Baird, the employee-owned international firm with a presence in wealth management, asset management, and private equity has expanded its footprint in Minnesota as a seasoned advisor joins its ranks.
On Monday, the firm revealed the latest move at its Minnetonka wealth management office with the addition of veteran advisor Brad L. Spencer.
Spencer, who joins as vice president and financial advisor, brings over 25 years of experience and previously managed more than $206 million in assets at RBC Capital Markets. His daughter, Jordan L. Spencer, joins him as client assistant.
His BrokerCheck record with Finra shows an even longer career, starting in 1987 with a more than 10-year tenure as a broker at Dain Rauscher Incorporated.
Karen Heintz, market director with Baird, highlighted the excitement at the firm as “another high-quality advisor … has joined one of our Baird Twin Cities branches.”
“Brad’s dedication to clients first and giving back to the community are a perfect fit with the Baird culture,” Heintz said in a statement.
Spencer’s move in Minnetonka extends Baird’s presence in Minnesota, which goes back 50 years starting in 1974.
The firm has steadily expanded since then with numerous milestones, including the opening of a private wealth management office in St. Paul in 2019. Baird now operates private wealth management offices in Minnetonka, St. Paul, Edina, and Rochester, collectively operating with over 60 associates covering asset management, fixed income, and public finance.
More broadly, Baird’s private wealth management division is a formidable enterprise of more than 1,400 financial advisors, with an average industry experience of 20 years, overseeing north of $290 billion in client assets from coast to coast.
In July, Baird extended its presence in Ohio as a former Wells Fargo advisor with $185 million in assets made his decision to break away.
More recently, the firm lost a trio of advisors to Raymond James’ employee advisor channel, Raymond James & Associates, as a veteran advisor and his two sons defected to RJA in Indiana.
The recently rebranded Focus Partners Wealth is growing again, this time with a pending deal for a Fairfax, Virginia advisory firm.
The transaction significantly expands the firm's reach and capabilities
Northern Trust is "absolutely loaded with wealthy clients," one executive said.
Use of digital tools and a longer investment horizon are clear advantages.
Research reveals one type of retirement account is showing strongest growth.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
