{
  "crd_number": 8158,
  "slug": "robert-w-baird-and-co-incorporated-milwaukee-wi-8158",
  "primary_business_name": "ROBERT W. BAIRD & CO. INCORPORATED",
  "legal_name": "ROBERT W. BAIRD & CO. INCORPORATED",
  "dbas": [
    "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"
  ],
  "city": "Milwaukee",
  "state": "WI",
  "country": "United States",
  "cbsa_code": "33340",
  "metro": {
    "cbsa_code": "33340",
    "common_name": "Milwaukee",
    "msa_name": "Milwaukee-Waukesha, WI",
    "path": "/advisors/wi/milwaukee"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1971-07-14",
  "years_registered": 55,
  "period": "2026-10-01",
  "filing_date": "2026-09-01",
  "carried_forward": false,
  "raum_total": 394068801480.0,
  "raum_discretionary": 289489829877.0,
  "raum_non_discretionary": 104578971603.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 4322,
  "advisory_employees": 3170,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 3732918281.0,
      "count": 21,
      "description": "TAFT HARTLEY, UNION PENSION PLANS"
    },
    "charitable": {
      "raum": 7656769608.0,
      "count": 1433
    },
    "individuals": {
      "raum": 33330262618.0,
      "count": 153711
    },
    "banking_thrift": {
      "raum": 492410484.0,
      "count": 18
    },
    "state_municipal": {
      "raum": 8182270345.0,
      "count": 76
    },
    "insurance_companies": {
      "raum": 8779996535.0,
      "count": 22
    },
    "investment_companies": {
      "raum": 157926067259.0,
      "count": 18
    },
    "pension_profit_sharing": {
      "raum": 17818005450.0,
      "count": 1709
    },
    "other_investment_advisers": {
      "raum": 480391971.0,
      "count": 254
    },
    "high_net_worth_individuals": {
      "raum": 135033059436.0,
      "count": 82420
    },
    "pooled_investment_vehicles": {
      "raum": 1251541376.0,
      "count": 8
    },
    "corporations_other_businesses": {
      "raum": 19385108117.0,
      "count": 1669
    }
  },
  "compensation_types": [
    "commissions",
    "fixed",
    "hourly",
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "educational_seminars",
    "financial_planning",
    "other",
    "pension_consulting",
    "periodicals_newsletters",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 8,
  "states_registered": [
    "AK",
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "HI",
    "IA",
    "ID",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "MO",
    "MS",
    "MT",
    "NC",
    "ND",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "PR",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VI",
    "VT",
    "WA",
    "WI",
    "WV",
    "WY"
  ],
  "websites": [
    "https://facebook.com/robertwbairdandcompany",
    "https://instagram.com/rwbaird",
    "https://linkedin.com/company/baird-capital",
    "https://linkedin.com/company/baird-trust-company",
    "https://linkedin.com/company/chautauqua-capital-management",
    "https://linkedin.com/company/robert-w-baird-&-co",
    "https://linkedin.com/showcase/baird-fixed-income-capital-markets",
    "https://linkedin.com/showcase/baird-global-investment-banking",
    "https://pinterest.com/rw_baird",
    "https://rwbaird.com",
    "https://twitter.com/bairdcareers",
    "https://twitter.com/bairdconference",
    "https://twitter.com/bullandbaird",
    "https://twitter.com/rwbaird",
    "https://vimeo.com/rwbaird",
    "https://youtube.com/channel/UCwm9gV1X4s1GNi0jzSe4VgQ"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/8158",
  "disclosure_items": [
    {
      "item": "11.B(1)",
      "question": "In the past ten years, has the firm or an advisory affiliate been convicted of, or pleaded guilty or no contest to, a misdemeanor involving investments or an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these?"
    },
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    },
    {
      "item": "11.E(4)",
      "question": "Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?"
    },
    {
      "item": "11.F",
      "question": "Has an authorization to act as an attorney, accountant, or federal contractor granted to the firm or an advisory affiliate ever been revoked or suspended?"
