On New Year’s Day in 2024, there will be a new CEO at Homrich Berg.
Thomas Carroll will take over at the Atlanta-based registered investment advisor, succeeding co-founder Andy Berg. Berg will stay on as chairman of the $14 billion RIA going forward, the firm announced Tuesday.
Carroll told InvestmentNews the transition has been years in the making. “He [Berg] hired me four years ago as the presumptive successor and it was my understanding at the time that the transition would be somewhere between three to five years.”
Carroll adds that it was the right amount of time before being Berg’s successor.
“It allows me time to get to know the firm, meet our clients, make sure they understand the transition is going to be business as usual; it allows me to get to know our teammates, and it’s just been perfect timing.”
Carroll joined HB to fulfill the firm’s multiyear transition plan, leveraging his multidecade career in financial services to propel growth across the Southeast. Carroll’s career spans decades at SunTrust Bank, where he worked as both an advisor and executive vice president. He was head of division wealth management and also served as CEO of GenSpring Family Offices, the multifamily office subsidiary of SunTrust Bank.
Moving forward, Carroll says he will focus more on inorganic growth and M&A activity.
He also plans to focus on delivering an exceptional client experience while continuing to scale the firm for the benefit of HB clients.
“As we create that scale, one of the things that we need to focus on is continuing to invest in digital and technology,” Carroll adds. “So, HB will probably embrace technology a little bit more rapidly going forward.”
Carroll holds a bachelor of science in business from Wake Forest University and is a CFP.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
