Stifel Financial says it has recruited 11 advisors from Wells Fargo and other rivals with about $850 million in combined assets.
“We are seeing that advisors are joining us all across the country, because we listen to their needs and let them decide how to take care of their clients,” according to John Pierce, Stifel’s head of recruitment. “While it might sound trite, when they join Stifel, they join a close-knit family.”
One team of advisors formerly with Wells Fargo includes Thomas “Fore” Rembert, John “Mark” Cash, Grant Rembert and William Mode, who are based in Hickory, North Carolina. The team comes to Stifel from Wells Fargo, where it had nearly $290 million in client assets.
Also moving to Stifel from Wells Fargo is Larry Jacobs in White Plains, New York; he has managed about $192 million in client assets. And Nick Steinbach, formerly with Wells Fargo, is now part of Stifel in Naples, Florida; his client assets total $60 million.
Tom LaPorte, Bryan Bertucci and Von Hallauer joined Stifel’s Scottsdale, Arizona, office from Raymond James, where they had $234 million in assets.
Sally Harris left LPL Financial to be part of Stifel’s Fresno, California, office; she has managed $43 million in client assets.
In addition, Daniel Riley moved to the firm’s Pittsburgh office from PNC Investments, where he was responsible for $35 million in client assets.
In other news, Baird says it recruited the Wessel Group in Raleigh, North Carolina, from Wells Fargo. The team oversees $125 million in assets and generates more than $1 million in yearly fees and commissions.
It is led by Paisley Wessel, who has 35 years in the business, and her son Cory, who has been in the industry for seven years.
It also added David A. Thuli of Milwaukee, who used to be with Morgan Stanley. Thuli has 16 years of industry experience, works with $110 million in assets and generates $900,000 in annual production.
Meanwhile, Raymond James welcomed Robert DuKate, CFP, to its employee channel, in Boca Raton, Florida. DuKate used to work with Ameriprise Financial, where he had about $125 million in client assets.
DuKate has been in the financial industry for more than 36 years, having started his career at Merrill Lynch and then moving on to Prudential Securities, Citigroup and Morgan Stanley.