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Technology > Investment Platforms > Turnkey Asset Management

Baird Adds 7 Advisors From Morgan Stanley, Wells Fargo

By Janet Levaux

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Baird added five advisors from Morgan Stanley and two from Wells Fargo over the past seven weeks, the company said Tuesday. The seven new Baird advisors, all based in the Midwest, have combined assets under management of $420 million and total yearly fees and commissions of $2.8 million.

The Morgan Stanley advisors that joined Baird are Matt Bruner and David Schwarz in Columbus, Ohio; Phylliss Lovrien in Madison, Wis., and Jim Ritchay in Green Bay, Wis.

Joining Baird from Wells Fargo Advisors is the team of Mary Howard and William Perry in Sioux Falls, S.D.

Baird says it has added about 200 financial advisors and branch managers to its private wealth-management group since the beginning of 2009. It now has about 700 financial advisors nationwide with more than $65 billion in assets under management.

It has also opened or announced plans to open wealth management offices in several new markets. New office locations include Sioux City, Iowa; Fort Worth, Texas; Charleston, S.C.; Charlotte, N.C.; Winston-Salem, N.C.; Denver; Sacramento, Calif. Lynchburg, Va.; Raleigh, N.C.; and Portland, Ore.

In mid-May, Baird hired Steven W. Stroker, formerly of Morgan Stanley Smith Barney, as a regional director for its branches in Indiana, Michigan, Ohio and most of Illinois. At Morgan Stanley, Stroker oversaw 220 advisors in 10 branches with about $17 billion in client assets.  

Baird said in early May that David Marshall and Gavin Amato joined the employee-owned firm from Morgan Stanley Smith Barney and now serve clients as the Marshall–Amato Group in Baird’s Portland office. The team has overseen about $400 million in client assets and generated roughly $1.1 million in yearly revenue before leaving the wirehouse firm.

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