What does HB Wealth do?
HB Wealth is a large, well-established financial advisory firm.
Founded in 1989 (originally as Homrich & Berg), the firm is one of the biggest fee-only registered investment advisers in the country, managing nearly $26 billion in assets.
As of May 31, 2025, HB Wealth reports approximately $25.9 billion in regulatory assets under management (RAUM), including about $22.0 billion in discretionary and $3.8 billion in non-discretionary assets.
HB Wealth is among the 50 largest registered investment adviser (RIA) firms in the United States and is recognized as a top-10 fee-only RIA.
The firm serves clients in 48 states and employs more than 300 professionals across twelve offices. Many of its wealth advisors hold or are pursuing professional designations such as the CFP® (Certified Financial Planner™) and/or CFA® (Chartered Financial Analyst).
Who HB Wealth serves:
- Individuals
- High net worth individuals
- Corporate pension and profit-sharing plans
- Charitable institutions
- Foundations and Endowments
- Trusts
- Private investment funds
- A registered investment company
What services does HB Wealth offer:
HB Wealth focuses on two primary areas to provide a complete wealth management experience.
Investment management
This is the core of what they do. Your advisory team will build and manage a portfolio customized to your specific goals and risk tolerance. They use a mix of common investments, such as ETFs and mutual funds, but can also include individual stocks and bonds.
For eligible clients, HB Wealth also provides access to alternative investments, which are opportunities not typically available to the public, such as:
- Private equity and real estate funds
- Hedge funds
- Other private investment deals
Your portfolio is continuously monitored and rebalanced as needed to keep it aligned with your long-term strategy.
Financial planning
HB also provides financial planning services tailored to a client’s financial circumstances and long-term goals.
Planning areas may include:
- Cash flow planning
- Tax planning
- Retirement planning
- Estate planning
- Insurance planning and risk management
- Education planning
- Charitable giving
Investment philosophy and approach
HB Wealth does a lot of homework before putting your money to work.
They use a blend of quantitative (number-based) and qualitative (people-based) research to select investments.
This means they look at performance data and risk metrics, as well as the strength and consistency of the team managing a particular fund.
For more complex alternative investments, they do an even deeper dive, reviewing everything from the fund's valuation policies to its legal terms to ensure it's a good fit.
The firm emphasizes diversification and is transparent about the risks involved in investing, including market volatility and inflation.
What are the pros and cons of HB Wealth?
HB Wealth offers a deep, personalized service, but its structure is designed for a specific type of client.
Here’s a breakdown of the key pros and cons to help you make a decision.
Pros of HB Wealth:
- Comprehensive wealth management services: Investment management and financial planning, covering tax, retirement, estate, and insurance planning.
- Access to alternative investments: Eligible clients may invest in private equity, private real estate, hedge funds, and other private investment vehicles.
- Primarily discretionary portfolio management: Most accounts are managed on a discretionary basis, allowing the firm to implement portfolio decisions efficiently without requiring trade-by-trade approval.
- Fee-only fiduciary model: HB operates as a fee-only fiduciary firm, meaning it is compensated directly by clients rather than through commissions.
- Advisor-led approach suited to complex financial situations: Services are delivered through dedicated advisor teams rather than an automated platform. The firm states that it works with individuals, families, business owners, executives, professionals, retirees, and women investors and provides advice tailored to varying levels of financial complexity.
Cons of HB Wealth:
- Minimum annual fee generally applies: While there is no stated minimum relationship size, HB generally imposes a minimum annual fee of $12,500.
- Additional underlying investment costs: Clients may incur internal management fees and expenses from mutual funds, ETFs, private funds, and custodian-related charges.
- Alternative investments are limited to eligible investors: Certain private funds and alternative investments are limited to accredited investors, qualified clients, or qualified purchasers.
- Not a robo-advisory platform: HB provides advisor-led services rather than an automated digital investment platform.
HB Wealth fees: How much does HB Wealth cost?
HB Wealth primarily charges an annual fee based on the amount of assets they manage for you. Fees are negotiable but generally follow a tiered schedule that decreases as your assets grow.
Critically, the firm generally has a minimum annual fee of $12,500.
