April 23, 2013 / 1:36 PM / 5 years ago

ON THE MOVE-Stifel lands Wells adviser team with $1 bln in assets

April 23 (Reuters) - Brokerage firm Stifel, Nicolaus & Co has bolstered its adviser force in Washington state and Oregon with a veteran team from Wells Fargo & Co’s independent adviser division.

The 11-member RMG Asset Management group, which oversees more than $1 billion in client assets at Wells, joined Stifel’s private client group in early April, Stifel said. The team had previously been affiliated with Wells Fargo Advisors Financial Network, Wells’ independent broker-dealer unit.

A Wells spokeswoman confirmed the departures but declined to comment further.

At Stifel, the team is known as the RMG Group. Nine of the advisers are based in Bellevue, Washington, a suburb of Seattle, while the other two are based in Portland, Oregon.

The new Bellevue office is run by former Wells adviser Mark McClure, who serves as branch manager. Also joining are advisers Andrew Campbell and Lance McIntosh, both senior vice presidents, as well as advisers Jennifer Rush, T. Kevin Tucker, Michael Harkins, Glen Ness, Richard O‘Donnell and Michael J.P. Tucker.

The Portland office includes advisers Joan Fisher and Jeffrey Wirth, who both joined as senior vice presidents.

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 added 152 advisers to its wealth management unit last year.

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