The Louisville-based wealth management firm Hilliard Lyons will be sold to a Wisconsin-based company.

Officials announced Tuesday that Hilliard Lyons, which has more than 70 offices in 11 states, is being acquired by the wealth management firm Baird.  The terms of the deal were not disclosed.

Baird operates nearly 100 offices in 30 states, plus locations in Europe and Asia.

In a statement, Hilliard Lyons says that its top leadership — Chairman and CEO Jim Allen, President Tom Kessinger and Executive Vice-President Alan Newman — will remain in their positions during the transition and take on new roles with Baird when the merger is complete.

“On every level, Baird is a great fit for our clients and for the Hilliard Lyons team,” Allen said in a press release. “We are especially pleased to return to our roots and rejoin an employee-owned firm. Baird’s culture, values and business model align seam­lessly with ours, and its reputation as a best place to work is unsurpassed in the industry.”

The company says the combined firm will have about 1,300 financial advisors and will continue to have a significant presence in Louisville.

The merger is expected to be completed in the second half of 2019.

Hilliard Lyons, founded in 1854, is one of the country’s oldest investment firms.



Rick Howlett is host of WFPL's weekly talk show, "In Conversation."