Clients
HB Wealth Management serves 5,459 clients, 3,169 of them high-net-worth individuals. The average client has about $5.5 million with the firm, and high-net-worth clients hold 72% of its $30.2 billion in assets.
- Individuals1,639 clients5%
- High-net-worth individuals3,169 clients72%
- Pooled investment vehicles23 clients3%
- Charitable organizations227 clients4%
- Corporations and other businesses358 clients15%
- OtherInvestment companies, Pension and profit-sharing plans, State or municipal government entities1%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 1,639 | $1,433,484,799 | 4.8% | $875K |
| High-net-worth individuals | 3,169 | $21,778,980,748 | 72.2% | $6.87M |
| Investment companies | 1 | $260,681,849 | 0.9% | $260.7M |
| Pooled investment vehicles | 23 | $860,285,672 | 2.9% | $37.4M |
| Pension and profit-sharing plans | 42 | $72,308,397 | 0.2% | $1.72M |
| Charitable organizations | 227 | $1,255,572,842 | 4.2% | $5.53M |
| State or municipal government entities | Not reported | $6,164,413 | 0.0% | — |
| Corporations and other businesses | 358 | $4,490,923,222 | 14.9% | $12.5M |
| Total | 5,459 | $30,158,401,942 | 100% | $5.52M |
- Clients
- 1,639
- Regulatory AUM
- $1,433,484,799
- Share
- 4.8%
- Avg. per client
- $875K
- Clients
- 3,169
- Regulatory AUM
- $21,778,980,748
- Share
- 72.2%
- Avg. per client
- $6.87M
- Clients
- 1
- Regulatory AUM
- $260,681,849
- Share
- 0.9%
- Avg. per client
- $260.7M
- Clients
- 23
- Regulatory AUM
- $860,285,672
- Share
- 2.9%
- Avg. per client
- $37.4M
- Clients
- 42
- Regulatory AUM
- $72,308,397
- Share
- 0.2%
- Avg. per client
- $1.72M
- Clients
- 227
- Regulatory AUM
- $1,255,572,842
- Share
- 4.2%
- Avg. per client
- $5.53M
- Clients
- Not reported
- Regulatory AUM
- $6,164,413
- Share
- 0.0%
- Avg. per client
- —
- Clients
- 358
- Regulatory AUM
- $4,490,923,222
- Share
- 14.9%
- Avg. per client
- $12.5M
Total
- Clients
- 5,459
- Regulatory AUM
- $30,158,401,942
- Share
- 100%
- Avg. per client
- $5.52M
What it does
HB Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, selecting other managers and other activities. It is paid through a percentage of assets, hourly charges and fixed fees.
HB Wealth Management provided financial planning to 5,000 clients last fiscal year and advises 24 private funds.
89.2% of assets ($26.91B across 25,260 accounts) are managed with discretion; $3.25B across 888 accounts are not. 1% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks33%
- Funds40%
- Registered funds34%
- Pooled vehicles6%
- Bonds9%
- State and local bonds6%
- U.S. government and agency bonds2%
- Investment grade corporate bonds1%
- Cash6%
- Other12%
- Direct investments12%
Custodians
HB Wealth Management’s client accounts are held mainly at Charles Schwab, with 68% of managed assets, and Fidelity, with 9%. HB Wealth Management has custody of $8.87B for 4,173 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $20.53B68%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $2.85B9%
- All other custodians$6.78B22%
Ownership and leadership
HBWM Holdings, LLC owns 75% or more of HB Wealth Management, and Thomas Carroll is its CEO.
- Owns 75% or more of HB Wealth Management, LLC
HBWM Holdings, LLC
since November 2024
TPG Growth VI De Aiv Genpar, L.P.
General partner · Control person · since November 2024
- Owns 75% or more of HB Wealth Management, LLC
HBWM Intermediate, LLC
since November 2024
- Owns 75% or more of HB Wealth Management, LLC
HBWM Intermediate II, LLC
since November 2024
- Owns 25% to 50% of HB Wealth Management, LLC
Homrich & Berg, Inc.
