Baird recruits veteran advisors with $228M following Hilliard Lyons deal
After both a major merger and the separate addition of over 45 financial advisors since the start of 2018, Baird shows no signs of slowing down its recruiting efforts. The regional brokerage added a pair of veteran advisors with $228 million in assets to its new St. Louis office.
Richard Fisher and Dan Sullivan previously spent 15 years with Oppenheimer, according to FINRA BrokerCheck records. Fisher has close to 50 years of industry experience, while Sullivan comes with over 20 years of experience.
Fisher and Sullivan also generated over $1 million in annual production while with Oppenheimer, according to Baird.
“We are very pleased that a strong cultural fit made Baird the best place for these talented professionals to continue their storied careers,” John Mabee, Baird’s private wealth management vice chairman, said in a statement. “Their reputation and experience make them a tremendous addition to Baird. With them on board, we are excited to grow our footprint in Missouri, and provide the best financial advice and service to the community of St. Louis.”
The deal could grow Baird’s headcount by about 44%.November 27
Acquisitions in wealth management have proven tricky in recent years.November 29
The advisors join the regional firm from Morgan Stanley and Wells Fargo.September 19
Neither advisor was available for comment. Oppenheimer hasn't responded to a request for comment on the move.
The addition of Fisher and Sullivan to Baird’s advisor ranks comes just over a week after the wealth management firm announced the acquisition of fellow regional brokerage Hilliard Lyons for an undisclosed amount.
Baird’s Private Wealth Management business encompasses more than 890 financial advisors serving clients in 98 locations in 30 states, and has $140 billion in client assets. The Hilliard Lyons deal brings the firm an additional 380 advisors and $50 billion in client assets.
Baird, an international, employee-owned wealth management, capital markets, private equity and asset management firm with more than $200 billion in client assets.