Stifel Financial has just recruited a Merrill Lynch team with $323 million in client assets and four advisors from Morgan Stanley with $357 million.
“Stifel has become quite proficient porting over assets from non-protocol firms,” said John Pierce, head of recruitment, in a statement. “On average, financial advisors have been bringing over in excess of 93% of their book [of business] into our open-architecture environment.”
Christopher M. Moran and Christopher E. Moran — a father-son duo — left Merrill to joined Stifel’s Boston Private Client Group.
“Their 41 years of combined industry experience and outstanding reputation in the Boston market will make them a great asset to our branch and the firm,” according to Branch Manager Derek Gage. “Most importantly, Stifel offers them an entrepreneurial culture … and in-depth platform that will help them to continue serving their clients’ interests first.”
Stifel also says three ex-Morgan Stanley advisors are now working in a new Private Client Group office in Barrington, Illinois, about 35 miles from Chicago. (This is the firm’s 16th office in the Land of Lincoln.)