Stifel adds wirehouse teams managing $1.1 billion in assets

Wirehouse reps in California and Iowa who collectively managed $1.1 billion in assets have joined Stifel Nicolaus. Advisers Gary Allen, Peggy Allen, Tony Ondracek, Robert Babcock, and Greg Munro have joined Stifel's Murrieta, Calif., office from Merrill Lynch, where they were responsible for $596 million in client assets. (More:​ See more adviser moves in InvestmentNews' Adviser on the Move database.) Opening an office for Stifel in Clive, Iowa, are Miles Luchtenburg and Kyle Owens, who were responsible for managing $220 million and $120 million in assets, respectively, while at Raymond James. In Newport Beach, Calif., Ray Martin and Craig Bentley have joined from Wells Fargo Advisors, where they managed $107 million and $71 million in assets, respectively.