Baird's private wealth management arm announced a key addition on Monday, with a veteran advisor duo joining the firm in North Carolina.
John McAuley and Mary Weeks Fountain joined Baird's North Carolina office from Sterling Capital Management, where they had overseen more than $600 million in client assets.
McAuley joins as a director and financial advisor after leading Sterling's family office and foundations practice, while Fountain steps in as a director and financial consultant following a run as a senior portfolio manager at the same firm.
Both previously spent time at Bank of America Capital Management, and McAuley also worked at William Blair & Company earlier in his career.
The Charlotte addition follows a string of other additions at Baird this year, including the arrival of The Kashian Karels Group last month from RBC and the billion-dollar HWB Partners team who transitioned from Goelzer Investment Management in April.
Wells Fargo Advisors announced it has picked up two new advisors in separate markets along the East Coast.
In Woodbury, New York, Arnold Hochstadt joined from UBS with more than $420 million in client assets and is now working alongside senior registered client associate Indira Lowe. A veteran with more than four decades' experience, Hochstadt's career also includes earlier stints at Citi, Lehman Brothers, and Smith Barney, according to his BrokerCheck record.
Meanwhile, in Edison, New Jersey, Ali Asgher joined from J.P. Morgan with more than $300 million under management.
According to the most recent monthly advisor moves snapshot from AdvizorPro, Wells Fargo saw 74 arrivals in June, effectively earning third place in raw additions behind JPMorgan, which posted 117 inflows, and LPL with 204. However, Wells Fargo also had 83 walkouts, resulting in a net outflow for the wirehouse during the month of June.
On Monday, Wells Fargo officially welcomed Andrew Harpp from LPL as the new head of Advisor Engagement and Growth for its FiNet channel. In a statement, FiNet President John Tyers said the former senior vice president and national sales manager at LPL "brings extensive experience helping advisors grow their businesses and successfully leading recruiting efforts, making him well-positioned to enhance the value advisors receive from their affiliation with FiNet.”
Raymond James' Financial Institutions Division picked up a new bank-affiliated wealth program in Louisiana and Texas, where b1BANK selected the firm to support its in-house investment offering.
The b1 Wealth Solutions Group includes a program manager, a financial advisor and a branch professional overseeing roughly $335 million in client assets. The alignment builds on b1BANK's acquisition of Progressive Bank earlier this year, which brought an existing FID-affiliated team, Progressive Financial Advisors, into the fold.
Combined, the bank's wealth unit now spans three advisors managing more than $600 million.
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