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Michael Lee Karels

CFP®
ROBERT W. BAIRD & CO.
EDINA, MN
·CRD# 3260727·27 years experience

Professional Summary

Michael Lee Karels, CFP®, who also goes by Michael Karels, is a registered financial advisor currently at ROBERT W. BAIRD & CO. INCORPORATED located in Edina, Minnesota. Michael is registered as an IAR (Investment Advisor Representative) and RR (Registered Representative) and started their career in finance in 1999. Michael has worked at 5 firms and has passed the Series 66, Series 63, SIE and Series 7 exams.

At a Glance

Advisory Accounts Only

Fiduciary Standard

Fee Structure

Account Minimum

Active Clients

Fiduciary Standard

Fee Structure

Account Minimum

Active Clients

Other Aliases

Michael Karels

Blog Corner

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Videos & Posts

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Contact Information

This advisor has not claimed their profile yet, so there is no contact information to display at this time.

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Disclosures are events reported to regulators, such as customer disputes, regulatory actions, employment separations, or financial events. Some are resolved, denied, or contested — a disclosure is not a verdict. We recommend asking an advisor directly about any disclosure on their record.

Disclosures on record.

Disclosures can be potential red flags, including customer disputes, regulatory fines, employer terminations, bankruptcies, judgments, liens, or certain criminal activities. Check for any disclosures as part of your thorough research when choosing an advisor.

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Credentials

CFP®
Certified Financial PlannerSince 2006

Years of Experience

27 years in the financial services industry

Current & Past Employments

ROBERT W. BAIRD & CO. INCORPORATED·CRD# 8158
RIA
BD
7650 Edinborough Way Suite 300, Edina, MN 55435
June 18, 2026 - Present
ROBERT W. BAIRD & CO. INCORPORATED·CRD# 8158
RIA
BD
7650 Edinborough Way Suite 300, Edina, MN 55435
June 18, 2026 - Present
RBC CAPITAL MARKETS, LLC·CRD# 31194
RIA
Minneapolis, MN
February 11, 2009 - June 24, 2026
RBC CAPITAL MARKETS, LLC·CRD# 31194
BD
Minneapolis, MN
February 11, 2009 - June 24, 2026
UBS FINANCIAL SERVICES INC.·CRD# 8174
RIA
Minneapolis, MN
February 12, 2007 - March 3, 2009
UBS FINANCIAL SERVICES INC.·CRD# 8174
BD
Minneapolis, MN
August 12, 2006 - March 3, 2009
PIPER SANDLER & CO.·CRD# 665
BD
Minneapolis, MN
June 9, 2000 - August 12, 2006
CETERA INVESTMENT SERVICES LLC·CRD# 15340
BD
St. Cloud, MN
August 24, 1999 - May 15, 2000

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Current Firm

ROBERT W. BAIRD & CO. INCORPORATED
ROBERT W. BAIRD & CO. INCORPORATED

BAIRD | THE DDK GROUP | ROBERT W. BAIRD & CO. INCORPORATED | CHAUTAUQUA CAPITAL MANAGEMENT | BAIRD PRIVATE WEALTH MANAGEMENT | BAIRD PRIVATE ASSET MANAGEMENT | BAIRD INSTITUTIONAL EQUITIES & RESEARCH | BAIRD GENERATIONAL WEALTH GROUP | BAIRD EQUITY ASSET MANAGEMENT | BAIRD ADVISORS

CRD#: 8158 / SEC#: 801-7571, 8-497
RIA
Registered Investment Advisory firm - SEC (7/14/1971 Approved)
BD
Broker-Dealer Firm Regulated by FINRA (Chicago district office)

Contact Information

Main Address

777 E. Wisconsin Avenue, Milwaukee, WI 53202-5391

Mailing Address

P.o. Box 672, Milwaukee, WI 53201

Phone Number

(414) 765-3500

Established

Wisconsin since 12/29/1919

Firm Type

Corporation

Fiscal Year End

December

Firm Size

Large

# of Employees

4,322

SEC notice filing (53 States and Territories)

Registered to provide investment advisory services in 53 US states and territories.

FINRA licenses (53 States and Territories)

Registered to provide investment advisory services in 53 US states and territories.

