Stifel starts 2020 recruiting push with $217M in new hires
Stifel hired three advisors managing a combined $217 million from Wells Fargo, signaling that its aggressive recruiting push will extend into 2020.
The regional BD has been courting talent, primarily from the wirehouses, in a bid to bolster its brokerage ranks. Last year’s recruits included a $1-billion Merrill Lynch team in Fort Worth, Texas, one of the biggest moves of 2019.
Stifel’s new hires include Robb Adams, who left Wells Fargo after 19 years at the company. He started his career at A.G. Edwards, a predecessor firm of Wells Fargo.
The Augusta, Georgia-based advisor oversaw $95 million, according to Stifel.
Two other former Wells Fargo advisors — Montgomery Meeks and Brad Ransom — joined a Stifel branch in Indianapolis. Meeks and Ransom oversaw $63 million and $59 million in client assets, respectively.
Like Adams, both men started their careers at A.G. Edwards in 2004 and 2005.
A Wells Fargo spokeswoman declined to comment.
“Advisors are voting with their feet for simplicity, transparency and respect for their business,” John Pierce, head of recruitment, said in a statement. Stifel had 2,193 advisors at the end of the third quarter, up from 2,149 for the year-ago period. The firm has yet to report fourth-quarter earnings.