Baird is furthering its expansion and recently opened a new branch office staffed by recruits who collectively oversaw nearly $240 million at their previous employers, a spokeswoman said.

The additions represent the latest hires for Baird, which has been actively pursuing new recruits this year. The firm's newly-opened location in Durango, Colorado is Baird's fifth branch office to open this year. The other locations were in Tucson, Arizona; Ann Arbor, Michigan; Elgin, Illinois; and Toledo, Ohio.

In June, Baird bought M. Griffith, a small wealth management firm in upstate New York that had a dozen advisors overseeing $2 billion in client assets. The deal expanded Baird's presence in the Northeast.

Baird's newest hires include financial advisors William Luthy and Tina McCallum as well as client assistant Marcia Baxter. Luthy will also serve as resident manager in Durango, according to Baird.

Together, they oversaw $135 million in client assets while at Morgan Stanley, Baird said.

Luthy had been with Morgan Stanley or its predecessor firm Smith Barney since starting his advisory career in 2002, according to FINRA BrokerCheck records. He also serves as a volunteer firefighter, according to Baird.

McCallum joined Morgan Stanley in 2006 from Wells Fargo, per BrokerCheck records.

Advisor Michael Barth, formerly with UBS, also joined Baird's new office. Moving with him are financial advisor trainee Christopher Hughes and client assistant Suzanne Jackson.

Barth had been with UBS since 2008, having previously worked at Merrill Lynch, according to BrokerCheck records.

He oversaw $104 million in client assets, according to Baird.

Spokeswomen for Morgan Stanley and UBS declined to comment on the departures, which occurred last week.

Baird's Durango office is its fourth wealth management location in Colorado. Durango, a small city of 18,465 people, is located in the southwestern part of the state near Mesa Verde National Park and San Juan National Forest.

Baird’s wealth management business has about 860 financial advisors operating from 94 branches, according to the company. The Milwaukee-based firm has client assets of $136 billion.