The Baseball Division at BIP Wealth extends its warmest congratulations to every player selected in the 2026 MLB Draft this past weekend! We recognize that this accomplishment culminates years of hard work, sacrifice, and support from a lot of people behind the scenes, and every name called this weekend has certainly earned it.
We would also like to specifically congratulate multiple clients of the Baseball Division at BIP Wealth who were drafted this past weekend! We are honored to support you now and at every step throughout your baseball career and beyond. BIP’s 2026 draft class included several first-round picks and combined slot values for our drafted clients topped $37 million this year.
For these players, the work starts now. They’ll begin their professional baseball careers and work tirelessly to become the best players in the game. Within the next couple weeks, they’ll sign their Minor League Uniform Player Contracts, ship out to their organization’s complex facilities, complete physicals, perform media days, and put a professional baseball jersey on for the first time.
From there, they’ll start the process of working their way through the minor leagues, hopefully en route toward a big league debut—and for some, a shot at a championship. Each player will carve out their own unique path. We’re honored to help them navigate this exciting journey to fulfill a lifelong dream.
BIP Wealth’s Baseball Division is made up of former professional players. Our advisors have sat in the same clubhouses and faced the same questions the families we work with are facing now: what to do with a signing bonus, how to build a plan around a career that could last two years or twenty, and how to think about taxes across a schedule that changes states every few days. That perspective shapes how we work with clients from the moment NIL conversations start in college through the draft and into whatever comes after the game.
Draft day is the headline. The work that matters happens well before and long after it—from signing bonus and cash management before a rookie season starts, to tax planning across multiple states, estate planning, to the eventual transition out of the game. We are here for every step of a player’s career.
What is BIP Wealth’s Baseball Division? BIP Wealth’s Baseball Division is a team of financial advisors and wealth consultants who are former professional baseball players, providing wealth management, tax planning, estate planning, and NIL and signing bonus guidance to baseball players and their families.
How does BIP Wealth’s Baseball Division help players manage an MLB Draft signing bonus? We work with you to build a financial plan around a signing bonus that accounts for taxes, cash flow, and long-term savings, so a player’s bonus supports them well beyond their rookie season. We create a comprehensive plan to support the player’s goals for today and tomorrow.
Does BIP Wealth’s Baseball Division work with players before they’re drafted? Yes! Our Baseball Division advises many players during their high school and college careers, including NIL planning, so they have a financial foundation in place before the draft.
BIP Wealth, LLC (“BIP Wealth”) offers investment advisory services and is registered with the U.S. Securities and Exchange Commission (“SEC”). Registration with the SEC as a registered investment adviser does not imply a certain level of skill or training.
BIP Wealth has partnered with Red Tortoise, a respected Atlanta-based wealth management firm, and we are thrilled to welcome their team and clients to the BIP family.
Red Tortoise was founded by CEO Rex Macey, CFA®, CFP®, a veteran investment professional with more than 30 years of experience. Before starting Red Tortoise, Rex served as Chief Investment Officer at Wilmington Trust, where he led the equity group, asset allocation team, and risk management efforts. He built Red Tortoise on a simple but powerful philosophy: “Eat Well. Sleep Well.” That idea—that great financial advice should give you confidence and peace of mind—aligns perfectly with BIP’s goal of improving the financial lives of our clients.
Joining Rex is a deeply credentialed team that includes Howard Fleming, CFA®, CPA, CFP® and George Chen, CFA®, CIPM®. Together, the Red Tortoise team brings a genuine commitment to goal-oriented, fiduciary wealth management. They’ve built something special in Atlanta, and we’re honored they’ve chosen to build their next chapter alongside us.
Red Tortoise clients can expect continuity in the trusted relationships they already have, now backed by BIP Wealth’s platform, planning capabilities, and resources. The firm will be moving forward under the BIP Wealth name. Their $400M in assets under management will be joining BIP, marking another meaningful milestone in our growth across Georgia and beyond.
