More FAs Jump Ship for Stifel
Stifel Financial shows no signs of slowing down its months-long aggressive recruiting spree, adding on the heels of several big hires from wirehouses a team of RBC financial advisors collectively managing $441 million, Stifel says.
Rhonda Smith and Lynn Syler, who previously oversaw $293 million at RBC, and Mark Gallinatti, who managed $148 million at RBC, are joining Stifel, Nicolaus & Co., Stifel’s broker-dealer subsidiary, according to a press release from Stifel. The three advisors are joining Stifel’s new private client group office in Tacoma, Wash., Stifel’s sixth in the state, the company says. Gallinatti will serve as the branch manager for the new office, according to the press release.
In recent months, Stifel has been poaching advisors from rivals on a steady basis. Just last week, the firm announced several new hires who collectively managed $838 million at Raymond James, Wells Fargo Advisors, Janney Montgomery Scott and Umpqua Investments.
And earlier this month Wells Fargo lost several teams to Stifel who collectively managed more than $1.3 billion, while Merrill Lynch lost a pair of advisors who managed $590 million to Stifel. The month prior, Stifel nabbed still more Merrill Lynch and Wells Fargo advisors who collectively managed more than $1.1 billion.
RBC, meanwhile, recently lost an experienced advisor to Robertson Stephens Wealth Management.
But RBC has been luring advisors this year. In May, it picked up a Morgan Stanley advisor overseeing $177 million as well a two advisor teams overseeing more than $225 million at Wells Fargo and a Merrill Lynch producer managing over $250 million. And in April, RBC lured advisors from Raymond James and UBS.