PE-backed Homrich Berg Adds $6.4B Maryland MFO WMS Partners

HB Wealth Management announced that it has acquired Towson, MD-based RIA and multifamily office WMS Partners, which manages $6.4B in client assets, in a deal expected to close in the first quarter of 2025.

The acquisition is HB’s first since recruiting Andrew Page from Ancora Holdings Group in April to lead its M&A activities and continues its expansion in the Mid-Atlantic region. At the closing of this transaction, all 21 WMS shareholders will become owners in HB, bringing the total shareholder count for the combined firm to over 70.

As previously reported by Dakota, HB took a minority investment from TPG Growth in October, with TPG’s middle-market and growth equity platform joining New Mountain Capital, which began backing the Atlanta-based RIA in 2021. It followed that up later in the month by recruiting a 12-person, Tampa, FL-based team managing $4B from Truist.

Upon completion, HB’s client assets will stand at $24B, with the firm operating 10 offices supported by 300 staff members across five states. Wilkie Farr & Gallagher LLP served as legal counsel to WMS while Alston & Bird LLP provided legal counsel to HB in the transaction.

Written By: Dakota

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PE-backed Homrich Berg Adds $6.4B Maryland MFO WMS Partners

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