Andrew Welsch

The firm plans to entice new customers through its stock plan administration and financial wellness businesses.

The firm typically trains its own advisors in lieu of recruiting talent from the competition.

The firm added 40,000 new accounts last year and hit a record $3 trillion in client balances.

The recruits include a father-son duo from UBS.

The bank continues to struggle with attrition due to scandals, regulatory scrutiny and a graying workforce.

The advisor switched firms only to see his new employer close shop 18 months later.

“This didn’t seem like a very fair process,” says the ex-advisor, who was ordered to pay the firm $206,000 for breach of promissory note.

The advisors left Wells Fargo, signaling Stifel’s recruiting push will extend into 2020.

The firm commission-free platform already included all Vanguard mutual funds and ETFs as well as thousands of third-party funds.

The firm’s supervisory systems did not identify brokers who recommended clients engage in potentially unsuitable early rollovers of UITs, the regulator said.

More often than not, wirehouses were on the losing side of these moves.

Other firms have trod a similar expansion path — and stumbled. Will Laidlaw find its footing?

The new hires signed on with the firm’s employee broker-dealer.

These shortcomings were primarily due to “systemic, longstanding, governance-level weaknesses,” a new report says.

The wins came at the expense of Merrill Lynch, UBS, Raymond James and Wells Fargo.

Core payout rates for advisors will not change, but the wirehouse is making changes intended to spur advisors to focus on larger clients.

Some advisors may see their pay rise in 2020.

It’s the second biggest move in 2019, and includes an advisor featured in On Wall Street’s Top 40 Under 40.

On the losing side of this exchange: Wells Fargo, UBS and Merrill Lynch.

The new hires come from rivals Merrill Lynch, Wells Fargo and RBC.