Equitable on Monday announced it was acquiring the advisory business of Stifel Financial Corp.
Stifel Independent Advisors has over 110 advisors who manage $9 billion in client assets. As part of the transaction, Stifel’s independent advisors will transition to Equitable Advisors, the broker-dealer and registered investor advisor (RIA) arm of Equitable. The transaction will not include Stifel Financial Corp.’s employee advisor channel.
“We are committed to growth in the wealth management space and take a disciplined approach to acquisitions, focusing on opportunities that deliver long-term value and align with our culture,” said Nick Lane, president of Equitable, in a statement. “Our acquisition of Stifel Independent Advisors does both, and this transaction complements our organic growth strategy to expand our Wealth Management business.”
Equitable, with over 8,000 employees and four million clients, says its wealth management unit is the fastest-growing segment for the firm. Equitable Advisors currently has 4,500 financial professionals and oversees more than $110 billion in assets under administration (AUA).
Stifel’s independent advisors will have access to resources and benefits from Equitable, including an open-architecture platform, technology, marketing tools and real estate, as well as support with succession planning, team formation and compliance.
Ronald J. Kruszewski, chairman and CEO of Stifel Financial Corp. expects the acquisition to increase the firm’s assets under management (AUM) from $500 billion to $1 trillion. “This transaction reinforces Stifel’s unwavering commitment to our core employee-channel advisory business, while ensuring that our independent advisors continue to thrive with an excellent partner that shares our values,” Kruszewski said in a statement.
The transaction is expected to close in the first quarter of 2026, subject to required regulatory approvals and other customary closing conditions.
Eversheds Sutherland (US) LLP is serving as Equitable’s legal counsel, and Bryan Cave Leighton Paisner LLP is serving as Stifel’s legal counsel.