Homrich Berg, a rapidly expanding wealth management firm, announces its acquisition of WMS Partners, a $6.4 billion multifamily office and registered investment advisor based in Towson, Md. This deal marks the largest acquisition in Homrich Berg's history since its founding in 1989.
Currently managing over $18 billion in client assets, Homrich Berg ranks No. 27 on Barron’s Top 100 RIA Firms for 2024. While financial terms remain undisclosed, the firm expects the deal to close in early Q1 2025. All WMS Partners shareholders will become shareholders of Homrich Berg, according to CEO Thomas Carroll.
“This acquisition significantly enhances our capabilities for serving ultra-high-net-worth clients,” Carroll says. “WMS Partners brings deep expertise in family office services, particularly in estate planning and private market investing, which strengthens our platform.”
Carroll emphasizes the compatibility between the two firms, noting their shared fee-only fiduciary business model. “The number of firms operating with this client-first approach is relatively small. When we find a firm that aligns with our values and operates in a strategic geographic market, it’s an exciting opportunity,” he adds.
Founded in 1993 by Tim Chase, David Citron, and Martin Eby, WMS Partners has grown into a well-regarded wealth management firm with more than 80 employees. It specializes in delivering tailored wealth management and family office services to high-net-worth and ultra-high-net-worth individuals and families.
Eby highlights the strategic benefits of joining forces with Homrich Berg. “Partnering with HB allows us to scale our services while staying true to our core mission of putting clients first,” he says. “Their robust platform and experienced leadership will support us in serving future generations of our clients.”
Homrich Berg’s expansion has been gaining momentum beyond its Georgia headquarters into key markets such as Florida and Tennessee. The firm now operates 10 offices across five states. In September, it sold a minority stake to a private-equity arm of TPG, positioning itself for continued growth.
Demonstrating its commitment to expansion, Homrich Berg hired a former Truist advisor team managing $4 billion in assets to lead its Tampa, Fla., office. Additionally, the firm appointed industry veteran Larry Parkin as Florida market leader to drive regional growth.
“It’s been a transformative year,” Carroll reflects. “We secured a strategic minority investment, opened a Tampa office, and announced the largest acquisition in our history. We’re committed to a thoughtful integration process throughout 2025 while continuing to pursue new growth opportunities. Our goal is to become the premier fee-only RIA firm in the Southeast.”
