Stifel and RBC recruited five advisors who collectively managed approximately $470 million in client assets, according to spokespeople for the companies.
The moves show
Many of these hires — including two of Stifel’s new recruits — have come at the expense of wirehouses.
“They appreciate the fact that we have liability-side capabilities, but we do not push or cross-sell banking solutions,” John Pierce, Stifel’s head of recruitment, said in a statement.
Mark Melillo, the largest of Stifel’s new advisors with $81 million in client assets, joined the firm from Wells Fargo Advisors. He is based in Yardley, Pennsylvania. Melillo had been with Wells Fargo for 19 of his 35 years in the business, according to BrokerCheck.
As director of account anagement, Jill Dobbe builds strong relationships with Orgvue clients, guiding them to enhance their organizational planning capabilities through technological solutions. With more than two decades of expertise in strategic planning, human resources, and organizational development—including extensive experience supporting Fortune 100-500 organizations and serving within John Deere and a non-profit healthcare system—Jill is dedicated to empowering organizations to define and achieve their future strategies. Her comprehensive background encompasses successful leadership of initiatives in strategic workforce planning, analytics, organizational design, transformation, and change management across diverse industries and global environments.
A deal is more than just a top-line number and misalignment in culture and communications can cause conflict down the line.
RIA Soltis acquired accounting, tax and advisory firm GDM Private Financial Solutions, the latest example of client demand for integrated wealth and tax planning solutions.
In Memphis, Tennessee, Stifel hired former Hilliard Lyons advisor Allan Bowden. He was responsible for $75 million in client assets, according to Stifel. Bowden, who has 44 years of industry experience, had been registered with Hilliard Lyons since 1991.
Bowden left the Louisville-based firm ahead of its
Stifel also hired Grayson Hopper from Merrill Lynch, where the Austin, Texas-based advisor had overseen $74 million in client assets, according to his new employer. Hopper had been with Merrill or Bank of America since 2003, according to BrokerCheck.
RBC’s new hires, Arch Hoffman and Luna Xu, also joined from Merrill Lynch. The San Francisco-based team previously managed $238 million in assets, according to RBC. Hoffman has a decade of industry experience. Xu has four years.
Spokespersons for Merrill Lynch and Hilliard Lyons could not be reached for immediate comment. A spokeswoman for Wells Fargo Advisors declined to comment.
