Baird is rolling on with its October recruitment calendar as it welcomes two new advisor teams to a newly opened location.
On Tuesday, the employee-owned firm announced the addition of two advisory teams and the opening of a new wealth management office in Franklin, Tennessee, marking a strategic expansion in the state. The Berry Peña Group and The Elder Group are joining the firm’s latest branch at 3401 Mallory Lane, bringing a combined $580 million in assets.
The Berry Peña Group transitions from B. Riley to Baird, with team members Tyler Berry, director and financial advisor, and Rachel Peña, senior vice president and financial advisor. Their team is supported by Cherie Seale, senior client specialist.
The Elder Group, moving from Janney Montgomery Scott, includes Steve Elder, director and financial advisor, and Ben Elder, vice president and financial advisor, with support from Tamara Hackett, senior client specialist.
"We are thrilled to further cement our strong presence in the state with this new branch in Franklin and these two talented teams," Parker Griffith, southeastern market director for Baird’s private wealth management group, said in a statement. “We are adding decades of experience, dedication and a deep understanding of the local Tennessee community, which goes hand in hand with Baird’s commitment to putting clients’ interests first.”
Both Berry and Peña bring nearly three decades of experience to Baird. Steve Elder, who began his career in 1989, previously spent 17 years at Hilliard Lyons before joining Janney in 2017, while his son Ben Elder, before his role at Janney, worked at Jackson National as an analyst.
Baird’s private wealth management division now operates 11 offices in Tennessee, with additional public finance and institutional services based in Nashville and Knoxville. The firm’s wealth management business comprises over 1,400 financial advisors managing more than $310 billion in client assets as of mid-2024.
Baird's latest additions in Tennesse snap its recent recruitment streak of ex-Edelman advisors, which included a $285 million advisor joining in Fairfax, Virginia and an experienced advisor pair operating at its newly opened Richmond office.
Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
