Brown Advisory Securities

Brown Advisory is employee-owned through a partnership model. Unlike bank-affiliated wealth managers, the firm does not distribute proprietary products or operate under a publicly traded parent company's earnings pressure. Investment decisions are made by the same partners who own the business, aligning portfolio construction with client outcomes rather than product-shelf revenue targets.

Brown Advisory runs both direct co-investment vehicles and limited partnership structures for private equity. The firm's private equity group, led by David Churchill, targets direct investments in growth-stage and buyout companies, while also offering access to externally managed funds. This hybrid approach allows clients to avoid the full double-fee layer common in fund-of-funds models.

The firm operates dedicated strategies across private equity, private credit, real estate, and hedge fund allocations. Real estate exposure includes mission-critical property types such as data centers. The credit platform focuses on middle-market direct lending, while hedge fund exposure is structured through managed portfolios of external managers rather than a single multi-strategy fund.

Mike Hankin serves as President and CEO with ultimate oversight of the firm's investment platform. David Churchill leads the private equity group and is the named decision-maker for direct private investments. The partnership structure means senior investment professionals hold equity in the firm, tying individual compensation to long-term client portfolio performance rather than transaction fees.

Yes, Brown Advisory runs a philanthropic advisory practice that operates alongside its investment platform. The firm advises clients on donor-advised funds, foundation structuring, and charitable trust vehicles. This practice is advisory only — Brown Advisory does not manage a separate 501(c)(3) foundation, which keeps philanthropic decision-making with the client families rather than internal trust committees.