A team led by a father-and-son duo overseeing $1.4 billion at Baird Wealth Management has departed the regional firm to join nascent RIA Xcelsior Advisor Partners.\u00a0<\/p>\n
Stanley M. and Todd M. Reeg joined Xcelsior on Friday and work from offices in Davenport, Iowa, and Scottsdale, Arizona, respectively, according to Xcelsior Director of Branch Development Max Rathman. The group, which includes another junior advisor and three support staff, had generated $9 million in revenue and ranked among the top producers at Baird, Rathman said.\u00a0<\/p>\n
Xcelsior has added six practices since it was launched in early 2025 by Co-Chief Executives Mark A. Peterson and Matthew S. Curley. Peterson and Curley each spent more than 17 years at Baird, where they held regional leadership roles.<\/p>\n
Five of those practices have come from Baird, according to Peterson and Rathman, who said they expect Xcelsior will have around $3 billion in assets by the end of the summer as more funds transfer from earlier moves.\u00a0<\/p>\n
\u201cThese people are all coming because of Mark,\u201d Rathman said. \u201cThey love him, they trust him and they want to come if he tells them this is better. It\u2019s that kind of relationship.\u201d<\/p>\n
A Baird spokesperson did not immediately respond to request for comment.<\/p>\n
Baird has around 1,400 advisors managing around $565 billion in assets, according to its latest annual report. <\/p>\n
Xcelsior is owned by Peterson, Curley, a private investor and friends and family who contributed capital. It offers equity to advisors and provides upfront bonuses to compensate for stock or deferred pay that advisors must forfeit.\u00a0<\/p>\n
The RIA has affiliated with an independent broker-dealer, Simplicity, for those who want to maintain commission accounts and custodies with Charles Schwab and Fidelity Investments.<\/p>\n
The Reegs have worked together for more than 25 years. The elder Reeg began his brokerage career in 1985 at Dain Bosworth, joined Wells Fargo predecessor A.G. Edwards in 1995 and moved to Baird in 2014. Todd Reeg started at A.G. Edwards in 1999.<\/p>\n