Stifel Nicolaus lured away an advisor managing more than $170 million in assets from Baird.
The new recruit, Michael Gregory Foster, had previously worked at McAdams Wright Ragen, a Seattle-based wealth management firm that was acquired by Baird last month.
McAdams Wright Ragen had about 80 advisors and $10 billion in assets when the acquisition was announced.
Foster is based in Bellevue, Wash. He started his career in 1993 at Ragen MacKenzie Group, staying with the firm through its acquisition by Wells Fargo in 2000, according to a statement from Stifel.
Foster moved to McAdams Wright Ragen in 2010, according to FINRA records.
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