A Tennessee-based advisory team with more than $383 million in assets under management is joining Baird from Morgan Stanley, the employee-owned wealth management firm announced.
The Parker Group location will be Baird’s 11th private wealth management office in Tennessee. The team consists of Stewart Parker and Drew Parker, who serve as co-directors, as well as Clay Buttrey and Richard Law. Parker Griffith, the southeastern market director for Baird’s Private Wealth Management group, said Baird was “thrilled” to have the team join the firm.
“Baird is excited to grow our footprint in Middle Tennessee with the addition of a team of professionals that share our deep commitment to putting client interests first,” he said.
Baird, which was founded in 1919, has an international footprint, with 4,600 associates handling individual, corporate, institutional and municipal clients with more than $305 billion in total client assets as of the end of last year. Its private wealth management business includes more than 1,300 advisors working out of more than 160 offices in 33 states, with total client assets totaling more than $215 billion.
The Parker Group team, based out of Columbia, Tenn., has nearly 70 years of collective experience in the financial services industry. In addition to the firm’s private wealth management offices, the company also has public finance, institutional fixed income and institutional equity research offices located in Nashville, Tenn., and Knoxville, Tenn.