Baird Adds Morgan Stanley Adviser -- Street Moves

    By Michael Wursthorn 
 

A Morgan Stanley financial adviser managing more than $200 million in client money has joined Baird Private Wealth Management, a unit of Robert W. Baird & Co.

Robert Gorman, a financial adviser for 33 years, has moved his practice to Baird's Columbus, Ohio, branch, where he will work to transition the roughly $210 million in client assets he managed. He generated around $1 million in fees and commissions annually.

A Morgan Stanley spokeswoman confirmed Mr. Gorman's departure but declined to comment further.

Mr. Gorman had joined Morgan Stanley by way of its acquisition of Smith Barney from Citigroup Inc. in 2009. He had worked at Smith Barney since 1990. Prior to that, he had spent seven years at Prudential Securities.

In addition to hiring Mr. Gorman, the Milwaukee-based brokerage also said it recruited UBS AG wealth adviser Eric Pronovost as a branch manager in Portland, Maine.

Baird's wealth management unit has more than 800 advisers managing more than $100 billion in client assets.

(Street Moves chronicles the migration of executives on Wall Street, with a particular emphasis on financial advisers with more than $1 million in annual production and those who manage more than $100 million in client assets. Michael Wursthorn can be reached at 212-416-2218 or at [e-mail].)

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