MSSB Reps Depart for Wedbush, Baird
The Morgan Stanley advisor joining Baird oversees $120 million in assets.
HighTower Adds Ex-UBS Team; Baird Grabs Merrill, Morgan FAs
The former UBS team should go independent with about $330 million in assets, while the advisors joining Baird could bring about $460 million in AUM and $3.2 million in yearly fees and commissions.
LPL, Baird Stage Major Volunteer Projects
Raymond James plans a large community-focused effort for August.
Top Portfolio Products: Baird Launches Small-Cap Product; Fidelity Adds Global Equity-Income Funds
The Hartford announces new managers, funds, as Neuberger Berman and Market Vectors roll out new products.
Top Portfolio Products: Baird Launches Fund; Fidelity Adds Two
New products introduced over the last week include a new small-cap value fund from Baird; two new funds from Fidelity; and three new investment managers and sixteen new funds for The Hartford’s defined contribution retirement program offerings.
Baird Growing Revenues at 12.5% Annual Clip
Milwaukee-based Baird says it has recruited close to 250 advisors over the past two years or so, and its veteran reps have been boosting average fees and commissions by about 12.5% in 2010 and 2011, putting its year-over-year performance ahead of some larger rivals.
Baird Grabs 12 From Morgan, Wells Fargo, Schwab
Baird on Tuesday announced the hiring of 12 advisors from Morgan Stanley, Wells Fargo and Schwab with about $1.8 billion in combined AUM and about $10.4 million in yearly fees and commissions.
Baird Grabs MSSB Branch Manager in Maine
The former Morgan Stanley branch manager oversaw 50 reps and $4 billion in assets.
Baird Boosts Recruiting as Reps Boost Sales 12.5%
Milwaukee-based Baird now includes about 700 financial advisors, says Matthew Curley, national sales director and COO of Baird’s private-wealth management operations.
Wirehouse Market Share Declines as Firms Focus on Profitability
Wirehouses are continuing to lose ground in asset management market share, but do they even care? A new report from financial services industry research firm Cerulli projects that the four biggest brokerage firms will remain the largest distribution channel by a factor of nearly two.