Stifel Financial Corp’s independent contractor broker-dealer subsidiary - Stifel Independent Advisors - has welcomed a $335 million advisor practice, it’s second so far this year.
Columbia Crest Financial Advisors was previously affiliated with Wells Fargo Advisors Financial Network and is led by Richard Reith and Laura Nelson. The team operates mostly from Chehalis, Washington, and also includes financial advisors Silas Newkirk and Trina Whitten and four branch support associates. Whitten is based in a Roseberg, Oregon satellite office.
Reith and Nelson have both been in the investment industry since 2007.
“The team at Columbia Crest Financial Advisors is incredibly excited to work with Stifel Independent Advisors,” said Mr. Reith and Ms. Nelson. “Stifel’s approach to client service and their focus on collaboration creates a high-level experience for everyone. This makes them the perfect fit for our business, our team, and most importantly, our clients.”
The new Stifel Independent Advisors affiliates follow Stofan Agazzi Investments in Joliet, Illinois, which joined the firm in January.
“Richard and Laura have built an outstanding team at Columbia Crest Financial Advisors, and we’re excited to welcome them to Stifel Independent Advisors,” said Tim Boostrom, Head of Business Development for Stifel Independent Advisors. “They believe in our core mission of profoundly impacting lives and have shown it by relentlessly caring about their clients and communities in the Pacific Northwest for many years.”
Stifel Financial Corp. recently reported its fourth quarter and year-end results showing a slight decrease on overall net revenues for the year ended December 31, 2023 - $4.35 billion for the year ended December 31, 2023, compared to $4.39 billion in the previous year – but an improvement in the fourth quarter compared to the same period of 2022 ($1.15 billion vs. $1.12 billion).
The firm’s global wealth management business reported record net revenues of $3.0 billion for the year ended December 31, 2023, compared with $2.8 billion in 2022. It recruited 171 financial advisors during the year, including 76 experienced employee advisors and 9 experienced independent advisors with total trailing 12 month production of $69 million.
Osman Nawaz, an agency veteran who rejoined last month, takes over as principal deputy director.
Berkshire Global Advisors reports reveals scaled buyers and steady tuck-ins push 2026 dealmaking to new highs.
Advisors face a psychological gap: clients are financially ready to retire but not ready to spend.
New FINRA-RAND research finds financial literacy, not age or income alone, drives fraud recognition.
Commonwealth Financial joins a number of firm that have recently cut jobs.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
