Stifel Financial

Stifel chief executive Ron Kruszewski said surging markets have forced firms to be particularly choosy about which advisors they try to poach from rivals. That may change this year.

The team of three advisors have started a firm called T6 Wealth Management, which will operate out of Morgan Stanley's new offices in Midtown Manhattan.

A lawyer in the case says his legal team was able to present text messages showing a Stifel wealth manager had been touting complex structured notes as low-risk investments.

The sale could see up to 50 advisors move to Stifel but doesn't involve B. Riley's 190 independent wealth managers.

After adding 27 advisors in the past three months, CEO Ronald Kruszewski looks at the "recruiting landscape" and likes what he sees.

The advisor at the center of the case, Chuck Roberts, has been the subject of at least 19 customer complaints since late 2022.

The deal comes an ongoing boom in private loans to businesses and consumers.

CFO Jim Marischen commented on the company's cash sweep policies, following industry concerns about the practice.

An aging advisor base, continuing consolidation in M&A deals and shrinking organic growth are causing teams to consider changes, J.D. Power said.

After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.

The surprise new winner of a closely tracked customer report card surged to the top spot from No. 14 in a year of positive marks reflecting rising stock values.

The St. Louis-based firm's earnings fell by 8.4% in last year's fourth quarter. But its wealth management business could not be stifled.

The firm's bottom line took a one-time hit from legal expenses even as it recruited advisors and added to its assets.

In the second quarter of 2023, Stifel's profits were down from last year — except for its Global Wealth Management unit, which saw record growth.

J.D. Power's latest study used a different scaling method that brought down scores across the industry among 15 major firms examined in the firm's annual poll.

Despite an earnings miss, the regional wealth firm said it was well-positioned to grow and retain customer cash, and made a pitch for advisors at less stable firms to hop aboard.

Stifel Independent Advisors grew its advisor headcount 12% and AUM over 70% last year. Its CEO says firms have a major blind spot when supporting independent advisor growth.

The firm is undervalued by the stock market when compared to "two high-quality peers" in Raymond James and Morgan Stanley, its CEO said.

Despite a 21% fall in profits, the Saint Louis-based brokerage pulled in new advisors in both employee and independent channels as its wealth revenue continues to climb.

At 88 years old, Stephen Straus still went to work to serve clients every day “not because he had to, but because he wanted to,” the company’s CEO said.