedication to our clients and

support for our Financial Advisors. But one thing I’ve learned over the course of my 25 year career with the Firm, is that our success is also very much attributed to our culture; a culture that recognizes and fosters Financial Advisor success. From senior

management, to home office support staff, our

focus is, and will continue to be, on you.” Jerome F. Lombard

President, Private Client Group

PA OH WV MD WESTERN REGION Mansfield, OH Washington, D.C. Charleston, WV Cleveland, OH Elyria, OH Salem, OH Chillicothe, OH Marietta, OH Buffalo/Williamsville, NY Meadville, PA Oil City, PA DuBois, PA Clarion, PA New Castle, PA Williamsport, PA Sunbury, PA Lemoyne, PA York, PA Lancaster, PA Wexford, PA Beaver, PA Pittsburgh, PA Ligonier, PA McMurray, PA Uniontown, PA Richmond, VA

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iographY

As a Branch Manager, my role is to support the business practices of my clients -- the Financial Advisors in the Pittsburgh Complex. The office is the second largest office in the Firm by assets and revenues, and is staffed with 25 experienced Financial Advisors. Specializations include financial, retirement, education and insurance planning, advisory-based programs, annuities, mutual funds, trust services, tax-free and taxable bonds, equities and stock options. The Pittsburgh office, formerly the headquarters of Parker/Hunter Incorporated (which merged with Janney in 2005), is co-located with Janney Capital Management (formerly Parker/Hunter Asset Management), Municipal Public Finance, Financial and Wealth Planning and Marketing staff members.

I was attracted to Janney because of the entrepreneurial culture which allows for our Financial Advisors to run their practice focusing solely on client needs. To synchronize the goal planning of the Financial Advisors with Janney’s client-focused business model, I engage my 20+ years of industry experience to help guide, coach, mentor, and partner with them in the development of their strategic plan and business execution.

James J. Foley, CFP

®

Senior Vice President

Complex Branch Manager

To help them manage their plans, I meet with each Financial Advisor regularly to review the status of their production goals and make myself available and accountable to them at all times. This management style allows for two main components of the Branch Manager/Financial Advisor

relationship: 1) full and complete disclosure of risks and costs in presenting the best strategy for their

clients to achieve their goals—in short, to do the

right thing for clients, and 2) to make it possible for the Pittsburgh Financial Advisors to do what they do, to the best of their ability while maximizing their own wealth-building opportunities.

My previous industry experience has proven invaluable in my leadership role as a Branch Manager. I entered the profession as a Financial Advisor at Merrill Lynch (where I served on the Executive Council from 1991-1992) and Smith Barney, serving largely in various management positions. These positions led me to become Director of Business Development at an

independent financial firm, and exposed me to another side of our industry.

In the community, I have served as a Board Member, United Cerebral Palsy of Greater Chicago (1995-1996) and St. Jude Memphis-to-Peoria Runner 2005-2007). I also received the United Cerebral Palsy Association of Chicago Leadership Award (1996).

I am married with four grown children, one of whom has physical challenges.

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JANNEY MONTGOMERY SCOTT LLC

www.janney.com Mission

At Janney, our mission is to be the highest standard of success in financial relationships.

ONE PPG PLACE Suite 2200 Pittsburgh, PA 15222 jfoley@janney.com www.janneypittsburgh.com 800.441.1514