Regional BDs

By signing a deal with iCapital Network, the regional brokerage aims to provide clients "a more comprehensive set of solutions."

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.

New recruits hailed from firms including Wells Fargo, Merrill Lynch and Raymond James.

The “get” marks one of the largest hires the year for the regional BD.

The advisors joined the regional BD from UBS.

Bill Mahler had been chairman of the firm’s equity capital markets and equity asset management units. He was also on the executive committee.

The employee and independent BD collected excess UIT commissions and failed to properly review inactive accounts, the regulator says.

The new recruits include a father-and-son duo in Orlando.

So far this year, Janney has onboarded 36 financial advisors. The newest team managed more than $290 million in client assets.

The wirehouse has experienced attrition while the regional BD has been on a hiring streak.

The firm’s new additions include three brokers previously affiliated with Wells Fargo Advisors.