ON THE MOVE-Baird hires former Wells Fargo Advisors manager

Wed Jan 30, 2013 11:36am EST

Jan 30 (Reuters) - Robert W. Baird & Co said on Wednesday it hired a former Wells Fargo Advisors senior manager to help expand the firm's recruiting of veteran advisers, with plans to open a new office in the Northeast.

Peter Miller joined Baird last week as a senior vice president, based out of the firm's office in St. Louis, Missouri.

Miller, who has worked in the advising industry for three decades, was most recently head of Wells Fargo's Advisor Development Group, for which he managed recruiting, training and development for the firm's branch managers and financial advisers.

He left Wells in late 2011. The company declined to comment on his departure.

Miller spent the bulk of his career with A.G. Edwards & Sons, where he eventually became executive vice president. He started his career as a financial adviser with Kidder, Peabody & Co.

Wells Fargo Advisors, owned by Wells Fargo & Co, is the third-largest U.S. brokerage. The firm in 2008 took over Wachovia, which one year earlier had bought A.G. Edwards. During those acquisitions, many A.G. Edwards advisers and executives made the transition over to Wells.

In his new role at Baird, Miller will help Baird recruit veteran advisers with the eventual goal of opening and managing a new wealth management office in the Northeast.

Milwaukee-based Baird said it has added more than 250 financial advisers and branch managers to its private wealth management group since the beginning of 2009. Many of those hires were industry veterans who joined the firm from big U.S. brokerages.