Office address: 501 N Broadway #8, St. Louis, MO 63102
Website: www.stifel.com
Year established: 1890
Company type: investment banking firm
Employees: 9,000+
Expertise: asset management, financial services, investment banking, investment management, wealth management, capital markets, brokerage services, equity research, fixed income trading, mergers and acquisitions (M&As), private equity, retirement planning, trust services
Parent company: N/A
Key people: Ronald Kruszewski (CEO), James Marischen (CFO), David Sliney (COO), Victor Nesi and James Zemlyak (co-presidents), Mark Fisher (SVP)
Financing status: N/A
Stifel is an investment banking and wealth management firm that provides services to individuals, corporations, and various institutions globally through several subsidiaries. With $468 billion in assets under management as of March 2024, the company operates globally and has over 400 locations across the US. They have over 9,000 professionals, offering services like M&A advisory and capital raising through its subsidiaries, including their principal, Stifel, Nicolaus & Company, Incorporated.
Stifel was founded in 1890 by Henry Stifel in St. Louis, Missouri, as a small investment banking and brokerage firm. Over time, it earned a reputation for reliable investment advice, successfully navigating challenges like the Great Depression. In the 1980s, the company began acquiring regional firms and reaching locations outside the US, significantly expanding its services and geographic reach.
Stifel Financial Corp. was established as a holding company in 1983, overseeing its key subsidiary, Stifel, Nicolaus & Company. During the 1990s and 2000s, the firm’s growth accelerated through acquisitions like Legg Mason’s capital markets division and UK-based Oriel Securities. Their 2013 acquisition of Keefe, Bruyette & Woods strengthened its financial services standing, and by 2024, the firm achieved a major milestone in client assets.
Stifel offers a wide range of financial services tailored to individuals, businesses, and institutions. Below are the key offerings:
Other offerings include insurance, private client services, retirement plan solutions. Stifel focuses on understanding client goals, striving to be the preferred advisor for clients, and the top choice for advisors and shareholders alike.
Stifel prides itself on an entrepreneurial culture, encouraging staff to use company resources freely to achieve client success. The firm values creativity and innovation, welcoming new ideas to adapt to changing market conditions. The company prioritizes employee well-being by providing a supportive work environment that fosters career growth, along with benefits such as:
Stifel’s 2023 Corporate Sustainability Report highlights its long-term commitment to ethical business practices and responsible corporate governance. The firm invests in its people, communities, and environmental sustainability, recognizing these efforts as both beneficial for business and essential for doing what’s right. They commit to doing community investments, employee development, and environmental stewardship, as demonstrated by its key sustainability initiatives and achievements:
The company emphasizes the importance of diversity and inclusion in meeting the needs of the communities it serves. The firm is committed to building an inclusive workplace where associates can thrive, ensuring all team members are valued and treated fairly. Key DEI initiatives include:
Stifel actively supports community development through its commitment to the Community Reinvestment Act (CRA), providing funding to underserved clients and promoting financial equity. In 2023, the firm underwrote nearly $3 billion in CRA-eligible bonds to aid low- and moderate-income communities. They partner with impact organizations, encourage volunteerism, and boost corporate giving through initiatives like its matching gift program.
Ronald Kruszewski serves as the organization’s CEO and chair and is also the Securities Industry and Financial Markets Association board’s vice chair. Previously, he chaired the American Securities Association and served on the Federal Reserve Bank of St. Louis' Federal Advisory Council. He has a BA in accounting and finance from Indiana University Bloomington.
The key people at the company are instrumental in driving the firm's strategy and success. These include:
Stifel is strengthening its wealth management division by appointing industry veteran Jeff Markham as managing director. Markham has extensive experience in leadership and wealth management, which positions him to drive the growth strategy of Stifel, Nicolaus & Co Inc. This strategic hire reflects the company’s commitment to attracting top talent and enhancing its competitive edge in the wealth management sector.
They recently reported strong Q2 2024 results, surpassing forecasts with $1.2 billion in revenue, driven by growth in asset management and advisory services. The firm continues to develop its advisor base, adding 42 new advisors, including 13 seasoned professionals, showing signs of its well-established operations. Stifel's focus on maintaining a strong balance sheet and diversified revenue streams positions it for continued success.
The veteran who built Merrill Lynch's retail business from the ground up will bring that experience to support growth across Stifel's advisory, asset management, and investment banking businesses.
Not too long ago, wealth managers would spend much of their summers entertaining clients outside the office. COVID and Zoom changed all that.
Plaintiff's lawyers are eying both broker-dealers for potential client complaints.
The president signed an executive order late Thursday which he says will broaden choice.
More financial advisors are seeking to expand outside America's financial hubs as technology improves and populations shift.
Meanwhile, Raymond James bolstered its employee advisor arm with an industry veteran who previously oversaw $750 million at Stifel.
Osaic's expanded partnership with the Arizona-based firm advances its broader strategy to offer succession-focused planning solutions to retiring advisors.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Latest survey shows digital tactics and empowerment top of mind for early-career advisors to be satisfied with their firms.
Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.
Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.
Wealth managers weigh in on their bond strategies as Fed Chairman Powell appears to be holding on rate cuts this summer.
Bond issuance has ramped up by more than 35% year-on-year as declining birth rates push school districts to "keep up with the Joneses."
The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.
LPL welcomes a Beverly Hills-based practice from Wedbush Securities as RayJay adds a Stifel alum to its employee advisor arm.
