Stifel Financial has recruited five advisors from Wells Fargo with a total of nearly $620 million in client assets. Four of the recruited reps have been in the business for more than 25 years.
The news comes about a week after Stifel released its third-quarter results, which included its latest tally of employee and independent advisors: 2,193, up from 2,143 a year earlier. These advisors work with a total of about $312 billion in client assets.
“Advisors from Wells Fargo are flocking to Stifel because we represent today what they once had at A.G. Edwards — a firm where you work hard, get paid fairly, and have some fun,” said John Pierce, head of recruitment, in a statement.
Both Stifel and Wells Fargo Advisors are based in St. Louis (as is Edward Jones).
Reps in Motion
Stifel’s latest recruits include:
- The father-son team of Doug and Kevin Bowcock in Rancho Bernardo, California, who work with $243 million; Doug has 28 years in the business, while Kevin has seven;
- Allen Hammonds in Greensboro, North Carolina, who has about $165 million in assets under management; he’s been an advisor for 34 years, most of which he spent at Wachovia and Wells Fargo (which bought Wachovia on Jan. 1, 2009);
- Matthew Neis in Lawrence, Kansas, where he’s worked with $111 million; he’s been in the business for 27 years and started out with Edward Jones, before moving to A.G. Edwards (which was acquired by Wachovia in 2007 and then became part of Wells Fargo);
- Karen Ward in Okemos, Michigan, where she has been responsible for $100 million in client assets; Ward has been an advisor for 30 years and spent the past 16 with Wells Fargo.