The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Baird, Reinhart
Baird Financial Corporation, parent of Baird, has made a “significant minority” investment into Reinhart Partners, an investment management firm. 

Baird said this investment is part of its “strategy of making long-term minority investments in independent financial services firms where Baird can provide unique solutions and benefits to the firm’s stakeholders.”

Reinhart will remain an independent, employee-owned investment manager upon closing. Founder, chairman and CEO Jim Reinhart will retain a “meaningful minority interest” and continue as an active board member.

The transaction is expected to close in the fourth quarter, subject to customary approvals.