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Stifel hires $325M wirehouse advisors in latest grab

Stifel hired several wirehouse advisors overseeing $325 million in client assets, a spokesman said.

The new hires — who are industry veterans — are the latest for the regional broker-dealer, which has stepped up recruiting efforts recently.

Among the firm’s biggest hires are Joseph Brady, a former Merrill Lynch advisor who joined Stifel in Binghamton, New York. He previously oversaw $125 million in client assets, according to his new employer.

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Brady, an advisor of 26 years, had been registered with Merrill Lynch since 1998, according to FINRA BrokerCheck records.

He made the move with fellow advisor Robert Garbade on Dec. 20, but Garbade has since returned to Merrill Lynch, according to BrokerCheck records. Garbade is an advisor of nine years experience. Stifel originally issued a press release saying the duo oversaw approximately $175 million in total client assets.

The following 17 teams oversaw about $75 billion in assets. The firms ending the year with prize recruits include a diverse cast: regional BDs, wirehouses, boutiques and RIAs.
December 14

A Stifel spokesman confirmed his departure, but could not be reached for additional comment. A Merrill Lynch spokeswoman also could not be reached for additional comment.

Also joining Stifel from Merrill Lynch is Jonathan Register, who will work from the regional BD’s office in Birmingham, Alabama. While at Merrill Lynch, he was responsible for $100 million in client assets, according to Stifel.

Register is an advisor of more than three decades. He had been registered with Merrill Lynch since 2013, and has past work experience at UBS, Morgan Stanley and Lehman Brothers, according to BrokerCheck records. He joined Stifel on Jan. 11.

Stifel also hired Clifford Bartlett from Wells Fargo in New York. He oversaw $100 million, according to Stifel.

Bartlett, an advisor since 1989, had worked at the wirehouse for a decade before moving. He has past work experience at Smith Barney, PaineWebber and Merrill Lynch among other firms, according to BrokerCheck.

A spokeswoman for Wells Fargo declined to comment.

In December, Stifel said it hired eight advisors overseeing roughly $1 billion in client assets. The majority of those hires also came from wirehouses.

Editor's note: This story has been updated throughout to reflect that advisor Robert Garbade returned to Merrill Lynch after joining Stifel.

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