Stifel is suing a newly-formed competitor firm, Sapient Capital, alleging that Sapient conducted an “orchestrated raid” of Stifel’s 96th Street office, convincing nearly all the employees to jump ship and attempting to bring their clients and their $10 billion in assets with them. Sapient characterizes the situation differently.
The sale ends a 92-year run of ownership by the Peterson family, which opened the business five years before the onset of the Great Depression and built a preeminent position in the municipal bond business that continues today.
Metal is hedge against printing money, weakening currencies.
The device is projected to save Prince Group office at Stifel Nicolaus & Co. more than $3,000 in paper alone.
Transactions cited in the complaint involved advisers scattered across the firm’s seven Indiana offices, though two-thirds
were clients of Jeff Cohen.
Newly public records suggest that securities investigators had far from an airtight insider-trading case against David Knall,
the star Indianapolis investment broker who nonetheless agreed to settle the 3-year-old inquiry by agreeing to a one-year
suspension. The Securities and Exchange Commission announced the pact Dec. 4. In addition to consenting to the suspension,
Knall, a managing partner of Stifel Nicolaus & Co., agreed to pay $123,865.