Thirty five years into its history and Atlanta-based RIA Homrich Berg continues to expand with new investment adding weight to its growth potential.
The firm, which manages around $18 billion in client assets and recently appointed a new principal and chief advisory officer, has attracted a new minority partner as global alternative asset manager TPG Growth adds to its investment industry holdings.
In 2021, Homrich Berg secured a minority equity partnership with New Mountain Capital, which maintains its investment in the firm alongside TPG while HB’s management team remains the largest shareholder group. Terms of the transaction have not been disclosed.
That previous investment helped fuel growth for HB through and expansion of its client experience and TPG’s involvement will further boost the firm’s capabilities by attracting top-tier talent and increased improvement of client services.
"We are thrilled to welcome TPG Growth as a strategic partner alongside New Mountain," said Homrich Berg president and CEO Thomas Carroll. "Partnering with minority investors who hold a shared vision for the future of the Firm enables us to continue delivering outstanding service and advice within our independent, fee-only fiduciary model. It also allows HB to remain the largest shareholder group, with our management team retaining operational control, ensuring that our mission of being a trusted financial guide for our clients remains intact."
For TPG Growth, the investment in HB comes at a time when the RIA has seen strong organic and inorganic growth, as noted by Jenny Tu, principal at TPG Growth.
“The Firm’s unwavering commitment to client service and a fee-only fiduciary approach is a proven formula for success and we look forward to supporting HB’s vision for enhancing their capabilities and serving even more clients,” Tu said. “We have been impressed by Thomas and his team and are proud to partner with them and the team at New Mountain to build on HB’s momentum."
Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.
Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.
National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.
While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.
A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