“Red Tortoise was built on the belief that clients deserve straightforward, conflict-free advice and a team that genuinely has their back,” said Rex Macey, CEO of Red Tortoise. “BIP Wealth shares that commitment without compromise. This partnership gives our clients access to a deeper platform and wider resources while keeping everything they’ve come to value about working with us. We’re excited about what we can do together.”
“Rex, Howard, and George have earned the trust of their clients over decades as fiduciaries by putting the clients’ interests first,” said Bill Harris, Co-Founder and CEO of BIP Wealth. “That’s who we want joining BIP, and it’s exactly what our clients can count on as we grow. Each team we hand-pick to join our family brings incredible value that we can learn and grow from to serve our clients even better.”
If you’re a Red Tortoise client with questions about this transition, please feel free to reach out. Your advisor relationship remains your most important point of contact, and our teams are here to ensure this process is seamless for you.
For advisors or other firms interested in learning more about partnering with BIP Wealth, reach out to start a conversation.
If you live in Georgia, there’s some genuinely good news coming out of the state capitol.
Governor Brian Kemp recently signed two new tax bills into law: House Bill 463, the Georgia Economic Growth and Tax Relief Act of 2026, and Senate Bill 33, the Homeownership Opportunity and Market Equalization Act of 2026. Together, these laws represent meaningful tax relief for Georgia residents—and depending on your situation, they may have a real impact on what you owe at the state level.
At the signing, Governor Brian Kemp shared, “That approach has allowed us to return billions of dollars to taxpayers, and the legislation I signed today will keep that momentum going as we further lower our state income tax rate, deliver on meaningful property tax relief, and ensure job creators have the opportunity to grow and thrive in the Peach State.”
Let me break these bills down for you.
Georgia’s flat income tax rate is dropping from 5.19% to 4.99%, effective January 1, 2026. And that may not be the final stop. The law allows for additional annual reductions of 0.125%, potentially bringing the rate as low as 3.99% over time, contingent on the state’s economic conditions.
For context: there had been speculation that Georgia might eliminate its state income tax altogether. That didn’t happen—but a rate heading toward 3.99% is still a meaningful shift.
Larger standard deductions
The standard deduction is also getting a bump:
If you typically take the standard deduction on your Georgia return, this change may reduce your taxable income right away.
Higher dependent deductions
The deduction per dependent rises from $4,000 to $5,000, with a path to eventually reach $6,000. For families with multiple dependents, that additional relief may add up.
Expanded retirement income exclusion for those 65 and older
Starting in tax year 2027, taxpayers aged 65 and older may be able to exclude up to $70,000 of retirement income from Georgia state taxes, up from the current $65,000. If retirement income planning is on your radar, this may be worth factoring into your projections.
A temporary break on overtime and tips
For tax years 2026 through 2028, Georgia is temporarily allowing an exemption of up to $1,750 of overtime pay and cash tips from state income tax. It’s a modest provision, but one worth knowing about if either applies to you.
Georgia property taxes have been rising, and this bill is designed to address that.
SB 33 creates a new mechanism called the Local Homestead Option Sales Tax (LHOST). Beginning in 2028, counties and municipalities may place this measure on local ballots. If voters approve it, the resulting sales tax revenue can only be used to offset property taxes for qualifying homeowners — it can’t be redirected elsewhere.
The legislation also makes Georgia’s existing base-year homestead exemption mandatory statewide, which had previously been optional at the local level.
Whether LHOST ends up on your county’s ballot—and whether it passes—will depend on where you live and how local governments choose to act. But the framework is now in place.
Taken together, these two laws reflect a sustained commitment to reducing the tax burden in Georgia. If you’re a Georgia resident, you may see:
Of course, how any of these changes actually affect your tax situation depends on your specific circumstances including your income, filing status, age, and where in Georgia you live. A conversation with your financial advisor can help you understand what may apply to you. Reach out to talk to one of our Personal Wealth Advisors today if you have specific questions about your situation.
This post is intended for informational purposes only and should not be construed as tax or investment advice. Tax laws are complex and subject to change; individual situations vary. BIP Wealth, LLC is a registered investment advisor. Registration does not imply a certain level of skill or training.
