Wells Fargo advisers with $341M in combined AUM join Benjamin Edwards
Six advisers overseeing $341.7 million in client assets left Wells Fargo to join Benjamin F. Edwards, according to the company.
The firm also hired a Stifel manager, Peter Kramer, as its Chicago market manager. In the newly created position, Kramer is charged with growing the firm's presence in the Chicagoland area, where Benjamin Edwards has two offices and 14 advisers.
While at Stifel, Kramer oversaw almost 30 advisers, according to Benjamin Edwards.
"Peter’s presence in Chicago will also help us attract talent and expand our footprint in that important market," Marty Altenberger, Benjamin Edwards' director of branches of, said in a statement.
A spokesman for Stifel declined to comment. Kramer made the move two months ago, according to FINRA BrokerCheck.
Among the regional firm's newest advisers, all had previous work experience at A.G. Edwards, per BrokerCheck. Benjamin Edwards was founded by Benjamin F. "Tad" Edwards IV in 2008 after the acquisition of his family's namesake firm was acquired by Wachovia and subsequently Wells Fargo.
The regional BD, which is based in St. Louis, has had success in pulling over wirehouse advisers, particularly those who started their careers at regional firms which later merged with or were acquired by larger banks. Benjamin Edwards has 60 branch offices in 26 states and more than 450 employees, according to the firm.
Among Benjamin Edwards' new advisers are Theresa Clemmons and Greg Thornton, who opened a new office in Chandler, Arizona. Also moving with Clemmons and Thornton is Kristin Lindsey, a registered financial associate.
In Springfield, Illinois, the firm hired Nancy Parsons. William Parrilli, a 35-year industry veteran, joined Benjamin Edwards in Wheaton, Illinois.
The firm's statement also mentions two earlier grabs from Wells Fargo. In October, adviser Mavis Lehr left the wirehouse to join Benjamin Edwards' office in Berryville, Arkansas, according to the firm. James Duralia, an adviser with more than 30 years of experience, also joined the firm in October. He is based in Mentor, Ohio.
A spokeswoman for Wells Fargo could not be reached for immediate comment.