Extending Wells Fargo poaching streak, Stifel lands $327M team
Stifel’s knack for extracting advisors from Wells Fargo continues with its latest hire of a team that managed $327 million in client assets.
Advisors Jerry Raders, Teresa Hunter and Jonathan Montgomery will join Stifel’s McAllen, Texas office, which just opened in January. That brings the advisor count of that new office to five. Coming along with the team is Sharon Cavazos, client service associate. Raders will serve as branch manager.
Stifel has racked up several new hires this year from Wells Fargo: a team that opened the Owosso, Michigan offices in August, for instance; another team in Sioux Falls, South Dakota; and one in Bellevue, Washington in July.
The firm also signed on a big-ticket ex-UBS team in August that managed $1 billion in assets.
Raders brings 27 years of experience to Stifel after logging the last 12 years at Wells Fargo and, before that, at A.G. Edwards, according to FINRA BrokerCheck records. Hunter, who has 15 years of experience, also spent the last 12 years at Wells Fargo. Montgomery spent his 12-year-to-date career at his former firm.
“I’d been seriously looking to move for the last two years,” Raders says. “Stifel’s corporate culture is what won the day. I was looking for a [one] that resembled A.G. Edwards. I wanted to work for a firm that respects and puts forth the client and financial advisor relationship above all.”
Stifel's advisor ranks rose to 2,232 for the second quarter from 2,193 for the year-ago period. The St. Louis-based firm’s growing advisor force operated from 447 branches, up from 413.