For each and every client, we commit to bringing to bear the resources of our entire firm to help them get to wherever it is they want to go. Each client’s “where” is different, so the solution we develop to help them get there will be different—no two client relationships look exactly the same. Likewise, no client relationship remains static: Often, there are multigenerational priorities with objectives and needs that evolve over time.
Performance
INVESTMENT PHILOSOPHY
We overlay our highly customized approach on top of a deeply grounded investment philosophy. Our philosophy is characterized by:
Deep fundamental research. We believe in the power of deep fundamental research on companies, industries, properties and assets—and that this in-depth analysis into the value and quality of assets positions us to generate outperformance of broad markets over time.
Quality bias. We believe that investing in high-quality securities and managers will help us compound our clients’ assets at higher rates over time while also driving long-term capital preservation. When investing in equities, for example, we look for management team quality, balance sheet quality, profitability and free cash flow, market positioning and culture.
Patience and the power of compounding. The most dangerous enemy of performance is our human instincts—the impulses of greed and fear. Perhaps the greatest asset we have as investors is time, and the greatest attribute is patience, particularly when paired with conviction. We focus on making long-term decisions, and we will often make fewer of them than our peers.
Concentration and conviction. In both our internal and external investment strategies, we believe we can generate better outcomes by investing in a shorter list of higher-conviction investments that we know thoroughly. We strive to set a high bar for any investment that makes it into a portfolio. Our deep work on each investment lays the groundwork for maintaining our conviction during challenging times and for sticking with and even adding to our holdings. This conviction leads to a willingness to take contrarian views.
Intellectual flexibility and a willingness to learn. While we believe in the power of active management, not every client will have 100% active investment strategies in their portfolio—sensitivity to fees, liquidity, taxes and volatility may dictate otherwise. That is part of the customization.
Independence and flexibility.With increasing industry consolidation and generational transitions, clients value the stability of our private and independent structure more than ever. We believe our team’s commitment and comfort to build portfolios across the investment landscape—spanning multiple asset classes from private investments to public securities—combined with a sharp awareness of external dynamics, aims to give clients confidence in our expertise. Flexibility isn’t an afterthought; it’s a core strength that allows us to meet complex needs in a changing world.
While we are dedicated to the idea that certain elements of investing are impervious to time, many of the ways in which we practice investing are changing by the day. As investors, we must constantly evolve for the benefit of our clients.
Investment Solutions Group (ISG) quarterly meeting in the New York office.
Our Investment Solutions Group (ISG) uses rigorous fundamental analysis to analyze and monitor external managers across geographies and asset classes.
With more than 100 managers on its “recommended” list—gleaned from more than 1,000 assessments annually—the ISG team’s exactitude helps ensure that clients end up with best-in-class solutions across the entire public market asset spectrum in their portfolios.
Strategic Advice
We built our firm around the idea that an investment program is most helpful when integrated with broader strategic advice and first-class service.
For private clients, our strategic advisors serve as thinking partners, helping to optimize tax, estate, generational, philanthropic and business planning—taking into account each family’s situation and values. Their expertise extends to matters related to sustainable and impact investing, next-gen education, business and compensation structure and asset protection strategies. Our clients find comfort in our broad and strategic expertise, which allows us to navigate these areas with clarity and confidence. Often, this means helping clients think through complex challenges, develop frameworks to make decisions and build a vision for what their future could look like. Clients report that the partnerships with their Brown Advisory teams, built over years and sometimes decades, frequently develop into profound and meaningful relationships.
Bridget Fitzgerald and Ariel Fortunato, Strategic Advisors.
Sandi Moffet and Craig Standish, Co-Heads of Strategic Advisory.
Brown Advisory has always taken an unconventional, client-centered approach to trust administration. Through the Brown Investment Advisory & Trust Company and the Brown Advisory Trust Company of Delaware, we strive to meet our fiduciary obligations and exceed our clients’ expectations by providing thoughtful, transparent, creative, progressive, and responsive trust services—and access to the State of Delaware’s sophisticated trust legislation, specialized courts, and advantageous tax regime.
Our Fiduciary Services Group supports the Strategic Advisory and Client Service teams by facilitating trust administration and providing additional expertise in trust & estate law, wealth transfer and fiduciary income taxation, and fiduciary governance. This collaborative team approach lets us harness decades of experience and deep expertise across many fiduciary disciplines to benefit every trust under our administration.
Mia Carides, CPA, Relationship Advisor & Austin Operating Officer.
Mikey Ostendorff, Private Client Relationship Associate, Lily Andersson, Private Client Senior Relationship Associate, Olivia Chan, Private Client Senior Relationship Advisor.
Client Service
Our client service professionals are the backbone of each client team. They are typically clients’ first call when they have questions, concerns or news to share. They are a group that includes lawyers, MBAs, CFAs, CAIAs, Masters of Taxation, Masters of Trust and Wealth Management, Certified Financial Planners, and Certified Trust and Fiduciary Advisors. This translates to technical expertise in investments, fiduciary oversight, trust management, estate administration, tax compliance, compensation plans, philanthropy, portfolio analysis and the attention to detail and execution that clients need and deserve.
Individual client teams—made up of portfolio management, strategic advisory and service professionals—can come from anywhere across the firm. Geography and proximity to the client is certainly important but more critical is the alignment of expertise to the need, with the goal of building meaningful, long-term partnerships.