Pitcairn Expands Its Horizons with Brightside Partners Acquisition and New RIA Launch

Pitcairn Expands Its Horizons with Brightside Partners Acquisition

In a significant move towards enhancing its service offerings, Pitcairn, a prominent family office in the U.S., has recently acquired Brightside Partners, a Registered Investment Advisor (RIA) focusing on ultra-high-net-worth (UHNW) clients. The deal marks a pivotal moment in Pitcairn's ongoing mission to provide an exceptional client experience and establish a robust future outlook.

Founded over a century ago, Pitcairn has built a reputation for serving affluent families with tailored financial solutions. The acquisition of Brightside Partners, which is based in Baltimore, Maryland, represents a strategic addition to Pitcairn’s alternative investments platform. With Brightside's extensive network of over 100 asset managers and research partners across various asset classes, including venture capital, private equity, private credit, and real estate, Pitcairn enhances its capabilities to advise on more than $9 billion of assets.

Alongside this acquisition, Pitcairn has established a new RIA entity dubbed Pitcairn Wealth Advisors LLC. This new venture aims to complement the existing trust company and further bolster the firm's innovative Shared Single-Family Office™ model. The new structure is designed to better serve multigenerational families of wealth, enabling them to navigate their complex financial needs more effectively.

Andrew Busser, President and CEO of Pitcairn, expressed enthusiasm about the acquisition, stating, “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.” He emphasized that the core principle behind this strategic move is to provide clients with access to a wider array of investment options while benefiting from a modern regulatory framework that aligns with the firm’s expansion trajectory.

Brightside's team is comprised of five professionals, with three significant partners — Pace Kessenich, Ryan Pollard, and Justin Bakewell — joining Pitcairn’s Strategic Leadership Council. They share a belief that both Pitcairn and Brightside possess core values that align well, creating a natural synergy between the firms. Kessenich commented, “Given Pitcairn's extraordinary reputation and track record of family office leadership, the Brightside team is extremely pleased to become part of Pitcairn.”

With the integration of Brightside’s experienced team, Pitcairn Wealth Advisors will function as a sister firm to the existing Pitcairn Trust Company, seamlessly transitioning services for both Brightside and Pitcairn clients. This expansion demonstrates Pitcairn's commitment to evolving with the changing landscape of wealth management and meeting the needs of modern families.

Rick Pitcairn, Chairman of the firm, highlighted the historical context of this growth. Since its inception in 1923, Pitcairn has been dedicated to assisting multigenerational wealthy families thrive across various market conditions. He stated, “Our growth has surpassed our historical regulatory structure. 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.”

Pitcairn's Shared Single-Family Office™ model is crafted to deliver exceptional integrated services to wealthy families and other family offices, providing comprehensive offerings that include investment advisory, wealth management, tax services, trust and estate planning, and risk management. With teams located across key regions, including New York, Baltimore, Washington, D.C., and Florida, Pitcairn is poised to redefine how family offices operate in a modern context while adhering to a tradition of excellence.

As the financial landscape continues to evolve, the strategic measures taken by Pitcairn signify a promising future. The integration of Brightside Partners not only broadens Pitcairn’s investment avenues but also empowers them to offer families a fortified advisory experience tailored to unique needs in an increasingly complex financial environment.