Wells Fargo Advisors

This is the second time Jefferies has poached Miami-based adviser talent from the wirehouse.

The former rep refused to comply with a FINRA investigation into allegations that he exercised influence over an elderly woman.

The firm's headcount has steadily declined since the bogus account scandal came to light last year.

"With 15,000 financial advisors, it's hard to change financial planning software. It's hard to change the day-to-day stuff," adviser Jim Denholm III says.

The latest hires join the regional firm from Wells Fargo and RBC.

They play a critical role in recruiting and supporting advisers. See who made the cut for this year's honoree list.

Demographics and competitive forces are destined to weaken the determination to avoid expensive recruiting packages.

The regional firm has been trying to recruit more advisers, particularly those from wirehouses.

The new recruits, who previously worked at Wells Fargo Advisors and Janney Montgomery Scott, also pointed to the firm's affiliation with Raymond James in making the move.

The cases stem from the investment advice given by a now barred broker, who is accused of soliciting funds for a Miami Beach nightclub he owned.