According to the Federal Deposit Insurance Corporation (FDIC), Stifel was one of the 20 firms that participated in the bidding process for Silicon Valley Bank (SVB) assets. However, Stifel was unsuccessful in acquiring the assets.
Other bidders include large, registered investment advisory (RIAs) firms, such as Overland Park, Kansas-based Creative Planning, and Lido Advisors. Additionally, private equity firm Reverence Capital, which owns independent broker-dealer Advisor Group, also submitted a bid for SVB assets. According to AdvisorHub, 10 of the 20 bids were specifically for SVB Private, the bank's wealth unit.
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