Stifel nets $125M team in latest recruiting sweep

Stifel recruited a team overseeing $125 million in client assets from Baird, according to a spokesman.

Jon Garberg and Rebecca Hellman joined Stifel's Seattle office.

John Pierce, director of recruiting for Stifel, said in a statement that the firm has been pushing to expand its footprint on the West Coast, citing the efforts of Western Region Director John Lee.

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

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Garberg is an industry veteran. He started his career at E.F. Hutton in 1987, according to FINRA BrokerCheck records. He later worked at firms such as Morgan Stanley and Piper Jaffray before joining McAdams Wright Ragen in 2009. That firm was acquired by Baird in 2014.

Like Garberg, Hellman is also an industry veteran. She began her career at Puget Sound Securities in 1993. She too joined McAdams Wright Ragen in 2009 after working at UBS.

A spokeswoman for Baird was not immediately available for comment on the departures.

Stifel has been on a recruiting push, picking up wirehouse and regional teams. Among the St. Louis-based firm's most recent hires is a former Wells Fargo team that managed $350 million in client assets. Advisers Kent Ray, Jeff Siefert, and Greg Seiler joined Stifel in Portage, Michigan, the company says.