Andrew Welsch

Stan Leavitt said he was drawn to the regional firm for its culture and financial planning capabilities.

The firm needs a digital advice offering for clients who don't want a traditional relationship, CEO James Gorman said.

The new complex manager will oversee 43 advisers at the regional brokerage.

The firm also said it has benefited from low attrition and its training program.

The advisers previously worked at RBC Wealth Management, with one of them making the firm’s Chairman’s Council.

This is the second time Jefferies has poached Miami-based adviser talent from the wirehouse.

Depending on business mix, some advisers could see a pay cut.

The firm's headcount has steadily declined since the bogus account scandal came to light last year.

"With 15,000 financial advisors, it's hard to change financial planning software. It's hard to change the day-to-day stuff," adviser Jim Denholm III says.

The deciding factor might be ruthlessness.

The four advisers had spent their entire careers at Merrill before making the switch.

"Everything people thought was cool in 2014 is table stakes in 2017," said Kendra Thompson, head of Accenture’s global wealth management practice.

The latest hires join the regional firm from Wells Fargo and RBC.

Wealthy clients are demanding more services and help planning their lives, the regional firm says.

The new comp plan for its employee channel advisers goes into effect in September.

His move is also something of a reunion, as Steward Partners CEO Jim Gold once served as his manager at Smith Barney.

Two large RIAs cut ties with HighTower but new hires include a branding strategist who created Jim Cramer's 'Mad Money.'

The advisers once oversaw approximately $750 million in client assets, according to Barron's.

The move comes the same week that the SEC said it would try to coordinate with the Labor Department on the regulation.

The new hires joined the regional firm from AllianceBernstein.