Stifel Hires $3.85-Mln UBS Team in FL, $1.2-Mln Merrill Team in PA
Stifel Nicolaus & Co. has nabbed wirehouse teams in Florida and Pennsylvania as it looks to jumpstart a slow first half for veteran broker recruiting in 2021.
In a statement, the brokers touted Stifel’s “rich history and culture” and its equities research as factors in their move. They did not return a call for comment on their move. They moved along with one client associate, Diane Scoggins, who is Jason’s wife, according to her former UBS biography.
Moreland and Scoggins, who started at Morgan Stanley in 1998 and 1993, respectively, joined UBS together in December 2008, according to BrokerCheck.
White III started at PFS Investments in 1986, moved to Morgan Stanley in 2000 and also worked at Merrill Lynch and its Banc of America Investment Services predecessor before joining UBS in 2011. The younger White started in asset management at Franklin/Templeton Distributors in 2013 and also worked at Van Eck before joining UBS as a broker in 2019, according to BrokerCheck.
A spokesperson for UBS did not immediately return a comment. UBS on Friday hired a solo practitioner with $500 million in assets and $2.6 million in annual revenue from regional RBC Wealth Management-U.S. in New Jersey.
Separately, in the same state, the father-daughter team of Steven A. Bullard and Esther Bullard left a Merrill branch in Princeton, New Jersey on Friday to join Stifel’s Conshohocken, Pennsylvania, office.
The two had managed around $138 million in customer assets and generated $1.2 million in annual revenue, a Stifel spokesman confirmed.
Steven Bullard worked for a rookie year at Monmouth Investments in 1987 and then spent 26 years at Morgan Stanley and its Smith Barney predecessor before joining Merrill in 2014, according to BrokerCheck.
Esther Bullard joined her father at Merrill in 2014.
Stifel had 2,282 brokers as of June 30, up by a net eight brokers from the prior quarter and 50 year-over-year. But the company said it hired just 14 “experienced” brokers in the quarter compared to 28 in the same quarter last year.
Stifel earlier this month hired four brokers in New York City who had been managing $764 million in customer assets, although two veterans on the team stayed behind at UBS.