Face Off: Pittsburgh leaders on growth through trust and technology
Writer: Melis Turku Topa
June 2025 — Pittsburgh’s professional services sector is evolving in a big way, with the adoption of powerful technology contributing to record revenue and profitability. But ongoing changes to the industry and an increasingly competitive landscape in Southwest Pennsylvania are keeping leaders focused on the right strategy for sustained growth.
Invest: recently caught up with Winfield Smathers, CEO of Shorebridge, and K&L Gates LLP Managing Partner Thomas Ryan to learn how they’re navigating a rapidly changing business environment, what sets Pittsburgh and the region apart, and their plans to continue meeting demand for services.
What have been some recent milestones for the firm over the past year?
Winfield Smathers: We’ve had record revenue and asset growth in the past 12 months. We’ve eclipsed $1 billion in our assets under administration, a new high water mark for us. All of my advisers are at their highest producing levels. Everyone is benefiting from their own career growth and strong market growth. I am seeing continued strength moving forward. The average age of a financial adviser is around 50-60, but the average age in my firm is in the low 40s. We have a unique runway for growth because of our demographics.
Thomas Ryan: We have seen significant revenue and profitability growth. The focus is on achieving and growing profitability and the ability to do more with less, with the Pittsburgh office outpacing the firm. Another significant achievement is being an early adopter for integrating AI across multiple disciplines. We have a firmwide AI industry working group that rolls out tests for new products, works with our clients, and finds ways to continue integrating and pushing our practices forward.
What makes Pittsburgh a strategic location for professional services, and how are your firms engaging with the local community?
Smathers: Pittsburgh is a diverse, tight-knit community, and different team members have different causes they support. We encourage individuals to support organizations they hold near and dear to their hearts. We’ve also supported new initiatives like the local chapter of the Alliance of Merger & Acquisition Advisors. The local chapter will be good for Pittsburgh, promoting M&A in the region. It’s great for the business owners to know there’s an organization out there that will help them complete transactions and help the families involved become stewards of their wealth and work through complex issues beyond the sale
Ryan: Pittsburgh provides a unique advantage for a couple of reasons. It is one of the most competitive legal markets in the country. A lot of people outside of the legal industry don’t appreciate the competitiveness, which drives innovation and raises the quality of service for clients. The other reason is Pittsburgh serves a gateway to the world for our clients. We are able to tap into subject matter experts in practically every area of the law and meaningful geography around the world. Our full-service, globally-integrated legal network starting in Pittsburgh has aligned us as closely as possible to clients with a global footprint.
In what ways are you embracing innovation to stay ahead of industry changes?
Smathers: We want to continue positioning ourselves for the future, so when it’s time to move on we are in the right place with the right partners to continue the service our clients are accustomed to. We need to ensure we are not making business mistakes and running the firm smartly and profitably. Our employees and clients need a place of continuity for their careers and families for generations to come. That includes preserving the culture and integrity of the firm. We’re always figuring out better ways to do things, become more efficient, and pinpointing areas for improvement.
Ryan: Change is coming and you can’t ignore it, or risk being left behind. Failing to recognize the changes or appreciate the delivery of legal services through AI would be a disservice. We took a very disciplined and regimented approach from the very beginning, forming an AI working group across multiple disciplines with a detailed plan and procedure. Everything was mapped out before building a secure internal AI ecosystem, including how we can provide strict protocols for data security — for both cybersecurity and data privacy — and how we can cater to individual client requirements. Finding ways to improve our services has been a product of open dialogue with our clients.
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