The wealth management firm Homrich Berg has acquired WMS Partners, a registered financial adviser (RIA) and multi-family office managing $6.4 billion in client assets, and will now operate it as part of the HB Family Office.
Towson, Maryland-based WMS has provided private investing tools as well as trust and estate planning services to high-net-worth and ultra-high-net-worth families since its founding in 1993. For Atlanta-based Homrich Berg, the acquisition brings its total assets under management to $24 billion and expands its presence into the mid-Atlantic region.
“WMS and HB share a unique approach to advanced planning and private market investing; and this collaboration will complement and enhance our service offering, allowing us to even better serve clients with complex planning and investment needs as we move to become the premier independent fee-only RIA in the Southeast-plus region,” said Thomas Carrol, Homrich Berg president and CEO.
All 21 shareholders in WMS will become owners in Homrich Berg as part of the transaction. Investors in Homrich Berg include New Mountain Capital and TPG Growth, which acquired a minority stake in HB in September.