HB Wealth, formerly known as Homrich Berg, is a financial advisory firm with a large team of on-staff advisors managing billions in client assets. Its headquarters is located in Atlanta. Thomas Carroll is the firm's president and CEO, while Andy Berg serves as chairman. The firm works with a fairly diverse array of clients, including individuals, retirement plans, businesses, investment funds and trusts.
HB Wealth currently holds a spot on SmartAsset's lists of the top financial advisors in Atlanta and top financial advisors in Georgia. It's a fee-only firm, so all of its compensation comes from the management fees that clients pay. This avoids the potential conflicts of interest typically found at fee-based firms, which allow advisors to also earn compensation through commission-based transactions like insurance sales.
HB Wealth Background
HB Wealth traces its roots back to 1989. Today, the firm is principally owned by a handful of corporate entities. In addition to its headquarters in Atlanta, the firm has offices throughout Georgia in Alpharetta, Sandy Springs and Augusta, as well as in Florida, Maryland, North Carolina, South Carolina and Tenneessee.
There are many advisors employed by HB Wealth, and the team’s list of advisory certifications is quite lengthy. Among them are Certified Financial Planners™ (CFPs®), chartered financial analysts (CFAs) and certified public accountants (CPAs), among others.
HB Wealth Types of Clients and Minimum Account Sizes
HB Wealth works with thousands of clients, most of whom are individuals either with or without a high net worth. The firm also manages assets for pension and profit-sharing plans, charitable organizations, government entities and businesses.
HB Wealth doesn’t typically impose a minimum account size. However, the firm may decide to charge a minimum annual fee of $12,500. Note that this policy could make the firm’s services cost-prohibitive for certain clients.
Services Offered by HB Wealth
HB Wealth specializes in wealth management services, which can include investment management, financial planning and other advice. Here’s a more detailed breakdown:
- Financial planning and consulting
- Cash flow planning
- Planning for retirement income needs
- Wealth transfer and estate planning
- Insurance planning
- Income tax planning
- Investment management
- Portfolio construction
- Third-party manager selection
- Private Investments
- Provides investment advice to affiliated funds
- Provides investment advice to unaffiliated funds
HB Wealth Investment Philosophy
HB Wealth generally invests in a range of securities, including mutual funds, exchange-traded funds (ETFs), exchange-traded notes (ETNs), bonds, stocks, hedge funds, private equity funds, real estate funds and natural resources funds.
When analyzing potential investments for client portfolios, the firm will review a number of quantitative and qualitative factors. In the case of third-party investment managers or mutual funds, the firm will identify key decision makers and analyze their ability to invest and create value over time and in different economic environments.
Liquidity is also a factor the firm looks at, particularly in the case of ETFs. Overall, HB Wealth’s advisors will seek to devise an asset allocation of diversified investments that best aligns with each client’s investment goals, time horizon and risk tolerance.
Fees Under HB Wealth
For the most part, HB Wealth charges fees as a percentage of each client’s assets under management (AUM). Although some clients may pay different fee rates depending on specific circumstances, investment management services generally adhere to the fee schedule below:
| Investment Management Fees | |
| AUM | Fee Percentage |
| First $1,000,000 | 1.25% |
| Next $1,000,000 | 1.00% |
| Next $3,000,000 | 0.75% |
| Next $5,000,000 | 0.625% |
| Over $10,000,000 | 0.50% |
This fee schedule generally applies to clients who engage HB Wealth for both investment management and financial planning services simultaneously:
| Financial Planning and Investment Management Fees | |
| AUM | Fee Percentage |
| First $1,000,000 | 1.25% |
| Next $4,000,000 | 1.00% |
| Next $5,000,000 | 0.75% |
| Next $20,000,000 | 0.625% |
| Over $30,000,000 | 0.50% |
What to Watch Out For
HB Wealth has no disclosures on its Form ADV filed with the SEC, as of the writing of this review.
Opening an Account With HB Wealth
To get in touch with HB Wealth, you can call the firm at (404) 264-1400. If you’d like, you can also head online and fill out the firm’s contact form with your name, email address, phone number and a short message.
All information is accurate as of the writing of this article.
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