Homrich Berg announces C-suite change

Homrich Berg announces C-suite change
Thomas Carroll to replace Andy Berg at the RIA's helm in 2024.
SEP 12, 2023
By  Josh Welsh

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.

Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.