Robert W. Baird &: AUM & Ownership

Clients

Robert W. Baird & serves 241,359 clients, 82,420 of them high-net-worth individuals. The average client has about $1.6 million with the firm, and high-net-worth clients hold 34% of its $394.1 billion in assets.

Regulatory assets by client type

Individuals153,711 clients8%
High-net-worth individuals82,420 clients34%
Investment companies18 clients40%
Pension and profit-sharing plans1,709 clients5%
State or municipal government entities76 clients2%
OtherInsurance companies, Corporations and other businesses, Banking or thrift institutions, Pooled investment vehicles, Charitable organizations, Other investment advisers, Other11%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Individuals (other than HNW)	153,711	$33,330,262,618	8.5%	$217K
High-net-worth individuals	82,420	$135,033,059,436	34.3%	$1.64M
Banking or thrift institutions	18	$492,410,484	0.1%	$27.4M
Investment companies	18	$157,926,067,259	40.1%	$8.77B
Pooled investment vehicles	8	$1,251,541,376	0.3%	$156.4M
Pension and profit-sharing plans	1,709	$17,818,005,450	4.5%	$10.4M
Charitable organizations	1,433	$7,656,769,608	1.9%	$5.34M
State or municipal government entities	76	$8,182,270,345	2.1%	$107.7M
Other investment advisers	254	$480,391,971	0.1%	$1.89M
Insurance companies	22	$8,779,996,535	2.2%	$399.1M
Corporations and other businesses	1,669	$19,385,108,117	4.9%	$11.6M
Other	21	$3,732,918,281	0.9%	$177.8M
Total	241,359	$394,068,801,480	100%	$1.63M

Individuals (other than HNW)

Clients: 153,711
Regulatory AUM: $33,330,262,618
Share: 8.5%
Avg. per client: $217K

High-net-worth individuals

Clients: 82,420
Regulatory AUM: $135,033,059,436
Share: 34.3%
Avg. per client: $1.64M

Banking or thrift institutions

Clients: 18
Regulatory AUM: $492,410,484
Share: 0.1%
Avg. per client: $27.4M

Investment companies

Clients: 18
Regulatory AUM: $157,926,067,259
Share: 40.1%
Avg. per client: $8.77B

Pooled investment vehicles

Clients: 8
Regulatory AUM: $1,251,541,376
Share: 0.3%
Avg. per client: $156.4M

Pension and profit-sharing plans

Clients: 1,709
Regulatory AUM: $17,818,005,450
Share: 4.5%
Avg. per client: $10.4M

Charitable organizations

Clients: 1,433
Regulatory AUM: $7,656,769,608
Share: 1.9%
Avg. per client: $5.34M

State or municipal government entities

Clients: 76
Regulatory AUM: $8,182,270,345
Share: 2.1%
Avg. per client: $107.7M

Other investment advisers

Clients: 254
Regulatory AUM: $480,391,971
Share: 0.1%
Avg. per client: $1.89M

Insurance companies

Clients: 22
Regulatory AUM: $8,779,996,535
Share: 2.2%
Avg. per client: $399.1M

Corporations and other businesses

Clients: 1,669
Regulatory AUM: $19,385,108,117
Share: 4.9%
Avg. per client: $11.6M

Other

Clients: 21
Regulatory AUM: $3,732,918,281
Share: 0.9%
Avg. per client: $177.8M

Total

Clients: 241,359
Regulatory AUM: $394,068,801,480
Share: 100%
Avg. per client: $1.63M

What it does

Robert W. Baird & provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, educational seminars and other activities. It is paid through a percentage of assets, hourly charges, fixed fees, commissions, performance-based fees and other arrangements.

Robert W. Baird & provided financial planning to 500 clients last fiscal year and advises 3 private funds.

73.5% of assets ($289.49B across 216,498 accounts) are managed with discretion; $104.58B across 150,625 accounts are not. $180.20B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 19,985 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Stocks31%
- Exchange-traded equities30%
- Non-exchange-traded equities1%
Funds46%
Bonds18%
- U.S. government and agency bonds7%
- Investment grade corporate bonds7%
- State and local bonds4%
Cash3%
Other2%
- The assets generally include asset-backed and mortgage-backed securities.2%

Custodians

Robert W. Baird &’s client accounts are held mainly at Robert W. Baird &, with 46% of managed assets. Robert W. Baird & has custody of $212.77B for 240,134 clients.

