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Stifel, Raymond James Grab Wirehouse Reps: Recruiting Roundup

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Stifel Financial says it has recruited advisors from three wirehouses with over $400 million in assets.

Joseph Crespi joined the firm’s Plymouth, Massachusetts, office from Merrill Lynch, where he was managed $206 million.

Mark Enriquez left Morgan Stanley to work in Stifel’s Center Valley, Pennsylvania, office. He previously managed $140 million. (He follows the father-son team of John A. and John P. Banks, who joined the Center Valley office from Wells Fargo Advisors in September.)

Moving from UBS, Bill Darby is now in Stifel’s Atlanta office. He has managed $78 million in client assets.

Also coming to Stifel is the father-son team of Jack and Robert Mayer. They are now part of the firm’s Memphis office after leaving Hilliard Lyons, where they were responsible for $154 million in client assets.(They join John “Barry” Jenkins, who joined the Memphis office from Wells Fargo Advisors in September.)  

“Entrepreneurial financial advisors are responding to our open architecture, transparent compensation plans and lack of bureaucracy, making Stifel the firm of choice to serve their clients,” according to John Pierce, Stifel’s head of recruitment.

“Our common-sense approach has led to a record number of visits to kick our tires and has translated into high-quality advisors like Jack, Bob, Mark and Bill joining Stifel across the country,” he added.

Raymond James’ Hires

Also adding wirehouse reps recently is Raymond James, which says a Morgan Stanley team with $170 million has joined its employee channel in West Palm Beach, Florida: Patricia Sans and Seraphim “Sam” Rine, now known as The Intracoastal Group of Raymond James

“The home office visit was a turning point in our decision to join Raymond James,” according to Sans. “Going to the office, meeting some of the executives and having them ask us questions about our business really solidified the culture. I could see that my clients would be just as important to the firm as they are to me.”

Sans has been in financial planning since 1983. She started at E.F. Hutton and later worked at Merrill Lynch. Rine began his career with Citigroup in 2001.

“It’s a pleasure to welcome Patti and Sam to the firm,” said Bert White, manager of the South Florida complex for RJA, in a statement. “We believe they are an exceptional team, and with their commitment to putting clients first, they make great additions to Raymond James.”

In addition, Raymond James recently welcomed Jonathan Palmer, CFP, and Alexander Moore, CRPC, to its employee channel  in Seattle.

The advisor duo does business as the Palmer & Moore Financial Group of Raymond James and joins the firm from Wells Fargo Advisors, where they previously managed about $145 million in client assets.

“When we met with the firm’s senior leadership, we were impressed by the culture Raymond James has built, particularly in the Seattle area,” said Palmer, in a statement. “The advanced technology offerings and expanded solutions for high net worth clients were also a great fit for our practice.”

Palmer has been in the financial-services industry since 2002 and spent the past seven years at Wells Fargo. Moore, began his career as an advisor at Wells Fargo in 2011.

In addition, Raymond James recruited John “Quint” Andrews, CRPS, CFP, to its employee channel in Atlanta from Merrill Lynch, where he managed over $110 million.

“The culture at Raymond James was an important factor in my decision,” said Andrews, in a statement. “As a young advisor, the level of support they provide was impressive to me, and I knew I wanted a firm that would care about my clients as much as I do.”

Andrews started his career in 2005 at Morgan Stanley. He later worked at Merrill Lynch for more than nine years.

“The client-first culture and support offered by Raymond James continue to attract strong advisors like Quint, who are dedicated to serving their clients,” according to Dick Ferguson, Southern division director for Raymond James & Associates.

Plus, Raymond James says it welcomed advisors Robert J. Ellis, Christopher L. Van Son, Joe Starinsky, Jr., CFA,AIF, and Julie Barr to its independent channel in Orchard Park, New York. They join from LPL Financial, where they managed about $170 million.

“During our visit to the home office, we were also excited by what we saw from a technology standpoint. For us, the client comes first — our business is 100% referral, and we have been that way since 1989,” Ellis explained in a statement. “It was important to us to join a firm that provides the support we need to continue to serve our clients.”

Ellis became an advisor in 1983, while Van Son has 34 years of experience. Starinsky, CFA, has been in the industry for more than 21 years. Barr is transitioning to the role of financial advisor after 19 years with the team as a senior client-service representative.

LPL News

LPL says Athens Federal Community Bank is now using its hybrid platform. The institution previously worked with Raymond James and has about $150 million of client brokerage and advisory assets.

Athens Federal of Tennessee was recently acquired by CapStar Bank, which offers investment services through LPL Financial and works with LPL client Financial Resources Group Investment Services. Its operations include financial advisor Fred Burke.

“We welcome Fred to CapStar Wealth Management and thank him for his commitment to his clients,” said Tara Alford, CapStar executive vice president and program manager, in a statement.

“With CapStar, FRG and LPL behind him, he’ll have resources and support to enhance the guidance he can provide to clients and help them work toward growing their assets,” she explained.

In other news, Integrated Financial Partners, a financial planning and registered investment advisory firm affiliated with LPL, said it hired Jason Lahita as its chief communications officer. IFP has launched a new website, as part of this step.

Lahita was a founder of FiComm Partners in 2012. He also worked on communications for United Capital Financial Advisers.

“Now, it is time to tell our story, and to expand our services – to clients and advisors alike. Jason will help us to do that, very effectively,” according to Paul Saganey, founder and president, Integrated Financial Partners.

IFP recently hired Chief Investment Officer Rob Brown, Ph.D., formerly with United Capital, and Robert Sandrew, senior vice president of business development, previously with LPL.

Succession Lending Development

Succession Lending, a provider of bank financing for M&A transactions involving independent financial advisors, has promoted Katie Bruner from managing director to managing partner.

“Since joining Succession Lending, Katie has brought significant value to our organization. We are fortunate to have her leading our strategic initiatives. Katie’s contributions warrant a spot for her in our capital structure,” said Scott Wetzel, JD, managing partner at Succession Lending, in a statement.

Prior to joining Succession Lending, Bruner spent 13 years as a director in national accounts; she was responsible for cultivating and growing major independent and regional broker relationships with firms including LPL, Ameriprise, Ladenburg Thalmann Financial Services and RBC.


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