The Brookfield brand is one of the most trusted in the entire alternative asset management scene. Undoubtedly, many of us grew to love the original Brookfield, which spun off into Brookfield Corp. (TSX:BN) and the yield-heavier Brookfield Asset Management (TSX:BAM) a while ago. Indeed, both companies are incredibly well-run, with incredible stewards running the show. While there may be a "better" buy, I do find that value investors cannot do wrong by owning either or both names as a part of a diversified portfolio.

At the end of the day, Brookfield is a heavyweight champ in the financial scene. And though BAM or BN stocks could outperform one another over an arbitrary timespan, Canadian investors should be asking themselves what they value more in stock.

For passive-income seekers, BAM would be the obvious first pick due to its generous 3.75% dividend yield at the time of writing. Of course, the asset manager may not be as "growthy" as shares of BN (Brookfield Corp); regardless, yield seekers are getting a good balance of income and long-term appreciation from the name.

Brookfield Corp.

Brookfield Corp. stands out as having a more diversified portfolio for investors who just want exposure to the firm's wealth of assets. Of course, the stock doesn't have nearly as high a yieldâcurrently sitting at 0.7%âas its brother (BAM). If long-term growth is what you seek, though, I find the trade-off to be well worthwhile. The stock is up more than 21% year to date, leaving the TSX Index behind by a pretty wide margin.

Moving ahead, I expect the outperformance to continue, especially as Brookfield continues making smart deals in the alternative asset scene. And with shares of BN recently touching new all-time highs (just north of the $63 mark), I find Brookfield Corp. stock to be a timelier play. Though only time will tell if we're at the start of a big summertime breakout, I do view the name as nothing short of intriguing at current levels.

Brookfield Asset Management

If you're not a big income fan, perhaps it's Brookfield Asset Management's focusâasset management servicesâthat has your attention. Undoubtedly, a capital-light type of play may be more your cup of tea, especially if you're looking to play increased global interest in investing in alternative cash flow-generative assets. The nearly 4% yield is the star of the show. But with the stock rising north of 9% year to date, BAM is no slouch on the appreciation front, either.

At 33.3 times forward price to earnings (P/E), BAM looks more or less fully valued. In any case, I'd much rather go for BN stock over BAM due to its lower forward P/E, which sits at 18.0 times.

Though BN may have a slight edge over BAM at current levels, I'd not be afraid to be a net buyer of both names at today's valuations. The Brookfield family is solid, and if you're looking for the absolute perfect mix of income and growth, perhaps a balance of BN and BAM makes the most sense for investors.

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