At Baird Private Wealth Management, we believe that the task of managing wealth over generations begins not with investments but with questions. Answers to questions such as “What do you want your wealth to do for you?” and “How will you define success?” are essential for a truly personalized strategy. Because the day-to-day work of executing a long-term strategy is increasingly complex, Baird continues to make significant investments to ensure that our Financial Advisors have the resources, tools and technologies they need to chart a path and monitor progress toward their clients’ objectives.
Our wealth report, for example, provides same-day analysis of portfolio holdings, asset allocation and investment performance that facilitates conversations between Financial Advisors and clients. A new financial planning tool, which we rolled out in 2014, leverages the wealth report to provide comprehensive goal-based planning that helps families make informed decisions on retirement spending, wealth transfer, and tax and estate planning. During 2014, we also introduced a mobile app for Baird Online, which gives clients easy access to their online accounts.
Baird Financial Advisors are supported by a team of more than 85 highly skilled in-house specialists in areas such as investment research, retirement planning, and financial and estate planning. In addition to resources and tools like these, Baird’s 816 Financial Advisors bring an average of 20 years of industry experience to the work of creating sophisticated investment solutions. Some 37% of all Baird advisors hold designations in financial planning, asset management or specialties such as the Certified Private Wealth Advisor® program, and 72% of our Client Assistants have earned securities licenses to provide a higher level of client service. More than half of our Financial Advisors work on formal teams to bring complementary skills and, often, a range of ages to advising wealthy families whose assets may need to be managed across generations.
During 2014, Baird acquired McAdams Wright Ragen, which brought to Baird a strong team of Financial Advisors and complementary research capabilities. MWR is an excellent addition to Baird’s purposeful expansion in the Pacific Northwest. We are also growing internally by encouraging college students and young professionals to pursue a career in wealth management. In addition to our own two-year Foundations Program for college graduates and our Financial Advisor Training Program, we are partnering with the University of Wisconsin School of Business on a course for undergraduates.