Jan 29 Brokerage firm Stifel Nicolaus & Co said
on Tuesday it opened a new office in Stuart, Florida with the
addition of two veteran adviser teams from the brokerage units
of Wells Fargo & Co and Morgan Stanley.
Advisers Robert Sander and Christopher Lesser, who together
managed $195 million in client assets, joined Stifel from Wells
Fargo Advisors, the third-largest U.S. brokerage owned by Wells
Fargo & Co. A client asset base of that size typically
translates to about $2 million in annual revenue generation.
Both Sander, who has worked in the industry for about three
decades, and Lesser, were A.G. Edwards advisers who joined Wells
through a series of acquisitions.
Also on the move, advisers Thomas Bevan and Janet Bevan
joined Stifel from Morgan Stanley Wealth Management, the
brokerage majority owned by Morgan Stanley and partially owned
by Citigroup. The advisers managed $82 million in client
assets at the firm.
Stifel, Nicolaus & Co is a subsidiary of the St. Louis-based
financial services holding company Stifel Financial Corp.
Both Wells Fargo and Morgan Stanley declined to comment on