HB Wealth Management, an Atlanta-based leader in fee-only wealth advisory services, has announced a definitive agreement to acquire WMS Partners, a prominent multi-family office and Registered Investment Advisor (RIA) located in Towson, Maryland. This strategic acquisition, valued at $6.4 billion, will integrate WMS Partners into HB Family Office and is anticipated to finalize in early Q1 2025, pending standard closing conditions.
WMS Partners, established in 1993, has cultivated a strong reputation for delivering comprehensive wealth management and family office solutions to high-net-worth and ultra-high-net-worth individuals and families. Their services encompass robust trust and estate planning, alongside a sophisticated private investments platform. Founded by Tim Chase, David Citron, and Martin Eby, WMS Partners has grown to include over 80 partners and employees, all based in Towson, Maryland.
Thomas Carroll, President and CEO of Homrich Berg, stated, “HB is highly selective in our partnerships, and we are excited to welcome WMS Partners, a firm we have long respected for their dedication to serving clients as a fiduciary.” He further added, “The shared approach of WMS Partners and HB in advanced planning and private market investing creates a synergy that will enhance our service offerings. This acquisition allows us to better address the complex planning and investment needs of our clients as we aim to become the leading independent fee-only RIA in the Southeast and beyond.”
Martin Eby, co-founder and Senior Advisor at WMS, commented, “Our commitment to client families has always been to provide lasting, multi-generational solutions. Joining HB fulfills this promise, offering our clients an enhanced platform and a leadership team that mirrors our client-first ethos. We anticipate a smooth transition and are confident that the core values of WMS will endure within HB.”
Todd Wickwire, CEO of WMS Partners, also noted the long-standing relationship between the two firms, saying, “Our organizations have built strong connections over several years. We are fortunate to have found a partner in HB that shares our values and vision for fiduciary client service and innovation in investment and planning platforms.”
This acquisition marks a significant milestone in HB’s growth, extending its reach into the mid-Atlantic region with WMS Partners in Towson. This follows HB’s recent achievements, including a strategic minority investment from TPG Growth and the opening of a Tampa, FL office. The acquisition of WMS Partners is the first major move since Homrich Berg appointed Andrew Page as Head of Corporate Development to spearhead mergers and acquisitions.
Post-acquisition, HB’s total assets under management will exceed $24 billion. The firm’s footprint will expand to 10 offices across 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 entity to over 70.
Willkie Farr & Gallagher LLP acted as legal counsel for WMS Partners, and Alston & Bird LLP served as legal counsel for HB in this transaction.
About Homrich Berg
Founded in 1989 and based in Atlanta, Homrich Berg is a national independent wealth management firm. They provide fiduciary, fee-only investment management and financial planning services, acting as the central point of contact for their clients’ financial needs. Homrich Berg currently manages over $18 billion in assets for clients across the U.S.
About WMS Partners
Established in 1993, WMS Partners has earned a reputation as a respected multi-family office and wealth management firm in Towson, Maryland. As a fee-only fiduciary, WMS Partners delivers sophisticated planning and investment services tailored to the specific needs of affluent families. The firm emphasizes transparent communication, fiduciary responsibility, and close collaboration with clients’ other advisors to ensure comprehensive financial management.
