Baird said Wednesday that it had hired seven financial advisors with a total of about $717 million in assets under management from Morgan Stanley (MS), Wells Fargo (WF) and two other firms. The advisors join the firm in California, Colorado, Oregon and Utah.
Richard Nigro, previously with Morgan Stanley Smith Barney, is joining employee-owned Baird’s Salt Lake City office. Nigro’s assets under management are about $82 million. Another Morgan Stanley advisor– Philip Holbert–left Morgan Stanley to join Baird in Denver; Holbert’s assets total $100 million.
In Sacramento, Calif., Baird recruited the Cairns and Kay Financial Group–which includes Daniel Cairns, CFP, and John Kay–from Wells Fargo with about $100 million in assets under management.
Clark Robert Nye left Seattle Northwest Securities recently to join Baird in Portland, Ore., with about $220 million in assets.
Also new to the Baird team in Portland are Tim Shipley and David Louthan. They formerly worked for Wedbush Securities, where they managed $135 million and $80 million in assets, respectively.