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Veteran $1B Wells Fargo Team Moves to Baird

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Baird says that a team with over $1 billion in assets and three advisors has joined it from Wells Fargo Clearing in Anchorage, Alaska.

The Planning Group of the Northwest is now part of Baird. The group includes advisors Margaret R. Price, CFP; Sarah K. Springer, CFP; and Grant F. Shearer.

Price has been in the business for 35 years and spent the past 27 at Wells Fargo, according to FINRA BrokerCheck.

Springer was with Wells Fargo for about 14 years. Shearer spent the last 16 with the San Francisco-based bank, after cutting his teeth at Prudential Securities in the late 1990s.

Baird’s Private Wealth Management business includes roughly 860 advisors with client assets of $126 billion.

Wells Fargo’s Wealth and Investment Management unit includes 14,564 advisors as of Sept. 30, down 3 from a year ago and flat compared with the earlier quarter. Total client assets stand at $1.9 trillion.

In the third quarter, Wells Fargo’s wealth unit boosted revenue slightly to $4.25 billion from $4.10 billion a year earlier; its net income jumped 5% to $710 million.

In the retail brokerage segment, which has some $1.6 trillion of assets, advisory assets grew 14% to $522 billion. Average loan balances expanded 10% from last year “largely due to continued growth in nonconforming mortgage loans,” according to Wells Fargo.


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