Thomas Carroll, CFP, CEO and President of Homrich Berg Wealth Management, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss the firm’s growth as a fee-only advisor.
Founded in 1989, Homrich Berg is a $17 billion fee-only financial advisor. The firm serves clients with deeply technical advisors who have a missionary approach to client service. Homrich Berg has grown substantially with 65% of new business coming from client referrals.
After receiving a minority investment from a private equity firm, Homrich Berg has hired a head of corporate development and is looking to increase their growth through partnerships with other advisory firms. The firm seeks to integrate businesses and not aggregate assets while maintaining a geographic focus in the southeast.
Homrich Berg invests in alternatives, with analysts leading coverage of private equity, private debt, and private real estate. Rather than concentrating assets in single managers, the firm offers a single investment vehicle that provides access to managers across PE, real estate, and private debt. With about 40% of assets sourced from the family office group, the sophisticated services required to service that sector benefits all clients of the firm.
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