Milwaukee-based Baird said late Tuesday that it had completed its purchase of McAdams Wright Ragen, adding 85 advisors with some $10 billion in client assets and seven offices in the Northwest.
With the close of the deal, first announced in April, Baird’s wealth management business now includes more than 800 advisors working in 80-plus offices in 26 states. It also has about $125 billion in assets in its wealth management and other business units.
“We couldn’t be more pleased to welcome McAdams Wright Ragen’s associates and clients to the Baird family, and to expand our presence in the Pacific Northwest,” said Chairman and CEO Paul Purcell, in a press release. “This is a great day for both of our firms.”
In late June, Baird added two financial advisors to its Private Wealth Management group in Denver and San Francisco, both from RBC Capital Markets. The advisors’ combined assets under management total about $230 million.
“We initially elected to partner with Baird due to the perceived cultural similarities between our companies,” said Scott McAdames, president and CEO of McAdams Wright Ragen, in a statement. “Over the past two months, as we have worked more closely with many Baird associates, we are even further convinced of the similarities in our cultures and values. We are very excited to be part of the Baird family.”
Check out Baird to Merge With MWR, Add 85 Reps on ThinkAdvisor.