Stifel Financial

Morgan Stanley alone lost 11 teams managing about $7 billion after its abrupt exit from the protocol pact, according to recent hiring announcements.

The firm has cast a wide recruitment net, luring practices large and small.

The award marks the largest of its kind this year.

The wirehouses have lost teams overseeing more than $12 billion in client assets over the past month, according to recent hiring announcements.

Four of the departures happened in New York following the firm's abrupt departure from the Broker Protocol.

Ziegler is the latest in a line of purchases by Stifel and other regional broker-dealers.

The company has been benefited from aggressive recruiting, with its advisor headcount hitting a record 7,346.

Ron Kruszewski's comments came after Morgan Stanley abruptly exited the accord, potentially leading to more costly litigation.

The new hires are all industry veterans, two of whom have more than three decades of experience each.

Independent and regional firms have been maintaining strong appeal with new recruits.