Here is their standard annual fee schedule for combined financial planning and investment management:
Financial planning and investment management services
| Market value of portfolio | Annual fee |
|---|---|
| First $1,000,000 | 1.25% |
| Next $4,000,000 | 1.00% |
| Next $5,000,000 | 0.75% |
| Next $20,000,000 | 0.63% |
| Over $30,000,000 | 0.50% |
Investment management services
| Market value of portfolio | Annual fee |
|---|---|
| First $1,000,000 | 1.25% |
| Next $1,000,000 | 1.00% |
| Next $3,000,000 | 0.75% |
| Next $5,000,000 | 0.625% |
| Over $10,000,000 | 0.50% |
For their wealthiest clients (Family Office level), the firm may use a flat fee or a combination of a flat fee and a reduced asset-based fee.
Additional costs to know
The advisory fee is not the only cost. You may also incur other charges, including:
- Brokerage commissions and transaction fees
- Custodial fees (for holding your assets)
- The internal management fees of any mutual funds, ETFs, or private funds in your portfolio
What is HB Wealth’s minimum account size?
While HB Wealth doesn't state a hard-and-fast account minimum, its fee structure and service tiers tell the story. The firm’s $12,500 minimum annual fee creates a practical floor. For example, at their starting 1.25% fee rate, you would need a $1 million portfolio just to meet that minimum fee.
The firm also outlines its service tiers based on asset levels:
- Family Guide is designed for clients with $1 million to $2 million in investable assets.
- Family CFO is structured for portfolios ranging from $2 million to $25 million.
- Family Office services are intended for portfolios over $25 million
HB Wealth structures its services around asset-based tiers beginning at approximately $1 million in investable assets, with more complex service models available as portfolio size increases.
While no universal minimum is disclosed, the firm’s service segmentation and minimum annual fee indicate that it primarily serves higher-net-worth clients.
Who should choose HB Wealth?
HB Wealth is built for affluent individuals and families who want a dedicated, expert team to act as their personal financial quarterback.
It could be a good fit if you:
- Are a high-net-worth individual or family: With service tiers starting at the $1 million level, the firm is structured to handle the needs that come with significant wealth.
- Are a business owner or executive: The firm has deep experience helping clients navigate complex situations like selling a business, managing stock options, and planning for retirement.
- Have multi-generational wealth: The Family Office service is designed to handle the complexities of managing wealth across generations.
- Want a true fiduciary partner: If you prefer a fee-only model where your advisor’s success is directly tied to yours, their structure will be appealing.
It might not be the best choice if you:
- Are just starting to invest: The firm's high minimum annual fee makes it inaccessible for those with smaller portfolios.
- Want a low-cost, digital solution: HB Wealth is a traditional, high-touch firm, not a robo-advisor.
- Are a hands-on, DIY investor: The model is designed for delegation, not for active traders who want to manage their own portfolios.
HB Wealth: Is it secure?
HB Wealth is registered with the U.S. Securities and Exchange Commission (SEC), which holds it to high regulatory and fiduciary standards.
Critically, your assets are not held by HB Wealth itself. They are held with a separate, independent custodian, such as Charles Schwab or Fidelity Investments. This is a fundamental safety measure that separates the people managing your money from the institution holding it.
The firm also maintains a comprehensive cybersecurity program to protect your personal data.
HB Wealth: Customer service
HB Wealth provides advisor-led client service through dedicated wealth advisor teams, rather than through a call center or automated support model. Clients typically work directly with a lead advisor supported by advisory and service associates.
In addition to advisor relationships, the firm offers general contact channels through its offices, including phone, email, and fax communication, as listed on its website. The firm operates multiple office locations across the United States.
For certain service tiers, such as the Family CFO offering, HB highlights investment portfolio design, tax-efficient management, and online 24/7 access to performance reporting.
Portfolio reporting is supported through its reporting platform, which provides clients with ongoing access to holdings and performance data.
HB’s model centers on direct advisor relationships; customer service is structured around ongoing advisory engagement rather than on-demand digital support tools or chat-based assistance.
HB Wealth: Mobile app
The firm does not advertise a dedicated proprietary mobile application.
HB uses a third-party provider for portfolio accounting and client performance reporting. Clients have online access to view portfolio holdings, performance, and other portfolio attributes, with market values updated daily.
Is HB Wealth worth it?
For the right client, HB Wealth can be an excellent partner. If you are a high-net-worth individual or family looking for a comprehensive, fee-only firm to manage your entire financial life, their all-in-one service model is very compelling. The combination of expert investment management, in-depth financial planning, and access to exclusive investments is a powerful advantage.
However, this is a premium service designed for a specific clientele. The high minimum fee and hands-on approach mean it is not for everyone. If you have the assets to meet their minimums and you value a deep, long-term relationship with a fiduciary advisor, HB Wealth is definitely worth considering.
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