Advisers managing $200 million in client assets join Stifel

Advisers at an independent broker-dealer with $200 million in client assets has joined Stifel Financial Corp. Three financial advisers, Robert W. Anderson, Michael R. Anderson and Laurie Anderson, part of The Anderson Financial Group, will be based out of Stifel's Madison, Wis., office. The trio had been partners with four others at Buttonwood Partners Inc., in business since 1990. (More: See all the latest moves in the InvestmentNews Advisers on the Move database) “Stifel provides a broader range of capabilities for our clients than were unavailable at our previous firm,” said Bob Anderson in a statement. According to The Anderson Financial Group website, the firm specializes in mortgage brokerage covering the Midwest, as well as several southern states. “With increased regulatory scrutiny, we have seen a surge in St. Louis home office visits from independent advisers,” said John Pierce, director of recruitment at Stifel. “Many advisers who went independent were dazzled by the 'optics' of high payouts before deductions for expenses and fees. Independent advisers have learned that money in their pocket at the end of the month is what counts — not the perceived high payouts,” Mr. Pierce said. Prior to establishing Buttonwood Partners, Bob Anderson worked for five different firms, starting with Loewi & Co. in 1968. Michael Anderson began his career with Buttonwood Partners in 1992, according to his BrokerCheck profile. Laurie Anderson began her adviser career at Buttonwood Partners in 2004, according to her BrokerCheck profile.