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Baird is acquiring rival firm Hilliard Lyons, swelling its wealth management ranks by about 44% or 380 advisors, and expanding its presence in the Southeast, according to the firm.
"Joining forces will accelerate the success of both firms and the success of our clients," Baird Chairman Paul Purcell said in a statement.
The deal includes both Hilliard Lyons brokerage and Hilliard Lyons Trust Co. The company has more than $50 billion in client assets and had more than $280 million in revenue as of Sept. 30, 2018, according to Baird. Terms of the deal were not...