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Updated September 23, 2026. Quick answer: $100,000 for Adviser’s Program. Janney Montgomery Scott’s own Form ADV Part 2A brochure states this figure directly, though the firm can waive or reduce it at its own discretion. At that minimum, Janney Montgomery Scott’s own published fee schedule works out to $2,000 a year.
The minimum, in the firm’s own words
“The minimum initial investment for accounts in the Adviser’s Program is $100,000, which may be waived in Janney’s sole discretion.”
On waivability: “The minimum initial investment for accounts in the Adviser’s Program is $100,000, which may be waived in Janney’s sole discretion.”
Minimum investment and what it would cost
| Program | Minimum investment | Annual fee at that minimum | Waivable? |
|---|---|---|---|
| Adviser’s Program | $100,000 | $2,000 | Yes, at the firm’s discretion |
| Source: Janney Montgomery Scott LLC Managed Account (Wrap Fee) Program Disclosure Brochure, June 30, 2026 | |||
$100,000 at Janney’s disclosed 2.00% ceiling: $100,000 x 2.00% = $2,000.
Janney Montgomery Scott’s own fee schedule at other balances
| Account balance | Annual fee |
|---|---|
| $250,000 | $5,000 |
| $500,000 | $10,000 |
| $1,000,000 | $20,000 |
| $2,000,000 | $40,000 |
What else to know
Janney’s brochure states minimum investment requirements vary by specific program; a second program, Janney Capital Management Direct, separately confirms $100,000 as well (with a $250,000 exception for one specialized strategy inside it). The Adviser’s Program shown here is Janney’s flagship discretionary offering.
What a larger account would cost
The minimum is only the entry point. On a $500,000 account, Janney Montgomery Scott’s own published fee schedule runs up to $10,000 a year (the published maximum, which the firm says is negotiable); see the full dollar breakdown from Janney Montgomery Scott’s own fee disclosure across several account sizes.
Already a client and thinking about the minimum a different way, like whether you could get a better deal elsewhere? See what it costs to leave Janney Montgomery Scott, or read the general mechanics of switching financial advisors.
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- Janney Montgomery Scott LLC Managed Account (Wrap Fee) Program Disclosure Brochure (June 30, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1050308
- SEC Investment Adviser Public Disclosure, Janney Montgomery Scott LLC (CRD #463): https://adviserinfo.sec.gov/firm/summary/463
- Janney Montgomery Scott LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/463/PDF/463.pdf
Methodology. This page was built September 23, 2026, quoting directly from Janney Montgomery Scott’s own current Form ADV Part 2A / wrap-fee brochure, with the source linked above. The annual-fee-at-the-minimum figure applies that same brochure’s own published fee schedule to the disclosed minimum dollar amount; any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading the firm’s own Form ADV Part 2A. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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