Baird announced Tuesday that it added The Kashian Karels Group to the firm’s wealth management office in Edina, Minnesota, picking up the advisor team from RBC, where it managed more than $508 million in client assets.
The Minnesota advisor team focused on retirement services for private clients and businesses, asset allocation strategies and lending solutions, Baird noted.
The team includes Darla J. Kashian and Michael L. Karels, Directors and Financial Advisors; Tanner Petroske, Associate Financial Advisor; and Ann Hoen, Assistant Vice President.
In addition to Edina, Baird has three other private wealth management offices in Minnesota, in St. Paul, Minnetonka and Rochester.
Kashian has 22 years of industry experience, and Karels has 30 years of industry experience. Each of them most recently served as a Senior Vice President, Financial Advisor and Senior Portfolio Manager at RBC.
Before RBC, Karels worked as a Financial Advisor at UBS Wealth Management, from August 2006 to February 2009, and Piper Jaffray, from May 2000 to August 2006, according to his LinkedIn profile.
With eight years of industry experience, Petroske most recently served as an Investment Associate at RBC.
“We’re seeing continued momentum in Minnesota as experienced teams take a more intentional approach to where and how they build their business,” Ally Shuman, Market Director at Baird, said in a news release.
“Darla & Mike have a disciplined, client-focused practice, which aligns well with how we operate at Baird. Our model is designed to support teams like this - experienced advisors who want a more stable, collaborative environment and the ability to focus on long-term growth.”
Shuman added, “Their decision to join reflects what we’re hearing more broadly across the market.”
Baird’s Private Wealth Management business had over $372 billion in client assets as of March 31. The business has more than 1,400 financial advisors.
Its parent firm, Baird, was founded in 1919, and has over 5,300 associates serving individual, corporate, institutional and municipal clients. It had over $565 billion in client assets as of March 31.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
