Atlanta-based Homrich Berg Wealth Management, a registered investment advisor, has introduced its latest initiative, aimed at providing equity participation for non-shareholder employees and new hires. 

The program, intended to offer “meaningful” services, in an effort to retain and attract talent, as the firm is seeking to boost its offerings. 

Employees who participate in the program will be able to gain momentum from any liquidity event or recapitalization. Through the initiative, new recruits will also be eligible to receive equity participation units as part of their offer package, the firm said. 

TPG Growth, an alternative asset manager, and New Mountain Capital, a private equity firm, have provided support for the initiative and have bought minority stakes in Homrich Berg Wealth Management. TPG Growth is the growth equity platform of TPG, a San Francisco-based private equity firm. 

The program was enhanced in collaboration with Ownership Works, a nonprofit organization that assists companies and investors that are seeking to launch broad-based employee ownership programs. 

Last September, Homrich Berg Wealth Management sold a minority stake to TPG Growth. That transaction was valued at approximately $1 billion, according to Reuters. New Mountain Capital also made a minority investment in Homrich Berg in 2021, the firm said. 

In December, Homrich Berg Wealth Management acquired Towson, MD-based WMS Partners, a multi-family office, which manages about $6.4 billion in assets.