Regional brokerage firm Robert W. Baird & Co. Inc. has scored a large recruiting win with the addition of six advisers from Wells Fargo Advisors who previously managed some $1.1 billion in assets combined.
The group, which will open a new office for Baird in Wichita, Kan., brought in $5.44 million in annual revenue from those assets, according to a press release.
via Baird scoops up advisers with $1.1 billion from Wells Fargo.
(Bloomberg) — Stifel Financial, the Missouri-based investment bank known for snapping up regional rivals and Wall Street castoffs, agreed to buy Barclays’s U.S. wealth management business.
Barclays had about 180 financial advisors in the U.S. managing $56 billion in total client assets as of May 31, St. Louis-based Stifel said Monday in a statement that didn’t include terms. Barclays had bought the unit with other Lehman Brothers operations in 2008 and was faulted by regulators last year for inadequate internal controls there.
via Stifel to Buy Barclays Wealth Management Unit | IAG Breaking News.
Two advisors joined Merrill Lynch from UBS, where they generated more than $3 million in annual revenues, according to a Merrill spokeswoman.Advisors Matt Yonally and Chris Compogiannis managed more than $300 million in assets while at UBS.Yonally said they made the move to Merrill because “we believe that their lending capabilities and goals-based wealth management process distinguishes them from other firms.”