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

Brokers in Missouri and Tennessee decide to take indie route.
JUN 01, 2017

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.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.