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Stifel Financial says it recently added six advisors who used to be with Moors & Cabot, Morgan Stanley and Raymond James and had about $642 million in combined client assets.

“We are very excited to expand our footprint in Arizona, Pennsylvania, Georgia, Michigan and South Carolina,” according to John Pierce, head of recruitment for Stifel. “Wirehouse, independent, and regional advisors are seeing the commitment Stifel makes to their clients, their teams and their families … .”

Coming on board in Phoenix is Peter Smith, who works with some $142 million of assets. He follows Craig Johnson and Craig Whitten, who joined this office from UBS in September. Smith started in the business in 1991 and was with UBS from 2001 to 2009 before moving to Moors & Cabot.

Tyler Lenda is now part of Stifel’s York, Pennsylvania. Lenda was with Morgan Stanley since 2006 and was responsible for $97 million in assets.

The four advisors moving to Stifel from Raymond James’ employee-advisor channel include the mother-son team of Lynn and Michael Faust in Charlotte, North Carolina, with $285 million. The Fausts, who have 37 and 17 years respectively in the business, will work from Charlotte on a temporary basis until the opening of Stifel’s new Private Client Group office in Greenville, South Carolina.

Other advisors joining Stifel from Raymond James are Fred Ross in Atlanta with $64 million and 28 years in the business, and Bob Rubarth in Shelby Township, Michigan, with $54 million and 25 years in the business

The Fausts and Rubarth were discharged by Raymond James in October over issues tied to activity involving unit investment trusts, according to FINRA BrokerCheck; Ross resigned from Sun Trust in 2005 over allegations that concerned rebalancing and trading but then joined Raymond James & Associates.  

Stifel had 2,298 advisors with about $289 billion of client assets as of Sept. 30 — up from 2,252 a year ago and 2,267 as of June 30.

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