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Stifel Nabs Merrill, Morgan Stanley Reps With $680M: Recruiting Roundup

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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.)

The advisors are Daniel Raupp, who was responsible for $166 million in assets, and the team of Gary Phelps and Alfredo Serrano, who worked with $144 million.  

“Our culture of offering advisors the freedom of independence without the added risk and burden, along with the capability of a wirehouse without the bureaucracy is resonating with top financial advisors and their clients,” explained Kevin Ortmeyer, managing director of the Central Region, in a statement.  

In addition, Zachary Harveth moved to Stifel’s office in Lake Forest, Illinois, from Morgan Stanley, where he was responsible for $47 million in client assets.

Other News

Meanwhile, Wells Fargo Advisors Financial Network (known as FiNet) says advisors from UBS and PNC have moved to its indepedent-advisor platform.

Donnie Dishaw, formerly of UBS, has opened Texan Wealth Advisors in Houston. Dishaw has some 23 years of industry experience and manages more than $107 million in client assets.

Also, Robert Anderson (Andy) Turner II, earlier with PNC, has joined Nesselroad and Associates in Zanesville, Ohio. Turner has been an advisor for over 13 years and manages some $68 million.


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