Stifel hires adviser from Wells Fargo in Florida

Fri Mar 15, 2013 11:45am EDT

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(Reuters) - Brokerage firm Stifel, Nicolaus & Co said on Friday it hired a veteran adviser from Wells Fargo & Co's U.S. brokerage division, bolstering the firm's adviser presence in Florida.

John Peterson moved to Stifel's Melbourne office last week. He has worked in the advising industry for more than 16 years, exclusively at Wells Fargo Advisors and its predecessor firms, where he managed more than $100 million in client assets.

Wells Fargo declined to comment on Peterson's departure.

Peterson joined Stifel's private client group as a senior vice president of investments. He was joined by his client service associate, Ellen Cunningham.

Peterson started his career at A.G. Edwards & Sons in 1996, joining Wells in 2008 after Wells bought Wachovia, which one year earlier had acquired A.G. Edwards. Many longtime A.G. Edwards advisers, like Peterson, stayed with the firm through those mergers.

Peterson is among the latest big recruits for Stifel, which also said on Tuesday that it had hired a veteran adviser from Morgan Stanley Wealth Management in Southern California.

Stifel, Nicolaus & Co is a subsidiary of St. Louis-based financial services holding company Stifel Financial Corp. During 2012, the firm hired 152 financial advisers in its wealth management unit.

(Reporting by Ashley Lau in New York; editing by John Wallace)

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