In the intricate world of wealth management, where trust, strategy, and personal relationships converge, WMS Partners LLC has long stood out as a beacon of client-focused service. Founded in 1993 in Towson, Maryland, WMS Partners built a reputation as a multi-family office dedicated to high-net-worth clients, overseeing more than $6 billion in assets under management. Its approach blended fiduciary investment management, holistic financial planning, and family office services designed to preserve wealth across generations.
Over more than three decades, WMS Partners LLC established itself as a firm where every decision was measured against the principle of acting in the client’s best interest. The firm’s open-architecture investment model allowed advisors to select the most appropriate strategies from public and private markets, while its planning services addressed estate strategy, tax considerations, and family legacy planning. Clients benefited not just from financial acumen, but from guidance aligned with their broader values and long-term goals.
The landscape of wealth management, however, has changed dramatically in recent years. Increasingly, larger national platforms with broader resources and advanced technology solutions have reshaped client expectations and industry dynamics. Against this backdrop, WMS Partners made a strategic decision in 2024: to join HB Wealth Management, a growing fee-only fiduciary firm with a national presence. The acquisition, completed in early 2025, integrated WMS’s operations into a larger platform while maintaining the firm’s client-first ethos and personalized service. This union represented both a culmination of WMS’s legacy and a strategic step forward in serving high-net-worth clients in an evolving financial environment.
The Origins and Philosophy of WMS Partners
From its inception, WMS Partners distinguished itself through its commitment to independence, transparency, and fiduciary responsibility. As a multi-family office, the firm offered services traditionally reserved for single-family offices, including investment management, estate and tax planning, family governance, and legacy advisory. The “open architecture” model enabled advisors to choose the best solutions for clients without being limited to proprietary products or services, fostering both flexibility and objectivity.
Fiduciary duty was at the heart of WMS’s operations. By adhering to a strict fee-only model, the firm ensured that all advice was given solely in the client’s interest, free from potential conflicts inherent in commission-based arrangements. This focus cultivated trust, a cornerstone of the firm’s relationships that often spanned decades and multiple generations.
WMS also embraced an internal ownership culture that strengthened continuity and institutional knowledge. By inviting senior advisors to become shareholders, the firm reinforced alignment between leadership and clients, ensuring that long-term planning and legacy considerations were embedded in the firm’s governance structure. This combination of fiduciary commitment, customized solutions, and institutional stability established WMS Partners as a respected leader among multi-family offices in the United States.
Core Services and Client Focus
WMS Partners provided a comprehensive suite of services tailored to high-net-worth individuals, families, and business owners. These included:
Fiduciary Wealth Planning and Investment Management: Crafting diversified portfolios across public and private markets, with a focus on risk-adjusted returns and tax efficiency.
Family Legacy Advisory: Assisting clients with estate planning, intergenerational wealth transfer, philanthropy, and family governance.
Tailored Strategies for Business Owners and Professionals: Offering guidance on business succession, liquidity events, and financial planning for executives and entrepreneurs.
Life Transition Planning: Supporting clients through major life events such as retirement, divorce, or generational shifts, integrating financial, tax, and estate considerations.
By aligning financial strategies with each client’s values, aspirations, and family dynamics, WMS delivered a level of personalized service often associated with boutique wealth management firms, yet with the infrastructure and capabilities of a multi-family office.
The Strategic Acquisition by HB Wealth
In late 2024, WMS Partners announced a significant strategic move: its acquisition by HB Wealth Management, a national fee-only fiduciary firm. HB Wealth, known for its comprehensive wealth management and family office services, sought to expand its national footprint and deepen its multi-family office capabilities. The merger, finalized in early 2025, integrated WMS’s $6 billion in assets and advisory expertise into HB’s platform, which already managed a substantial client base across multiple states.
Key elements of the acquisition included continuity for clients and leadership alignment. WMS shareholders became owners within HB Wealth, ensuring that the values and principles guiding WMS’s operations remained influential in the combined entity. Additionally, key members of WMS’s team retained leadership roles, preserving client relationships and institutional knowledge while accessing the resources and technological capabilities of a larger platform.
The merger reflected a broader industry trend: the consolidation of boutique family offices into larger platforms capable of delivering sophisticated services at scale. For HB Wealth, WMS’s expertise in estate planning, private market investing, and intergenerational wealth advisory strengthened the firm’s offerings, creating a robust platform for high-net-worth clients navigating complex financial landscapes.
Maintaining Client-Centric Service Amid Expansion
For clients, the transition from WMS Partners to HB Wealth Management was positioned as a seamless experience. Both firms emphasized shared fiduciary values, transparent fee structures, and a commitment to personalized planning. The integration allowed clients access to enhanced analytical tools, risk management resources, and investment options without sacrificing the individualized attention and continuity that characterized WMS’s approach.
From the advisor perspective, the merger offered opportunities for professional growth, collaboration across a larger team, and access to advanced technology and research capabilities. Leadership continuity was maintained through key WMS personnel assuming senior roles within HB Wealth, ensuring that both cultural and operational elements of WMS were preserved.
The acquisition exemplified how a boutique firm’s ethos and culture could be scaled within a national platform. High-net-worth clients benefit not only from the expanded capabilities but also from the reassurance that long-standing fiduciary principles remain intact.
Legacy and Industry Impact
The WMS Partners story, culminating in its integration into HB Wealth Management, illustrates the evolution of multi-family offices in the United States. The firm’s legacy lies in its unwavering commitment to client-first service, fiduciary excellence, and holistic wealth management. Its acquisition underscores the value of scale, technological investment, and expanded service capabilities in addressing the complex needs of affluent clients in a competitive landscape.
While WMS Partners no longer operates under its original name, its philosophy continues to influence HB Wealth’s approach to client service. The combination demonstrates how firms can grow and evolve while honoring the trust, relationships, and values that defined their foundation. For the wealth management industry, the integration is a case study in balancing tradition with innovation, ensuring that multi-generational wealth is managed effectively for current and future families.
Conclusion
The acquisition of WMS Partners LLC by HB Wealth Management represents both continuity and transformation in the wealth management sector. It preserves the client-focused ethos of a trusted multi-family office while leveraging the scale, technology, and resources of a national platform. For clients and advisors alike, the merger signals new opportunities for sophisticated planning, seamless service, and strategic growth. Above all, the story of WMS Partners illustrates how a firm’s legacy can endure even as it adapts to the changing dynamics of modern wealth management.
Frequently Asked Questions
What was WMS Partners LLC?
WMS Partners was a Maryland-based multi-family office providing fiduciary wealth management and planning services for high-net-worth clients.
Who acquired WMS Partners?
HB Wealth Management completed the acquisition of WMS Partners in early 2025, integrating its operations and client services.
What services did WMS Partners offer?
Services included fiduciary investment management, estate and legacy planning, family office support, business owner guidance, and life transition planning.
How did the acquisition impact clients?
Clients gained access to broader resources, technology, and investment options while maintaining personalized fiduciary service and continuity of relationships.
What is a multi-family office?
A multi-family office manages the wealth of multiple high-net-worth families, providing comprehensive investment, estate, tax, and legacy planning services.
