Baird extends Virginia presence with $510M Edelman pair

Baird extends Virginia presence with $510M Edelman pair
Robert Bowman and Matthew Preddy, directors and financial advisors at Baird Private Wealth Management.
With nearly a half-century of experience, the hybrid RIA's latest hires are joining its newest office in Richmond.
OCT 07, 2024

Baird is extending its East Coast presence again at Edelman's expense as two advisors who managed more than half a billion dollars join its newest location in Virginia.

On Monday, Baird Private Wealth Management announced it has hired two experienced financial advisors, Robert Bowman and Matthew Preddy, to join its newly opened office in Richmond.

The move is part of the firm’s broader expansion in the state, counting locations in McLean Lynchburg, and Fairfax, where it welcomed another Edelman advisor just last month. Baird’s Richmond office is located at 3957 Westerre Parkway.

Bowman and Preddy both bring significant industry experience to their new roles as directors and financial advisors.

Bowman, who has 25 years of experience, managed $285 million in assets at Edelman Financial Engines. He will be joined by associate financial advisor Dustin Dodge. Preddy, who comes to Baird with 20 years of experience, managed $225 million in assets at Edelman. Preddy will work with client assistant Ana Rawls in his new role.

Jim McGuire, branch manager at Baird, emphasized the importance of the firm’s Virginia expansion.

“We are excited for the new Richmond location and to welcome these two impressive advisors to Baird,” he said in a statement. “Each has a proven track record of being committed to the local Virginia community and are welcome additions to our growing footprint in the state.”

Baird’s private wealth management division now includes more than 1,400 financial advisors nationwide, managing over $310 billion in client assets as of June 30. On top of its moves in Virginia, the firm has made numerous notable additions this year, including a former Wells Fargo advisor in Ohio and a top-caliber veteran advisor who joined from RBC in Minnesota.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.