Managed account assets by custodian

Robert W. Baird &Robert W. Baird & Co. Incorporated · Milwaukee, WI · $181.14B46%
All other custodians$212.93B54%

Ownership and leadership

Baird Financial Corporation owns 75% or more of Robert W. Baird &, and Steven Booth is its CEO.

Who owns the firm

Robert W. Baird & Co. Incorporated· the adviser

Baird Financial Corporation
Control person · since December 1982
Owns 75% or more of Robert W. Baird & Co. Incorporated
- Baird Financial Group, Inc.
  Control person · since December 2020
  Owns 75% or more of Baird Financial Corporation

Leadership

Steven Booth
Chairman, President, Chief Executive Officer
Jon Langenfeld
Chief Financial Officer
Christa Lynn Graverson
Chief Compliance Officer
Erik Charles Dahlberg
Director
Patrick Steven Lawton
Director
Angela Palmer
Registered Investment Advisor CCO
Michael Schroeder
Director
Paul Schultz
General Counsel, Secretary
Mary Ellen Stanek
Director
Laura K Thurow
Chief Operations Officer

Staff

4,322 employees
3,170 in advisory functions
2,509 state-registered reps
3,426 broker-dealer reps
1,588 insurance agents
20 soliciting firms

Fees

Robert W. Baird & is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees), commissions, performance-based fees and other.

Robert W. Baird &’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Robert W. Baird & has 209 offices, with 27 listed addresses across 16 states.

Listed office addresses by state

Wisconsin · 5 listed addresses

777 E. Wisconsin Avenue, MilwaukeeHQ
One Riverwood Place, Waukesha
8000 Excelsior Drive, Madison
12075 N. Corporate Parkway, Mequon
440 S. Washington Street, Green Bay

Other business names

Robert W. Baird & has reported 9 other business names to the SEC.

Baird
Baird Advisors
Baird Equity Asset Management
Baird Generational Wealth Group
Baird Institutional Equities & Research
Baird Private Asset Management
Baird Private Wealth Management
Chautauqua Capital Management
The DDK Group

Registration details

Legal name: Robert W. Baird & Co. Incorporated
Headquarters: 777 E. Wisconsin Avenue, Milwaukee, WI 53202-5391
Phone: 414-765-3500
Website: Not reported
SEC file: 801-7571
Structure: Wisconsin corporation
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Robert W. Baird & have?

Robert W. Baird & has 241,359 clients and manages $394.1 billion for them, as of September 2026. They include 153,711 other individuals, 82,420 high-net-worth individuals and 1,709 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 1 September 2026

What services does Robert W. Baird & offer?

Robert W. Baird & provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, educational seminars and other activities.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Robert W. Baird & use?

Robert W. Baird &’s separately managed account assets are held at Robert W. Baird & Co. Incorporated (Milwaukee, WI), with $181,140,962,366. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 1 September 2026

How many financial advisors does Robert W. Baird & have?

Robert W. Baird & has 2,509 investment adviser representatives registered with state securities authorities, out of 4,322 employees, and 3,170 perform investment advisory functions. 3,426 are registered representatives of a broker-dealer and 1,588 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Robert W. Baird & invest in?

At the end of its last fiscal year, Robert W. Baird &’s separately managed accounts held 46% registered funds (mutual funds, ETFs, BDCs), 30% exchange-traded equities, 7% U.S. government and agency bonds, 7% investment grade corporate bonds, 4% state and local bonds, 3% cash and equivalents, 2% the assets generally include asset-backed and mortgage-backed securities. and 1% non-exchange-traded equities. It advises 3 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Robert W. Baird &?

Robert W. Baird & is owned through a holding company by Baird Financial Group, Inc. Its direct owner is Baird Financial Corporation (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 1 September 2026

How does Robert W. Baird & get paid?

Robert W. Baird & is paid through a percentage of assets under management, hourly charges, fixed fees, commissions, performance-based fees and other arrangements.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file