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.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
