Wealth management firm Hefren-Tillotson to join Baird

Wealth management firm Hefren-Tillotson Inc. is joining Baird in a deal expected to close in June.

Hefren-Tillotson is anticipated to be fully integrated into Baird by October. The company has over $18 billion in client assets and offers investment and retirement plan management, financial planning and other services, according to a Jan. 24 news release.

Hefren-Tillotson Chairman and CEO Kim Tillotson Fleming, Vice Chairman Craig Tillotson and President Don Belt will continue their roles through the merger and work with Baird's private wealth management leadership team to ensure a smooth transition, according to the news release.

After completion of the merger, Tillotson Fleming will serve as a vice chair of Baird and will become a member of the firm's executive committee. Tillotson will work as managing director and branch manager, and Belt will become managing director and director of operations and integration. Tillotson Fleming and Tillotson will also continue to work as financial advisers.

The terms of the deal were not disclosed.

Baird is the marketing name of Baird Financial Group Inc.