Feb 11 Robert W. Baird & Co has expanded its
adviser force in Florida with a veteran team of advisers who
joined the firm in February from Wells Fargo & Co's U.S.
Milwaukee-based Baird said on Monday it hired advisers Jim
Caprara and Chris Hain from Wells Fargo Advisors, where they
managed $175 million in client assets. The advisers opened a new
office for Baird in Merritt Island, Florida.
The new additions come shortly after Baird said last month
it hired a former Wells Fargo senior manager to help expand the
firm's recruiting of veteran advisers. Peter Miller, who was
most recently head of Wells Fargo's Advisor Development Group,
joined Baird in January as a senior vice president, based in the
firm's St. Louis office.
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 to Wells.
Both Caprara and Hain had been legacy A.G. Edwards advisers
who joined Wells through the acquisitions.
Wells Fargo confirmed the departures but declined to comment
Milwaukee-based Baird said it has added nearly 275 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.