Baird Wealth Management has swooped in on Morgan Stanley Smith Barney’s branch in Lynchburg, Va., luring away eight financial advisors with more than $450 million in combined assets.
The advisors will establish Baird’s first wealth management office in Lynchburg. The advisors will be led by Bill Johnson, who joined Legg Mason [LM] as a branch manager in 1990, according to Baird.
After Legg Mason was acquired by Smith Barney in 2005, he continued to work for the firm in a variety of management roles, but by the time he left Morgan Stanley Smith Barney [MS] he had gone back to being an advisor. Johnson will be a producing branch manager at Baird.
He is joined by the four advisors of the Craddock McWane Group, John Craddock Sr., Paul McWane, John Craddock Jr., and Tommy Collins. McCraddock Sr. spent over 22 years at Legg Mason and Smith Barney. McWane spent over 16 years at the firm, according to FINRA filings.
Teammates J. Andrew Flowers and Prescott Terrell are also making the switch to the new office. Flowers spent over 22 years at Legg Mason/Smith Barney. They’re joined by Aubrey Mason, another a 22-year Legg Mason/Smith Barney veteran.
These latest hires follow a string of former Smith Barney managers who have joined Baird since Denise Wypiszensk joined the firm as chief operating officer last November. She was formerly the chief operating officer of Morgan Stanley Smith Barney’s western division.