SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549
                                
                                
                                
                                
                            FORM 8-K
                                
                                
                                
                         CURRENT REPORT
                                
             PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934
                                
                                
                                
 Date of Report (Date of Earliest Event Reported):  December 9, 1996
                                
                                
                                
                     STIFEL FINANCIAL CORP.
     (Exact Name of Registrant as specified in its Charter)
                                
                                
                                
      Delaware               1-9305              43-1273600
     (State of          (Commission File        (IRS Employer
   Incorporation)           Number)          Identification No.)
                                                      
                                
                                
                       500 North Broadway
                 St. Louis, Missouri 63102-2188
  (Address of principal executive offices, including zip code)
                                
                                
                                
                                
                         (314) 342-2000
      (Registrant's telephone number, including area code)



Item 4.  Changes In Registrant's Certifying Accountants

     The  Board  of  Directors  of Stifel  Financial  Corp.  (the
"Registrant"),  upon the recommendation of its  Audit  Committee,
determined  to appoint Deloitte & Touche LLP as the  Registrant's
newly  engaged certifying accountants and Deloitte &  Touche  LLP
has  accepted  this  appointment.  During  the  two  years  ended
December  31,  1995,  and through the date of their  appointment,
Deloitte & Touche LLP has not provided any consultations  to  the
Registrant regarding the application of accounting principles  to
specific  transactions and the type opinion that  they  may  have
rendered on the financial statements.
     




                            SIGNATURE

     Pursuant to the requirements of the Securities Exchange  Act
of  1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.

                              STIFEL FINANCIAL CORP.



Date:  December 16, 1996       By:      /s/  Stephen J. Bushmann
                               Name:    Stephen J. Bushmann
                               Title:   Chief Financial Officer