On New Year’s Day in 2024, there will be a new CEO at Homrich Berg.
Thomas Carroll will take over at the Atlanta-based registered investment advisor, succeeding co-founder Andy Berg. Berg will stay on as chairman of the $14 billion RIA going forward, the firm announced Tuesday.
Carroll told InvestmentNews the transition has been years in the making. “He [Berg] hired me four years ago as the presumptive successor and it was my understanding at the time that the transition would be somewhere between three to five years.”
Carroll adds that it was the right amount of time before being Berg’s successor.
“It allows me time to get to know the firm, meet our clients, make sure they understand the transition is going to be business as usual; it allows me to get to know our teammates, and it’s just been perfect timing.”
Carroll joined HB to fulfill the firm’s multiyear transition plan, leveraging his multidecade career in financial services to propel growth across the Southeast. Carroll’s career spans decades at SunTrust Bank, where he worked as both an advisor and executive vice president. He was head of division wealth management and also served as CEO of GenSpring Family Offices, the multifamily office subsidiary of SunTrust Bank.
Moving forward, Carroll says he will focus more on inorganic growth and M&A activity.
He also plans to focus on delivering an exceptional client experience while continuing to scale the firm for the benefit of HB clients.
“As we create that scale, one of the things that we need to focus on is continuing to invest in digital and technology,” Carroll adds. “So, HB will probably embrace technology a little bit more rapidly going forward.”
Carroll holds a bachelor of science in business from Wake Forest University and is a CFP.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