    }
  ],
  "city_as_filed": "MILWAUKEE",
  "url": "https://advisorcensus.com/firm/robert-w-baird-and-co-incorporated-milwaukee-wi-8158",
  "display_name": "Robert W. Baird & Co. Incorporated",
  "summary": "Robert W. Baird & Co. Incorporated is an SEC-registered investment advisory firm in Milwaukee, WI, registered since 1971, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 1, 2026.",
  "citation": "AdvisorCensus. Robert W. Baird & Co. Incorporated (CRD 8158): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)",
    "Commissions",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services",
    "Selection of other advisers (including private fund managers)",
    "Publication of periodicals or newsletters",
    "Educational seminars/workshops",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Robert W. Baird & Co. Incorporated compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Robert W. Baird & Co. Incorporated reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); commissions; performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Robert W. Baird & Co. Incorporated located?",
      "a": "Robert W. Baird & Co. Incorporated's principal office is in Milwaukee, WI, according to its Form ADV; the October 2026 filing also lists 25 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Robert W. Baird & Co. Incorporated registered with the SEC or a state?",
      "a": "Robert W. Baird & Co. Incorporated is an SEC-registered investment advisory firm, registered since 1971. Status as filed: Approved. CRD 8158."
    },
    {
      "q": "How much does Robert W. Baird & Co. Incorporated manage?",
      "a": "Robert W. Baird & Co. Incorporated reports $394,068,801,480 in regulatory assets under management in its Form ADV filing dated September 1, 2026 (73% discretionary)."
    },
    {
      "q": "How have Robert W. Baird & Co. Incorporated's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Robert W. Baird & Co. Incorporated: Regulatory assets under management: $231,509,343,978 in the October 2021 data and $394,068,801,480 in the October 2026 data, up 70%. Total employees: 3,604 in October 2021 and 4,322 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Robert W. Baird & Co. Incorporated serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (153,711); high net worth individuals (82,420); pension and profit sharing plans (but not the plan participants or government pension plans) (1,709)."
    },
    {
      "q": "Which custodians does Robert W. Baird & Co. Incorporated use?",
      "a": "Robert W. Baird & Co. Incorporated's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Robert W. Baird & Co. Incorporated (affiliated with the firm) as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Robert W. Baird & Co. Incorporated report any disciplinary disclosures?",
      "a": "Reports 8 disclosure items on Form ADV Item 11: yes answers to 1 question about criminal matters and 7 questions about regulatory matters (11.B(1), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.E(2), 11.E(4), 11.F). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/8158"
    },
    {
      "q": "What changed in Robert W. Baird & Co. Incorporated's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 231509343978.0,
      "total_employees": 3604,
      "filing_date": "2021-09-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 275840179207.0,
      "total_employees": 3744,
      "filing_date": "2022-09-23"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 247790348025.0,
      "total_employees": 4071,
      "filing_date": "2023-07-12"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 287514955453.0,
      "total_employees": 4069,
      "filing_date": "2024-06-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 342142869924.0,
      "total_employees": 4175,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 394068801480.0,
      "total_employees": 4322,
      "filing_date": "2026-09-01"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Item 11 disclosure answers changed: 8 yes answers, previously 9 (now no: 11.D(1)).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 3047 to 3170.",
        "Regulatory assets under management went from $342,142,869,924 to $394,068,801,480 (+15%).",
        "Changed its office addresses in Seattle, WA.",
        "Added an office in Cincinnati, OH.",
        "Added an office in Houston - Memorial City, TX.",
        "No longer lists an office in Pittsburgh, PA."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Robert W. Baird & Co. Incorporated",
      "name_as_filed": "ROBERT W. BAIRD & CO. INCORPORATED",
      "affiliated": true
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/robert-w-baird-and-co-incorporated-milwaukee-wi-8158.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 153711,
      "fewer_than_5": false,
      "raum": 33330262618.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 82420,
      "fewer_than_5": false,
      "raum": 135033059436.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 18,
      "fewer_than_5": false,
      "raum": 492410484.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 18,
      "fewer_than_5": false,
      "raum": 157926067259.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 8,
      "fewer_than_5": false,
      "raum": 1251541376.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 1709,
      "fewer_than_5": false,
      "raum": 17818005450.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1433,
      "fewer_than_5": false,
      "raum": 7656769608.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 76,
      "fewer_than_5": false,
      "raum": 8182270345.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 254,
      "fewer_than_5": false,
      "raum": 480391971.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 22,
      "fewer_than_5": false,
      "raum": 8779996535.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 1669,
      "fewer_than_5": false,
      "raum": 19385108117.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 21,
      "fewer_than_5": false,
      "raum": 3732918281.0
    }
  ],
  "disclosure_line": "Reports 8 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/8158",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}