BIP Wealth becomes 15th RIA to score minority investment from Constellation Wealth Capital

Constellation Wealth Capital has made a minority investment into BIP Wealth as the Atlanta-based RIA has ambitions of hitting upwards of $20 billion in assets with support from its new private equity sponsor. 

Founded in 2007, BIP Wealth has focused on organic growth to reach its current $5.5 billion assets under management. It also dipped into the M&A market over the last two years through purchases of The Money Advisor Group and Prehmus Financial, managers of $300 million and $900 million respectively, with more acquisitions expected moving forward.

“I certainly wanted to dig in my heels and try to sell as little on a pro rata basis as possible. But having the right partner is so critical in helping us take this next step as we grow from a $5 billion RIA, as we target $10 billion, $20 billion and beyond,” BIP’s co-founder and CEO Bill Harris told InvestmentNews. “Looking at firms between $250 million and $1.5 billion is really an ideal target for us, but we have the flexibility to move outside that range as long as it's the right fit for the firm—culturally and philosophically.”

BIP Wealth says it gained $725 million in new organic assets under management in 2025. The firm positions itself as a southeast wealth hub with four offices across Georgia and another location in Nashville, TN. Georgia Tech baseball coaching legend Danny Hall joined BIP last year to support the RIA’s baseball division, which staffs four advisors who all played professional baseball and serve 160 college and pro player clients. 

“We want to build a platform. One thing we're working on internally with our BIP Capital team is how to integrate artificial intelligence into the technology platform, because that's coming fast with regard to the wealth management industry,” said Harris.

BIP marks the 15th RIA to receive minority investment from Constellation Wealth Capital, which was founded by former Emigrant Partners CEO Karl Heckenberg. Other RIAs in Constellation’s portfolio include Lido Advisors, Alti Tiedemann Global, Bogart Wealth, Merit, Cresset, Daymark Wealth Partners, Greenwood Gearhart, Procyon, and Avior.

Terms of Constellation’s investment in BIP Wealth were not disclosed. However, the private equity firm aims for “10-15% at the low end to about 35 or 40% at the high end” in its typical RIA investments, according to Constellation’s head of investments Pat McHugh. 

“Oftentimes we will either programmatically or in a handshake arrangement think about follow-on investments as part of our investment strategy for that firm. I think that's going to be the case for BIP as they look to execute on their inorganic growth strategy, where they're going to need some more capital as they do deals,” McHugh said. “We will be very happy to participate in building our position over time”

BIP Wealth has about 90 team members and began this year by hiring Caleb Smith, formerly of SageView Advisory Group, to lead M&A direction as its new chief development officer. Part of Constellation's strategy for helping RIAs grow through M&A includes providing access to debt capital. 

“We work very closely with our firms on securing or enhancing their availability and access to debt and debt capital markets,” said McHugh. “We are very conservative when it comes to debt, but it absolutely can make sense for non-dilutive capital to come into the system to finance accretive M&A and recruiting endeavors.”