Will Stifel rule the world?

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Apr 19, 2009 9:59 am

Seems like they've made all the right moves. The stock is probably a buy as they either get bought out (seems unlikely) or dominate retail brokerage.

Apr 19, 2009 11:26 am

They very well could swoop in the pick up a lot of market share, it really seems like a solid firm.

 
My question, is that is this all happening to fast for them?
 
I am going to be part (I think) of SF soon due to the UBS purchase and I know that myself and others in my office have a lot of questions for them about a range of things and the only answers we get are ..."We are aware of it ....and we are working on it..."
 
It has been nearly a month now and since they have done these types of deals in the past, I cannot imagine why these questions are so difficult.
 
That does not give me a warm fuzzy feeling.
Apr 19, 2009 11:42 am

It's bazzillion times better than UBS.

Apr 19, 2009 1:03 pm

offices bought out got off UBS titanic

Apr 19, 2009 3:05 pm

Yes I understand that my office "lucked" out in all of this in getting off the UBS ship and all of the vets in my office are thrilled to be getting out and getting a nice check from SF.

 
I am not of the same excitement as things for someone in my situation are not that clear right now, a big part of my whole "pitch" is gone, a big deal for me is gone b/c of the sale and since I followed the rules of the UBS NFA program and focused on assets more than production at this point, my retention check is pretty much 0.
 
I just want info on what they plan to do with me....good or bad.
Apr 19, 2009 3:29 pm
Will Stifel rule the world?


Just can't believe nestegg isn't in here yet proclaiming the greatness that is Stifel.  He's been born again and he won't get off our front porch preaching the gospel of SF. 
Apr 19, 2009 4:32 pm

CPPR:


I think based on everything I've heard no matter what Stifel does you'll  be better off there than where as a new NFA you would be at UBS. Good Luck! What pitch are you referring to?


Apr 19, 2009 5:41 pm
Gordon Gekko:

Seems like they've made all the right moves. The stock is probably a buy as they either get bought out (seems unlikely) or dominate retail brokerage.




Dominate retail brokerage??? Pull up a comparison of the # FAs and/or AUM (or per FA averages of AUM and production) and I think anyone would say that is a ridiculous statement. If you're going for the regional type firm that will look great in comparison to the remaining power wirehouse (MSSB), I think Jones is a better example due to their relative size.

Apr 19, 2009 6:54 pm
FawnLiebowitz:
Will Stifel rule the world?

Just can't believe nestegg isn't in here yet proclaiming the greatness that is Stifel.  He's been born again and he won't get off our front porch preaching the gospel of SF. 



You rang!

Apr 19, 2009 7:03 pm

Sorry, it is beginning to be Wachovia rewind at Stifel. Promised a call back and haven't heard back from them in over 3 weeks. i am not impressive at all with their follow through. Sorry nestegg, I belive they are overloaded and don't have the capacity to handle the amount of bandwidth they need.   

Apr 19, 2009 7:28 pm
Heel:

Sorry, it is beginning to be Wachovia rewind at Stifel. Promised a call back and haven't heard back from them in over 3 weeks. i am not impressive at all with their follow through. Sorry nestegg, I belive they are overloaded and don't have the capacity to handle the amount of bandwidth they need.   



You mean a recruiting call back? Wachovia all over again...I don't think you can say that about a firm of 1300 advisors...I see us gettign to the size of the old AGE over time...and AGE was a great place to work even with 6k+ advisors. I am sure growth will slow in the coming years, but it makes sense to grow when you can.

One reason I moved when I did, I figured the amount of advisors wanting to move would be increasing, and I didnt wan't to be left standing when the music stopped. At this point the # of people wanting to come to SF far outweigh's the number of slots available...I know at least in our office we are getting much more selective...we have space...but a 300k producer probably wont get one of them right now. 6 months ago the 300k guy would have come right in..but with so many fish SF is getting a bit more selective I guess...kind of like the hottest girl in school...she had her pick of which guy to take to the prom.

Who were you speaking with a local BM or someone in HQ?

Apr 19, 2009 7:57 pm
unsure:

CPPR:


I think based on everything I've heard no matter what Stifel does you'll  be better off there than where as a new NFA you would be at UBS. Good Luck! What pitch are you referring to?


 
I should not have said "pitch" but rather a large part of my pitch....The world's largest wealth manager, competition is merged or out of business,etc.....blah blah.
 
It was my mistake that I even used that in my pitch as much as I did but I do keep a lot of the focus on me and my background (public accounting) and investment review/planning process.
 
It just stinks that my story is going to change in the middle of the game....but such is life.
 
I know it will work out in the end but I just would like some information from SF on their plans so if I need to make a move I can be ready before it is to late.
Apr 19, 2009 9:00 pm

CPPR,


I am in one of the affected UBS offices.  I have called all kinds of SF folks and they get right back to me.  The only stuff they don't have is commoditities and foreign currency trading, a miniscule part of my business.  I can't say I am up for the kool-aid yet but I haven't found anything to make me suspect of their capabilities.  The wirse are going to spend the next couple of years "focusing their efforts" what ever that means.  It will not mean enhancing payout nor improving the platform nor making it simpler to be a non-proprietary practitioner (ala CFP).  I see more prescriptive on the horizon.  Stifel is going to grow with their ability to be not constrained by government penalties.  We will be on with a firm with its sails trimmed for the journey rather than bailing water and taking cannon fire.
Apr 19, 2009 9:15 pm
Polycarp:

CPPR,


I am in one of the affected UBS offices.  I have called all kinds of SF folks and they get right back to me.  The only stuff they don't have is commoditities and foreign currency trading, a miniscule part of my business.  I can't say I am up for the kool-aid yet but I haven't found anything to make me suspect of their capabilities.  The wirse are going to spend the next couple of years "focusing their efforts" what ever that means.  It will not mean enhancing payout nor improving the platform nor making it simpler to be a non-proprietary practitioner (ala CFP).  I see more prescriptive on the horizon.  Stifel is going to grow with their ability to be not constrained by government penalties.  We will be on with a firm with its sails trimmed for the journey rather than bailing water and taking cannon fire.
 
I should have rephrased that post I made. SF has been getting back to the people in my office and myself with the answers to many of the questions we have. They have not answered the one that pertains to me and I understand that since it is something that as a firm, SF does not have any really comparable. We have gotten, a few times, "we are aware of it and we are working on it,etc". These are very specific situations that I know are rare. I do, selfishly, want to find out specifically what they are doing with the NFA program.
 
SF is very much on top of the conversion process especially since they have done it before with past mergers. This is not their first time at the rodeo and it shows, they are a smart group who knows the business and knows getting through a merger.  
 
 
 
Apr 20, 2009 7:42 am
Cowboy93:
Gordon Gekko:

Seems like they've made all the right moves. The stock is probably a buy as they either get bought out (seems unlikely) or dominate retail brokerage.



Dominate retail brokerage??? Pull up a comparison of the # FAs and/or AUM (or per FA averages of AUM and production) and I think anyone would say that is a ridiculous statement. If you're going for the regional type firm that will look great in comparison to the remaining power wirehouse (MSSB), I think Jones is a better example due to their relative size.

 
Cowboy93:
   You make a reference to MSSB as the remaining wirehouse powerhouse. Would you please elaborate?
 
Thank you.
 
 
Apr 20, 2009 7:44 am

Sf getting bought out - this used to be the rumor but who would/could do such a thing? The wirehouses have the TARP to pay back (minus UBS who has their own issues).