Baird absorbs Peninsular Securities

Robert W. Baird & Co. has added The Peninsular Securities Co. of Grand Rapids to its Private Wealth Management business.

Peninsular Securities, founded in 1935, is represented by a core team of veteran financial advisors including Robert P. VanderWal, Donald G. Karpinski, CPA, and Timothy N. Boersma, CFP. VanderWal joined the firm in 1959, while Karpinski and Boersma have been with the firm since 1982.

Peninsular Securities (formerly Hudson White & Co.) manages more than $350 million in assets and is believed to be the oldest locally owned brokerage firm in the Grand Rapids area.

The addition of Peninsular Securities' six financial advisors increases the size of Baird's Bridge Street office in Grand Rapids, its largest in Michigan, to 41 employees.

“We are thrilled to welcome Robert, Don, Tim and the entire group to Baird,” said Rob Peel, Branch Manager of Baird’s Grand Rapids branch. “The team has earned the loyalty and trust of their clients by providing prudent financial advice and exceptional service, which is very compatible with Baird’s client-focused culture.”

Baird added more than 100 financial advisors to its Private Wealth Management Group in 2009; that group now has more than 650 financial advisors throughout the U.S.

Baird, an employee-owned, international financial services firm established in 1919, has 2,400 employees and is ranked number 11 on Fortune's “100 Best Companies to Work For” in 2010. Its principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Robert W. Baird & Co. is based in Milwaukee.