Baird Wealth Management: what do you need to know?
Find out about the investment strategies and fees that make Baird Wealth Management a popular choice for investors.
Summary
Baird Wealth Management fees follow a tiered and breakpoint fee structure, with fees ranging from between 1.50% and 2.00% of assets under management (AUM).
Clients can open an account by scheduling a meeting with a financial advisor.
Baird Wealth Management’s minimum investment requirements range from $5,000 to $1 million.
Unbiased will match you with a financial advisor who can help you manage your finances and achieve your investment goals.
Baird Wealth Management: about the company
Baird Wealth Management is a prominent financial advisory firm that operates as part of Robert W. Baird & Co. Incorporated, founded in 1919.
Headquartered in Milwaukee, Baird has grown to manage over $290 billion in assets for individual clients, families, businesses, and institutions.
It is employee-owned, allowing the firm to focus on long-term client relationships without the pressures of public shareholders.
What services does Baird Wealth Management offer?
Baird Wealth Management provides an extensive suite of services to support individual clients and institutional investors.
These services include investment and portfolio management, offering a range of assets such as mutual funds, ETFs, equities, and alternative investments.
Baird also specializes in financial planning, covering areas like retirement, estate, and tax planning, as well as education savings. The firm also assists with charitable giving strategies, such as establishing family foundations or creating charitable trusts.
What is Baird Wealth Management’s investment philosophy?
Baird Wealth Management takes a client-centered approach to investing.
The firm begins by working with an investment advisor to assess each client’s risk tolerance, liquidity needs, and financial goals through a detailed questionnaire.
This information is then used to craft a personalized investment strategy, choosing from various asset classes such as equity securities, fixed-income securities, alternative investments, and non-traditional assets like commodities or currencies.
The firm’s strategies focus on diversification across asset classes to balance growth and risk.
What is Baird Wealth Management’s pricing and fee structure?
According to Baird’s Wrap Fee Program Advisory Fee and Account Minimum Disclosure, Baird Wealth Management fees are structured around both tiered and breakpoint fee arrangements for its Unified Advice Fee Arrangement.
Clients typically pay an asset-based fee that varies depending on their account size.
For example, the fee is 2% for assets up to $1 million, 1.75% for the next million, and 1.50% for amounts over $2 million.
Additionally, portfolio fees apply based on the investment strategy, with equity SMAs ranging from 0.20% to 0.75%.
Is Baird Wealth Management trustworthy?
Baird Wealth Management has built a strong reputation for integrity and trust.
The firm is a fiduciary, meaning it is legally obligated to act in the best interests of its clients. However, like many large institutions, Baird has several disclosures on its SEC-filed Form ADV, including some regulatory matters.
According to an SEC press release in September 2023, Baird paid a $15 million penalty to settle an SEC investigation related to record-keeping violations. While these issues were unrelated to client transactions, they reflect areas where the firm fell short of regulatory standards.
What are the pros and cons of Baird Wealth Management?
Baird Wealth Management reviews highlight the strengths and potential drawbacks of the firm's services, reflecting both its comprehensive offerings and the areas where some clients may face challenges.
Pros of Baird Wealth Management:
Comprehensive services: Baird offers a wide range of financial services, including portfolio management, financial planning, estate planning, and tax strategy.
Personalized approach: Each client’s financial plan is customized based on their unique circumstances, goals, and risk tolerance.
Employee-owned structure: This ensures that Baird’s advisors are focused on client success rather than corporate profits.
Competitive fees: The firm’s tiered fee structure makes it more affordable for higher-net-worth clients.
Cons of Baird Wealth Management:
High fees for smaller accounts: Clients with less than $1 million in assets may face higher Baird Wealth Management fees, starting at 2%.
Complex fee structure: The tiered and breakpoint fee models can be difficult for some clients to navigate.
Limited access for smaller investors: Some services and strategies have higher minimum requirements, potentially excluding those with smaller portfolios.
Disclosures: Though resolved, the $15 million SEC settlement for record-keeping violations may raise concerns for those seeking a spotless regulatory record.
How to open an account with Baird Wealth Management?
Opening an account with Baird Wealth Management is straightforward.
Clients can start by scheduling a meeting with a Baird financial advisor, either online or in person.
During the consultation, the advisor will assess the client’s financial situation, short—and long-term goals, and risk tolerance and recommend a personalized investment strategy.
Baird requires minimum investments that vary depending on the service. Some financial planning services have no minimum, while others may require as much as $1 million for customized investment strategies.
Get expert financial advice
Baird Wealth Management offers personalized financial services with a strong focus on client interests. While its comprehensive offerings and fiduciary approach are appealing, potential clients should carefully consider the fee structures and minimum investment requirements.
If you’re looking for expert financial advice, let Unbiased match you with a suitable financial advisor to help you navigate your investments and secure your long-term financial success.
Writers
Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.