Wealth Management Firms Whittier Trust, Homrich Berg Join Family Enterprise USA as New Sponsors Supporting Family Businesses
Two large family business wealth management firms, Whittier Trust and Homrich Berg, have joined Family Enterprise USA as sponsors.
Whittier Trust, based in South Pasadena, is one of California’s largest private wealth management firms offering family office and concierge services. Started in 1935 by the Whittier family, pioneers in California real estate and petroleum, Whittier Trust today manages over $20 billion in assets and operates with seven offices in California and Nevada. In the last five years Whittier has doubled its size.
Homrich Berg has over 2700 family relationships nationwide in 46 states, managing over $11 billion in assets. The Atlanta-area based family business wealth management firm focuses primarily on corporate executives, entrepreneurs, families, family trusts and foundations, and not-for-profit institutions. Founded in 1989 by Andy Berg and David Homrich, the partners saw an emerging local need in the financial services industry, especially a need for individualized and fiduciary wealth management services for families, individuals, and not-for-profit organizations.
“Both Whittier Trust and HomRich Berg are leaders in their markets when it comes to managing wealth for multi-generational family businesses,” said Pat Soldano, President of Family Enterprise USA. “We are delighted to have their support for our organization as sponsors,” Soldano said. “I want to thank Whittier Trust’s Executive Vice President and General Counsel Bob Renken and Homrich Berg’s Principal and President Thomas Carrol for their support. We look forward to their insights in helping family businesses prosper.”
Soldano is also President of Family Enterprise USA’s sister advocacy organization, Policy and Taxation Group, based here.
Whittier Trust was started by Max Whittier, founder of early California oil and gas firm, Belridge Oil. In 1979, Belridge was sold to Shell Oil for $3.65 billion, the largest sale of its kind at that time. Through multiple generations, Whittier Trust has grown into the preeminent multi-family office headquartered on the West Coast.
Homrich Berg, founded in 1989, offers several levels of wealth management client service, including one called Family Guide for clients with $1 million – $2 million in investable assets focused on core financial planning and investment management services most relevant to those clients. In 2021, the firm expanded to Palm Beach Gardens, Fla., and has plans to expand with more offices outside of Atlanta.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. Those issues include Step Up in Basis, gift tax, Valuation Discounts, Capital Gains Tax, Income Tax Rates, Wealth Tax, & Estate Tax (death tax).
Policy and Taxation Group is the leading information, education and advocacy organization working for the reduction and ultimate elimination of estate, gift, and generation skipping transfer taxes, and other taxes that punish hard work and success. Our Mission is to challenge hostile tax policies that meaningfully and measurably impact families and limit the ability of family businesses to remain family owned. We work with Congress in Washington DC against high Income Tax Rates, possible elimination of Valuation Discounts, increase in Capital Gains Tax, enactment of a Wealth Tax, and the continued burden of the Estate Tax (death tax), and the possible elimination of Step up in Basis.
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