Baird promoted two executives in a bid to meet rising client demands for more robust financial planning.

"Now more than ever, our high-net-worth clients are looking to us to help them filter through the noise and deliver customized advice they can trust," Mike Schroeder, president of Baird’s Private Wealth Management group, said in a statement.

Baird promoted industry veteran Timothy Steffen to the newly created role of director of advanced planning.

Baird executive Timothy Steffen has moved into to the newly created role of director of advanced planning for the firm's private wealth management business, the company says. Scott Grenier, meanwhile, has been promoted to manager of financial and estate planning.

"The creation of a director of advanced planning role capitalizes on the strength of Baird's team of in-house experts who have a specialized focus on financial and estate planning, and work closely with our financial advisers," said Laura Thurow, director of the firm's wealth solutions group. "Refining the team’s structure positions us to do an even better job of helping our clients plan for and meet their goals."

Steffen, in his new role, will help educate and train Baird's roughly 875 advisers about the firm's wealth management planning strategies, the firm says. He has been with Baird since 1999. He had served as Baird's director of financial planning since 2011, according to the firm.

Grenier, previously a senior estate planner, is now responsible for a team of financial and estate planners at Baird. He has been with the Milwaukee-based company since 2010. Prior to Baird, he worked at Clearly Gull as a relationship manager, advising clients on financial and estate planning as well as portfolio management.

Established in 1919, Baird has $171 billion in client assets, according to the company.