Stifel
Finra Hits Another Veteran Broker Over UIT Sales
Regulator’s crackdown on unsuitable short-term trading of UITs hits former Stifel broker, now with Wells Fargo, who agreed to a $10,000 fine and three-month suspension.
Stifel CEO Tweaks the Competition
Stifel Chairman and Chief Executive Ron Kruszewski said he welcomes recruiting competition from banks because his firm’s advantage lies in not pushing brokers to cross-sell bank products.
Wells Brokers with $405 Million Leave for Stifel, Cite Small Account Policies
Wells’ payout penalties on lower-net worth accounts didn’t mesh with West Virginia brokers’ small-town client base.
J.P. Morgan Hires $315 Mln Morgan Stanley Trio in Philly, Loses $1.2 Bln Team in NYC
J.P. Morgan Securities emigrees to RBC have 89 years of experience and a big book of music and entertainment clients, while its new arrivals had been with Morgan Stanley and predecessors for 87 years.
Stifel Lands $1.75-Million Husband-and-Wife UBS Team in New Mexico
Separately, UBS hired a novice broker to supplement a big Boston team and nabbed a bank-based broker in Ohio.
$3.7-Million Wells Fargo Bank Team Joins LPL’s ‘Wirehouse’ Channel
Two brokers who managed $500 million in client assets are the third group to join LPL’s five-month-old “Strategic Wealth Services” affiliation model.
RayJay Lands $500 Mln-Asset Wells Team in Philadelphia, $1.2-Bln Group in Kansas
Trio with 106 years of experience left Wells Fargo for RayJay’s Alex. Brown UHNW division, while seven-person UBS team opens a Kansas City for Raymond James and Associates.
Stifel Hires Young Merrill Trio in Texas Producing $3 Million
St. Louis-based Stifel has staffed its Texas branches with almost two dozen Merrill advisors in the past two years.
Stifel Snags $327 Million-Asset Wells Texas Team, Merrill Manager in Colorado
Stifel landed a three-broker team in Texas and has hired a “community markets” manager from Merrill in Colorado to help recruit in the state and oversee an office.
De-Wired: $1-Bln UBS Trio Joins Stifel, $675-Mln Morgan Stanley Quartet to RBC
Michigan brokers managing $1 billion at UBS moved Monday to Stifel, while RBC landed $675-million-AUM Morgan Stanley team in Beverly Hills the same day.
Ameriprise Wealth Q2 Profit Falls 28%
Despite hiring 75 brokers in the second quarter, Ameriprise ended the second quarter with 57 fewer than it had one year earlier.
