Jan 7 Benjamin F. Edwards & Co, a boutique
brokerage with family ties to the old A.G. Edwards & Sons, has
opened an office in the greater Chicago area with three veteran
advisers who joined the firm from Wells Fargo & Co.
Adviser Dennis Anderson, who had been a senior vice
president at Wells Fargo Advisors, joined Benjamin Edwards on
Friday as branch manager of the new office in Woodstock.
"This isn't something we do very often," Anderson said in an
interview on Monday, noting that this was the first time in his
two-decade advising career that he has switched firms.
Anderson said his close ties with the firm's founder and
chief executive, Benjamin "Tad" Edwards, who had been his
regional manager earlier in his career, contributed to his
decision to move. Another reason was the similar culture that he
said existed at the firm, which reminded him of his A.G. Edwards
Anderson, who started his career at A.G. Edwards in 1992,
joined Wells in 2008 after the company acquired Wachovia, which
one year earlier had bought A.G. Edwards.
"Both firms have always believed that the client is the
reason we're all here," said Anderson, referring to the A.G.
Edwards and the new Benjamin Edwards.
"The transition has been an enormous amount of work, but one
of the most positive things that I can remember in some time,"
Adviser James Wormley and his son, Ryan Wormley, also joined
Benjamin Edwards' Woodstock office, where Anderson is branch
manager. The two advisers, who joined the firm as senior vice
presidents, were also legacy A.G. Edwards advisers.
Since its founding in 2008, St. Louis-based Benjamin Edwards
has expanded its adviser base by hiring dozens of legacy A.G.
Edwards advisers from Wells.
Anderson was joined by assistant branch manager Jenny
Murray, while the Wormley team was joined by senior registered
financial associate Sandy Shay and financial associate Matt
Wells Fargo declined to comment on the departures.