- Wednesday, October 16, 2024
Homrich Berg, a prominent wealth management firm, has announced the promotion of Thomas Carroll to the position of CEO, effective January 1. This move marks the completion of a carefully planned succession strategy, which will see Carroll take over from co-founder Andy Berg. Andy Berg will remain with the company as Chairman.
Carroll, who joined Homrich Berg as President in 2020, expressed his excitement about the transition, highlighting the ample time he has had to familiarize himself with Andy, the business, and their valued clients. With this new role, Carroll will be responsible for overseeing Homrich Berg's expansion efforts, extending beyond their established presence in Atlanta. The company has been experiencing rapid growth in recent years, with new locations opening up in Florida, Tennessee, and South Carolina. In addition, they recently acquired Calvary Wealth, a registered investment advisory firm with $145 million in assets.
Strategic client referrals have played a vital role in driving Homrich Berg's growth, and Carroll believes that mergers and acquisitions will further enhance their expansion plans. While the firm is focused on expanding within the Southeast U.S., Carroll emphasizes their commitment to scaling the business and investing in technology. He envisions doubling the company's current $14 billion assets under management over the next three to five years.
Founded in 1989, Homrich Berg specializes in serving high-net-worth and ultra-high-net-worth clients and consistently ranks among the top 100 RIA firms. Prior to joining Homrich Berg, Carroll spent nearly two decades at SunTrust Bank, where he held the position of Head of Division Wealth Management. Although Carroll and Andy Berg were already friends and attended the same church, Carroll decided to join Homrich Berg due to his desire for a fresh challenge. He sought a smaller, independent firm that would allow him to have an equity stake while remaining based in Atlanta and prioritizing growth.
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