Stifel Reports Record Revenue, CEO Mulls Broader Recruiting Push

Core Insights - Stifel reported record annual revenue of $5.3 billion for 2025, despite a 6.9% decline in net income to $646.5 million [5] - The firm added 181 advisors in 2025, doubling the number from 2024, with these advisors contributing $86 million in trailing 12-month revenue [2] - CEO Ron Kruszweski indicated plans to allocate more resources to recruiting efforts in 2026 to capture additional market share [4][3] Financial Performance - Stifel's fourth-quarter revenue reached $1.56 billion, with net income of $255 million, both exceeding analyst expectations [5] - The firm reported record client assets of $552 billion and fee-based client assets of $224.5 billion [5] - A full-year revenue forecast for 2026 is projected between $6 billion and $6.35 billion, with net interest income expected to be between $1.1 billion and $1.2 billion [7] Market Outlook - Despite challenges from geopolitical risks and policy-driven volatility, Stifel's leadership remains optimistic about the upcoming year [6] - The CEO expressed confidence in the firm's potential to grow to $10 billion in revenue and $1 trillion in client assets, although no specific timeline was provided [7] - The decision to expand recruiting efforts is influenced by the diverse revenue mix that new advisors bring, including fee-based revenue and lending [8]