Welcome!

News Feed Item

McAdams Wright Ragen To Join Baird

Baird Continues Expansion into Pacific Northwest

MILWAUKEE, April 9, 2014 /PRNewswire/ -- Baird and McAdams Wright Ragen, Inc. (MWR) announced today that they have signed a definitive agreement for MWR to merge with Baird, an international, employee-owned wealth management, capital markets, private equity and asset management firm with more than $100 billion in client assets. MWR, a majority employee-owned investment firm headquartered in Seattle, offers investment advisory, brokerage, equity research, bond and equity trading, asset management, institutional sales, and investment banking through seven offices in the Pacific Northwest. Terms of the deal, which is subject to customary regulatory approvals, were not disclosed.

McAdams Wright Ragen has 180 employees including more than 85 financial advisors managing and overseeing over $10 billion in assets. Baird, which was established in 1919, has more than 2,900 associates including over 725 financial advisors, working from more than 100 locations in the U.S., Europe and Asia. Baird's current presence in the Pacific Northwest includes wealth management, public finance and fixed income institutional sales operations in Portland, Ore.

"McAdams Wright Ragen is a well-established and highly respected firm with a business model and client-focused culture that are very consistent with Baird's approach," said Paul E. Purcell, Baird Chairman & Chief Executive Officer. "We've known and respected the firm, which is led by Brooks Ragen, Chairman, and Scott McAdams, President and CEO, for a number of years. Taking this important step enables MWR to enhance the services and capabilities it offers its clients, and positions Baird to expand our current footprint in the Pacific Northwest. We couldn't be more pleased to welcome MWR to the Baird family."

"Baird embodies the same culture and values that have set our firm apart in the industry and been instrumental to our success," said Scott W. McAdams, President and CEO of McAdams Wright Ragen. "Baird's independent, employee-owned model and its deep expertise and capabilities, along with its commitment to being a great place to work and putting clients' needs above all else, make our decision to join forces the best next step for our business and our clients."

"McAdams Wright Ragen and its highly regarded advisors have done an exceptional job of earning the loyalty and trust of their clients by providing high-quality financial advice and service," said Michael J. Schroeder, President of Baird Private Wealth Management. "We are very excited to build on the deep relationships MWR has established and to continue our strategic expansion in the Pacific Northwest, a region that represents tremendous additional potential for our combined firms."

Baird's employee-owned model means it can plan for the long term. That longer-term perspective and Baird's strong, client-focused culture have enabled the firm to excel even in challenging environments. For instance, in the past five years, Baird opened 31 new business locations in the U.S. and abroad and increased employment 22% while employment in the U.S. securities industry decreased 2%. Additionally, Baird:

  • Has posted an operating profit for 136 consecutive quarters (34 years) and its stock value, including dividends, has grown nearly 220% since 2002;
  • Realized more than $1 billion in revenue in 2013, its fourth consecutive year of record revenue;
  • Has more than $100 billion in client assets;
  • Has been recognized as one of the FORTUNE 100 Best Companies to Work For® 11 consecutive years, breaking into the top 10 (no. 9) in 2014.

Baird's Private Wealth Management group has grown significantly in recent years. For instance, since the beginning of 2009 it has added more than 325 financial advisors and branch managers, the vast majority of whom are industry veterans. Baird has also opened wealth management offices in cities such as Portland, Maine; Charlotte, Raleigh and Winston-Salem, N.C.; Charleston, S.C.; Sarasota, Fla.; Sioux City, Iowa; Houston and Fort Worth, Texas; Denver; Salt Lake City; San Francisco; and Portland, Ore.

McAdams Wright Ragen was founded after a wave of consolidation in the late 1990s left few independent, regional financial services firms in the Northwest. Brooks Ragen and Scott McAdams set out to recreate the classic, partnership-like investment firm that had worked so well before, consisting of the traditional divisions in trading, retail, research, institutional, and corporate finance, but with strategic modifications to remain current and competitive. The firm opened its doors with eight people in 1999 and has grown steadily since. For instance, in 2010, MWR expanded considerably, increasing headcount by about 50 percent, and opening branches in Mount Vernon, Wash., in late 2010 and Anacortes, Wash., in January 2011. In May 2012, MWR opened its seventh office in Spokane, Wash. Like Baird, MWR has been consistently profitable, achieving record revenue each year it has been in business. In 2013, it had revenues of $48 million.

"McAdams Wright Ragen and Baird are remarkably similar in very important ways," said Brooks Ragen, Chairman of McAdams Wright Ragen. "With our reputation and capital on the line every day, we manage conservatively and are extraordinarily focused on how well we perform for our clients and on how we best serve them. Both organizations also have very strong traditions of giving back to our communities in a significant way."

MWR supports a variety of local causes including the arts, education, social services and community development, and its employees are active members in the philanthropic community. In addition, the firm manages accounts for more than 50 non-profits in the region, totaling in excess of $250 million.

Likewise, Baird has a long-standing tradition of giving back to the communities in which its associates live and work, both on a corporate and individual level. In 2013, Baird Foundation provided more than $2.9 million in support to charitable organizations. It also administers a firmwide Charitable Gift Matching Program that provides a match for associates' financial contributions to eligible nonprofit organizations. The "Baird Cares" program gives associates two additional paid days off each year to perform volunteer service. In 2013, more than 1,250 Baird associates and family members in more than 55 office locations participated in Baird Gives Back Week, a firmwide initiative to promote volunteerism.

About McAdams Wright Ragen, Inc.
McAdams Wright Ragen, Inc. is a majority employee-owned investment firm headquartered in the Pacific Northwest, with client assets of over $10 billion, including both brokerage and advisory assets. It serves individuals and their families, public and private companies, non-profit organizations, and institutional investors. The firm offers investment advisory, brokerage, equity research, bond and equity trading, asset management, institutional sales, and investment banking. The firm currently has six offices in Washington State (Anacortes, Bellevue, Mount Vernon, Seattle, Spokane and Yakima) and one in Portland, Ore. For more information, please visit MWR's Web site at www.mwrinc.com.

About Baird
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,900 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $100 billion in client assets. Committed to being a great place to work, Baird ranked No. 9 on FORTUNE's 100 Best Companies to Work For in 2014 – its 11th consecutive year on the list. Baird's principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird's investment banking and private equity operations. For more information, please visit Baird's Web site at www.rwbaird.com.

SOURCE Baird

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT depl...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, discussed how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He also discussed how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors an...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.