© 2020 Arizent. All rights reserved.

Stifel snags $450M team from Merrill

Stifel-slideshow-size
Register now

Stifel picked up three advisors from Merrill Lynch, accelerating its recruiting efforts.

The team oversaw $450 million in client assets and joined Stifel in Dallas, according to the company. The group is comprised of advisors John “Woody” Abbott, Shane Stein, and Eli Tabaria.

Abbott moved from UBS to Merrill Lynch in 2008, according to FINRA BrokerCheck records. Stein joined him at the wirehouse the following year and Tabaria started work at Merrill in 2012, according to BrokerCheck.

J.R. Koeijmans, Stifel’s branch manager, said the team’s addition was “a testament to the environment the firm has created of putting clients first and respecting our advisors’ knowledge and talents.”

St. Louis-based Stifel restarted recruiting advisors after an initial pause following the outbreak of the coronavirus earlier this year. In nearby McAllen, Texas, Stifel hired an ex-Wells Fargo team that oversaw $327 million in client assets. Earlier this month, the firm picked up a former UBS team that managed $1 billion in Southfield, Michigan.

The company’s aggressive recruiting tactics have pushed its advisor headcount to 2,232 for the second quarter from 2,193 for the year-ago period, according to Stifel’s earnings report. The firm’s growing advisor force operated from 447 branches, up from 413.

A Merrill Lynch representative was unavailable for immediate comment.

Earlier this month, Stifel said it hired a new business development manager for Colorado to lead recruiting efforts in the state. Natalie Mahler joined the firm from Merrill Lynch. She will also serve as branch manager of the firm’s Cherry Creek office.

Stifel also hired two ex-Wells Fargo advisors to staff a newly opened office in Festus, Missouri. Rita Mahn and Kyle Gowen previously oversaw $150 million, according to Stifel. Mahn will serve as branch manager of the new office.

For reprint and licensing requests for this article, click here.