Skip to Main Content
SUBMIT A TIP RECEIVE DAILY NEWS
Menu AdvisorHub
  • News
      • Latest News
          • Ralph Hamers, CEO of UBS Group AGUBS Wealth Americas Profit Hits Record with Fewer Brokers
          • DealsHightower Takes Stake in $830 Million New York RIA
          • Business DealCI Financial Buys Chicago RIA and Asset Manager Overseeing $23 Billion
          • Finra signFinra Bars Ex-Merrill Broker Kenahan After Record NH Settlement
        • Close
      • Advisor Moves
          • Boca Raton, FloridaRockefeller Lures Two Florida Teams with $9.8 Mln Revenue
          • Morgan Stanley, UBS Advisor movesMorgan Stanley Rehires $3.3-Mln UBS Team in North Carolina
          • Lars Olson of Sanctuary Wealth Partners in Marion, OHSanctuary Hires $435-Mln Merrill Team, Snowden Lures Another from Retirement
          • Stifel Investment CompanyStifel Hires 33-Year Brokerage Vet from Jefferies in Dallas
        • Close
      • Enforcement
          • Advisor MoneyWells Fargo Recoups $2.5 Million from New Jersey Duo
          • Businessman in prison, fraudWells Fargo Claws Back $3 Million from Jailed Ex-Broker
          • Finra signFinra Fines, Supends Ex-Ameriprise Broker Who Flipped ‘A’ Shares
          • Barred from the securities industry.SEC Puts Nail in Ex-Morgan Stanley Broker’s Career Coffin
        • Close
      • Markets
        • `Nothing Safer Than Cash’: Tech Rout Puts Silicon Valley on Edge
        • ‘Any News Is Bad News’ as Earnings Fail to Save Equity Bulls
        • ‘50 Cent’ Profited From Volatility Jump, Wells Fargo Says
        • ‘Beaten Down’ ETF Is a Way to Play Inverted Curve, BofA Says
        • Close
      • Opinion
          • Opinion-How-Will-The-Coronavirus-Affect-The-Stock-Market-Opinion: Coronavirus – What Advisors Need to Know
          • opinion-investors-conquered-fees-next-up-is-their-own-behaviorOpinion: Investors Conquered Fees but Not Their Own Behavior
          • Investor-Confidence-In-Stocks-Rightly-Declines-Opinion-772x485Investor Confidence in Stocks Rightly Declines: Opinion
          • Opinion-Schwabs-Zero-Commission-Decision-Challenges-Its-Ria-ClientsOpinion: Schwab’s Zero Commission Decision Challenges Its RIA Clients
        • Close
      • Fintech News
          • System outageMerrill Systems Hiccuped on Thursday as Stocks Slid
          • 7 dollar rolls‘The Rock’ Invests in Finance App Acorns, and New Users Get $7
          • TraderHigh-Frequency Traders Love Business With Robinhood
          • EtheriumJay Z, Charles Schwab-Backed Ethereum App Opens Doors to Public
        • Close
      • From the Publisher
          • 2021 PredictionsFrom the Publisher: Sirianni’s Predictions for 2021
          • Josh Rogers – 772×485Seven Questions with Tony Sirianni: Josh Rogers, Founder and CEO, Arete Wealth
          • Phil Hildebrandt — 772×485Seven Questions with Tony Sirianni: Phil Hildebrandt, Principal, CEO of Segall Bryant & Hamill
          • Christian Hyldahl, President of Varium Investment Partners-772×485An AdvisorHub Interview with Christian Hyldahl, President of Varium Investment Partners
          • John Peluso – 772×485Timely interview with John Peluso and AdvisorHub CEO Tony Sirianni
          • Louis Dworsky Coronacrash Interview-772×485Coronacrash Update: Hayden Royal’s Louis Dworsky & Tony Sirianni
          • Stratos_Jeff pic.jpg-772×485Coronacrash Update: Stratos Wealth Partners’ Jeff Concepcion & Tony Sirianni
          • coronacrash ben harrison – 772×485Coronacrash Update: BNY Mellon | Pershing’s Ben Harrison & Tony Sirianni
        • Close
    • Close
  • Deals & Comp
  • Recruiting Wire
  • Breakaway Center
  • Resources
    • resources-home-menuResources Home
    • PRACTICE MANAGEMENT RESOURCESPractice Management Resources
    • Transition ResourcesTransition Resources
    • Fintech ResourcesFintech Resources
    • menu fintechFintech Product Directory
    • Menu-Institute-772×485Institute
    • Boutique Wealth AdvisorsBoutique
    • EventsEvents
    • Asset Manager Hub
    • Close
  • AdvisorHub TV
  • Podcasts
  • RIA Center
  • Virtual Summit
close X
February 13, 2020

Stifel Recruiting Head John Pierce Leaves After Four Years

by AdvisorHub Staff
|
News
|
Stifel
|
Comments (11)
Share This
SUBMIT A TIP
Stifel Recruiting Head John Pierce Leaves After Four Years
Stifel Recruiting Head John Pierce Leaves After Four Years

Stifel Financial has parted ways with its head of retail broker recruiting.

