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Stifel Grabs $300M Team From Morgan

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Advisors who managed $300 million while working for Morgan Stanley have left the wirehouse for Stifel.

Bill Chaffin, Robert Willgoss, and Alex Monroe managed joined Stifel’s private client group office in Rancho Bernardo, Ca., according to the firm. The move reunites the trio with Stifel's western region director John Lee, who previously worked with the group during a stint at A.G. Edwards.

“Rancho Bernardo will be our 35th office in the state of California since 2007, and I am so excited to be working with Bill Chaffin and his team again,” Lee says.

The advisor team will be joined by Kimberly Wetzel, operations coordinator, and Debbie Muenchow, a client service associate.

Chaffin began his 33-year long career in 1982 with E.F. Hutton and made stops at Prudential Securities and A.G. Edwards before moving to Morgan in 2007. Willgross joined Morgan in 2010 from Merrill, where he worked since 1996. Monroe moved to Morgan a year later.

In last two months, Stifel added $285 million team from regional brokerage Janney Montgomery Scott, acquired smaller broker Stern Agee for $150 million and geared up to acquire Barclays’ wealth unit.

It is still unclear how many advisors will move to Stifel from Barclays, which is to merge its U.S. wealth management operations with the regional broker later this year. Since June, the British bank’s wealth unit  has lost over 50 advisors to rival wirehouses and regionals, according to OnWallStreet reporting.

Meanwhile, Morgan Stanley has lost about a dozen advisors overseeing more than $1.6 billion in client assets since last month to rival wirehouses and regional broker dealers, according to OnWallStreet reporting. 

Correction: The AUM reported for about a dozen former Morgan Stanley advisors has been updated.

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