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November 27, 2018 at 05:01 PM
Employee-owned Baird is purchasing Hilliard Lyons for an undisclosed price, creating a firm that could have close to 1,300 financial advisors and some $250 billion in client assets. The purchase includes Hilliard Lyons Trust and about 380 advisors with Hilliard Lyons, which has its headquarters in Louisville, Kentucky.
Baird is based in Milwaukee and included wealth management, capital markets, private equity and asset management operations with about $200 billion before the deal. It has about 890 advisors.
“Hilliard Lyons and its well-respected advisors are known for providing high-quality financial advice and service to clients,” according to Mike Schroeder, president of Baird Private Wealth Management. “Their trust capabilities matched with our robust wealth solutions make for a powerful combination that will benefit clients.”
Tuesday’s news comes about six months after Baird gobbled up M. Griffith Investments Services — a team with 12 financial advisors and $2 billion in assets in central New York.
“As we approach Baird’s 100th year, we are immensely proud to welcome Hilliard Lyons to the Baird family,” said Baird President and CEO Steve Booth, in a statement. “Hilliard Lyons has an excellent reputation and many other similarities to Baird including a strong, client-centric culture and business model, a commitment to being a great place to work, and a long history of giving back to the community.”
