November 19, 2007

CONTACT:
Karen Shakoske
Vice President & Director of Marketing
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kshakoske@jmsonline.com

Superior Education Helps Financial Consultants Exceed Client Expectations

Janney Montgomery Scott LLC’s Wealth Management Certification Program Continues Success

Philadelphia, Pennsylvania — November 19, 2007 - Janney Montgomery Scott LLC (“Janney”), one of the nation’s largest regional full-service investment firms, is proud to announce the continued success of its Wealth Management Certification Program with the recent graduation of its fourth class of students. This comprehensive program combines the knowledge of Janney professionals with the expertise of professors from the Wharton School of the University of Pennsylvania and the College for Financial Planning.

Offered by Janney University, the Firm’s internal education division, the six-month program is aimed at enhancing the wealth management knowledge of participating Janney Financial Consultants with courses on the accumulation, preservation and transfer of wealth.  It culminates with students sitting for the Accredited Wealth Management Advisor^SM exam to earn the prestigious AWMA^SM designation.  

“We are committed to providing our investment professionals with the education and skills they need to successfully handle all aspects of a client’s financial picture,” said Director of Wealth Management, Randall Carbone.  “Individual investors – and their families – face myriad decisions when addressing complex financial, estate and tax issues as they plan, build and manage their wealth.  Our consultants who have gone through this program are more attune to guiding clients comprehensively toward the right opportunities for their unique situation that will ultimately assist them in securing a complete financial picture.”

Tess Kristensen, Chief Learning Officer and head of Janney University continued, “We believe working with Wharton and the College for Financial Planning offers our Financial Consultants a program of an unprecedented caliber.  It is a tremendous opportunity for Janney’s Financial Consultants and is so popular that we continue to fill classes and have a wait list of FCs interested in enrolling in the program.”

Since launching the program in 2005, a total of 115 of Janney’s nearly 900 FCs have completed the program and earned their AWMASM designation, which comprises approximately 21% of all AWMA designees nationally according to statistics provided by the College for Financial Planning in August, 2007.   Graduating 37 students in total, this term’s class surpassed the exam’s national first-time pass rate by nearly 20%, and is Janney University’s largest class to -date.  See attached for a complete list of the most recent class of graduates.    

About Janney Montgomery Scott LLC

Founded in 1832, Janney is an integral part of the nation’s financial history, holding the second oldest continuously operated membership in the New York Stock Exchange.  The Firm ranks as a major, full service securities broker/dealer, providing individual, corporate and institutional investors with comprehensive financial services and investment banking expertise.  With headquarters in Philadelphia, PA, Janney operates through a network of nearly 100 branches with 900 Financial Consultants.  Janney is an independently operated subsidiary of The Penn Mutual Life Insurance Company.  Penn Mutual ranks as one of the 15 largest mutual insurance companies in the nation, with more than $14 billion in assets.  Janney Montgomery Scott LLC is a member of the New York Stock Exchange, National Association of Securities Dealer and the Securities Investor Protection Corporation.

About The Wharton School of the University of Pennsylvania

The Wharton School of the University of Pennsylvania -- founded in 1881 as the first collegiate business school - is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The school has more than 4,600 undergraduate, MBA, executive MBA, and doctoral students; more than 8,000 annual participants in executive education programs; and an alumni network of more than 82,000 graduates.

About the College for Financial Planning

The College for Financial Planning has been the premier provider of financial services education since 1972. The College for Financial Planning is accredited by the Higher Learning Commission and is a member of the North Central Association. Its distance learning courses for adults are provided in self-study and instructor-led formats.

Janney University Wealth Management Certification Program

Session IV Graduates