After spending their careers with Wells and predecessor A.G. Edwards, brokers were frustrated by policies penalizing their servicing of “small” accounts and by customers’ questions about the bank’s regulatory issues.
Rich Steinmeier will replace LPL veteran Bill Morrissey as head of recruiting, while Stifel continues to pick up Wells brokers in Modesto.
Duo in Syracuse, New York, spent most of their careers at Wells and its A.G. Edwards predecessor.
Tom Thives, who had been with Wells Advisors and legacy firms for 23 years, will oversee some 40 brokers in Florham Park and also try to expand satellite offices in Princeton and Ramsey.
Bob Johnson, who was running Merrill PBIG’s Southwest region, is second wirehouse manager St. Louis-based Stifel has landed this month.
James Van Steenhuyse joins St. Louis-based firm in Phoenix after three decades at UBS and predecessor firms.
One-time dip in earning reflects moves to prepare for lower corporate tax rate in 2018 and beyond.