Homrich Berg, an Atlanta-based RIA integrator with $18 billion in belongings, has employed Tim Tallach as director of superior tax planning and household workplace companies, a newly created function throughout the HB Household Workplace division.
“Tim’s appointment marks a major enhancement in our potential to supply specialised tax steering to purchasers,” Thomas Carroll, president and CEO of Homrich Berg, stated in a press release. “His established observe file in advancing shopper targets by way of modern tax options and household workplace administration aligns with our mission to ship distinctive service.”
Tallach has 28 years of expertise within the household workplace house, most lately as an government managing director and head of the wealth planning group at Pathstone, a personal equity-backed multifamily workplace. Previous to that, he was a managing director at GenSpring Household Workplaces.
On this new function, Tallach will work with the agency’s advisors to supply purchasers with superior revenue and switch tax steering and increase the RIA’s household workplace companies. He will report back to Michael A. Woocher, principal and chief advisory officer at Homrich Berg.
“Rising up working in my household’s enterprise, I realized the significance and symbiotic nature of each function,” Tallach stated in a press release. “From the ground sweep to the c-suite, it takes coordination, communication and an possession mentality to breed success. I’ve utilized these ideas all through my profession and stay up for bringing that collaborative spirit and strategic pondering to my work at HB.”
Tallach’s appointment comes because the agency continues to construct out its household workplace division. Final month, the RIA acquired WMS Partners, a $6.4 billion multi-family workplace and RIA based mostly in Tyson, Md. WMS Companions will turn into a part of the Homrich Berg Household Workplace.
In September, Homrich Berg executives opted to promote a minority stake within the agency to TPG Progress, the center market and development fairness platform of the San Francisco-based private equity firm TPG. Based on Reuters, the deal valued the RIA at round $1 billion.
The agency has additionally been backed by New Mountain Strategic Fairness, an affiliate of the personal fairness agency New Mountain Capital, which made its minority investment in 2021. New Mountain stored its stake within the wake of the TPG deal. In 2022, Homrich Berg completed a debt capital revolver by elevating $75 million in a multi-bank syndication led by First Residents Financial institution, permitting the agency’s homeowners to retain their majority management.
Carroll took over the role of Homrich Berg CEO at the beginning of last year. He succeeded Andy Berg, who’d led the agency since its founding. The transfer was a part of a deliberate transition that started when Carroll was employed in 2020, and Berg remained as chairman of the agency’s board.
