New York Securities Lawyer Blog
On June 8, 2015, Stifel Financial Corp. (“Stifel”) announced that it is set to acquire Barclays’s Wealth and Investment Management, Americas business (“Barclays Wealth Management”) through a definitive purchase agreement.
Barclays Wealth Management has approximately 180 financial advisors managing near $56 billion in client assets. Barclays Wealth Management’s business is centered in New York, but it also operates out of 11 other branch offices nationwide.
Stifel is a financial services holding company with its headquarters located in St. Louis, Missouri. In the United States, Stifel’s broker-dealer clients are currently served through Stifel, Nicolaus & Company, Inc., Keefe Bruyette & Woods, Inc., Miller Buckfire & Co., LLC, and Century Securities Associates, Inc.
Subject to regulatory approval, the deal is expected to close in November of 2015.
The attorneys at Lax & Neville LLP have represented hundreds of registered representatives in their transitions between firms, including many registered representatives from Barclays Wealth Management. When a broker-dealer, such as Barclays sells its wealth management business, that transaction may create many legal issues for its registered representatives and their clients. If you are a Barclays Wealth Management registered representative with questions regarding the implications of Stifel’s acquisition of Barclays Wealth Management and potentially transitioning to a new firm, call our offices today at (212) 696-1999.