Christ almighty, if you thought the first two pieces on Baird Financial Group were a gut-punch, buckle up, you gullible bastards. In our first installment, we ripped the lid off their smug Milwaukee empire, exposing the fee-gouging, supervisory cock-ups, ethical shortcuts, and that filthy Cummins shareholder link where “integrity” means bugger all if profits are flowing. Part two ramped it up, slamming their hidden messages, mutual fund rebate rip-offs, Reg BI breaches, poaching wars, and near-disqualification that showed just how close these pricks came to the regulatory guillotine. Traffic went through the bloody roof – clearly, we’re striking a chord with everyone sick of these corporate vampires. But here’s the kicker: there’s so much festering scandal in Baird’s closet, we couldn’t cram it into even two articles. These wankers have a history of violations stretching back years, all buried under settlements and PR spin. We’re talking more supervision failures that let client funds get siphoned, fee overcharges hitting charities and retirees, back-office blunders risking billions, and hidden conflicts screwing investors blind. Grounded in regulator slaps and firm admissions, this third hit-piece proves Baird’s not just greedy – they’re a habitual offender, treating fines like parking tickets while your cash evaporates. Time to get furious and demand the bastards answer for it all.

Supervisory Sloppiness Lets Client Funds Get Pilfered – Again

Start with the 2015 bollocks, where Baird’s oversight was about as effective as a chocolate teapot. FINRA nailed them for failing to supervise a rep who nicked $370,000 from a customer through dodgy wire transfers. Red flags waving everywhere, but Baird’s procedures were too piss-poor to spot it, letting the theft drag on. They reimbursed the victim and ate a $500,000 fine plus censure, but bloody hell – this is your “trustworthy steward” at work? Echoing the supervision lapses we hammered in our first piece, it’s more proof Baird’s systems are built to ignore misconduct until the regulators crash the party. Clients left vulnerable, funds vanishing, all because these arrogant cunts prioritise operations over basic bloody safeguards. Outrageous – how many more got stung before they “fixed” it? This isn’t a one-off; it’s Baird’s rotten DNA, where employee-owned means owning up to fuck-all.

Fee-Gouging Hits the Vulnerable: Mutual Fund Waiver Screw-Ups

By April 2016, Baird was at it again, violating FINRA rules by not applying sales charge waivers on mutual funds for eligible punters like retirement plans and charities. Thousands overpaid because their compliance was a joke – advisors left to guess, no proper checks in place. They self-reported after an internal scrub, coughing up $2.1 million in restitution with interest, plus a censure. Charities, for fuck’s sake? These bastards couldn’t even spare non-profits from their greed-grab, letting overcharges slip through cracks they should’ve sealed years ago. Ties right back to the fee-based bollocks in our first article – Baird’s playbook is bleed ’em dry, apologise later. Clients shelling out needless cash while Baird hoards billions? My piss is boiling; this is predatory shite, preying on those who can least afford it. No wonder complaints pile up – they’re not accidents, they’re the system working as intended.

More Oversight Rot: Fund Misuse and Trade Error Havoc

Jump to July 2016, and FINRA’s dishing another $200,000 fine for supervisory failures that let an advisor misuse customer funds and botch trade error corrections. Baird’s procedures? Vague as hell, opening doors to mishandling client assets. They reimbursed losses, took the censure, and promised overhauls, but come on – this after the 2015 theft? It’s a pattern of wilful blindness, where “employee-owned” translates to owning the profits but dodging the blame. Building on the trade supervision lapses from our earlier pieces, it’s clear Baird’s internal controls are a farce, designed to let the cash flow while risks mount. Investors treated like afterthoughts, their money at mercy of unchecked advisors. Fucking disgraceful – if this doesn’t scream systemic failure, what does? These pricks settle and move on, but the human cost lingers.

Back-Office Blunders: Violating Core Client Protections

September 2016 brought SEC heat for violating customer protection rules, failing to maintain control over fully paid and excess margin securities. Clients’ assets were exposed to needless risks because Baird couldn’t handle basic custody. They consented to a $200,000 penalty without admitting guilt, vowing better policies. But bollocks – with $355 billion under management, how do you fuck up the fundamentals? This reeks of the wrap fee screw-ups we exposed in part two, where monitoring was non-existent. Baird’s back-office is a ticking bomb, potentially endangering billions while they strut as middle America’s guardian. Outraged? You should be – your portfolio’s safety is optional in their world. Another slap on the wrist, another promise broken; it’s the Baird way, dodging real change while scandals stack.

Hidden Fee Conflicts: The Share Class Selection Sham

Fast-forward to March 2019, and the SEC’s Share Class Selection Disclosure Initiative catches Baird pushing higher-cost mutual fund shares with 12b-1 fees, without disclosing the conflicts. Advisors were lining their pockets at client expense, no transparency in sight. They self-reported, got a censure and cease-and-desist, plus restitution of ill-gotten fees with interest – no extra fine, thanks to the initiative. But don’t buy the “voluntary” spin; this is more hidden gouging, echoing the undisclosed conflicts from our first and second pieces. Clients overpaying silently while Baird’s “objective” advice is tainted by greed. Bloody hell, it’s criminal – treating investors like marks in a con game. This initiative exposed dozens, but Baird’s involvement proves their ethics are paper-thin, prioritising kickbacks over trust.

Arbitrary Overcharges: Unfair Equity Trade Commissions

By August 2022, FINRA’s slamming them for unfair $100 minimum commissions on thousands of retail equity trades – 7,277 hit, violating fair pricing. Even after tweaking procedures in 2020, the overcharges persisted. Baird paid $266,481 restitution plus interest, a $150,000 fine, and censure. Arbitrary fees inflating costs? It’s the reverse churning shite from our first piece all over again, nickel-and-diming retail punters who trusted them. Proof that fines don’t change a damn thing – Baird keeps extracting, regulators keep slapping. Furious doesn’t cover it; these bastards budget for violations, viewing clients as ATMs. The cycle spins on, accountability a joke.

The Endless Cycle: Why Baird’s Rot Runs Deep

Here’s the gut-wrencher: Baird admits these as “material” in their own disclosures, yet the scandals never stop. Consultants hired, procedures “overhauled,” fines paid as peanuts against their empire – it’s all theatre. Tying back to our Cummins connection, Baird enables filth while embodying it, propping up dodgy outfits with the same alternative ethics. If parts one and two got you mad, this should have you raging: pull your funds, expose the cunts, break the cycle. Enough’s enough – Baird’s one stubborn fucking skidmark that won’t wipe away – until we finally force it.

Lee Thompson – Founder, The Cummins Accountability Project

Shareholder Spotlight : Baird Financial Group Part 3 – The Skidmark Won’t Wipe Away