Baird Private Wealth and Merrill Lynch made sizeable additions to their respective advisory networks on Monday, with Baird welcoming a former RBC team in Minnesota while Merrill recruited two family-led practices from Baird and Wells Fargo.
On Monday, Baird Private Wealth announced the addition of The Kashian Karels Group to its wealth management office in Edina, Minnesota.
The team of four – Darla J. Kashian, Michael L. Karels, Tanner Petroske, and Ann Hoen – joined from RBC Wealth Management, where they managed more than $508 million in client assets.
The team's practice centers on retirement services for private clients and businesses, asset allocation strategies, and lending solutions.
Kashian brings 22 years of industry experience to Baird, including her most recent stint as a senior vice president, financial advisor, and senior portfolio manager at RBC. Karels brings 30 years of experience and previously held roles at UBS and Piper Jaffray before joining RBC, where he held an equivalent senior vice president title.
Petroske, with eight years in the industry, most recently served as an investment associate at RBC. Hoen was affiliated with RBC Capital Markets as a registered broker from 2014 to 2019, then as an investment advisor from 2022 until moving to Baird, according to her BrokerCheck record with FINRA.
"We're seeing continued momentum in Minnesota as experienced teams take a more intentional approach to where and how they build their business," said Ally Shuman, market director for the region. "Darla & Mike have a disciplined, client-focused practice, which aligns well with how we operate at Baird."
Roy Savarick and his son Evan Savarick joined Merrill Lynch from Wells Fargo, bringing $280 million in client assets, according to the firm.
With a production record of $2.3 million annually, the team's geographic footprint spans two East Coast markets: Evan Savarick is based in Merrill's Park Avenue office in New York led by Market Executive Joe Doonan, while Roy Savarick is part of the Florida Tropics market in Fort Lauderdale, which is led by Market Executive Jason Edelmann.
Roy Savarick brings more than four decades of industry experience to his role, while Evan Savarick arrives as an experienced advisor with 15 years under his belt.
Separately in Iowa, Brandon Pribyl and his sons Tobey Pribyl and Bailey Pribyl joined Merrill Lynch in Davenport from Baird Private Wealth, having also managed $280 million at their former firm.
Having previously produced $1.9 million in annual revenue, the trio are based in Merrill's Davenport office, led by Resident Director Heidi Parkhurst, and operate within the Mid Land Market under Market Executive Will Cohen.
Brandon Pribyl carries more than 20 years of experience in financial services. Tobey Pribyl transitioned into wealth management five years ago following a career in engineering, while Bailey Pribyl recently joined the team after earning an engineering degree and beginning a career in manufacturing.
The two Merrill hires push the firm's recent recruiting total to more than $1 billion in client assets the past two weeks, counting its addition of Steve Keller and Cole Keller – another father-son team – from Morgan Stanley in Silicon Valley.
Investors say the advisor graded its own assets - then cashed in
Oregon investors allege Norada sold high-yield notes through a Ponzi scheme
Schwab founder Charles Schwab invested in Kalshi in 2021. Now the brokerage is launching binary options on predicting the S&P 500 through Cboe.
With more HNW clients coming to meetings armed with AI research, BNY Wealth report finds advisor expertise is more critical than ever as the final human check.
The GWG L bond debacle has been unwinding for several years.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
