Guides › Financial Advisor Fees
Updated October 3, 2026. Quick answer: Baird has the lower published fee at $500,000: $10,000 a year, versus up to $12,500 a year (the published maximum, which the firm says is negotiable) for Kestra (Kestra Private Wealth Services / Kestra Advisory Services), computed from each firm’s own SEC-filed fee disclosure. Where a firm publishes only a maximum rate, the figure shown is that maximum, and what you pay may be lower. See the full side-by-side table below for $250,000, $1 million and $2 million.
What each firm charges, side by side
| Account balance | Baird (annual fee) | Kestra (Kestra Private Wealth Services / Kestra Advisory Services) (annual fee) |
|---|---|---|
| $250,000 | $5,000 | Up to $6,250 |
| $500,000 | $10,000 | Up to $12,500 |
| $1,000,000 | $20,000 | Up to $25,000 |
| $2,000,000 | $35,000 | Up to $50,000 |
Baird discloses a tiered schedule starting at 2.00% (Baird Private Wealth Management Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, March 27, 2026); Kestra (Kestra Private Wealth Services / Kestra Advisory Services) discloses a published maximum rate of 2.5%, which the firm says is negotiable (Kestra Advisory Services, LLC Wrap Fee Program Brochure (Form ADV Part 2A, Appendix 1), August 20, 2026).
What the fee includes, in each firm’s own words
Baird (Baird Private Wealth Management Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, March 27, 2026): “Baird generally offers two types of asset-based fee arrangements: a tiered fee schedule and a breakpoint fee schedule. Under a tiered fee schedule, the asset-based fee will vary for different segments of client assets, gradually decreasing as the Account balance increases. Tiered Advice Fee Schedule: First $1,000,000, 2.00%; Next $1,000,000, 1.50%; Next $3,000,000, 1.35%; Next $5,000,000, 1.25%; Above $10,000,000, 1.00%.”
This is Baird’s marginal (tiered) Advice Fee schedule, which applies across essentially all of Baird’s Private Wealth Management discretionary/advisory programs; each bracket’s rate applies only to the assets inside that bracket. Baird also publishes an alternative whole-balance Breakpoint Advice Fee Schedule (2.00% up to $1M, 1.75% from $1M to just under $2M, 1.50% at $2M and above) that a client and advisor may choose instead; this page uses the tiered version, the one named first in the brochure. For programs that layer on a separate Portfolio Fee (0.00% for several core programs, roughly 0.10% to 0.77% or more for SMA/UMA strategies), the total cost can run higher than the Advice Fee alone.
Kestra (Kestra Private Wealth Services / Kestra Advisory Services) (Kestra Advisory Services, LLC Wrap Fee Program Brochure (Form ADV Part 2A, Appendix 1), August 20, 2026): “All fees are negotiable, subject to the maximum amount set forth below. FSP Fee Schedule Fee Type Assets Minimum Maximum Manager Fee $5,000+ 0.02% 0.45% Advisor Fee $5,000+ 0.00% 2.48% Client Fee $5,000+ 0.02% 2.50% … Client Fee is the sum of the Advisor Fee plus the Manager Fee. In instances where the maximum Advisor Fee plus the Manager Fee would exceed 2.5 percent, the Advisor fee is reduced so the Client Fee does not exceed 2.5 percent.” Fund Strategist Portfolios (FSP) Program, Client Fee (Advisor Fee + Manager Fee), $5,000+ accounts: 0.02% min, 2.50% max; Separately Managed Accounts (SMA) Program, Client Fee, $100,000+ accounts: 0.02% min, 2.50% max; Unified Managed Account (UMA) Program, Client Fee, $5,000+ accounts: 0.02% min, 2.50% max; APM-Wrap / most other AdvisorEnterprise programs, Maximum Client Fee: 2.50%; One passive/index-model program, Maximum Client Fee (lower cap): 1.50%.
Kestra’s advisory fee is entirely advisor-negotiated within a published floor/ceiling band; across its AdvisorEnterprise programs (FSP, SMA, UMA, APM-Wrap, etc.) the Client Fee ranges from about 0.02% up to a firm-wide Maximum Client Fee of 2.5% (one narrower passive-model program caps at 1.5%). The dollar figures on this page apply that 2.5% maximum to each balance, as the most a client could be charged. Kestra Advisory Services was used as the primary citation as the larger/parent RIA (formerly NFP Advisor Services).
How this compares
The median ria charges roughly 1.0% of assets under management annually (the benchmark). At $500,000, Baird runs $10,000 a year and Kestra (Kestra Private Wealth Services / Kestra Advisory Services) runs up to $12,500 a year (the published maximum): a difference of $2,500 a year between those figures at that balance.
Want the full breakdown for either firm on its own? Read the Baird fee page or the Kestra (Kestra Private Wealth Services / Kestra Advisory Services) fee page for the complete tier table and source citations.
Thinking about leaving one of these firms instead of pricing what you would pay to stay? See what it costs to leave Baird, or read the general mechanics of switching financial advisors.
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Answer againSources
- Baird Private Wealth Management Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1 (March 27, 2026): https://www.bairdwealth.com/retailinvestor
- SEC Investment Adviser Public Disclosure, Robert W. Baird & Co. Incorporated (CRD #8158): https://adviserinfo.sec.gov/firm/summary/8158
- Kestra Advisory Services, LLC Wrap Fee Program Brochure (Form ADV Part 2A, Appendix 1) (August 20, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1055475
- SEC Investment Adviser Public Disclosure, Kestra Advisory Services, LLC (“Kestra AS”) (CRD #283330): https://adviserinfo.sec.gov/firm/summary/283330
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for Baird and Kestra (Kestra Private Wealth Services / Kestra Advisory Services) from each firm’s own SEC-filed disclosure; sources linked above. Nothing here is personalized financial, tax, legal, or investment advice. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.