US-based wealth advisor Homrich Berg Wealth Management (HB) has agreed to acquire WMS Partners, a Maryland-based multi-family office and registered investment adviser (RIA).
This acquisition will integrate the $6.4bn multi-family office into HB Family Office.
Go deeper with GlobalData
Established in 1993, WMS is engaged in providing wealth management and family office solutions to high- and ultra-high-net-worth clients.
The company, which has over 80 employees and partners, offers trust and estate planning service, as well as a private investments platform.
With the addition of WMS, HB’s total assets under management will exceed $24bn.
This growth will extend HB’s presence to ten offices across five states, with a combined workforce of more than 300.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataUpon completion of the deal, all 21 WMS shareholders will become part-owners of HB, increasing the shareholder count to over 70.
Homrich Berg president and CEO Thomas Carroll said: “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.”
The deal is due to complete in early Q1 of 2025, contingent on the fulfilment of standard closing conditions.
Willkie Farr & Gallagher was the legal counsel to WMS Partners for the deal, with HB securing legal advice from Alston & Bird.
WMS CEO Todd Wickwire said: “We’ve had a multi-year relationship with HB and have built strong connections across our organisations.
“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.”
Earlier this year, private equity firm TPG agreed to acquire minority stake in Homrich Berg.
The investment allows HB to continue to capabilities expansion, attract talent, and improve client services.
