MagnifyMoney 
Homrich Berg is an Atlanta-based financial advisory firm that provides financial planning and investment management services. It works mostly with high net worth individuals, although it has many clients who are not in the high net worth category. Homrich Berg takes a team-based approach to serving its clients, assigning three to four employees to each account.
The bottom line: Homrich Berg is a wealth management firm located in Georgia that caters largely to high net worth individuals, although there is no minimum account balance required.
| Assets under management (AUM): $11,082,920,997 | |
| Minimum investment: No minimum required | |
| Individual investor to advisor ratio: 32:1 | |
| Fee structure: A percentage of AUM, hourly charges, fixed fees | |
| Headquarters: 3550 Lenox Road, NE, Suite 2700 Atlanta, GA 30326 Website: www.homrichberg.com Phone: 727-898-3063 |
All information included in this profile is accurate as of May 6, 2022. For more information, please consult Homrich Berg’s website.
Homrich Berg is a fee-only firm founded in 1989. The firm has nearly 150 employees, over 80 of whom perform investment advisory and research functions. Many of the firm’s client service associates have earned the designation of certified financial planner (CFP) or chartered financial analyst (CFA), and some are certified public accountants (CPA) as well.
The firm has four offices throughout Georgia and an office in Florida, but has clients across 44 states. It is principally owned by Homrich & Berg Inc. and NMSEF I Holdings V, L.P., an affiliate of the growth-oriented investment firm New Mountain Capital.
Andy Berg and David Homrich launched the firm with a $100,000 loan from Berg’s father. They were both CPAs who had transitioned into being wealth managers. As Berg is quoted on the firm’s website, “We started HB with a simple vision — to serve clients, not sell products, and to help them with every part of their financial life.”
Homrich left the firm in 2001, while Berg remains the firm’s CEO.
The firm’s client base is mostly individual investors, with the majority of those being high net worth individuals. (For reference, the Securities and Exchange Commission [SEC] defines high net worth individuals as those with at least $750,000 under management or a net worth of at least $1.5 million).
The firm doesn’t have a minimum account balance. However, it generally imposes a minimum annual fee of $12,500, which may make it best for those with more money to invest.
The firm offers a full suite of financial planning and wealth management services to its clients. The firm also provides investment management services, which include a review of a client’s objectives, obligations and outside assets and the formulation of investment advice based on the client’s specific goals and risk tolerance, as well as the firm’s market outlook.
Clients have the option of just getting investment management services, or for a single asset-based fee, they can get both investment management and financial planning services. Financial planning is offered on a stand-alone basis as well.
Here is a full list of services offered by Homrich Berg:
The firm creates personalized portfolios for its clients, based on their financial picture, goals and risk tolerance. In addition to focusing on diversification, the firm’s portfolios aim to minimize fees and taxes, and to take advantage of potential market opportunities without engaging in large market timing shifts. More specifically, the firm adheres to the following seven key investment principles:
The firm has a dedicated investment committee, which evaluates third-party managers and individual securities using a range of analysis, including liquidity analysis and counterparty risk evaluation. Investments used in client portfolios may include:
The firm typically charges clients a fee based on a percentage of assets under management. It has two separate tiered schedules, depending on whether the client uses just investment management services or investment management and financial planning services.
| Homrich Berg Investment Management and Financial Planning Fee Schedule | |
|---|---|
| Assets under management | Annual rate |
| First $1 million | 1.25% |
| Next $4 million | 1.00% |
| Next $5 million | 0.75% |
| Over $10 million | 0.50% |
| Homrich Berg Investment Management Only Fee Schedule | |
|---|---|
| Assets under management | Annual rate |
| First $1 million | 1.25% |
| Next $1 million | 1.00% |
| Next $3 million | 0.75% |
| Over $5 million | 0.50% |
Occasionally, the firm charges hourly fees to financial planning clients instead. In addition to the fees listed above, clients may pay additional investing-related fees to third-party managers, such as brokerage commissions or transaction fees, as well as any costs associated with investing in funds.
The firm doesn’t have any disciplinary disclosures. All registered investment advisors are required to disclose any legal, regulatory or criminal events in the Form ADV documents they file with the SEC.
For more information, you can go to the firm’s Investment Adviser Public Disclosure (IAPD) page.
Homrich Berg has five offices in total:
Though the firm’s office locations are limited to the southern U.S., Homrich Berg states on its website that it currently serves clients in 44 states.
Homrich Berg might be the right wealth management firm if you can afford the firm’s minimum annual fee of $12,500 and are located in Georgia or Florida. Clients with fewer assets might be able to find lower fees with another wealth management firm.
If you do have a large amount of assets to invest, you may benefit from the firm’s team approach to wealth management, as it assigns three to four employees to each client account.
As always, when selecting a financial institution, you should be sure to research multiple firms to ensure you find the right advisor for you.
Beth BravermanBeth Braverman is a freelance writer covering personal finance, careers and parenting. Her work has appeared in dozens of publications, including CNN Business, CNBC.com and USNews.
Read More
