Janney’s municipal capital markets professionals support our public finance platform with a strong primary and secondary trading and underwriting effort. This effort is complemented by our institutional sales force which is comprised of experienced professionals with strong client relationships throughout the investor community. These municipal specialists cover over 400 institutional accounts, including all major bond funds in the United States, as well as many mid-size institutions not covered by other firms. To enhance our institutional sales forces market penetration, Janney’s municipal credit analysts provide ongoing credit surveillance under dynamic market conditions. Our Private Client Group network, which includes over 1,000 retail and institutional financial consultants located in over 100 offices, also provides unsurpassed distribution capabilities and liquidity to our institutional clientele in the primary and secondary markets.