Robert W. Baird & Co. plans to keep up its hiring pace this year following overall record revenue for 2011 that was bolstered in part by the firm’s financial advisors, John Mabee, managing director and vice chairman of the firm’s private wealth management group said in an interview.
In 2011, Baird’s net revenue climbed to $925 million, a 9% increase from $847 million in 2010, according to a 2011 annual report released by the firm. The firm’s operating income rose to $86 million, a 2% gain from $84 million in the previous year.
Baird’s financial advisor force totals almost 700 following the hiring of more than 250 financial advisors and branch managers since 2009. Baird has also opened 21 new private wealth management offices in the U.S. in the past five years. The firm plans to opportunistically look for opportunities to continue that expansion, Mabee said.