Homrich Berg is a financial advisor firm with around 60 financial advisors managing $5.45 billion in client assets. Its headquarters are located in Atlanta, with three offices total in the metro area. In January 2020, it named Thomas Carroll (formerly of SunTrust Bank) its new president. It works with a fairly diverse array of clients, including individuals, retirement plans, businesses, investment funds and trusts.
Currently holding the No. 2 spot in SmartAsset's list of the top financial advisors in Atlanta, Georgia, Homrich Berg is a fee-only firm, so all of its compensation comes from the management fees that clients pay. This avoids the conflicts of interest found at a fee-based firm, which allows advisors to also earn compensation through commission-based transactions like insurance sales.
Homrich Berg Background
Homrich Berg opened in 1989 and its principal owner is founder and CEO Andrew Berg, who has worked in the financial services industry for more than 30 years. Aside from Berg, the rest of the firm’s ownership shares belong to a collection of around 20 advisory employees.
There are 59 advisors employed by Homrich Berg, and the team’s list of advisory certifications is quite lengthy. Among them are 38 certified financial planners (CFPs), nine chartered financial analysts (CFAs) and 14 certified public accountants (CPAs).
Homrich Berg Types of Clients and Minimum Account Sizes
Homrich Berg works with just over 2,000 clients, more than 1,800 of whom are individuals (either with or without a high net worth). The firm also manages assets for investment companies, pooled investment vehicles, pension and profit-sharing plans, charitable organizations, government entities, businesses and trusts.
Homrich Berg doesn’t typically impose a minimum account size. However, the firm may decide to charge a minimum annual fee to accounts that are less than $500,000 in size. Note that this policy could make the firm’s services cost prohibitive for certain clients.
Services Offered by Homrich Berg
Homrich Berg 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
Homrich Berg Investment Philosophy
Homrich Berg 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 differing economic environments.
Liquidity is also a factor the firm looks at, particularly in the case of ETFs. Overall, Homrich Berg’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 Homrich Berg
For the most part, Homrich Berg charges fees as a percentage of each client’s assets under management (AUM). Although some clients may pay different fee rates depending upon specific circumstances, wealth management and financial planning services adhere to the fee schedule below:
|Investment Management & Financial Planning Fees|
|Assets Under Management (AUM)||Fee Percentage|
For context, the average fee for investment management is 0.95%, according to a 2018 study of 1,500 firms by RIA in a Box. Here is the estimated dollar amount you'd pay in advisory fees based on the size of your account:
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Homrich Berg*|
|Your Assets||Annual Fee Amount|
Generally speaking, the firm does not charge clients any additional fees for financial planning if they are also receiving investment management services. Learn more about advisors' typical costs here.
Homrich Berg Awards and Recognition
Homrich Berg has received many awards in recent years. They include the following:
Barron's Top 100 Independent Wealth Advisors. The firm has received this recognition from 2009 to 2019.
Financial Times Top 300 U.S. Registered Investment Advisors. The firm made this list every year since 2014.
Financial Advisor Top 50 Registered Investment Advisors. Homrich Berg has received this recognition each year from 2010 to 2019.
Forbes Top 250 Wealth Advisors Award. The firm received this award in 2018 and 2019.
InvestmentNews Top 50 Largest Fee-Only RIAs. Homrich Berg received this recognition every year from 2013 to 2019.
What to Watch Out For
Opening an Account with Homrich Berg
To get in touch with Homrich Berg, you can call the firm at (404) 264-1400 or you can send an email to email@example.com. 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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