McAdams Wright Ragen Inc., an investment firm headquartered in Seattle with $10 billion in assets under management, is now a wholly owned subsidiary of Baird Financial Group, Baird announced.
The transaction was announced in April and closed Tuesday.
With the addition of McAdams Wright and Ragen’s 85 advisors and seven offices in the Pacific Northwest, Baird’s wealth management business now includes more than 800 financial advisors serving clients through more than 80 offices in 26 states.
Founded in the late 1990s, McAdams Wright Ragen has six offices in Washington and one in Portland, Ore. Baird now has $125 billion in client assets across its various businesses with more than 3,000 employees in more than 100 offices in the U.S., Europe and Asia.
“We initially elected to partner with Baird due to the perceived cultural similarities between our companies,” Scott W. McAdams, president and CEO of McAdams Wright Ragen, said in a prepared statement. “Over the past two months, as we have worked more closely with many Baird associates, we are even further convinced of the similarities in our cultures and values.”
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm.