Stifel sweeps up advisors managing $230M

Stifel picked up three advisors managing more than $230 million in combined client assets, according to the firm.

It's the latest hiring announcement from a regional broker-dealer. The industry's small and mid-size brokerages have been adding a number of new hires this year in the wake of recruiting cutbacks at three of the four wirehouses.

Former Wells Fargo broker Amandus Frey joined Stifel in Wilmington, North Carolina. He previously managed more than $118 million, according to his new employer.

Frey, a 24-year industry veteran, had been with Wells Fargo since 1999, according to FINRA BrokerCheck records.

Also joining Stifel is David Hatcher. Based in Cookeville, Tennessee, Hatcher previously worked at independent broker-dealer FSC Securities. While there, he oversaw $62 million in client assets.

He had been with the independent BD since starting his advisory career in 2000, according to BrokerCheck.

Mark Cissel joined Stifel's office in Palm Beach, Florida. He oversaw more than $54 million in client assets while at his previous employer, Morgan Stanley. He had worked at the wirehouse and predecessor firm Smith Barney since 2002. Prior to that, he worked at Merrill Lynch.

Last month, Strifel said it hired a former Oppenheimer & Co. team that managed more than $342 million in client assets. Scott Kruse, Robert Schmidt Jr., and Jim Gaudette joined Stifel in Bellevue, Washington, where they operate as the Cascadia Group.