Stifel Financial
31 named things its latest annual report says its results depend on, each in the company's own words. 22 of them are also named by other companies we've read.
Suppliers
Public cloud service providers
depends onnamed as a riskOur reliance on public cloud services introduces cybersecurity risks, including potential data breaches, unauthorized access, and compromised application programming interfaces (APIs) which could impact the confidentiality, integrity, or availability of our systems and data.Risk factors (Item 1A)
Also named by NOW
Third-party securities processing vendor
depends onnamed as a riskLikewise, the business functions we support internally can be supported without the St. Louis headquarters through a combination of redundant computer facilities in other diverse data centers and from certain office locations which can connect to our third-party securities processing vendor through its primary or redundant facilities.Business (Item 1)
Partners and platforms
Clearing agents, exchanges and clearing houses
depends onnamed as a riskAs a result of regulatory changes and the consolidation over the years among clearing agents, exchanges, and clearing houses, our exposure to certain financial intermediaries has increased and could affect our ability to find adequate and cost-effective alternatives should the need arise.Risk factors (Item 1A)
Other companies
Credit Facility
depends on · $1.0 billionnamed as a riskA credit rating downgrade would also result in the Company incurring a higher facility fee on its $1.0 billion unsecured revolving credit facility agreement (the “Credit Facility”), in addition to triggering a higher interest rate applicable to any borrowings outstanding on the line as of and subsequent to such downgrade.Risk factors (Item 1A)
Also named by AM, AR, AROC, BSM, CGBD, CLS, CVLG, CWST and 5 more
B. Riley Financial, Inc.
approximately $4 billion in assets under managementOn April 7, 2025, the Company acquired a portion of B. Riley Financial, Inc.’s traditional wealth management business, a deal that added 36 advisors with approximately $4 billion in assets under management.Business (Item 1)
Multi-bank sweep program deposits
depends onnamed as a riskOur bank deposits are primarily driven by our multi-bank sweep program in which clients’ cash deposits in their brokerage accounts are swept into FDIC-insured interest-bearing accounts at our bank subsidiaries and various third-party banks.Risk factors (Item 1A)
Federal Home Loan Bank
depends onWe are exposed to interest rate risk as a result of maintaining inventories of interest rate-sensitive financial instruments and from changes in the interest rates on our interest-earning assets (including client loans, stock borrow activities, investments, inventories, and resale agreements) and our funding sources (including client cash balances, Federal Home Loan Bank advances, stock lending activities, bank borrowings, and repurchase agreements), which finance these assets.Market risk (Item 7A)
Equitable Holdings, Inc.
On February 2, 2026, the Company sold Stifel Independent Advisors, LLC, a wholly owned subsidiary and independent contractor broker-dealer, to an affiliate of Equitable, a financial services organization and principal franchise of Equitable Holdings, Inc.Business (Item 1)
Bryan, Garnier & Co.
On June 2, 2025, the Company acquired Bryan, Garnier & Co. (“Bryan Garnier”), an independent full-service investment bank focused on European technology and healthcare companies.Business (Item 1)
Competitors
Fintechs
competes withnamed as a riskTechnology has lowered barriers to entry and made it possible for fintechs to compete with larger financial institutions in providing electronic, internet-based, and mobile phone-based financial solutions.Risk factors (Item 1A)
Places
St. Louis, Missouri
operates innamed as a riskWe have developed a business continuity plan which is designed to permit continued operation of business-critical functions in the event of disruptions to our St. Louis, Missouri, headquarters facility as well as other critical functional areas of the firm.Business (Item 1)
Also named by BA
Commodities and inputs
Real estate collateral
exposed to its pricenamed as a riskDeclines in the real estate market or sustained economic downturns may cause us to experience credit losses or charge-offs related to our loans, sell loans at unattractive prices, or foreclose on certain real estate properties.Risk factors (Item 1A)
Regulators
Federal Deposit Insurance Corporation (FDIC)
subject tonamed as a riskFor banks with greater than $10 billion in assets, which includes Stifel Bancorp, the FDIC’s current assessment rate calculation relies on a scorecard method based on a number of factors, including the bank’s regulatory ratings, asset quality, and amount of brokered deposits.Business (Item 1)
