Baird Private Wealth Management has lured a million-dollar team from Morgan Stanley Smith Barney to join its Scottsdale, Arizona, office, according to media reports.

Baird said Russ Guard and Jacob Duffy oversaw $150 million in client assets at Morgan Stanley Smith Barney and generated more than $1 million in fees and commissions, a report by Reuters, for example, said.

Guard has spent nearly 24 years as a financial advisor, starting out in 1986 with Merrill Lynch, now a division of Bank of America. He has spent the past 15 years with Smith Barney, according to FINRA filings.

Duffy has spent the past five years at Smith Barney.

Baird, an employee-owned company based in Milwaukee, has two offices in the Phoenix-Scottsdale market.