Benjamin Edwards opens new offices, grabs $188M wirehouse advisers

Benjamin F. Edwards opened two new offices staffed by three ex-Wells Fargo brokers who oversaw $188 million in client assets, according to a spokeswoman.

Richard Cisar and Andrew Kjolsrud joined Benjamin Edwards last week at the new Sierra Vista, Arizona, branch.

Cisar will serve as branch manager, according to the regional firm. He is an industry veteran, having started his career at Morgan Stanley in 1990, according to FINRA BrokerCheck records. He moved to A.G. Edwards in 2002.

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Kjolsrud began his career at the same firm four years later. The two advisers stayed through A.G. Edwards' acquisition by Wells Fargo during the financial crisis.

In addition, Kristi Canford also joined the office as a financial client associate.

Ex-wirehouse adviser Kathy Watts, an 18-year industry veteran, joined Benjamin Edwards in Metairie, Louisiana. Like Cisar and Kjolsrud, Watts has previous experience at A.G. Edwards.

Also working at the same location as Watts are Desiree St. Paul, financial client associate, and F. Kirby Newburger, a senior vice president of investments.

A Wells Fargo spokeswoman declined to comment on the departures.

Since its founding in 2008, Benjamin Edwards has grown to 63 branch offices and 450 employees, according to the firm.

Benjamin Edwards opened a new office earlier this month in Germantown, Tennessee. The firm recruited a group of Wells Fargo brokers for that office; an additional adviser joined in Boynton Beach, Florida. Collectively, they oversaw $464 million in client assets.