$18B Atlanta-based RIA continues growth into the mid-Atlantic region
ATLANTA — December 11, 2024 —HB Wealth Management (HB), a leading Atlanta-based fee-only wealth advisor with offices across the Southeast, has entered into a definitive agreement to acquire WMS Partners (WMS), a $6.4 billion multi-family office and registered investment adviser (RIA) based in Towson, Maryland, which will become part of HB Family Office. The transaction is expected to close in early Q1 of 2025, subject to customary closing conditions.
Since 1993, WMS has provided a holistic suite of wealth management and family office solutions for high- and ultra-high-net-worth individuals and families, including robust trust and estate planning capabilities and a sophisticated private investments platform. The firm, founded by Tim Chase, David Citron and Martin Eby, has grown to more than 80 employees and partners.
“HB is highly selective as we evaluate potential partners, and we are thrilled to join forces with WMS Partners who we have long admired for their unwavering commitment to serving as a fiduciary to client families,” said Homrich Berg President and CEO Thomas Carroll. “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.”
“Our pledge to client families has always been to create a permanent solution to serve multiple generations,” said Martin Eby, co-founder and Senior Advisor at WMS. “By joining HB, we will fulfill that promise and benefit from a platform and leadership team that shares our unwavering commitment to always putting clients first. We look forward to a seamless transition and know the essence of WMS will remain as we join HB.”
“We’ve had a multi-year relationship with HB and have built strong connections across our organizations,” added Todd Wickwire, CEO of WMS. “We feel very fortunate to have found a firm with shared values and a vision of serving clients as fiduciaries and innovating through their investment and planning platforms.”
This transaction is a pivotal inflection point in HB’s growth story expanding into the mid-Atlantic region and comes on the heels of recent milestones for HB, including its strategic minority investment from TPG Growth and the opening of a Tampa, FL office through the addition of a 12-person team. Notably, the acquisition is the first since hiring Andrew Page, Head of Corporate Development at Homrich Berg, to lead its mergers and acquisitions activities.
The WMS acquisition will bring HB’s total assets under management to over $24 billion, expanding its footprint to include 10 offices across five states with more than 300 team members. At the closing of this transaction, all 21 WMS shareholders will become owners in HB, bringing the total shareholder count for the combined firm to over 70.
Willkie Farr & Gallagher LLP served as legal counsel to WMS Partners, while Alston & Bird LLP served as legal counsel to HB.
About Homrich Berg
Founded in 1989, Atlanta-based Homrich Berg is a national independent wealth management firm that provides fiduciary, fee-only investment management and financial planning services, serving as the leader of the financial team for our clients, including high-net-worth individuals, families and not-for-profits. Homrich Berg manages over $18 billion for clients across the U.S.
About WMS Partners
Founded in 1993, WMS Partners has built a reputation as a trusted multi-family office and wealth management firm. As a fee-only fiduciary, WMS Partners provides sophisticated planning and investing services tailored to the unique needs of wealthy families. The firm emphasizes open communication, fiduciary commitment, and a collaborative approach with clients’ other advisors to ensure holistic financial stewardship.
Media Contact
Lily Schlosky
Gregory FCA
610-860-2103
lily@gregoryfca.com
