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Baird to acquire M. Griffith Investment Services

M. Griffith Investment Services Inc., a New Hartford, N.Y.-based independent and employee-owned investment company, has agreed to join Baird.

M. Griffith offers financial planning, investment management and other services. The company's team of more than 40 employees includes 12 financial advisers who manage more than $2 billion in client assets.

Terms of the deal were not disclosed. The transaction is subject to customary regulatory approvals.

Upon closing, M. Griffith President David Griffith will serve as vice chairman of private wealth management.

Baird's principal operating subsidiaries are Robert W. Baird & Co. Inc. in the U.S. and Robert W. Baird Group Ltd. in Europe.