Documents

Customer Relationship Summary (CRS / SEC)Customer Relationship Summary (CRS / FINRA)Latest Form ADV

Part 2 Brochures

BAIRD PRIVATE ASSET MANAGEMENT - WRAP (3/27/2026)

Direct owners and executive officers

NamePositionCRD#
BAIRD FINANCIAL CORPORATIONSHAREHOLDER—
BOOTH, STEVEN GREGORYCHAIRMAN, PRESIDENT, CHIEF EXECUTIVE OFFICER2147388
DAHLBERG, ERIK CHARLESDIRECTOR1650544
GRAVERSON, CHRISTA LYNNCHIEF COMPLIANCE OFFICER4912961
LANGENFELD, JON ACHIEF FINANCIAL OFFICER4322120
LAWTON, PATRICK STEVENDIRECTOR1007318
PALMER, ANGELA MARIEREGISTERED INVESTMENT ADVISOR CCO4915568
SCHROEDER, MICHAEL JOHNDIRECTOR1483012
SCHULTZ, PAUL LEEGENERAL COUNSEL, SECRETARY1965163
STANEK, MARY ELLENDIRECTOR2006493
THUROW, LAURA KCHIEF OPERATIONS OFFICER3193702

Regulatory Assets Under Management

Total Number of Accounts

367,123

AUM (Assets Under Management)

$394,068,801,480

Disclosures

Regulatory Event

44

Arbitration

31

Accountant Surprise Examination Report

Filing DateForm ADV-E CoverForm ADV-E Report
12/23/2025Cover PageReport
10/24/2024Cover PageReport
11/15/2023Cover PageReport

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Other business activities

Information obtained from regulatory filings. Advisors can request corrections through their firm or regulator.

Outside business activity is any business or activity undertaken by an advisor that is outside the scope of their relationship with their firm (e.g., consulting services, real estate, freelance work, teaching, etc.). Investors should stay informed about these activities to ensure no conflicts of interest.

(1) Name of Entity - Duplex purchase for rental Address - 11421/11425 Osage St NW, Coon Rapids, MN Business Description - Duplex purchase for rental Business is not investment related Projected Start Date: 08/22/2019 Capacity: Owner - Active, Owner - Passive Duties Performed: Will initially be the landlord but will look to outsource this to a Renter's Warehouse or something similar fairly quickly. Hours Devoted to this OBA per Month: 1 to 2 Hours Hours Devoted to this OBA during business hours: 1
(2) NAME OF ENTITY: MKSN Partnership; ADDRESS: Personal Residence; NOT INVESTMENT RELATED; BUSINESS DESCRIPTION: Partnership - intended for real estate flips; CAPACITY: Owner-Passive; START DATE: 12/2019; DUTIES: Decisions in regards to purchase or properties and sell offers, paying bills on the properties (taxes, insurance, utilities, improvements on the properties), keeping the books on the properties and filing the taxes; HOURS DEVOTED PER MONTH: Less than 1 hr, may be up to 2 or 3 hrs during short periods if needed; HOURS DEVOTED DURING SECURITIES HOURS PER MONTH: 0; 3) NAME OF ENTITY: Northern Clay Center ADDRESS: 2424 E Franklin Ave, Minneapolis, Minnesota, 55406 INVESTMENT/NOT INVESTMENT RELATED: No BUSINESS DESCRIPTION: Foundation/Charitable Institution START DATE:23/09/2024 CAPACITY: Treasurer, Board of Directors DUTIES: Board member: duties collectively for the board (3 year terms), Setting general policy and direction for the overall management of the org as well as general fiscal mgmt, Hiring and evaluating the director. Treasurer: requested to start April 15th 2025: Overseeing the organization's financial administration, including managing everyday financial activities, reviewing and enforcing financial policies and procedures, generating financial reports, creating a budget, advising the board on financial strategy and fundraising, Reviewing plans and budgets from the director, Evaluating over-all organizational effectiveness, Bringing human and financial resources to the aid of the organization, Participating in public program activities including attending exhibition openings and special events, Being an advocate to the public for NCC, Being a positive working member of the board HOURS DEVOTED PER MONTH: 0 - 4 Hours HOURS DEVOTED DURING SECURITIES HOURS PER MONTH: 0 - 4 Hours

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Primary Firm SEC Registration

This SEC-registered firm can serve clients nationwide. Some states may require the firm to submit a notice filing if the firm has more than 5 clients or a physical office there. You can view these state-level filings under the section titled "State Registrations and Notice Filings".
ROBERT W. BAIRD & CO. INCORPORATED
ROBERT W. BAIRD & CO. INCORPORATED

