BrokerRecruit: More on RW Baird
and Red Granite, LLC
Katherine Gallagher did/does a nice job telling both sides of the story in my opinion.
It is indeed. It will be interesting to see how the assets are spread throughout other institutional managers in the area and if they will see an abnormal upward trend in growth as a result of this.
As it relates to the nearly $4bn in assets that are floating in limbo, most of that money is from the relationship that Vrabel and Bowman established with Smith Barney. I would assume that since there is such a struggle between the two firms as to what is proprietary and what is not, that Smith Barney has already placed these within another relationship that was pre-existing, or perhaps have established another new relationship. Of the firms that I know in the Milwaukee area, they haven't seen a great swell in assets as a result of this.
As it relates to the nearly $4bn in assets that are floating in limbo, most of that money is from the relationship that Vrabel and Bowman established with Smith Barney. [/quote]
Was this money being run for SB clients via their CSG program? If so, it's now with other managers, never to return to either.