The firm expects that 95 to 105 Barclays advisers overseeing $25 billion in assets will transition to Stifel. When the deal was announced, Stifel said that the Barclays unit had about 180 advisers overseeing $57.9 billion in client assets.
Terms of the deal have not been disclosed – making it difficult to judge whether the firm is paying a good price for the unit, insider observers say. Yet by one measure, the Barclays unit will contribute less to Stifel's revenue.
The St. Louis-based firm said it now expects the unit to add $210 million to $230 million in revenue, compared to $332 million when the acquisition was first announced.
With Stifel Deal Pending, Advisor Attrition Spikes at Barclays | IAG Breaking News:
Mark Astarita represents brokers and advisers in their transitions between every major broker-dealer, and has been doing so for decades. He is the founder of SECLaw.com, his web site is www.securitieslawyer.us and his firm's site is www.sacllc.com