Baird Hires Morgan Stanley, KCCI Advisors in Colorado

After picking up nine Morgan Stanley Smith Barney advisors in late August, Baird's wealth management unit attracts three more in late September.

Baird hired three financial advisors from Morgan Stanley Smith Barney and one from KCCI to join its branch in Boulder, Colo., on Tuesday. According to Baird, the four advisors managed a total of close to $450 million in client assets.

The three advisors joining Baird from Morgan Stanley are Lee Carlin, Roger Cracraft and John C. Frisbie; John Bickel joins from KCCI.

In late August, Baird hired nine financial advisors from Morgan Stanley Smith Barney in Charleston, S.C., and Fort Worth, Texas, with about $1.3 billion in total client assets.

As a result of the recent hires, the broker-dealer has hired 53 new financial advisors and branch managers this year and close to 100 wealth management professionals.

Its 660 financial advisors operate in 65 branches and have roughly $57 billion in assets under management.

"These well-respected and talented financial professionals are a great addition to the firm and will be instrumental in helping us expand our wealth management presence in Boulder, Denver and the rest of the state," said Steve Binder, senior vice president and Colorado market director for Baird's private wealth management group, in a statement.

"We are excited about our continued expansion in Colorado and remaindedicated to providing the best financial advice to clients in the area," explained Erik Dahlberg, managing director and regional director for Baird's private wealth-management group, in a press release.

Baird firm recently opened wealth management offices in Charlotte, N.C., and Winston-Salem, N.C., and announced plans to open an additional wealth management office in Raleigh, N.C.

It opened its Charlotte office after hiring four FAs with about $350 million in assets from Morgan Stanley Smith Barney in late May.

In July, Baird hired Wells Fargo veteran William "Bill" Welsh as a director to lead its San Francisco wealth management office. Baird also has two equity and fixed income capital markets offices in San Francisco, an investment banking office in Palo Alto, Calif. and three wealth management offices in the greater Sacramento area.

Earlier in the summer, Baird picked up four advisors from UBS with $160 million. They joined Baird in Milwaukee, Wis. where the firm is based.

"We are careful in how we manage the business, because about half of the associates own a piece of the company, which is privately held," said Denise Wypiszenski, COO of Baird Private Wealth Management, in a phone interview in April.

Baird's private wealth managementadded more than 100 advisors last year.

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