HB Wealth Lures $15B Charlotte Team From J.P. Morgan

Core Insights - HB Wealth, an Atlanta-based RIA integrator, has acquired a five-person team from J.P. Morgan managing nearly $15 billion in assets, and will open a new office in Charlotte, N.C. [1][2] Company Strategy - The CEO of HB Wealth, Thomas Carroll, emphasized the firm's strategic initiative to expand its presence in the Southeast, addressing a geographical gap between Georgia and Maryland, with the Carolinas positioned in between [2]. - The newly acquired team, led by Matthew Moore, Andrea Smith, and Rebecca Warner, will serve as senior wealth advisors and shareholders, enhancing HB Wealth's capabilities [2]. Market Presence - Carroll noted that the Carolinas have five major metropolitan areas, with the new team having clients across all these submarkets, indicating a strong market presence [3]. - The thriving financial community and growing population in Charlotte make it a strategic location for HB Wealth to better serve the Southeast market [3]. Company Background - HB Wealth recently rebranded from Homrich Berg to unify its offices under one name, with its founding dating back to 1989 [4]. - The firm has initiated an equity participation program for non-shareholder employees and new hires, supported by minority investors TPG Growth and New Mountain Capital [5]. - In December 2024, HB Wealth completed its largest acquisition by merging with WMS Partners, a multi-family office and RIA based in Towson, Md. [5]