Baird Boosts Private Wealth Group By $460 Million With Veteran Hires

Eliane Chavagnon

27 June 2012

Robert W Baird has further strengthened its private wealth management group, adding five veteran advisors with a combined $460 million in assets under management to its various offices in California, Texas and Oregon.

Joining the Roseville, CA, office is Patty Estopinal, director, with $175 million in AuM.

The Field Nichols Group, based in Portland, OR, consists of vice presidents Matthew Fields and Tonya Nichols, with a combined $170 million in AuM.

Meanwhile, Jayson Bales, senior vice president, and Steve Phillips, vice president, join the Dallas and Fort Worth, TX, offices respectively with a combined $115 million in AuM.

Areas of growth for wealth managers

A recent report from David Barrett Partners said the New York Metro area, California, Florida, Texas and Illinois are the most coveted regions for large wealth managers to build a strong presence.

According to the white paper, these areas represent half of the country’s ultra high net worth wealth segment. However, new “regional pockets” of wealth are also springing up in areas such as Washington, Colorado, Ohio, as well as the DC Metro area.

Since the beginning of 2009, Baird said it has added over 250 financial advisors and branch managers to its private wealth management group. It recently appointed three teams and two individual advisors for its Colorado, North Carolina and Florida offices.

Baird was established in 1919 and is employee-owned, with additional offices in Europe and Asia. It oversees and manages client assets of around $87 billion.