Brown Advisory

Investment Management Servicesbrownadvisory.com

Brown Advisory is an independent, colleague-owned investment management and strategic advisory firm managing approximately $173.5 billion across 20 global offices. It serves high-net-worth individuals, families, endowments, foundations, charities, and institutions with 40+ equity, fixed income, and multi-asset strategies.

Company typePrivate
Founded1998
HeadquartersBaltimore, United States
Headcount501–1,000
GTM typeB2B and B2C
OfferingServices

What Brown Advisory does

Brown Advisory is an independent, privately held investment management and strategic advisory firm headquartered in Baltimore, Maryland. Founded in 1998 by Michael D. Hankin, the firm is 100% owned by its full-time colleagues (1,000+ employees) and manages approximately $173.5 billion in assets under management as of Q1 2026 across 20 offices in the US, UK, Europe, the Middle East, and Asia-Pacific. The firm is co-led by Co-CEOs Mike Hankin and Logie Fitzwilliams, with a deep executive team including CIOs across equities, fixed income, and the endowments and foundations practice.

The firm operates an investment platform spanning 40+ strategies across equities (large-cap, mid-cap, small-cap, growth, value, sustainable, international, and global), fixed income (municipal, sustainable, intermediate, and global), and multi-asset solutions, distributed through separate managed accounts, mutual funds, UCITS funds, an ETF (International Value Select, ticker BAIV on Nasdaq), and a UK-listed investment trust. Its core technology is described as an investment management platform with sustainable investing research tools integrated across the platform, supported by in-house CIO leadership (Paul Chew as Chief Investment Officer). The firm also offers OCIO (Outsourced Chief Investment Officer) services for endowments and foundations, and tailored investment and strategic advisory for private clients, family offices, charities, and institutional investors.

Brown Advisory generates revenue primarily through recurring management fees on AUM, supplemented by strategic advisory fees for customized portfolio management. Pricing is not publicly disclosed but is structured as a percentage of AUM, varying by strategy, asset level, and client type. The firm reaches clients through a direct sales motion via its 20 global offices, complemented by distribution through RIAs, wealth managers, and institutional consultants. Sub-brands include Brown Advisory Funds (mutual funds distributed by ALPS Distributors) and Brown Advisory ETFs (distributed by SEI Investments Distribution Co.), with the NOW (Navigating Our World) podcast and annual conferences serving as a thought leadership platform. Strategic moves in 2026 include a partnership with RockCreek Group (announced May 2026), the launch of the International Value Select ETF (February 2026), a UCITS version of the US Small-Cap Fundamental Value strategy (May 2026), and the appointment of Nick Kirrage from Schroders to lead new value strategies.

Brown Advisory firmographics

Firmographics

Name: Brown Advisory
Legal name: Brown Advisory Incorporated
Website: https://brownadvisory.com
Company type: Private
Founded year: 1998
Operating status: Operating
Headcount range: 501–1,000 employees
Short description: Brown Advisory is an independent, colleague-owned investment management and strategic advisory firm managing approximately $173.5 billion across 20 global offices. It serves high-net-worth individuals, families, endowments, foundations, charities, and institutions with 40+ equity, fixed income, and multi-asset strategies.
Ownership category
akta.pro rank

Brown Advisory industry classification

Industry

Product category: Investment Management Services
NAICS: Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (52591)
SIC: Investment Advice (6282)
akta.pro primary industry: Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)
akta.pro secondary industries: ESG/Sustainable Investment Advisory (FSAEAAAJ), Private Banking Philanthropy & Impact Advisory (FSABADAJ)

Keywords

Investment management
Wealth advisory services
Endowment management
OCIO services
Sustainable investing

Where Brown Advisory is headquartered

Location

Headquarters

HQ city: Baltimore
HQ country: United States
HQ region: North America

Offices20 records

Markets served

Brown Advisory business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

Investment Management Fees: Brown Advisory generates revenue through management fees on assets under management across its various equity and fixed income strategies for institutional and private clients.
Strategic Advisory Services: The firm provides tailored investment and strategic advisory services to individuals, families, endowments, foundations, and charities, generating advisory fees for customized portfolio management.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Brown Advisory product offering

Product offering

Core offering

Brown Advisory is an independent, employee-owned investment management and strategic advisory firm that manages approximately $173.5 billion in assets through a global platform of equity, fixed income, and multi-asset strategies. The firm serves private clients, families, endowments, foundations, charities, and institutional investors with portfolio management, Outsourced Chief Investment Officer (OCIO) services, and tailored strategic advisory. Distribution is delivered through 20 offices in the US, UK, Europe, Middle East, and Asia-Pacific, complemented by mutual funds, ETFs, UCITS vehicles, and a London-listed investment trust.

Product overview

Brown Advisory is an independent investment management firm offering a comprehensive platform of investment strategies and advisory services. The firm provides over 40 distinct investment strategies across equities (including growth, value, sustainable, and international approaches across all market caps), fixed income (municipal, sustainable, and core strategies), and multi-asset solutions. The firm also offers OCIO (Outsourced CIO) services for endowments and foundations, strategic advisory services for individuals and families, and manages a family of UCITS funds for non-US investors. Key strategies include Global Leaders, Large-Cap Growth, Mid-Cap Growth, Small-Cap strategies, Tax-Exempt Municipal Bonds, and the newly launched Global Value Select and International Value Select strategies. The International Value Select ETF (ticker: BAIV) trades on Nasdaq, making the firm one of the few traditional asset managers to offer both mutual funds and ETFs under the same value investment umbrella.

