After an aggressive year poaching financial advisors from wirehouses, Stifel Financial’s broker-dealer subsidiary Stifel, Nicolaus & Company has landed several breakaways collectively managing more than $2 billion just in the first three weeks of 2019, the company says.
In Fort Worth, Texas, Stifel nabbed Toby Ardoyno and Toni Rose for its 12th private client group office in the state, the company says in a press release. Ardoyno and Rose collectively oversaw more than $1 billion at Merrill Lynch, Stifel says. And Jonathan Register, who previously managed $100 million at Merrill Lynch, has joined Stifel’s Birmingham, Ala., office, according to the press release.
In Cincinnati, Stifel has lured Todd Haacke, Todd Hicks, Jeff Scheper and Brad Clasen, the company says. The team previously oversaw $800 million at Morgan Stanley, according to the press release.
And in New York, Stifel picked up Clifford Bartlett III from Wells Fargo Advisors earlier this month, as reported. Bartlett oversaw $100 million at the wirehouse.
Bob Johnson, managing director of Stifel’s Southwest Region — a 22-year Merrill Lynch veteran who left the wirehouse for Stifel in April — is overseeing the firm’s expansion in Texas, Oklahoma and Colorado, a Stifel spokesman tells FA-IQ.
“We are coming off a record recruiting year in 2018, and 2019 is off to a torrid pace” John Pierce, Stifel’s head of advisor recruitment, says in a statement. “Increasingly, advisors who are working under bank-owned entities are turning to Stifel because the financial advisor is our brand, not the bank. We continue to be agnostic to fee-based or brokerage business – we pay the same either way and let the advisor do what is best for their clients.”
Last month, Pierce told FA-IQ that Stifel has become the destination of choice for wirehouse advisors. The recruiting has been persistent: last month, Stifel nabbed several advisors from Merrill Lynch, Wells Fargo and Morgan Stanley who collectively oversaw more than half a billion dollars.