Program Aimed at Growing Diversity in Private Wealth Management Sector, Increasing Investment in Next-Gen Talent
MILWAUKEE, Sept. 7, 2021 – Baird, an employee-owned, international wealth management firm, today announced a second phase of support for the Wisconsin School of Business (WSB) at the University of Wisconsin–Madison by establishing “Baird Scholars,” a new scholarship program offered by the firm’s Private Wealth Management business.
In its inaugural year, Baird Scholars is offering four-year financial scholarships to 10 students from underrepresented populations across the country. The program aims to prepare them for a profession in wealth management, a historically white and male-dominated career path. Added benefits for the recipients include a summer internship within Baird’s Private Wealth Management business, an established relationship with a Baird mentor, financial assistance with student housing during the summer internship and the opportunity to study and sit for the Securities Industries Essentials (SIE) Exam.
“I am thrilled to unveil the Baird Scholars program and to extend our support to these 10 students of excellence,” said Mike Schroeder, President of Baird's Private Wealth Management business. “Our firm’s investment in the education of future talent at the state’s premier institution for wealth management instruction comes at a critical time for our industry and further demonstrates Baird’s commitment to developing the next generation of exceptional financial advisors.”
“By getting in front of historically underrepresented groups early in their undergraduate career, we hope to increase their exposure and awareness of available opportunities in the wealth management industry,” said Ashley Price, Diversity and Recruiting Manager for Baird’s Private Wealth Management business. “At Baird, we see the importance of these educational investments to ensure students of all racial, ethnic and socioeconomic backgrounds have equal access to this curriculum. We believe that the best advice comes from diverse, multi-generational teams of financial advisors, and this program is an early investment in talent to help us continue to add talent in support of our clients.”
The partnership between Baird and WSB began in 2014. The demand for highly trained financial advisors was rapidly rising across the industry, and Baird reached out to WSB to develop a course of study that would prepare undergraduate business students for a future career in the field of wealth management. Most recently, in April 2021, Baird announced their ongoing commitment to partner with WSB via establishing the “Baird Professorship in Finance.” This professorship was awarded to Mark Fedenia (BBA '77, MS '79, PhD '87), the current director of WSB’s wealth management program. He also serves as an associate professor in the Department of Finance, Investment and Banking.
The WSB has long-standing leadership in finance education and is committed to enrolling and supporting a diverse student body that reflects the national and global business environment our students will work in.
“We want all students to feel a sense of belonging and support in the school,” said Jim Franzone, assistant dean of WSB’s undergraduate program.
This Fall, in addition to scholarship support through partners like Baird, WSB will offer an inclusive leadership badge for undergraduate students, open a multicultural center that lifts the voices of underrepresented students and launch Career Forward, a program that ensures all students have the information and preparation to land their first internships and dream career.
Headquartered in Milwaukee, Wis., Baird's Private Wealth Management business encompasses more than 1,300 financial advisors serving clients from over 160 locations in 33 states and has client assets of more than $239 billion. To learn more about Baird’s commitment to Inclusion & Diversity, click here.
Putting clients first since 1919, Baird is an employee-owned, international wealth management, asset management, investment banking/capital markets, and private equity firm with offices in the United States, Europe and Asia. Baird has approximately 4,600 associates serving the needs of individual, corporate, institutional and municipal clients and more than $355 billion in client assets as of December 31, 2020. Committed to being a great workplace, Baird ranked No. 32 on the 2021 Fortune 100 Best Companies to Work For® list. Baird is the marketing name of Baird Financial Group. Baird’s principal operating subsidiaries are Robert W. Baird & Co. Incorporated in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s website at www.rwbaird.com.
About the Wisconsin School of Business
The Wisconsin School of Business at the University of Wisconsin–Madison is a world-renowned institution committed to leading the future of business by connecting and empowering a dynamic community of lifelong learners, scholars, and organizations. Established in 1900, the school was one of the first five business programs in the nation. Today, it proudly educates students from all walks of life with its top-ranked undergraduate, masters, MBA, PhD, and professional development programs. For more information, visit business.wisc.edu.
For additional information, contact:
Baird Public Relations