# Brown Advisory

> Brown Advisory is an SEC-registered investment advisory firm in Norfolk, VA, registered since 1994, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 106375
- Filed as: BROWN ADVISORY
- Legal name: Signature Financial Management Inc
- Also doing business as: BROWN ADVISORY
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Norfolk, VA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106375
- AdvisorCensus page: https://advisorcensus.com/firm/brown-advisory-norfolk-va-106375

## Quick answers

**How is Brown Advisory compensated?**
On its Form ADV (Item 5.E, October 2026), Brown Advisory reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**What does Brown Advisory's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 30, 2026 states: Up to $1,000,000: 1% a year; $1,000,000 to $3,000,000: 0.75% a year; $3,000,000 to $5,000,000: 0.65% a year; Above $5,000,000: 0.5% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Brown Advisory located?**
Brown Advisory's principal office is in Norfolk, VA, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Brown Advisory registered with the SEC or a state?**
Brown Advisory is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 106375.

**How much does Brown Advisory manage?**
Brown Advisory reports $7,570,327,667 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (99% discretionary).

**How have Brown Advisory's assets and staff changed since 2021?**
In the Form ADV data for Brown Advisory: Regulatory assets under management: $7,694,508,273 in the October 2021 data and $7,570,327,667 in the October 2026 data, down 2%. Total employees: 55 in October 2021 and 36 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Brown Advisory serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (145); individuals (other than high net worth individuals) (27); charitable organizations (23).

**Which custodians does Brown Advisory use?**
Brown Advisory's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York Mellon, Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Brown Advisory report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106375

**What changed in Brown Advisory's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 21 to 16.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 30, 2026)

- Up to $1,000,000: 1% a year
- $1,000,000 to $3,000,000: 0.75% a year
- $3,000,000 to $5,000,000: 0.65% a year
- Above $5,000,000: 0.5% a year

> Brown Advisory’s standard fee is 1.00% per year on the first $1,000,000; 0 .75% on the next $2,000,000; 0 .65% on the next $2,000,000; and 0 .50% on assets greater than $5,000,000.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Bank of New York Mellon
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $7,570,327,667
- Discretionary: $7,524,679,716
- Non-discretionary: $45,647,951

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 27 | $6,153,107 |
| High net worth individuals | 145 | $5,546,082,535 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 16 | $1,660,184,560 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 23 | $149,372,293 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 18 | $208,535,172 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1994 (32 years)
- Employees: 36 total, 16 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, FL, GA, IL, NC, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Charlottesville, VA
- Richmond, VA

### Websites listed on Form ADV (Item 1.I)
- brownadvisory.com/us/home
- Facebook @brownadvisory
- Instagram @brown_advisory
- LinkedIn @brown-advisory
- X @BROWNADVISORY
- X @Bafunds
- YouTube @UCNGLuhyg0t_aL1bIpQ37nGQ

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $7,694,508,273 | 55 | March 31, 2021 |
| October 2022 | $7,837,531,987 | 45 | March 30, 2022 |
| October 2023 | $6,606,613,781 | 45 | July 28, 2023 |
| October 2024 | $6,878,164,648 | 40 | May 17, 2024 |
| October 2025 | $7,319,916,211 | 37 | May 29, 2025 |
| October 2026 | $7,570,327,667 | 36 | March 30, 2026 |

Regulatory assets under management: $7,694,508,273 in the October 2021 data and $7,570,327,667 in the October 2026 data, down 2%.
Total employees: 55 in October 2021 and 36 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 21 to 16.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Brown Advisory (CRD 106375): Form ADV filing data as of October 2026.