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Merrill Lynch, UBS, Edward Jones and Raymond James All Lost Talent to This Rival Last Month

November 5, 2018

Stifel Financial’s aggressive recruiting streak continues unabated, with the firm luring several advisors from rivals Merrill Lynch, Raymond James and UBS who collectively managed close to $660 million, according to ThinkAdvisor.

Chris Buccheri and Dave Harris join Stifel from Merrill Lynch, where they oversaw $330 million, the publication writes. They will be based in Bel Air, Md., and Naples, Fla., according to ThinkAdvisor.

Also joining Stifel’s Naples office is Dan Long, who oversaw $55 million at UBS, the publication writes.

In Scottsdale, Ariz., Stifel has added Rachel Hall, who oversaw $33 million at Raymond James, according to ThinkAdvisor. And in Paducah, Ky., Stifel lured Elliot Treece and Martin Nichols from Edward Jones, where they collectively managed $140 million, the publication writes.

“This week’s diverse hires are representative of our recruiting year and reflect that advisors want to be appreciated and given the freedom to serve their clients as they see fit,” says John Pierce, Stifel’s head of recruiting, according to ThinkAdvisor. “In a nutshell, ‘culture matters,’ and Stifel’s advisor-centric entrepreneurial culture is a huge selling point for many advisors.”

Stifel’s recruiting has been particularly strong in the past few months. In the third quarter, the firm added 31 new advisors, its largest quarterly increase in a decade excluding acquisitions, Ronald Kruszewski, Stifel’s chairman and CEO, recently said.

By Alex Padalka
  • To read the ThinkAdvisor article cited in this story, click here.