$619M advisors quit Wells Fargo to join Stifel
In its latest recruiting grab, Stifel snapped up five advisors overseeing $619 million in client assets from rival Wells Fargo.
The regional BD has been picking off talent from its largest wirehouse rivals on its recent hiring streak. Earlier this week, Stifel said it recruited a $500 million Merrill Lynch team to staff a new office in Southbury, Connecticut.
Recruiting efforts boosted Stifel’s headcount to 2,193 advisors for the third quarter from 2,149 in the year-ago period, according to the firm’s earnings report.
Stifel’s newest additions joined in four locations.
In Rancho Bernardo, California, the firm recruited a father-son team. Doug and Kevin Bowcock oversaw $243 million in client assets, according to Stifel.
Doug Bowcock has been an advisor for 28 years. He has past work experience at Wells Fargo, A.G. Edwards and Morgan Stanley. The younger Bowcock started his career at Wells Fargo in 2012, according to FINRA BrokerCheck.
Former Wells Fargo advisor Allen Hammonds joined Stifel in Greensboro, North Carolina. He was previously responsible for $165 million in client assets. Hammonds is a veteran advisor and has spent virtually all of his 34 years in the business at Wells Fargo and its predecessor firm Wachovia.
In Lawrence, Kansas, Stifel hired Matthew Neis. While at Wells Fargo Advisors, he oversaw $111 million in client assets. Neis had been with the firm and predecessor A.G. Edwards since 1999. Prior to that, he worked at Edward Jones.
And finally, Karen Ward joined Stifel in Okemos, Michigan. Ward managed $100 million while at the wirehouse, Stifel said. Like the other new Stifel hires, Ward is an industry veteran with three decades of experience. She’s worked at Wells Fargo and predecessor firm Prudential Securities.
A Wells Fargo spokeswoman declined to comment on their departures.