Stifel Financial’s broker-dealer subsidiary, Stifel, Nicolaus & Company, has poached several advisors collectively managing well over half a billion dollars from several of its rivals in the past few days, the company says.
In Plymouth, Mass., Stifel has added Joseph Crespi, who previously managed $206 million at Merrill Lynch, Stifel says in a press release.
In Memphis, Stifel nabbed the father-and-son team of Jack and Robert Mayer from Hilliard Lyons, where they managed $154 million, Stifel says.
That office already includes John Jenkins, who joined Stifel in September from Wells Fargo Advisors, according to the press release.
And Mark Enriquez joins Stifel’s Center Valley, Pa., office from Morgan Stanley, where he oversaw $140 million, Stifel says. He joins the father-and-son team of John A. and John P. Banks, two more former Wells Fargo representatives who joined Stifel in September, according to the press release.
Finally, Bill Darby joins Stifel’s Atlanta offices from UBS, where he managed $78 million, Stifel says. That office recently welcomed Fred Ross, who joined in November from Raymond James, according to the press release.
“Entrepreneurial financial advisors are responding to our open architecture, transparent compensation plans, and lack of bureaucracy, making Stifel the firm of choice to serve their clients,” says John Pierce, head of recruitment at Stifel. “Our job is to support our advisors as they take care of their clients. Our commonsense approach has led to a record number of visits to kick our tires and has translated into high-quality advisors like Jack, Bob, Mark and Bill joining Stifel across the country.”
Stifel has been very active recruiting advisors from the major players in recent weeks. Earlier in December, the firm lured more advisors from Wells Fargo who collectively managed $479 million.
In November, Stifel nabbed several advisors from Merrill Lynch, Raymond James and UBS who collectively oversaw nearly $660 million.