John R. Pierce, who was hired by the St. Louis-based firm just over four years ago to expand recruiting into its core Stifel Nicolaus brokerage arm, left abruptly on Monday.

Senior executives at the company reportedly raised concerns about his involvement in a web article touting his outsized influence on the firm’s proclaimed recruiting success, according to two sources outside the company. It was breathlessly titled, “Stifel’s Historic Recruiting Surge: The Man Behind the Firm’s Epic Pivot from Passive Recruiting to Two Years of Domination.”

Pierce, who began his brokerage career 25 years ago, said he is on garden leave until May 11. He declined to comment on the circumstances of his departure.

The publisher of the article, a recruiting site called “BrokerChalk,” posted a short article Thursday saying it “did not speak to Mr. Pierce” in preparing the piece and calling his dismissal “a mystery.” The website includes items signed by Andrew Parish, the founder of “AdvisorHub” who is no longer affiliated with the publication.

A Stifel spokesman confirmed that Pierce has left, but declined to explain his departure, whether he will be replaced and how it could affect future moves and ongoing negotiations. During Pierce’s tenure, Stifel hired several veteran wirehouse managers—including Merrill Lynch’s Robert Johnson and UBS/PaineWebber’s James Van Steenhuyse—to bolster its brokerage ranks.

Stifel last quarter added a net 30 advisors, and a net 76 in all of 2019, ending the year with 2,222 advisors in 382 branches. That’s down from 2,282 brokers when Pierce began at Stifel in January 2016, but new brokers had substantially larger books of business than the average Stifel broker, CEO Ron Kruszewski said on an earnings call last month.

Customer assets at Stifel’s private client group rose to $329.5 billion at the end of December from $219.9 billion when Pierce joined four years earlier, though asset growth reflects steady market gains as well as customers brought in through recruiting. The 2019 recruits were cumulatively managing $17 billion in client assets and producing $119 million at their prior firms, Stifel said last month.

In addition to continuing its “strategy of recruiting experienced advisors with established client relationships,”  Stifel has made eight retail brokerage acquisitions over the past 15 years (including 56 midwestern branches from UBS in 2009), according to the presentation slides. In 2008, it had 1,315 advisors in 196 branches.

Pierce started his career at Merrill Lynch in 1993 and moved to Glen Eagle Advisors in 2007 and then Ameriprise Financial Services in 2008, according to his BrokerCheck. He had been head of recruiting for Ameriprise’s employee channel until leaving in August 2014 to join an a company making loans to advisors, according to his LinkedIn. He joined Stifel as head of recruiting in January 2016, according to the job networking site.

Like this article? Let AdvisorHub come to you!  Sign up

Share This
Comments (11)
  • on Feb 13 2020, Tommy says:

    That guy would send me nasty-grams whenever I contacted his guys. It was comical!

    > Reply to Tommy
    • on Feb 13 2020, JC says:

      Same here! And then he would try to get me to join his company. As if I would want any part of that!

      > Reply to JC
      • on Feb 14 2020, TonyT says:

        Yes. Unchecked bad behavior. Hopefully he doesn’t wind up at one of our companies.

        > Reply to TonyT
  • on Feb 13 2020, Ron Edde says:

    Stunning development. John was incredibly effective in his role there at Stifel, just as he was at Ameriprise before that. Talented guy. Little doubt that he will land somewhere soon.

    > Reply to Ron Edde
  • on Feb 13 2020, Gee says:

    He Definitely had a Big Impact on Stifel Win’s,Wish him well

    > Reply to Gee
  • on Feb 13 2020, hazel burke says:

    sounds like a shady dude. The place is full of old transaction junkies that don’t want to retire. Client complaints? Don’t sweat it, we will get you approved.

    > Reply to hazel burke
    • on Feb 14 2020, The Truth Screamer says:

      Karma. Stifel is better now.

      > Reply to The Truth Screamer
  • on Feb 13 2020, Hammerin Hank says:

    take a look at his CRD, red dot city.

    > Reply to Hammerin Hank
    • on Feb 14 2020, mikem says:

      Hank thanks for pointing out his CRD- 24 years in the business- 4 Items- Last “complaint” 16 years ago- 1 Denied and dropped- all three settled- two for cents on the dollar- and all 4 were from 1998-2004- No findings were ever put forth that John did anything wrong-nor was he required to pay anything himself- the legal teams were handling tens of thousands of complaint during that period as you might recall- and were settling most without input from advisors-Most importantly- read the comments on the CRD- Had he done anything wrong he would have been dismissed- not promoted to run one of the largest franchises at ML-and then-years later- onto bigger and better with Ameriprise and Stifel- where he brought in some of the largest fee based producers in the industry- from firms like Merrill, Morgan and Wells- Red Dot City? John has achieved success and contributed- for years-to the lives of advisors he has worked with and every firm he served in a senior leadership role- The facts about his CRD- which you left out -and characterized as ‘Red Dot City’ can now at least be assessed fairly- IMO not even a speed bump in a long successful career.

      > Reply to mikem
      • on Feb 14 2020, Gee says:

        You Nailed It!!