Differentiator

Problem solved

Functional benefit

Brands

Brown Advisory Funds: A series of mutual funds distributed by ALPS Distributors, Inc.
Brown Advisory ETFs
NOW (Navigating Our World)

Products and services

Equity Strategies
Fixed Income Strategies
Multi-Asset Strategies
OCIO (Outsourced Chief Investment Officer) Services
Investment and Strategic Advisory
UCITS Funds Platform
Brown Advisory US Smaller Companies PLC (Investment Trust)
Brown Advisory Funds (Mutual Funds)
Brown Advisory ETFs

Companies that use Brown Advisory

Customer profile

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Brown Advisory technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Brown Advisory partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

RockCreek GroupmajorStrategic or Co-development Partner · 1 May 2026Strategic partnership between Brown Advisory and RockCreek Group, expected to close around May 1, 2026. Both firms will continue operating independently. Brown Advisory manages approximately $173.5 billion in assets while RockCreek oversees about $18.3 billion, including $14.2 billion managed on a discretionary basis. The agreement reflects continued consolidation and partnership activity in the investment management and OCIO space.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Brown Advisory competitors and assessment

Company assessment

Direct peers

T. Rowe Price: Baltimore-based, large independent investment manager with overlapping equity, fixed income, and multi-asset strategies serving institutional and retail clients. Highly comparable in scale, geographic footprint, and active management orientation, though T. Rowe Price is publicly listed.
Bessemer Trust: Privately held wealth and investment management firm focused exclusively on HNW and ultra-HNW families and their foundations. Comparable in independence, client orientation (private clients and endowments/foundations), and OCIO-style discretionary offerings.
Wilmington Trust (M&T Bank): Wealth management and investment services firm serving HNW individuals, families, and institutions, now part of M&T Bank. Comparable in private client and institutional investment management offerings, with overlap in OCIO and advisory services.
Cambridge Associates: Privately held investment advisor and OCIO provider serving endowments, foundations, and HNW families with manager research, asset allocation, and discretionary portfolios. Closely comparable in E&F OCIO focus and client segments, though more research-led than portfolio-management-led.
Brown Brothers Harriman: Independently owned private bank and investment manager serving HNW families, endowments, and foundations with a similar collegial partnership culture and integrated investment management and advisory offering. Closely comparable in structure, ownership, and client mix.
Glenmede: Independent, employee-owned investment and wealth management firm serving HNW families, endowments, foundations, and charities. Directly comparable in ownership structure, client mix, and strategic advisory / OCIO capabilities, and now a direct competitor for E&F talent.

Broad incumbents

Russell Investments: Global multi-asset manager and OCIO provider serving institutional clients, with strong endowment and foundation relationships. Comparable in OCIO and multi-asset solutions, though larger and more multi-manager-focused than Brown Advisory's primarily internally managed approach.
Northern Trust: Large public asset manager and wealth manager offering investment management, custody, and OCIO services to institutional and HNW clients. Overlaps significantly with Brown Advisory's institutional, endowment, and private client businesses but operates at greater scale and breadth.
Nuveen: Large asset manager (TIAA subsidiary) with deep institutional and endowment client base, plus growing private wealth and alternatives capabilities. Overlaps with Brown Advisory's institutional and OCIO segments and is a likely consolidator in the space.

Emerging players

Marquette Associates: Independent investment consulting and OCIO firm specializing in endowment, foundation, and nonprofit clients. Highly comparable to Brown Advisory's E&F practice in target market and OCIO focus, though smaller in AUM and more consulting-oriented.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Brown Advisory financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Brown Advisory leadership team

Management profile

Number of profiles

Profiles20 records

Brown Advisory subsidiaries and ownership

Company hierarchy

Subsidiaries4 records

Brown Advisory funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Brown Advisory M&A and investment

M&A and investment

M&A3 records

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Brown Advisory

What does Brown Advisory do?

Is Brown Advisory a public or private company?

Brown Advisory is a private company. It is classified as management employee owned and is currently operating.

When was Brown Advisory founded?

Brown Advisory was founded in 1998. It employs 501 to 1,000 people.

Where is Brown Advisory based?

Brown Advisory is headquartered in Baltimore, United States, in the North America region.

How does Brown Advisory make money?

Two revenue lines are on record. Investment Management Fees are the primary driver. The others are strategic Advisory Services.

Who are Brown Advisory's main competitors?

Direct peers on record are T. Rowe Price, Bessemer Trust, Wilmington Trust (M&T Bank), Cambridge Associates, Brown Brothers Harriman and Glenmede. Broad incumbents are Russell Investments, Northern Trust and Nuveen. Marquette Associates is listed as an emerging player.

Does Brown Advisory have an API?

No public API is recorded for Brown Advisory.

What industry is Brown Advisory in?

Brown Advisory's product category is Investment Management Services. Its primary akta.pro industry code is FSAAABAD, Advisory Portfolio Management (Non-Discretionary), with a secondary code of FSAEAAAJ, ESG/Sustainable Investment Advisory. Its NAICS code is 523940 and its SIC code is 6282.