Stifel, UBS lose advisers to Wells Fargo's independent unit

Brokers in Missouri and Tennessee decide to take indie route

Jun 1, 2017 @ 12:10 pm

By InvestmentNews

Two registered representatives each managing more than $100 million in client assets have left their firms and affiliated with Wells Fargo Advisors Financial Network, the bank's independent contractor unit.

(More: Wells Fargo's move to boost signing bonuses could give it a lift)

Robert Stansberry has left Stifel Financial in Columbia, Mo., where he managed more than $125 million in client assets, to start an independent firm affiliated with FiNet. Mr. Stansberry began his career at Edward Jones in 1980 and stayed with the firm, with the exception of a one-year stint at A.G. Edwards, until 1993, when he joined Merrill Lynch. He rejoined A.G. Edwards in 2001, then moved to Wachovia Securities in 2008. Later that year, he joined Stifel Nicolaus.

(More: As Merrill Lynch and Morgan Stanley cut back, what's next for recruiting deals?)

Separately, John Miller has left UBS in Knoxville, Tenn., where he managed $119 million in client assets, to join Riley Private Wealth Management, a firm headed by Brad Riley and affiliated with FiNet. Mr. Miller began his securities career at Lehman Brothers in 1992, moved to Citigroup in 1993 and joined UBS in 2004.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Why some retirement plan advisers think Fidelity is invading their turf

InvestmentNews editor Frederick P. Gabriel Jr. and reporter Greg Iacurci talk about this week's cover story that looks at whether Fidelity Investments is stepping on the toes of retirement plan advisers.

Latest news & opinion

Cetera reportedly exploring $1.5 billion sale

The company confirmed it's talking to investment bankers to 'explore how to best optimize [its] capital structure at lower costs.'

SEC Chairman Jay Clayton outlines goals for a new fiduciary standard

Rule should provide clarity on role of adviser, enhanced investor protection and regulatory coordination.

Advisers bemoan LPL's technology platform change

Those in a private LinkedIn chat room were sounding off about fears the independent broker-dealer will require a move to ClientWorks before it is fully ready.

Maryland jumps into fiduciary fray with legislation requiring brokers to act in best interests of clients

Legislation requires brokers to act in the best interests of clients.

8 apps advisers love for getting stuff done

Smartphone apps that advisers are using in 2018 to run their business more efficiently.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print