Stifel hires $213M wirehouse advisors

Stifel hired three financial advisors managing a combined $213 million in client assets, the company said.

The regional BD has stepped up its recruiting efforts in recent years, targeting wirehouse advisors dissatisfied with the big banks.

Its most recent hires reflect that trend. In Cookeville, Tennessee, advisors Frank Bellar, Jr., and his son, Frank Bellar III, left UBS to join Stifel. Together, they oversee $136 million in client assets.

The elder Bellar started his career at J.C. Bradford in 1978, according to FINRA BrokerCheck records. In 2000, he moved to UBS. His son joined him at the firm in 2014, according to BrokerCheck.

In Washington, Stifel hired Zachary Karr. The former Wells Fargo advisor managed $77 million, according to his new employer.

Karr began his career at Signator Investors in 2003, transitioning to A.G. Edwards in 2004. He stayed with that firm following its acquisition by Wells Fargo in 2008, according to BrokerCheck.

Spokespersons for UBS and Wells Fargo declined to comment.

Earlier this month, Stifel said it hired three advisors managing a combined $217 million. Those advisors also left Wells Fargo, which reported this week that its headcount was down a net 456 from the prior year, dropping to 13,512 advisors for the fourth quarter from 13,968.