Stifel Independent Advisors Adds More Than $2.53 Billion in 2022 in Total Client Assets With Recruitment of 11 Practices

Stifel Financial Corp. (NYSE: SF) reported the successful recruitment of 23 financial advisors in 2022, amassing over $2.53 billion in client assets, raising total assets under management to over $6 billion.

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Stifel Financial Corp. (NYSE: SF) reported the successful recruitment of 23 financial advisors in 2022, amassing over $2.53 billion in client assets, raising total assets under management to over $6 billion. The firm's independent contractor broker-dealer, Stifel Independent Advisors, is focused on enhancing diversity within its advisor network. CEO Alex David highlighted the firm's commitment to inclusivity, noting that over 40% of client assets are managed by women and underrepresented minority groups. This recruitment surge underscores Stifel's appeal as a preferred choice for elite wealth management teams.

Positive

• Recruitment of 23 financial advisors adds over $2.53 billion in client assets.
• Total assets under management exceed $6 billion.
• Over 40% of client assets are managed by practices led by women and underrepresented minorities.

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• None.

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Top Producers Representing Gender, Racial, Geographic, and Cultural Diversity Drive Growth of Independent Channel

ST. LOUIS, Feb. 13, 2023 /PRNewswire/ -- Stifel Financial Corp. (NYSE: SF) today announced that its independent contractor broker-dealer subsidiary, Stifel Independent Advisors, LLC, recruited 23 financial advisors with more than $2.53 billion in client assets in 2022, driving total assets under management (AUM) to more than $6 billion. The newest members of the independent channel are high-end advisors offering wealth management and investment planning services to their clients.

Alex David, President and CEO of Stifel Independent Advisors, said, "Last year Stifel maintained its growing reputation as the firm of choice for elite independent wealth management teams. It's my pleasure to again welcome these accomplished professionals to our network of high-end advisors, who not only focus on delivering exceptional results to their clients but share our vision of building a multi-dimensional and diverse firm that uplifts everyone across all backgrounds. Inclusivity is our strength, and we will build on our advantage in 2023."

Advisors who joined the firm in 2022 cited access to the firm's senior leadership and the bespoke service experience available at Stifel as top reasons for choosing the firm over competitors. Stifel's commitment to diversity, equity, and inclusion, and the company's ability to put words into action through the recruitment of underrepresented minority advisors have built bridges across advisor communities.

Cedric Edwards, who joined the firm in March, said, "Stifel is a company where African American advisors like me can thrive as I continue to offer best-in-class services to my clients. As we celebrate Black History Month in February, Mr. David's leadership in the area of diversity, equity, and inclusion is clearly making a difference at the firm."

According to 2023 statistics from the Certified Financial Planner Board of Standards, Inc., only 4.8% of certified financial planner™ professionals are Black or Hispanic. Women comprise 23.6% of all CFP^® professionals. The industry has made gains, but more work needs to be done, wealth management leaders have said.

Kenneth Sanchez, Managing Director at KWM Wealth Advisory, said, "I joined Stifel because of the people, culture, and vast array of resources that will enable our practice to reach the next stage of growth. Our team looks forward to reaching new milestones with a firm that represents values that we can align with, including in the area of diversity, equity, and inclusion."

Mr. David concluded, "In 2022, more than 40% of all client assets under the Stifel Independent Advisors umbrella were in the hands of practices headed by women and underrepresented minority groups. Our exceptional track record of recruiting outstanding advisors from all backgrounds is being noticed across the industry. My deepest gratitude extends to these professionals: Without their partnership, none of this would have been possible."

Stifel Company Information

Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Stifel Independent Advisors, LLC; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company's broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company's website at www.stifel.com.

For further information,
contact Brian Spellecy
(314) 342-2000

View original content:https://www.prnewswire.com/news-releases/stifel-independent-advisors-adds-more-than-2-53-billion-in-2022-in-total-client-assets-with-recruitment-of-11-practices-301744556.html

SOURCE Stifel Independent Advisors