Stifel lands $298M Janney advisor in latest hire
An advisor overseeing $298 million in client assets left Janney Montgomery Scott to join Stifel, which has been on a hiring push.
Peter Scudner will operate from Stifel's new office in Lancaster, Pennsylvania, which is in the southeastern part of the state.
Scudner, an industry veteran of 33 years, said in a statement that he made the move in part because of the regional brokerage's investment platform, "and the ability to access those capabilities seamlessly to help our clients pursue their goals."
The move marks the firm's second hire in the past week.January 19
‘This move highlights the increasing regulatory burdens faced by independents and the solutions that Stifel can offer,’ regional director Kevin Ortmeyer says.January 12
Stifel says the fact that it owns a bank — instead of being owned by one — is a big appeal in recruiting.December 21
He had been with Janney Montgomery Scott since 2008, according to FINRA BrokerCheck records. Scudner has previous work experience at Smith Barney and Lehman Brothers.
A spokeswoman for Janney Montgomery Scott was unavailable for immediate comment.
Of Stifel's newest office, the firm expects additional growth in that region. "There has been significant interest in this part of Pennsylvania, and we are pleased that Peter chose Stifel to build on his remarkable career," Allen Brautigam, director of branch offices, said in a statement.
Stifel, like other regional brokerages, has been trying to pull in more advisors, particularly from the wirehouses. The firm has attracted several hires recently, including three former wirehouse managers. Tom Thives, who was previously with Wells Fargo, will serve as the firm's New Jersey complex manager based in Florham Park
However, the St. Louis-based brokerage's advisor headcount fell slightly during the most recent quarter. Stifel had 2,244 financial advisors as of Dec. 31, 2017, down eight brokers from the prior quarter, according to the firm's fourth-quarter earnings report.