In an unexpected twist, two advisors have chosen to remain at Stifel Financial after initially announcing their departure to independent broker-dealer Sanctuary Wealth in Indianapolis.

L. Gene Tanner, boasting 57 years of industry experience, and Suzanne M. Marshall, with 39 years in the industry, have returned to Stifel, as confirmed by a spokesperson for the St. Louis-based company. According to AdvisorHub, the duo accounted for approximately $430 million of the team's $1 billion in client assets. However, a Sanctuary source noted that around $900 million of the original total was still slated for transition.

The team's initial move to Sanctuary appeared to align with a succession plan for Tanner, who, at 91, was reportedly considering such arrangements, according to a source familiar with the situation. The newly formed group at Sanctuary, dubbed M&K Legacy Wealth, was to be led by Chad Keller and John Cody "J." Miller.

In response to Tanner and Marshall's decision, Miller expressed understanding and respect, acknowledging Tanner's pivotal role in his career development.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.