Control person · since September 2021
Leadership
- Thomas CarrollChief Executive Officer
- James HennessyChief Financial Officer
- Kyle GlennChief Operating Officer
- William McKinneyChief Compliance Officer
- Andrew BergChairman of the Board
- Samuel GrantManager
- Andrew KlepchickManager
- Robert W MulcareManager
- Robert G RobertsManager
- David TrujilloManager
- Jenny TuManager
Staff
- 325 employees
- 152 in advisory functions
- 139 state-registered reps
- 12 soliciting firms
Reported holdings
HB Wealth Management’s reported 13F holdings total $17.84B across 1,719 positions, and the ten largest make up 48.1% of it.
- $17.84B
- Reported 13F value
- 1,719
- Positions
- 48.1%
- In the 10 largest
- +15.5%
- Value vs. prior quarter
- Vanguard Index Fds · Total Stk Mkt17.3%
- Vanguard Specialized Funds · Div App ETF7.7%
- American Centy ETF TR · US EQT ETF4.3%
- J P Morgan Exchange Traded F · Core Plus BD ETF4.1%
- Vanguard Star Fds · VG TL Intl Stk F4.0%
- J P Morgan Exchange Traded F · Ultra Shrt ETF2.8%
- Apple Inc.2.6%
- State Str SPDR S&P 500 ETF T · TR Unit2.0%
- iShares TR · S&P 500 Grwt ETF1.7%
- SPDR Series Trust · ST Str P500grw1.6%
Together, the ten largest are 48.1% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $17.84B is not its $30.16B in regulatory assets and does not represent any individual client's portfolio.
Fees
HB Wealth Management is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees).
HB Wealth Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, HB Wealth Management has 11 offices, with 12 listed addresses across 6 states.
Georgia · 4 listed addresses
- 3550 Lenox RD Ne, Suite 2700, AtlantaHQ
- 3740 Executive Center Drive, Augusta
- 333 Sandy Springs Circle, Sandy Springs
- 2475 Northwinds Parkway, Alpharetta
Florida · 2 listed addresses
- 3835 Pga Boulevard, Palm Beach Gardens
- 2502 N. Rocky Point Drive, Tampa
Maryland · 2 listed addresses
- 1 W. Pennsylvania Ave, Towson
- 10980 Grantchester Way, Columbia
South Carolina · 2 listed addresses
- 1201 Main Street, Columbia
- 355 South Main Street, Greenville
North Carolina · 1 listed address
- 1942 East Seventh Street, Charlotte
Tennessee · 1 listed address
- 1033 Demonbreun Street, Nashville
Other business names
HB Wealth Management has reported 2 other business names to the SEC.
- HB
- HB Family Office
Registration details
- Legal name
- HB Wealth Management, LLC
- Headquarters
- 3550 Lenox RD Ne, Suite 2700, Atlanta, GA 30326
- Phone
- 404-264-1400
- Website
- www.hbwealth.com
- SEC file
- 801-122595
- Structure
- Delaware LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does HB Wealth Management have?
HB Wealth Management has 5,459 clients and manages $30.2 billion for them, as of September 2026. They include 3,169 high-net-worth individuals, 1,639 other individuals and 358 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 3 September 2026
What services does HB Wealth Management offer?
HB Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, selecting other managers and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does HB Wealth Management use?
HB Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $20,526,300,485 and Fidelity Brokerage Services LLC (Smithfield, RI), with $2,853,807,473. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 September 2026
How many financial advisors does HB Wealth Management have?
HB Wealth Management has 139 investment adviser representatives registered with state securities authorities, out of 325 employees, and 152 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does HB Wealth Management invest in?
At the end of its last fiscal year, HB Wealth Management’s separately managed accounts held 34% registered funds (mutual funds, ETFs, BDCs), 33% exchange-traded equities, 12% direct investments, 6% state and local bonds, 6% pooled vehicles (private funds and similar), 6% cash and equivalents, 2% U.S. government and agency bonds and 1% investment grade corporate bonds. It advises 24 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns HB Wealth Management?
HB Wealth Management’s direct owners are Homrich & Berg, Inc. (25% to 50%), HBWM Holdings, LLC (75% or more), HBWM Intermediate, LLC (75% or more) and HBWM Intermediate II, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 3 September 2026
How does HB Wealth Management get paid?
HB Wealth Management is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file