Just to recap on the Red Hand: yes, this is the badge of a baronet, but specifically a baronet of Ulster – baronetcies of this kind were originally created in connection with activities in the settlement of Protestants in that province of Ireland, whereas baronetcies of Nova Scotia involved the settlement of colonists on that Canadian island.
I believe the direct connection with Ulster fell away over time, but the Red Hand remained the badge of baronetcies other than those of Nova Scotia.
Bear in mind also that the rank of baronet is unique to the British Isles. It has no Continental equivalent, although it did have its roots in a misunderstanding by King James VI and I of the mediæval term knight banneret.
Regardless of the shortcomings of the Stodart system, it is a very effective way of identifying men of different branches of a family. The English equivalent (which exists more in theory than in practice) of combining the basic brisures in ever-decreasing size and grouped together, very quickly becomes impossible to follow.
Regards,
Mike