Regional BDs

The new hires came at the expense of Merrill Lynch and Wells Fargo.

The advisors opened Stifel's 17th new branch office this year.

Two of the new hires have more than 20 years of industry experience each.

Two dozen advisors left the wirehouse in recent months to join the regional BD.

More than 400 advisors joined regional BDs last year, according to hiring announcements and BrokerCheck data.

The departures include a team that managed $380 million.

“I can’t remember seeing so many $5 million to $10 million [advisors] in the pipeline,” CEO Paul Reilly said.

CEO Jim Cracchiolo says the firm is focused on “holistic advice rather than a free trade” after wealth management client assets reached a new high.

The latest move is part of the regional broker-dealer’s western expansion, including teams in Colorado, Arizona and Oregon.

The firm added its 16th office this year, part of its bid to attract talent from rival firms.