ON THE MOVE-Stifel hires advisers from Baird, Janney

Tue Aug 27, 2013 9:32am EDT

Aug 27 (Reuters) - Brokerage firm Stifel, Nicolaus & Co has expanded its footprint in Ohio and Pennsylvania by hiring veteran advisers from Robert W. Baird & Co and Janney Montgomery Scott.

In Pennsylvania, advisers Mark Kaskey, W. Jason Beard and Robert Cellucci moved to Stifel from Philadelphia-based brokerage firm Janney Montgomery Scott. The team, known as the MJB Wealth Management Group, together managed $178 million in client assets.

They joined Stifel's private client group and are based in the firm's Conshohocken, Pennsylvania, office.

In Ohio, adviser Joshua Weiland joined Stifel's Dayton office from Milwaukee-based Robert W. Baird & Co. Weiland, who had been at Baird for nine years, managed $138 million in client assets.

Stifel, Nicolaus & Co is a subsidiary of St. Louis-based financial services holding company Stifel Financial Corp.

Stifel, which has benefited from the movement of veteran financial advisers away from larger national brokerage firms, said it had added 152 advisers to its wealth management unit last year.

Baird and Janney did not immediately respond to requests for comment on the departures.