Stifel, HighTower Pick Up Wirehouse Brokers in Georgia and Connecticut
Stifel Financial and HighTower recruited veterans from Morgan Stanley and Merrill Lynch respectively this week, according to separate announcements from the firms on Tuesday.
Marcus Wheeler, who had been a producing manager of Morgan Stanley’s 28-broker branch in Charleston, W. Va. since 2011, joined Stifel to oversee and expand its Atlanta branch. St. Louis-based Stifel opened the office, which currently has 18 brokers, in June 2014.
In his 20-year career at Morgan Stanley, Wheeler has served as a manager and broker throughout the Southeastern U.S., including in Atlanta.
“It was an opportunity to come back personally and professionally,” Wheeler said of his decision to move his family back to Atlanta.
A spokeswoman for Morgan Stanley confirmed Wheeler’s departure but declined further comment.
Richard McGalliard, Wheeler’s predecessor at Stifel’s Atlanta branch, will remain with the office in a recruiting position, the St. Louis-based company said.
HighTower in Westport
HighTower, which provides brokerage and other services for independent brokers and advisors, hired the team of William L. Thrush and Meghan G. Rump from Merrill Lynch Wealth Management’s Greenwich, Conn., branch.
The pair, who HighTower said were managing $250 million of client assets and have set up in nearby Westport, Conn., specialize in “serving owners of private enterprises,” according to their Merrill website. They have worked together at the firm since January 2007, with Rump advancing from a client associate to a financial advisor in 2014, according to the website.
A Merrill spokeswoman declined to comment.
Thrush became a broker in 2011 with UBS Financial Services in Stamford, Conn., after earlier running a family commercial lithography business and then a startup e-business consultancy.
The team is the tenth to affiliate with HighTower this year, and its second in the affluent New York City suburb of Westport. The Chicago-based firm in May bought the assets of independent broker Retirement Design and Management Inc., which had about $700 million of assets under management and renamed itself RDM Financial Group. Ron Weiner, RDM’s founder who is jointly based in Westport and Boca Raton, Florida, did not return a call for comment.
Founded in 2007 by Elliot Weissbluth with funding from institutional funds and brokerage industry notable
s such as former Morgan Stanley Dean Witter CEO Phil Purcell and former Charles Schwab Corp CEO David Pottruck, HighTower now affiliates with 163 advisors and brokers in 54 offices, according to the company’s marketing materials.
(Last paragraph was modified on October 20 to include name of HighTower’s founder.)