Two wirehouse advisors managing more than $325 million in client assets have jumped to Baird, according to the firm.
Thomas Marchal managed $175 million in client assets and joins the firm’s Chicago office from Morgan Stanley, according to FINRA BrokerCheck records.
Ken Williams oversaw $150 million in AUM. He joins Baird’s Nashville, Tennessee office, and previously worked with Wells Fargo, per BrokerCheck.
Regional brokerages and firms that assist breakaway advisors have been picking off top talent at the wirehouses.
The regional broker-dealer also hired Burton Street, an ex-complex director with almost 25 years of industry experience, to manage their Indianapolis branch. Street previously worked at RBC.
PLUNDERING THE WIREHOUSES
Baird has been on a recruiting push as of late, grabbing advisors from its larger wirehouse rivals.
The regional BD opened a
Baird’s private wealth management group now has more than 880 advisors serving clients at 88 locations in 29 states, according to the firm.
Headquartered in Milwaukee, Baird manages $107 billion in client assets, according to their latest Form ADV filed in July. Baird’s clients are mostly registered as high-net-worth individuals.
Morgan Stanley and Wells Fargo declined to comment.
INDUSTRY EXPERIENCE
The two advisors have almost 60 years of combined industry experience, according to Baird.
Marchal got his start with Lehman Brothers in 1993 and worked with Smith Barney and Morgan Stanley before moving to Baird, per BrokerCheck.
Williams previously worked for Wells Fargo. He began his career with Prudential-Bache Securities then moved to Merrill Lynch in 1987, per BrokerCheck.
Former advisor Burton Street previously worked with RBC for 13 years. He began his career with Lehman Brothers in 1993, per BrokerCheck.
