Tuesday, October 22, 2019

Stifel Brings on $800M, Opens New Office

The chickens are coming home to roost. Wirehouses like UBS, Morgan Stanley and Merrill Lynch have mistreated brokers for years. Now the landscape has changed, and brokers are abandoning the wirehouses for more progressive firms.

Stifel is one of those firms, and just announced the opening of its 16th office, and the hiring of several new brokers, including an advisor who generated $8.2 million in annual revenue at his last firm.

And the firm is marketing its platforms and its new role as a firm for brokers looking to escape the wirehouses: 
Merrill Lynch advisors are integrating incredibly well in our open architecture environment, bringing over, on average, 94% of their books,” John Pierce, Stifel’s head of recruitment, said in a statement. “Stifel is becoming the firm of choice for Merrill advisors looking for the halcyon days of what once was Mother Merrill.
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Sallah Astarita & Cox, LLC has been representing brokers and advisers at wirehouses and regional firms for decades. If you have a question about changing firms, or litigating against your former firm, give them a call at 212-509-6544.

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