Stifel grabs 5 wirehouse advisors with $420M
Stifel is on an aggressive hiring push. The firm recently picked up five more financial advisors from rivals Wells Fargo and UBS, a spokesman confirmed.
The new recruits joined the St. Louis-based brokerage firm last week and oversaw more than $420 million in client assets while at their former employers. The moves build on Stifel’s recent recruiting successes. Last week, the company said it picked up five advisors overseeing $660 million in client assets.
Stifel, like other regional BDs, have been picking up wirehouse advisors who are looking to join what they say are smaller, less bureaucratic firms. Many of the advisors leaving wirehouses also have past work experience at regional brokerages, such as A.G. Edwards, that were acquired by or merged with bigger banks during the financial crisis.
The regional BD's three hires come from Wells Fargo and Ameriprise.August 9
Stifel is expanding on the West Coast, hiring 13 recruits in California year-to-date.July 30
Among the latest hires are former Wells Fargo advisors John Noerdlinger and Tom Cotrone, who joined Stifel’s branch in Oklahoma City, Oklahoma. While at the wirehouse, they oversaw $135 million and $105 million in client assets, respectively.
Noerdlinger had worked at Wells Fargo or its predecessor firm, A.G. Edwards, since 1994, according to FINRA BrokerCheck records.
Cotrone, an industry veteran of 31 years, also has past work experience at A.G. Edwards, which he joined from UBS in 2002, per BrokerCheck records.
Also joining from Wells Fargo are advisors Vicki Bayley and Jerod Havel. The two advisors, who oversaw $72 million in client assets, now operate from Stifel’s office in Modesto, California. With their addition, that branch, which opened in May, has nine brokers, according to Stifel.
Like Noerdlinger and Cotrone, Bayley had past work experience at A.G. Edwards. She joined the longtime regional BD in 2003 from Merrill Lynch, and then stayed through its acquisition by Wells Fargo in 2008.
Havel started his career at Wells Fargo in 2015, according to BrokerCheck.
Stifel’s fifth new hire is advisor Virginia Kuwahara, who previously was affiliated with UBS. She now works at Stifel’s Rancho Bernardo office, also in California. While at UBS, she was responsible for overseeing $110 million in clients’ assets.
Kuwahara is an industry veteran of 41 years, and spent 30 years at UBS, according to BrokerCheck.
Spokespersons for Wells Fargo and UBS declined to comment.