The shop’s top advisors get help catering to the planning needs of wealthy clients. Piper Jaffray has created a wealth management group to help in-house advisors cater to affluent investors with “sophisticated wealth management needs,” according to the Minneapolis-based brokerage.

“We want our clients to have peace of mind when it comes to managing, preserving and transferring the wealth they have worked so hard to obtain,’ says Bill Garrison, director of the new wealth group. “Our goal is to help our clients live the way they envision and help them develop a plan that reflects their personal values and financial goals.”

The nine-member wealth group will provide education and training as well as client-facing support to Piper brokers who clients require high-end services such as estate planning and philanthropic counseling.

Garrison says the aging of the baby boom generation is a major impetus to the creation of the wealth group. “Over the coming decades, baby boomers will increasingly shift their focus from accumulating wealth to preserving and transferring wealth,” he says. “As they make this transition, they are seeking comprehensive wealth management advice.” –FWR