Stifel Picks Up 9 Reps With $1.1B
Stifel's recruiting head says the firm takes advisors "back in time” in a good way.
Stifel Financial is continuing its recruiting push into the second quarter with the hiring of nine financial advisors with over $1 billion in total assets. The FAs join from Merrill Lynch, Wells Fargo and Raymond James.
The news comes a week after Stifel added six financial advisors from Merrill, Wells and other firms with a total of $323 million in client assets.
“High-quality wirehouse and regional advisors are realizing that Stifel takes them back in time when the business was fun and the only focus was on their clients,” according to John Pierce, head of recruitment. “Large teams have accelerated their due diligence on Stifel while their firms remain in the broker protocol. Our unique culture is compelling and continues to drive our recruiting success in 2019.”
With nearly $600 million in client assets, Gary Allen, Peggy Allen, Tony Ondracek, Robert Babcock and Greg Munro are now part of Stifel’s office in Murrieta, California (near Temecula) after leaving Merrill Lynch.
Moving from Wells Fargo are Ray Martin and Craig Bentley in Newport Beach, California; earlier, the FAs were responsible for $107 million and $71 million in client assets, respectively.
In Clive, Iowa (near Des Moines), Miles Luchtenburg and Kyle Owens joined Stifel in a new office from Raymond James, where they were responsible for $220 million and $120 million in client assets, respectively.
As of Dec. 31, Stifel had 2,301 advisors — up three from Sept. 30 and up 57 from a year earlier. Total assets in the firm are about $270 billion, of which roughly $160 billion are part of its Private Client Group.
— Check out 12 Best & Worst Broker-Dealers: Q4 Earnings, 2018 on ThinkAdvisor.