Pitcairn, a storied family office with an established ultra-high-net-worth presence, has officially thrown its hat into the RIA ring.
The Pennsylvania-based family office announced it has acquired Baltimore-based advisory firm Brightside Partners alongside which it's established a new RIA entity, Pitcairn Wealth Advisors, which will bolster Pitcairn's shared single famly office model.
The moves aim to expand Pitcairn’s investment platform and enhance its ability to serve multigenerational families, with Brightside benefiting from additional alternative investment expertise, including a network of more than 100 asset managers and research partners across venture capital, private equity, private credit, and real estate.
With this addition, Pitcairn now oversees more than $9 billion in advised assets.
“We are thrilled to welcome the talented team at Brightside and the remarkable clients they advise — they have set a standard for thoughtful investing, particularly within alternative investments,” Pitcairn president and CEO Andrew Busser said in a statement. “The core principle of Pitcairn’s acquisition of Brightside and the creation of our new RIA is to provide our clients with access to increased investment options and a modern regulatory structure that reflects the growth of our firm.”
Brightside’s team includes five professionals, with partners Pace Kessenich, Ryan Pollard, and Justin Bakewell joining Pitcairn’s Strategic Leadership Council. The newly established Pitcairn Wealth Advisors will operate alongside Pitcairn Trust Company under the Pitcairn Financial Group umbrella, with a focus on streamlining services for both firms’ clients.
“Pitcairn and Brightside share several core values that make this combination a natural fit for our teams and clients,” Kessenich said. “Given Pitcairn’s extraordinary reputation and track record of family office leadership, the Brightside team is extremely pleased to become part of Pitcairn.”
Pitcairn, which traces its roots back to 1923, has expanded beyond its Pennsylvania origins into markets including New York, Baltimore, Washington, DC, and Florida.
The firm’s eponymous chairman, Rick Pitcairn, emphasized the latest expansion as a pivotal point in the firm’s long-term strategy.
“As we’ve evolved from a small Pennsylvania family office into a national firm, our growth has surpassed our historical regulatory structure,” he said. “The launch of Pitcairn Wealth Advisors and the addition of the Brightside team marks a pivotal moment in our journey, enabling us to preserve our legacy while offering broader investment opportunities.”
In October 2023, the firm strengthened its leadership with two key promotions, elevating J. Matthew McCarte to the role of managing director and head of wealth management while putting Karen Carlson in charge of its ultra-high-net-worth relationship management team.
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