Also named by AFRM, BAC, BNY, CASH, CFG, CFR, COF, FCFS and 27 more
Financial Industry Regulatory Authority (FINRA)
subject tonamed as a riskWe are generally subject to extensive regulation by the SEC, FINRA, and state securities regulators in the different jurisdictions in which we conduct business.Market risk (Item 7A)
Also named by AB, ADP, AGNC, AMG, AMP, BAM, BEN, BR and 23 more
Federal Reserve Board
subject tonamed as a riskConsequently, our company and its business activities are subject to the supervision, examination, and regulation of the Federal Reserve Board (the “Fed”).Business (Item 1)
Also named by ALLY, AMP, BPOP, C, CFG, CFR, CME, COMP and 9 more
Missouri Division of Finance
subject tonamed as a riskOur bank subsidiaries are subject to various regulatory capital requirements administered by the Fed and the Missouri Division of Finance.Business (Item 1)
Also named by EFSC
Consumer Financial Protection Bureau (CFPB)
subject toStifel Bank & Trust and Stifel Bank (collectively “bank subsidiaries”) are state-chartered banks regulated, supervised, and examined by the Fed and the Consumer Financial Protection Bureau (“CFPB”).Business (Item 1)
Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more
Office of the Comptroller of the Currency (OCC)
subject toStifel Trust, is regulated, supervised and examined by the Office of the Comptroller of the Currency (“OCC”).Business (Item 1)
Also named by ADP, AMP, AXP, BAC, BLK, C, CASH, CFG and 22 more
Laws and programs
Securities Investor Protection Corporation (SIPC)
subject to · $500,000 per clientThe SIPC fund provides protection for cash and securities held in client accounts up to $500,000 per client, with a limitation of $250,000 on claims for cash balances.Business (Item 1)
Also named by JEF
SEC Regulation Best Interest
subject tonamed as a riskThe regulation imposes heightened standards on broker-dealers, and we have incurred substantial costs in order to review and modify our policies and procedures, including associated supervisory and compliance controls.Risk factors (Item 1A)
U.S. Basel III Rules
subject tonamed as a riskThe capital requirements stipulated under the U.S. Basel III Rules could restrict our ability to grow during favorable market conditions or require us to raise additional capital.Risk factors (Item 1A)
Also named by RJF
SEC Uniform Net Capital Rule (Rule 15c3-1)
subject tonamed as a riskFurther, we are subject to the SEC’s Uniform Net Capital Rule (Rule 15c3-1) and FINRA’s net capital rule, which may limit our ability to make withdrawals of capital from our broker-dealer subsidiaries.Risk factors (Item 1A)
Also named by LPLA
DOL investment advice fiduciary rule
subject tonamed as a riskIf the rules become effective as promulgated, we expect compliance will require us to alter certain of our business practices and impose additional costs.Business (Item 1)
Protocol for Broker Recruiting
depends onnamed as a riskParticipation in the Protocol is voluntary, and it is possible that certain of our competitors will withdraw from it.Risk factors (Item 1A)
Volcker Rule
subject toWe are subject to the Volcker Rule, which generally prohibits bank holding companies and their subsidiaries and affiliates from engaging in proprietary trading, but permits underwriting, market making, and risk-mitigating hedging activities.Business (Item 1)
Also named by AMP, BAC, GS, HBAN, MS, NTRS, PNC, RJF and 5 more
MiFID II
subject toIn Europe, the Markets in Financial Instruments Regulation and a revision of the Markets in Financial Instruments Directive (collectively referred to as “MiFID II”) imposes certain restrictions as to the trading of shares and derivatives including market structure-related, reporting, investor protection-related and organizational requirements, requirements on pre- and post-trade transparency, requirements to use certain venues when trading financial instruments (which includes shares and certain derivative instruments), requirements affecting the way investment managers can obtain research, powers of regulators to impose position limits, and provisions on regulatory sanctions.Business (Item 1)
Regulation T
subject toThe amounts of the loans are subject to the margin requirements of Regulation T of the Board of Governors of the Federal Reserve System, Financial Industry Regulatory Authority, Inc. (“FINRA”) margin requirements, and our internal policies, which usually are more restrictive than Regulation T or FINRA requirements.Business (Item 1)
Also named by IBKR
Technology
Passive investment products
competes withnamed as a riskA continued trend toward passive investments or changes in market values or in the fee structure of asset management accounts would negatively affect our revenues, business, and financial condition.Risk factors (Item 1A)
Also named by TROW