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Wells Fargo Loses 3 Advisors to Stifel

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Stifel Financial Corp. has announced that its broker-dealer subsidiary Stifel, Nicolaus & Co., has welcomed three financial advisors, all from Wells Fargo Advisors.

The three new hires represent a total of $479 million in client assets.

In the firm’s Frontenac, Missouri, office, George Walton and Keith Creech have joined. At Wells Fargo, they were responsible for $225 million and $200 million in client assets, respectively.

In the firm’s Denton, Texas ,office, David Ferneding has joined; at Wells Fargo he was responsible for $54 million in client assets.

“The resounding feedback we receive from the hundreds of advisors who come to our home office visit is that they are looking for an alternative to bank-owned brokerages,” John Pierce, head of recruitment at Stifel, said in a statement.

Pierce added, “At Stifel, we own the bank, the bank does not own us. Advisors understand the consequences of that last statement and are choosing Stifel for their clients, their teams and their families.”


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