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Baird Adds Advisors and Assets

June 2, 2010
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There is no letting up at Robert W. Baird, which recently added teams in Milwaukee and Charlotte, N.C., which collectively represent more than half a billion dollars in client assets.

Baird grabbed a former UBS team known as the WE Group, for its Milwaukee office, the largest wealth management office in the firm. The five-person team is made up of Paul E. Westphal, the group’s director, John W. Ethington, a certified public accountant and senior vice president and two financial advisors, Dan T. Gilipsky and Tyler R. Briggs. They collectively manage $160 million in client assets.

According to a statement from Baird, Westphal was the UBS manager for that firm’s Milwaukee office. Before that, he served as a complex manager for UBS [UBS] and Piper Jaffray, in southeastern Wisconsin.

Last week, Baird announced it opened an office in Charlotte with four advisors known as the Parrott, Forbes & Floyd Group, which manages more than $350 million in client assets. The group consists of Michael C. Parrott, senior vice president; two vice presidents Charles S. Forbes and Trea Floyd and advisor, James Bunting. They were formerly with Morgan Stanley Smith Barney, a joint venture between Morgan Stanley [MS] and Citigroup [C].

In a statement, Baird said it added more than 100 financial advisors to its private wealth management unit last year and another 34 advisors and branch managers since the beginning of this year.  Baird’s advisors managed and oversaw more than $58 billion in client assets as of March 31.

Frances McMorris was named editor-in-chief of ON WALL STREET in February 2008, after serving as executive editor since December 2004. She also created and serves as the host of AdvisorTV, an online video interview show appearing at onwallstreet.com.

From indictments to verdicts and appeals, Ms. McMorris has covered many major, high-profile cases in both federal and state courts as a legal affairs reporter for The Wall Street Journal, The New York Daily News, Newsday and The New York Law Journal. The cases that she has covered include: the seditious conspiracy trial of Sheik Oman Abdel Rahman, the blind Egyptian cleric convicted of being the spiritual mastermind of the 1993 World Trade Center; the constitutional battle over the “Don’t Ask, Don’t Tell” military policy; the Crown Heights riot murder trial; federal racketeering cases against violent gangs; the Long Island pet cemetery trial and several securities fraud and insider trading cases, among others.

The legal issues she has written about are diverse and numerous, ranging from economic espionage to employment discrimination rulings and the first story to report that there is no expectation of privacy for employee emails written in the workplace.

Ms. McMorris is a 1993 graduate of Fordham University School of Law and admitted to the New York and New Jersey bars. She has appeared on the former CNNfn to give expert commentary on trials.

She also served as president of the Newswomen’s Club of New York for three years while working as an assistant managing editor at The Daily Deal in New York.

ON WALL STREET magazine has a circulation of more than 90,000—reaching financial advisors and brokers at the most prestigious brokerage firms who serve high-net-worth and ultra-high-net-worth investors.

How much larger do you think Baird will get this year?