Stifel enticed away a Wells Fargo complex manager to help further its mission of aggressively recruiting new advisers, particularly from wirehouses.
Kevin Ortmeyer joined the regional brokerage firm this week, according to FINRA BrokerCheck records. A spokesman confirmed the new hire.
Ortmeyer will serve as a regional director in St. Louis and oversee Stifel's expansion efforts primarily in the middle of the country: Colorado, Illinois, Kansas, Missouri, Oklahoma and Texas.
Though the wirehouse notched impressive wins, Merrill wasn't the only firm to land elite recruits recently.
While at Wells Fargo, Ortmeyer worked as a market manager in Naperville, a suburb of Chicago. Except for a three-year period interval at PaineWebber, he had been with Wells Fargo and its predecessor firms since joining the industry in 1987, per BrokerCheck.
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It seems that a long bull market in transition deals may be coming to an end.
May 23 -
"It's always nice when one poker player folds and it's down to two or three players," one recruiter says.
May 12 -
The wirehouse's executives think they've struck on the right formula to boost growth through a simplified comp plan, greater autonomy and an attractive retirement package.
April 17
Ortmeyer said he was attracted to Stifel due to its growth.
"Stifel is a fast-growing company with a lot of upside, and I love the entrepreneurial culture for clients and advisers here," he said in a statement.
In recent months, the St. Louis-based
Plus, there was a personal dimension for the Missouri State University graduate.
"Having grown up in central Missouri and lived in St. Louis, I’m excited to come home," Ortmeyer said.
A Wells Fargo spokeswoman could not be reached for immediate comment.
