Baird has added a team from UBS and an advisor from Charles Schwab with a total of $474 million in client assets, while Stifel has picked up advidors from Morgan Stanley, Wells Fargo and Edward Jones with about $165 million.
Baird said the Dahl Pennise Group has joined it in Chicago after leaving Morgan Stanley. The team oversees $200 million in assets and has about a $1 million in yearly fees and production.
Eric Dahl, CFP, has nearly 20 years at firms including UBS and Bernstein Global Wealth Management; earlier in his career, he worked for the Department of Justice. Tim Pennise, CFP, has 15 years of industry experience at UBS, Bernstein and William Blair.
The two made the move with client specialist Kate Johnson.
“We are delighted to welcome these talented professionals to Baird to help us continue to provide the best financial advice and service to our clients in Chicago,” according to Frank Moroni, area market director for Baird Private Wealth Management. “The Dahl Pennise Group has built an outstanding reputation, and we could not be more pleased to have them join our team.”
In Denver, David Burchfield moved to Baird from Schwab in Denver, where he works with $274 million and generates $1.5 million in annual production. He has more than 20 years of experience.
Meanwhile, Stifel added the financial advisors: John Pethokoukis in Chicago, who used to be with Morgan Stanley, where he was responsible for $107 million in client assets; James Campbell in Altoona, Pennsylvania, from Wells Fargo Advisors, where he worked with $17 million; and Scott Witham in Medford, Oregon, from Edward Jones, where he managed. $41 million.
“Stifel is always on the lookout for financial advisors who are a cultural fit to join offices where we have succession planning needs,” said John Pierce, Stifel’s head of recruitment, in a statemet. “By bringing in younger licensed advisors, we are taking care of current clients and next-gen clients as well.”
Janney Montgomery Sott has added two teams from Raymond James’ employee channel in South Carolina and opened a new branch office in Greenville. The two teams work with a total of nearly $290 million: Waingart Wealth Advisors has more than $155 million, while Luke Capital Management has about $134 million.
Waingart Wealth is a four-person team led by Edwin Waingart, who has 17 years in the business and has worked for Raymond James & Associates (RJA), UBS and Morgan Keegan. He is joined by George Koutsioukis, Julie Gawel, and Christina Latham.
Luke Capital Management is led by 27-year industry veteran David Luke; the group includes Cabrini Harnage and Charlotte Stillwell. Luke has been an advisor with RJA, UBS, Smith Barney, Morgan Keegan and J.C. Bradford.
“Edwin and David lead two experienced and highly regarded teams with a comprehensive approach to helping clients with their wealth management needs. Their teams have worked in the same office for the last 14 years, which will help foster an environment for future growth,” said Andy Kistler, southeast regional manager, in a statement.
Mercer’s Latest Deal
RIA Mercer Global Advisors of Denver says it has bought Sage Future Financial of Albuquerque, New Mexico, which has about 45 high-net worth-household clients and assets of about $100 million. The Sage deal brings the firm’s total office tally to 44 and its assets to over $16.5 billion.
Sage was founded by Donna Skeels Cygan, CFP, who has over 20 years of experience in the business.
“Donna is a great addition to the team. With the successful business she has built, we are now able to partner with her to grow our collective presence thr
“Mercer Advisors ‘family office’ business model with in-house estate planning lawyers, tax return professionals and corporate trustee services is a great value add and complements my philosophy of holistically serving all my clients’ financial needs,” Skeels Cygan explained in a statement.