ATLANTA — December 11, 2024 — In a significant move to broaden its national footprint, Atlanta-based registered investment advisor (RIA) HB Wealth Management has announced a definitive agreement to acquire Wms Partners, a prominent $6.4 billion multi-family office headquartered in Towson, Maryland. This strategic acquisition, set to finalize in early Q1 2025, will see WMS Partners become an integral part of HB Family Office, marking a pivotal expansion for HB into the mid-Atlantic region.
Founded in 1993, WMS Partners has established itself as a leading provider of holistic wealth management and family office services. Specializing in serving high- and ultra-high-net-worth individuals and families, WMS Partners offers a comprehensive suite of solutions, including sophisticated trust and estate planning, and a robust private investments platform. The firm, built by founders Tim Chase, David Citron, and Martin Eby, boasts a team of over 80 experienced professionals.
Thomas Carroll, President and CEO of Homrich Berg, emphasized the strategic alignment and client-centric values shared by both firms. “HB is very selective in choosing partners, and we are excited to join forces with WMS Partners, a firm we have long respected for their deep fiduciary commitment to client families,” Carroll stated. “The synergy between WMS Partners and HB in advanced planning and private market investing is exceptional. This collaboration will enhance our service offerings, enabling us to better serve clients with complex financial needs as we solidify our position as the premier independent fee-only RIA in the Southeast and beyond.”
Alt text: Martin Eby, co-founder of WMS Partners, explains wealth management approaches, highlighting WMS Partners’ expertise in client-focused financial strategies.
Martin Eby, co-founder and Senior Advisor at WMS Partners, echoed this sentiment, highlighting the long-term vision for client service. “Our commitment to client families has always been to build enduring solutions for generations,” Eby commented. “Joining HB allows us to fulfill this promise, leveraging a platform and leadership team that mirrors our dedication to prioritizing clients. We anticipate a smooth transition and are confident that the core values of WMS Partners will remain intact as we integrate with HB.”
Todd Wickwire, CEO of WMS Partners, further emphasized the strong cultural fit and shared vision. “Our relationship with HB has developed over several years, fostering strong connections throughout our organizations,” Wickwire added. “We are fortunate to have found a partner that shares our values, our fiduciary duty to clients, and our commitment to innovation in investment and planning platforms.”
This acquisition represents a significant milestone in HB’s growth trajectory, marking its expansion into the mid-Atlantic region. It follows recent strategic achievements for HB, including a minority investment from TPG Growth and the establishment of a Tampa, FL office, led by Larry Parkin. Notably, the WMS Partners deal is the first acquisition since Andrew Page joined Homrich Berg as Head of Corporate Development to spearhead the firm’s mergers and acquisitions efforts.
Upon completion of the acquisition, HB’s total assets under management will exceed $24 billion. The combined entity will operate across 10 offices in five states, supported by a team of over 300 professionals. All 21 shareholders of WMS Partners will become owners in HB, increasing the total shareholder count of the combined firm to over 70, fostering a broad base of ownership and shared success.
Willkie Farr & Gallagher LLP acted as legal counsel for WMS Partners, and Alston & Bird LLP served as legal counsel for HB in this transaction.
Alt text: Exterior view of the WMS Partners office building in Maryland, illustrating the established presence of WMS Partners in the Mid-Atlantic wealth management market.
About Homrich Berg
Founded in 1989 and based in Atlanta, Homrich Berg is a leading national independent wealth management firm. As a fiduciary, fee-only advisor, HB provides comprehensive investment management and financial planning services. The firm manages over $18 billion in assets for high-net-worth individuals, families, and not-for-profit organizations across the United States.
About WMS Partners
Established in 1993, WMS Partners is a highly regarded multi-family office and wealth management firm known for its commitment to client service and sophisticated financial solutions. As a fee-only fiduciary, WMS Partners delivers tailored planning and investment services to meet the unique needs of affluent families, emphasizing transparent communication, fiduciary responsibility, and collaborative partnerships with clients’ advisors for holistic financial management.
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