Anyone heard anything about Brown Advisory? (reputation, niche, etc)
Would love to hear your thoughts, WSO. Thanks!
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Hey Associate 1 in IB-M&A, I'm the WSO Monkey Bot and I'm here since nobody responded to your topic! Bummer...could just be unlucky but one of these topics will help shed some light:
More suggestions...
Hope that helps.
I like them a lot. Long only with a big asset base, located in Baltimore. They are pretty long-term oriented.
I think they lean toward growth-oriented strategy. They are more legit than T Rowe (TROW wildly rumored to be "closet indexer") IMO.
Surprised at this sentiment toward T. Rowe. Care to expand, or is this just from looking at the number of holdings in some of the portfolios?
Just widely rumored like I said. Heard similar things about Neuberger Berman, I used to be on sell-side, clients share scoops. When 10+ ppl say the same thing, I think that's credible enough.
Nothing wrong, Trowe still around, big asset base, I am sure tons of very exceptional investors, but just "too big to succeed".
Number of holdings + number of different strategies. In aggregate they end up owning everything like a vanguard or state street and there is no house view or strategy. They are structured to grab assets, hug a benchmark, and eat AUM fees and not for outperformance. That isn't to say they people that work there aren't trying to outperform and not qualified to be there (I would gladly take a T Rowe seat for the brand quality), but as a business the emphasis isn't on performance.
Appreciate the thoughts. Based on the size and number of different strategies, shouldn’t they be judged on individual fund, strategy, or PM performance as opposed to looking at the firm in aggregate? Obviously if you look at holdings across many different strategies/funds it won’t look very consistent. Not trying to bash your opinions or anything, just trying to understand how people in the industry view this. I’m assuming there is the same issue at places like Fidelity etc. where those at smaller, more focused LOs feel like the lack of a unifying philosophy across the funds is a downside?
Trowe has/had some great people that really generated alpha/value for their investors, but they have been leaving to start their own shops (Ellenbogen is a well-known example but there're others to my knowledge as well). From what I heard the culture has been changing for the worse, just like every other mega LOs out there facing fee pressure/outflow. On the other hand, Brown is a really great shop in terms of performance, can't speak for culture, but in general small shops like that have unique culture and you need to make sure it's a good fit for you because it won't be for everyone. (I think you know what I mean).
Kinda wish this didn’t turn into an argument about T Rowe but thanks to those who tried to talk about Brown Advisory
brown is one of the best small cap managers on the street. US fund has been closed to new investors for awhile. their int'l small cap team is absolutely on a tear this year.
edit: interesting office too if I recall, they all work out of one giant house.
Can anyone please comment on the pay at Brown?
I heard from someone in their UK office the pay is really low, but wondering if that's a UK issue or Brown US also underpays?
brown pays way above street in base pay...cause youre living in baltimore.
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