Stifel has continued to hire brokers from Merrill Lynch, poaching another wirehouse advisor on the eve of the Thanksgiving break.
A father-and-son team left Stifel after the firm refused to let it hire an advisor from Wells Fargo.
St. Louis-based regional says it has recruited 18 brokers managing $2.1 billion in customer assets from the New York wirehouse this year.
Three brokers who managed $497 million at Merrill moved Friday to open a new Stifel office in Connecticut.
Four wirehouse brokers near Buffalo and Dallas join Stifel, one Stifel team in Scottsdale joins RBC, and each team had more than $200 million of client assets.
Adam Shafiroff reunites with former colleagues at Barclays who Stifel absorbed four years ago.
Father-son group who were overseeing about $216 million had ties from their Ragen MacKenzie days to Stifel’s Seattle-area branch manager.
Three clients claimed firm ignored red flags as broker concentrated them in biotech and healthcare stocks as the investments were shedding value.
Brokers, who each have more than 30 years of industry experience, worked independently in a suburban St. Louis branch and are believed to have collectively produced about $5.5 million.
Former Wells Fargo and UBS advisor was managing $350 million in client assets for entertainers and professional athlete clients.
Stifel Nicolaus is eager to continue hiring big-firm brokers who feel marginalized, CEO says, despite short-term effect of the cost on profit margin.