Office address: 3550 Lenox Road NE, Suite 2700, Atlanta, GA 30326
Website: hbwealth.com
Year established: 1989
Company type: financial services
Employees: 300+ (2025)
Expertise: wealth advisory services, investment management, financial planning, tax planning, estate planning, retirement planning, private equity, private credit, private real estate, family office services
Parent company: HBWM Holdings, LLC
Key people: Andy Berg (chair), Thomas Carroll (CEO), Joel Houck (chief investment officer), Ford Donohue (deputy CIO), Kyle Glenn (COO), Jamie Hennessy (CFO), Laura Carr (chief people officer)
Financing status: private equity-backed
HB Wealth Management is an SEC-registered, fee-only advisory firm based in Atlanta. The firm employs more than 300 professionals and manages over $30 billion in assets as of December 2025. It serves clients in 48 states with wealth advisory, investment management, and family office services.
HB Wealth, then known as Homrich & Berg (H&B), started in 1989 as a fee-only wealth advisory firm in Atlanta. Founders Andy Berg and David Homrich chose a fiduciary model to earn fees from advice, not product commissions.
Homrich left in 2001 to join Home Depot co-founder Arthur Blank's family office. Berg then led the business on his own and grew it across metro Atlanta over the next two decades.
Homrich Berg spent its first three decades in metro Atlanta, where it set up headquarters in Buckhead. The firm made its first move outside Georgia in 2021 by opening an office in Palm Beach.
That same year, private equity firm New Mountain Capital took a minority stake in the business. More offices soon followed in Augusta, Columbia, and Nashville by 2023.
H&B named Thomas Carroll as CEO on January 1, 2024, as founder Andy Berg became chair. The firm also opened a Tampa office that year to widen its Southeast footprint.
Private equity firm TPG Growth then bought a minority stake in November 2024 as the second outside investor. The management team kept the largest ownership share in the firm after both deals.
HB Wealth rebranded from Homrich Berg in August 2025 as the firm's footprint stretched well beyond Atlanta. The firm then expanded into the Mid-Atlantic that year through a deal with Maryland-based RIA WMS Partners.
It also opened a Charlotte office with a five-person JPMorgan team that once managed nearly $15 billion. HB Wealth now manages over $30 billion in assets and was named a 5-Star RIA Firm by InvestmentNews in 2025.
HB Wealth Management combines fee-only wealth advisory with private market investing through its own fund vehicles:
HB Wealth also runs Peachtree-branded private funds across equity, real estate, and credit through affiliated entities. The firm offers three service tiers and staffs its advisory team with CFA charterholders and CFP professionals.
HB Wealth Management ties its culture to ownership, with all leadership serving as shareholders and a firmwide Equity Participation Program open to staff. The firm says it operates by five core values:
HB Wealth has more than 300 professionals across 12 offices in six states as of December 2025. The firm lists the following employee benefits:
The firm also runs a volunteer program called HB Serves and a community outreach effort called the HB Wealth Financial Literacy Initiative. The initiative covers budgeting, loans, home buying, investing, and saving through partnerships with schools, religious organizations, and charities.
Thomas Carroll is CEO and shareholder of HB Wealth Management and took the role after four years as the firm's president. He previously worked at SunTrust Bank and served as CEO of GenSpring Family Offices. Carroll earned a BS in business from Wake Forest University and holds a CFP designation.
Carroll leads HB Wealth's team alongside:
All members of the leadership team are shareholders in the firm. The management team also holds the largest ownership share after two rounds of outside investment.
HB Wealth Management hired Gina Martin Adams, a former Bloomberg Intelligence strategist, as chief market strategist in 2025. Adams brings over 25 years in market research and joins CIO Joel Houck and deputy CIO Ford Donohue. The hire adds proprietary research and investment product development to the firm's growing national operation.
HB Wealth also placed three advisors on the InvestmentNews Top Financial Professionals in the USA 2026 list. Brandon Downs ranked second, Frank Waterson tied for 25th, and Robin Aiken placed 30th.
The list ranked advisors by AUM and client growth, both areas the firm continues to build on. To see more about these awards and the special reports about them, check out our Best in Wealth page.
InvestmentNews celebrates the best fee-only RIAs from the four regions across the US. The 100 winners are thriving in their respective areas by ensuring their clients experience exemplary service. Through a combination of expertise, personalized attention, and a client-first mentality, they have established themselves as trusted partners in guiding individuals and families toward financial success.
