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.”