BAIRD | THE DDK GROUP | ROBERT W. BAIRD & CO. INCORPORATED | CHAUTAUQUA CAPITAL MANAGEMENT | BAIRD PRIVATE WEALTH MANAGEMENT | BAIRD PRIVATE ASSET MANAGEMENT | BAIRD INSTITUTIONAL EQUITIES & RESEARCH | BAIRD GENERATIONAL WEALTH GROUP | BAIRD EQUITY ASSET MANAGEMENT | BAIRD ADVISORS

CRD#: 8158 / SEC#: 801-7571, 8-497
RIA
Registered Investment Advisory firm - SEC (7/14/1971 Approved)
BD
Broker-Dealer Firm Regulated by FINRA (Chicago district office)

State Registrations and Notice Filings

Listed states reflect where the advisor is authorized to serve clients under state regulations.
IAR
means the advisor is registered as an Investment Advisor Representative in this state and is authorized to provide investment advice to clients there.
RR
indicates the advisor is registered as a Registered Representative in this state, allowing securities offerings such as stocks, bonds, and mutual funds through a broker-dealer.
RR
Arizona
(7/9/2026)
RR
Arkansas
(6/18/2026)
RR
California
(6/18/2026)
RR
Colorado
(6/18/2026)
RR
Connecticut
(6/18/2026)
RR
Delaware
(6/25/2026)
RR
District of Columbia
(6/18/2026)
RR
Florida
(6/18/2026)
IAR
Florida
(7/29/2026)
RR
Georgia
(6/18/2026)
RR
Hawaii
(7/8/2026)
RR
Idaho
(6/18/2026)
RR
Illinois
(6/18/2026)
RR
Iowa
(6/18/2026)
RR
Kansas
(6/18/2026)
RR
Louisiana
(6/18/2026)
RR
Maine
(6/25/2026)
RR
Maryland
(6/18/2026)
RR
Massachusetts
(6/22/2026)
RR
Michigan
(6/18/2026)
IAR
Minnesota
(6/18/2026)
RR
Minnesota
(6/25/2026)
RR
Montana
(6/18/2026)
RR
Nebraska
(6/18/2026)
RR
Nevada
(6/18/2026)
RR
New Hampshire
(6/18/2026)
RR
New Jersey
(6/18/2026)
RR
New Mexico
(6/18/2026)
RR
New York
(6/18/2026)
RR
North Carolina
(6/18/2026)
RR
North Dakota
(6/18/2026)
RR
Ohio
(6/18/2026)
RR
Oklahoma
(6/29/2026)
RR
Oregon
(6/18/2026)
RR
Pennsylvania
(6/18/2026)
RR
South Carolina
(6/18/2026)
RR
South Dakota
(6/25/2026)
RR
Tennessee
(6/18/2026)
RR
Texas
(6/18/2026)
IAR
Texas
(6/18/2026)
RR
Vermont
(6/18/2026)
RR
Virginia
(6/18/2026)
RR
Washington
(6/18/2026)
RR
Wisconsin
(6/18/2026)

Don't see your state listed? The advisor may still be able to work with you under the federal De Minimis Rule, which allows up to five investment advisory clients in a state without registration. Some states, like TX, LA, NE, and NH, may still require registration or notice filing. Contact the advisor or their firm to confirm their investment advisory availability in your state.Note:This rule does not apply to broker-dealer activity.

Exams

Financial professionals may take different exams throughout their careers based on the types of services they provide and roles they perform.

Series 66 — Uniform Combined State Law Examination

Passed Nov 2003About the Series 66 exam

Series 63 — Uniform Securities Agent State Law Examination

Passed Aug 1999About the Series 63 exam

SIE — Securities Industry Essentials Examination

Passed Oct 2018About the SIE exam

Series 7 — General Securities Representative Examination

Passed Aug 1999About the Series 7 exam
FINRA
SRO Registrations
NYSE American LLC
SRO Registrations
Nasdaq Stock Market
SRO Registrations
New York Stock Exchange
SRO Registrations

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CRS (Client Relationship Summary) - RIA

Click below to view Michael Lee Karels's CRS (Customer Relationship Summary).

CRS (Customer Relationship Summary)

CRS (Client Relationship Summary) - BD

Click below to view Michael Lee Karels's CRS (Customer Relationship Summary).

CRS (Customer Relationship Summary)

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