(Bloomberg) -- Stifel Financial, the Missouri-based investment bank known for snapping up regional rivals and Wall Street castoffs, agreed to buy Barclays's U.S. wealth management business.
Barclays had about 180 financial advisors in the U.S. managing $56 billion in total client assets as of May 31, St. Louis-based Stifel said Monday in a statement that didn't include terms. Barclays had bought the unit with other Lehman Brothers operations in 2008 and was faulted by regulators last year for inadequate internal controls there.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access