Stifel grabs $350M team from Wells Fargo

Wells Fargo lost a team managing $350 million in client assets to Stifel, according to the regional BD.

Advisers Kent Ray, Jeff Siefert, and Greg Seiler joined Stifel in Portage, Michigan, the company says.

They made the move in part for Stifel's culture, Ray said in a statement.

The veteran adviser began his career at Hall Securities in 1984, according to FINRA BrokerCheck records. He moved to A.G. Edwards four years later and stayed through that firm's acquisition by Wells Fargo.

• Going independent
• Career moves
• Regional BDs
• Recruiting
• Wirehouses
• Wirehouse advisors

Recruiting momentum: Who's hot and who's not?

A look at which wirehouse and regional firms have been the most successful in attracting top recruits – and how things may shape up this year.

By Andrew Welsch

1 Min Read

Seiler and Siefert also started their careers at A.G. Edwards, in 2000 and 2007 respectively.

A Wells Fargo spokeswoman was unavailable for immediate comment.

Stifel has been on a recruiting push in recent months, picking up teams from both wirehouses and rival regional BDs. Earlier this month, the firm picked up two RBC advisers managing $180 million in St. Joseph, Michigan.

"We've hit the ground running on the recruiting front this year," said John Pierce, head of Advisor Recruiting at the St. Louis-based firm.

Stifel has more than 2,280 advisers as of Dec. 31, according to the firm's latest earnings report.