Profits and advisor ranks are growing fast at Baird.
The Milwaukee-based firm reported record operating income of $135 million for 2014, up 15% year-over-year, according to the firm's annual report. Baird also said that advisor headcount jumped by more than 100 to 816 advisors, boosted in large part by the firm's acquisition of Seattle-based broker-dealer McAdams Wright Ragen early last year.
Through the deal completed in July, Baird significantly expanded its footprint in the Pacific Northwest. The firm picked up about 80 advisors based in seven offices in Oregon and Washington. The West Coast has been a major growth area for Baird, Raymond James and othe regional firms.
Baird also said net revenue grew 12% year-over-year, increasing to a record $1.2 billion for 2014. The firm said it had reported record revenues for the past five years.
Baird reported that its private wealth management unit's client assets rose to $109 billion from $91 billion from the prior year, according to the firm's annual reports.
"Each of our businesses continued to excel in providing service and solutions to our clients, and several achieved records in key metrics and revenue," Paul Purcell, Baird's chairman and CEO, said in a statement.