Stifel Hires Multimillion-Dollar Broker from Jefferies
Stifel Financial has hired a New York City broker whose transactional book of business helped him generate more than $8 million at Jefferies’ small retail wealth management unit, according to Stifel.
Adam Shafiroff joined Stifel’s midtown Manhattan branch on Monday, an office larded heavily with brokers absorbed through the company’s 2015 purchase of Barclays U.S. brokerage business. Shafiroff and his nephew Laurence—who is working in a non-advisory role—worked at Barclays prior to joining Jefferies in 2014, according to their BrokerCheck histories.
The broker’s $8.2 million in trailing-12-month production at Jefferies came largely from sales of real estate investment trusts and master limited partnerships to “ultra-high-net-worth” family office clients and hedge fund and private equity clients on Jefferies’ institutional side, according to Stifel recruiting head John Pierce.
The client assets are largely held away, with Shafiroff’s stated assets under management at $179 million and his production generated on a delivery-versus-purchase basis.
A spokesman at Jefferies, an equities trading firm and investment bank that employs about 50 retail brokers versus about 2,200 at Stifel, declined to comment on the departure.
Shafiroff said he could not immediately comment on his decision to join the St. Louis-based firm. Stifel’s New York City branch is the largest at its Stifel Nicolaus retail brokerage unit, and its roster of 80 advisers includes Martin Shafiroff, a relative who worked almost four decades at Lehman Brothers before joining Barclays in 2008 and Stifel in December 2015.
Adam Shafiroff has had a peripatetic career, working at nine firms prior to Stifel over his 39-year career, according to his BrokerCheck history. He has no disclosures from customers, regulators or firms on his record.
Laurence Shafiroff worked at four firms over his 34 years as a registered rep. He and his uncle joined Jefferies with advisor Morgan McLanahan, who remains at Jefferies.