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ON THE MOVE-Baird lands Wells advisers, UBS director in Houston
April 9, 2013 / 7:49 PM / in 5 years

ON THE MOVE-Baird lands Wells advisers, UBS director in Houston

April 9 (Reuters) - Robert W. Baird & Co said on Tuesday it
landed seven veteran advisers from Wells Fargo & Co's 
U.S. brokerage division and hired a former UBS Wealth Management
Americas director to open a new office for the firm in Houston.
    The advisers, who joined Baird's private wealth management
group on Friday, managed more than $770 million in client assets
at Wells Fargo Advisors, the third-largest U.S. brokerage owned
by the San Francisco-based bank.
    The advisers specialize in retirement planning for oil and
gas industry professionals in the region.
    "It's a real niche part of their practice," said Baird's
national sales director, Matt Curley, in an interview, noting
that the firm has its sights set on expanding further into the
Houston market, and more broadly, Texas. "There's a tremendous
base of financial advisers there."
    Among the new recruits are advisers J. Gillette Burns,
Orlando Montesino and Andrew Atkinson, who have worked together
at the Burns Financial Group for more than eight years. Also
joining Baird from Wells are advisers Richard Pfeil, Matthew
Leatherwood, Thomas Davis and C. Nelson Shields.
    All seven advisers were legacy A.G. Edwards & Sons advisers
who joined Wells Fargo after A.G. Edwards was acquired in 2007
by Wachovia, which one year later was acquired by Wells. Many
legacy A.G. Edwards advisers stayed with the brokerage through
the acquisitions.
    Baird's new Houston office will be managed by former UBS
complex director John Hantak.
    Hantak oversaw more than 50 advisers who managed $48 million
in annual revenue production at UBS Wealth Management Americas,
the U.S. brokerage unit owned by the Swiss bank UBS AG 
. He had also previously been a manager with Citigroup's
 Smith Barney.
    Milwaukee-based Baird has added nearly 275 financial
advisers and branch managers to its private wealth management
group since the beginning of 2009. Many of those hires were
industry veterans who joined the firm from big U.S. brokerages.
    Wells Fargo confirmed the adviser departures, but declined
to comment further.
    UBS did not immediately return a request for comment on
Hantak's departure.

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