The independent contractor broker-dealer subsidiary of Stifel Financial Corp. has added three advisor teams and a combined $673 million to its assets under management.
ARC Wealth Management from Salt Lake City, Utah ($352 million AUM), BT Legacy Wealth Management in St. Petersburg, Florida ($189 million AUM), and Client First Financial in Colts Neck, New Jersey ($132 million AUM) have joined Stifel Independent Advisors LLC.
The recruitment of the firms adds three new flagship offices to its independent channel and takes its total AUM to $6.5 billion.
Alex David, president and CEO of Stifel Independent Advisors, says that it’s an exciting time in the wealth management industry, especially for independent advisors looking to partner with a firm with the resources of a globally recognized investment bank.
“As members of a network of advisors located across the United States, our newest teams will soon find they'll be setting themselves apart with exceptional support that begins with comprehensive guidance,” he said. “I'm delighted to welcome these outstanding professionals as we remain firmly committed to providing them with the support and resources for maximum success."
Advisors across Stifel recently ranked the firm the No. 1 Wealth Management Firm for Employee Advisor Satisfaction according to the J.D. Power 2023 U.S. Financial Advisor Satisfaction Study.
The new firms joining Stifel have vast combined experience.
ARC Wealth Management’s three advisors are 27-year investment industry veteran Richard Romano, CRPS, managing partner and senior financial advisor; Brian Collard, CFP, CRPS, partner and financial advisor; and Amanda Arcilesi Simmons, CFP, partner and financial advisor.
BT Legacy Wealth Management’s team is led by Jamie Tomlin, CFP, owner and managing director.
Client First Financial includes two financial advisors: John Lupi, managing director of investments, and Regina Singer.
"The teams joining Stifel Independent Advisors are geographically diverse, but from coast to coast they share the same focus on putting clients first, meeting and exceeding clients' needs, and providing superior service that strengthens the Stifel brand,” added David. “ I am deeply thankful to be in partnership with these industry-leading practitioners and look forward to elevating their mission with exceptional service that helps grow their business."
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
