In Face of Stiffel Deal, Top Group Leaves Barclays to Start New Firm

Posted on August 12th, 2015 at 9:25 AM
In Face of Stiffel Deal, Top Group Leaves Barclays to Start New Firm

From the Desk of Jim Eccleston at Eccleston Law LLC: 

In what looks to be a growing trend for London-based Barclays, a group with $3 billion in assets under management has decided to leave the firm rather than joining Stiffel. The group’s defection appears to be just one of many after Barclays announced that it will be selling its U.S. wealth management operations to the brokerage and investment banking firm.

The team’s six advisors—Jack Petersen, James Cantelupe, Peter Lee, Tom Palecek, David Romhilt and John Scarborough—left Barclay’s to open Summit Trail Advisors, an independent advisory firm.  Peterson, the new firm’s managing director, stated that being a part of an independent firm will allow the advisors to provide better research, investment solutions, and reporting technology to their clients.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Barclays, Eccleston Law, James Eccleston, Jack Petersen, Stiffel

Return to Archive



If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.


January 18, 2022
New York Advisor Receives 17-Year Prison Sentence Over Ponzi Scheme

A New York-based advisor, Perry Santillo, received a 17-year prison sentence for his role in operating a Ponzi scheme that generated at least $115 million from more than 1,000 investors.

January 17, 2022
J.P. Morgan Seeks TRO Over Departing Advisor

J.P. Morgan Chase’s brokerage business has requested that a Louisville, Kentucky, federal court issue a temporary restraining order (TRO) barring one of its former advisors from soliciting its clients.

January 14, 2022
Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme

A former Northeast Ohio-based advisor, Tara Brunst, has pleaded guilty to her role in a $9.3 million Ponzi scheme.