Baird Private Wealth and Merrill Lynch both announced significant advisor hires on Monday, adding a combined $1.07 billion in client assets across three teams. The moves underscore ongoing competition among wirehouses and independent broker-dealers for experienced advisors, particularly those with multigenerational practices.
Baird Private Wealth welcomed The Kashian Karels Group to its Edina, Minnesota office. The four-person team—Darla J. Kashian, Michael L. Karels, Tanner Petroske, and Ann Hoen—previously managed more than $508 million in client assets at RBC Wealth Management. Their practice focuses on retirement planning for private clients and businesses, asset allocation, and lending solutions.
Kashian brings 22 years of industry experience, most recently as a senior vice president, financial advisor, and senior portfolio manager at RBC. Karels has 30 years in the business, with prior roles at UBS and Piper Jaffray before joining RBC, where he also held a senior vice president title. Petroske, with eight years of experience, served as an investment associate at RBC. Hoen was a registered broker at RBC Capital Markets from 2014 to 2019 and returned as an investment advisor in 2022 before moving to Baird, according to FINRA's BrokerCheck.
“We’re seeing continued momentum in Minnesota as experienced teams take a more intentional approach to where and how they build their business,” said Ally Shuman, Baird’s market director for the region. “Darla and Mike have a disciplined, client-focused practice, which aligns well with how we operate at Baird.”
Merrill Lynch added two father-son teams. Roy Savarick and his son Evan Savarick joined from Wells Fargo, bringing $280 million in client assets and annual production of $2.3 million. Evan is based in Merrill’s Park Avenue office in New York, led by Market Executive Joe Doonan, while Roy operates in the Florida Tropics market in Fort Lauderdale, under Market Executive Jason Edelmann. Roy has over 40 years of industry experience; Evan has 15.
Separately, Brandon Pribyl and his sons Tobey Pribyl and Bailey Pribyl joined Merrill Lynch in Davenport, Iowa, from Baird Private Wealth, also managing $280 million in client assets with $1.9 million in annual revenue. The trio are based in Merrill’s Davenport office, led by Resident Director Heidi Parkhurst, within the Mid Land Market under Market Executive Will Cohen. Brandon has more than 20 years in financial services; Tobey transitioned from engineering five years ago, and Bailey recently joined after earning an engineering degree and working in manufacturing.
These two hires push Merrill’s recent recruiting total past $1 billion in client assets over the past two weeks, including the addition of Steve Keller and Cole Keller. The trend of father-son advisory teams continues to gain traction, as firms seek to retain multigenerational wealth. Meanwhile, operational discipline remains a key driver for top advisory firms, according to recent research.
The moves reflect broader industry dynamics, as advisors increasingly choose platforms that align with their practice models. Baird’s independent broker-dealer model appeals to teams seeking autonomy, while Merrill’s wirehouse resources attract those wanting integrated support. The $124 trillion wealth transfer is accelerating demand for family-focused advisory services, making multigenerational teams particularly valuable.
