Stifel hired a team from Morgan Stanley that oversaw more than $200 million in client assets, according to a person familiar with the move.
The team will open a new office for Stifel in Sioux Falls, S.D., according to the person. They report to John F. Lee, managing director.
The team includes advisors Jennifer Sherman, Greg Risse, Mary Steiner and Troy Rames.
Sherman will serve as branch manager for the new office. Sherman joined Smith Barney in 2000, according to FINRA BrokerCheck records. She stayed through that firm's merger with Morgan Stanley.
Risse started his career in 1992 at A.G. Edwards, and moved to Smith Barney in 2000. A year later, Steiner moved to the wirehouse from American Express Advisors, the predecessor firm to Ameriprise. Rames had been with Morgan since 2012, according to BrokerCheck records.
A spokeswoman for Morgan Stanley could not be reached for comment.
Stifel last announced new hires earlier this month, when the St. Louis-based firm said it picked up an advisor from Credit Suisse who managed $210 million in client assets. Timothy Darragh, a 27-year industry veteran according to BrokerCheck records, joined Stifel in Chicago.