Baird nabs advisers from wirehouses in recruiting binge

The firm snagged five industry veterans from UBS and Wells Fargo, including two branch managers and $275 million in assets

Feb 10, 2014 @ 11:03 am

By Mason Braswell

+ Zoom

Robert W. Baird & Co. Inc. has continued its recruiting momentum from last year with pickups from UBS Wealth Management Americas and Wells Fargo Advisors.

Looking to keep pace with last years' growth, Baird kicked off the year with the addition of two branch managers and a group of advisers with $275 million in combined assets in Kansas City, Dallas and Reston, Va.

“On a relative basis, given the number of financial advisers that we've added, we've done pretty well,” said John Mabee, vice chairman of Baird's private wealth management group. “We'd like to stay on pace and we may have a shot of increasing a little bit [from last year].”

In Kansas City, Baird added the Gollier Henning & Waters Group, which oversaw $215 million and generated $1.7 million in fee and commission revenue while at Wells Fargo. The group includes Frederick Gollier, who is a director and financial adviser; Michael Henning, vice president and branch manager; and Christopher Waters, vice president and financial adviser.

The firm also nabbed adviser Lawrence Magid, who produced around $565,000 from $60 million in assets from Wells Fargo. Mr. Magid joins Baird's Dallas office.

Carl Chaput joins from UBS and will be a non-producing branch manager in the Reston office.

Baird was one of the big winners for recruiting last year, according to moves tracked by InvestmentNews. The firm brought in 16 teams with and roughly $2.9 billion in assets in 2013, data from the Advisers on the Move database shows.

The firm, which has a total of 735 advisers, has had success with recruiting advisers who began their career at regional firms such as A.G. Edwards Inc. that were acquired by wirehouses in recent years, Mr. Mabee said.


What do you think?

View comments

Recommended for you

Featured video


Ed Slott: Many investors are still not using this IRA strategy to save on taxes

If you have a client who has an IRA that is subject to required minimum distributions and they're donating to charity, they should be using qualified charitable distributions, according to Ed Slott, founder of Ed Slott's Elite IRA Advisor Group.

Video Spotlight

Will It Last As Long As Your Clients Do?

Sponsored by Prudential

Video Spotlight

The Catalyst

Sponsored by Pershing

Latest news & opinion

Edward Jones is winning the Google search war

Brokerage firm's digital marketing investment helps land it at the top of local and overall search engine results, report finds.

Voya's win in 401(k) fee suit involving Financial Engines bodes well for other record keepers

Fidelity, Aon Hewitt and Xerox HR Solutions are currently defending against similar fiduciary-breach claims.

Collective investment trusts getting more attention from 401(k) advisers

The funds are catching on due largely to lower costs and more product availability, but come with some inherent drawbacks.

Vanguard rides robo-advice wave to $65B in assets

Personal Advisor Services, four times the size of its closest competitor, combines digital and human touch.

CFPs, including brokers, may have to adhere to a stricter fiduciary duty

CFP Board revises its standards and aims to beef up fiduciary requirements of certificants.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print