        > Reply to Gee
  • on Feb 14 2020, SFisDinoLand says:

    Glad he is gone…He was recruiting too much New York attitude into our Ben Gay factory…

    > Reply to SFisDinoLand

Leave a Reply Cancel reply

Tony Sirianni Podcast Banner

CORONACRASH NEWS

  • Finra Scrutinizes Brokers Who Took PPP Loans for Potential Violations

    Finra Scrutinizes Brokers Who Took PPP Loans for Potential Violations

    Jan 25, 2021
  • Merrill Touts Success of Growth Strategy in Pandemic-Afflicted Year

    Merrill Touts Success of Growth Strategy in Pandemic-Afflicted Year

    Jan 19, 2021
  • Raymond James Slashes CEO Pay 17% in Turbulent Year

    Raymond James Slashes CEO Pay 17% in Turbulent Year

    Jan 8, 2021
  • Solomon Sees Vaccine Bringing Goldman Staff Back by End of Year

    Solomon Sees Vaccine Bringing Goldman Staff Back by End of Year

    Jan 5, 2021
  • J.P. Morgan Bank Broker Cleared of Coronavirus Crash Claim

    J.P. Morgan Bank Broker Cleared of Coronavirus Crash Claim

    Dec 4, 2020

NEWS

  • UBS Wealth Americas Profit Hits Record with Fewer Brokers

    UBS Wealth Americas Profit Hits Record with Fewer Brokers

    Jan 26, 2021
  • Hightower Takes Stake in $830 Million New York RIA

    Hightower Takes Stake in $830 Million New York RIA

    Jan 26, 2021
  • CI Financial Buys Chicago RIA and Asset Manager Overseeing $23 Billion

    CI Financial Buys Chicago RIA and Asset Manager Overseeing $23 Billion

    Jan 25, 2021
  • Finra Bars Ex-Merrill Broker Kenahan After Record NH Settlement

    Finra Bars Ex-Merrill Broker Kenahan After Record NH Settlement

    Jan 25, 2021
  • Morgan Stanley Prevails in TRO Standoff with $6-Mln RBC Team

    Morgan Stanley Prevails in TRO Standoff with $6-Mln RBC Team

    Jan 25, 2021

FINANCIAL INDUSTRY PODCASTS

AllIndependenceSuccess
The must listen-to podcast for financial advisors by Tony Sirianni. Guests to include:
-Ron Kruszewski
-Shirl Penney
-Penny Pennington
-Eric Clarke
and many more
Michael Kitces and Carl Richards discuss financial advising topics.
Suzanne Siracuse asks the questions nobody else asks, as influencers and interviewer collide in her new and truly unique podcast series The Big Reveal.
The “new advice value stack,” and how firms can use it to help maximize their own value propositions for their clients.
The Brighthouse Financial Insights Panel is a group of leading, independent experts providing powerful insights into the big challenges facing you and your clients.
Equipping independent financial advisors with the tips, insights, and knowledge needed to evolve in every aspect of his or her life
Powering Independence Podcast, insights and ideas for RIAs, presented by Dynasty Financial Partners. A podcast dedicated to presenting fresh ideas and best practices for the wealth management industry.
As an industry expert, Frank LaRosa provides guidance and advice on a host of topics from recruiting and transitions, succession planning, practice management, M&A and more.
Our goal is to unlock the challenges to reveal the opportunities and what it means to provide advice in the 21st century.
Our webcast is dedicated to helping our viewers get real insights by avoiding the cognitive dissonance of today’s media outlets and biased editorial filters.
Go behind the scenes with registered investment advisors and other related independent business model experts
As a nationally recognized recruiter and consultant to financial advisors, Mindy Diamond has unmatched experience in introducing advisors to the independent space.
The must listen-to podcast for investors, venture capitalists and financial advisors, with Tony Sirianni and Paul Dietrich.
An Introduction to Independence: 5 Key Episodes to Jumpstart Your Knowledgebase
Jay is an investment strategist, CERTIFIED FINANCIAL PLANNER™ and business consultant to financial advisors.
In this podcast business owners, entrepreneurs and executives reveal their top tips for success.
We interview top financial advisors and visionary voices to bring you the strategies, tips, and tools you need to make a difference in people’s lives.
A financial literacy and commentary show that features a number of investors, financial experts, professional athletes, business owners and more.
Join Sound Financial Group CEO Paul Adams and President Cory Shepherd every week, as they help you Design and Build a Good Life™.
The Kuderna Podcast, focusing on wealth in it's original meaning- a state of well being.
Timeless wisdom, actionable information you can use right now to make smarter investment decisions.
Made for and dedicated to those folks serious about their financial plan.
Latest News 
Advisor Moves 
Enforcement 
Opinion 
  • About Us
  • Contact Us
  • Advertise
  • Events
  • Careers

 get our newsletter

Industry focused content and breaking news.

SIGN UP

Contact Us

EMAIL US
1707 Post Oak Blvd.
#484
Houston, TX 77056

© 2021 AdvisorHub
  • |Terms of Use
  • |Privacy Policy
  • |Advertise
  • |Careers
  • Facebook
  • Linkedin
  • Twitter

Back to top