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

TESTIMONIALS

Previous
Next

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

March 21, 2025
SEC Updates Marketing Rule Guidance to Clarify Extracted Performance and Portfolio Metrics

The Securities and Exchange Commission (SEC) has issued updated guidance on its marketing rule, addressing industry concerns regarding net performance requirements, extracted performance, and portfolio characteristics.

March 20, 2025
Stifel Loses Raiding Case, Ordered to Pay Over $7 Million in Legal Fees

Stifel Financial has lost its raiding and breach-of-contract claim against a group of advisors who left its Indianapolis office to establish their own firm.

March 19, 2025
FINRA Enforcement Actions in 2024: Fines Drop But Cases Increase

The Financial Industry Regulatory Authority (FINRA) imposed $59 million in fines in 2024, reflecting a 35 percent decrease from the previous year, according to an analysis by Eversheds Sutherland.