Homrich Berg Welcomes WMS Partners in Strategic Acquisition
Homrich Berg, a prominent wealth management firm based in Atlanta, is taking significant steps toward its expansion initiatives by announcing a definitive agreement to acquire WMS Partners, a $6.4 billion multi-family office. This strategic acquisition marks an important milestone for Homrich Berg as it strives to enhance its offerings and reach.
Understanding WMS Partners' Role in Wealth Management
WMS Partners has been providing comprehensive wealth management solutions since its inception in 1993. They have developed an impressive track record serving high and ultra-high-net-worth families with services such as trust and estate planning alongside private investments. Founded by industry veterans Tim Chase, David Citron, and Martin Eby, WMS has cultivated a team of over 80 dedicated professionals, which further solidifies its reputation within the financial sector.
A Statement from Leadership
Thomas Carroll, President and CEO of Homrich Berg, expressed his enthusiasm regarding the partnership, stating, "We are thrilled to join forces with WMS Partners, who we have long admired for their unwavering commitment to serving as fiduciary to client families. Our collaboration will only enhance our services, helping us better support clients facing complex planning and investment challenges in our pursuit to become the premier independent fee-only RIA in the Southeast."
Seamless Integration and Shared Value
Co-founder Martin Eby of WMS conveyed the importance of aligning with a firm that upholds strong values. He stated, "Our pledge to client families has always been to offer a permanent solution that serves multiple generations. Joining Homrich Berg allows us to fulfill that mission while continuing to prioritize our clients."
Impacts on Homrich Berg’s Growth Trajectory
This transaction is a pivotal moment in Homrich Berg's growth strategy as it extends its reach into the mid-Atlantic region. The acquisition comes in the wake of other significant developments for HB, including a strategic investment from TPG Growth and the launch of a new office in Tampa, Florida, which added a skilled 12-person team.
Scaling Together
Following the completion of this acquisition, Homrich Berg will manage over $24 billion in assets, solidifying its place as a leading player in the wealth management industry. With this merger, HB will expand its presence across ten offices in five states, supported by a workforce of over 300 professionals. All 21 WMS shareholders will transition into ownership roles at Homrich Berg, increasing the total number of shareholders to over 70.
Future Prospects for Homrich Berg
The move to acquire WMS Partners not only highlights Homrich Berg’s commitment to growth but also strengthens its capacity to serve clients more effectively. As a firm known for its fiduciary services, this new chapter will help Homrich Berg deliver on its promise of exceptional wealth management tailored to client needs. The dedicated leadership teams from both firms are focused on ensuring a seamless transition while maintaining the integrity that their clients expect.
Comprehensive Legal Support
In navigating this major transaction, WMS Partners enlisted Willkie Farr & Gallagher LLP as its legal counsel, while Alston & Bird LLP provided the legal support for Homrich Berg, ensuring all regulatory and compliance matters were aptly addressed.
About Homrich Berg
Founded in 1989, Homrich Berg stands as a national leader in independent wealth management. The firm prides itself on offering fiduciary, fee-only investment management and financial planning services to high-net-worth individuals, families, and not-for-profits across the United States, managing over $18 billion in assets. Their approach to wealth advisory is collaborative and deeply rooted in the goal of enhancing clients’ financial well-being.
About WMS Partners
WMS Partners has garnered recognition for its fee-only, fiduciary wealth management services since its establishment in 1993. Emphasizing open communication and collaboration, WMS has been dedicated to crafting tailored investment solutions for wealthy families. By joining forces with Homrich Berg, WMS Partners looks forward to benefiting from enhanced resources while continuing to uphold its legacy of client-first service.
Frequently Asked Questions
What is the significance of Homrich Berg acquiring WMS Partners?
This acquisition enhances Homrich Berg's service offerings and expands its asset management to over $24 billion, allowing it to better serve diverse client needs.
How long has WMS Partners been operating in wealth management?
WMS Partners was founded in 1993 and has since built a strong reputation for providing comprehensive wealth management solutions.
Who are the key figures in this acquisition?
Key figures include Thomas Carroll, President and CEO of Homrich Berg, and Martin Eby, co-founder of WMS Partners, who are both enthusiastic about the partnership.
What are the future plans for the combined firms?
The integrated firms aim to maintain a strong client-first approach while leveraging shared values to enhance client services and investment strategies.
What legal support was utilized for this transaction?
Willkie Farr & Gallagher LLP represented WMS Partners, while Alston & Bird LLP were the legal advisors for Homrich Berg, ensuring compliance throughout the process.