BIP Wealth is proud to be recognized on USA Today’s Best Financial Advisory Firms 2026 list, a national ranking created in partnership with global market research firm Statista to help individuals and families identify trusted wealth management partners across the country. Now in its fourth year, the list highlights 1,000 of the most reputable and high-performing registered investment advisory (RIA) firms in the U.S.
What sets this recognition apart is the rigor behind it. The ranking wasn’t simply a measure of who manages the most money. Statista evaluated firms based on AUM growth, both short-term and long-term, alongside recommendations gathered from more than 30,000 clients, industry experts, and fellow financial advisors. That multi-dimensional approach ensures the list reflects firms that have earned trust across a broad range of voices, not just size.
“BIP Wealth is honored to once again be recognized by USA Today,” said Bill Harris, Co-Founder and CEO of BIP Wealth. “This recognition is a reflection of the relationships we’ve built with our clients and the hard work of our entire team. At BIP, we believe that great financial planning starts with truly understanding the people we serve. Being named to this list affirms that our commitment to putting clients first is making a real difference.”
BIP Wealth focuses on the science of investing paired with a deeply human approach, offering clients holistic wealth management, tax planning, estate planning, private investments, and more, each tailored to the individual. The firm’s inclusion on this list for multiple years reflects not only consistent growth but a sustained dedication to the clients and communities it serves.
To learn more about BIP Wealth’s approach to personal wealth management or to take the first step toward planning your financial future, contact us.
The ranking was developed by USA Today in partnership with Statista based on various methodologies, including size, growth, and recommendations received from clients and peers. For further details on the methodology behind the rankings, please visit Statista’s website. BIP Wealth did not pay a fee to participate in these rankings. Rankings are not indicative of future performance or client experience. Investing involves risk, including loss of principal.
Neither rankings nor recognitions by unaffiliated rating services, publications, media, or other organizations should be construed by a client or prospective client as a guarantee that the client will experience a certain level of results if BIP Wealth is engaged to provide investment advisory services. No ranking or recognition should be construed as an endorsement by any past or current client.
If you filed your Georgia taxes before Governor Kemp signed HB 1199 into law, you may need to file an amended return. Here’s what happened and what to do next.
Earlier this week, Governor Kemp signed the Georgia Conformity Bill (HB 1199) into law—and if you’re a Georgia taxpayer, it’s worth a few minutes of your time to understand what it means.
This legislation updates Georgia tax law to align with the federal One Big Beautiful Bill Act (OB3) in most areas. But here’s the important part: Georgia chose not to conform on a couple of key provisions, and those differences could affect your state tax return.
At the federal level, the OB3 raised the State and Local Tax (SALT) deduction cap to $40,000. Georgia, however, voted not to follow suit. The state’s SALT limitation will remain at $10,000.
What does that mean in practice? If you itemized your deductions and included more than $10,000 in state and local taxes—think income tax withholding, property taxes, and ad valorem taxes paid to Georgia or other states—you may need to amend your Georgia return to reduce those itemized deductions back to the $10,000 state maximum.
The federal OB3 introduced provisions eliminating taxes on tips and overtime pay. Georgia also chose not to adopt these. State lawmakers indicated that these policies would require separate legislation, given the significant fiscal implications involved.
So, if you took either of those deductions on your federal return, you may need to file an amended Georgia return adding that income back for state purposes.
The good news? Most self-preparation tax software platforms are already aware of these changes. Some platforms, such as TurboTax have begun notifying affected users directly, and in many cases, amending a return through these platforms can take less than 15 minutes.
If you work with a CPA, I’d encourage you to reach out to your preparer to ask whether your return may need to be amended in light of HB 1199.
The Georgia Department of Revenue has made its position clear: returns filed incorrectly will be expected to be amended. While no formal penalty or interest relief has been announced, a waiver can always be requested. That said, returns amended prior to the April 15th deadline—with any additional tax paid—would generally not be subject to additional penalties or interest.
The bottom line: if this applies to you, it’s worth acting sooner rather than later.
If you have questions about how the Georgia Conformity Bill may affect your specific situation, please don’t hesitate to reach out to our team. At BIP Wealth, we work closely with our clients and their tax professionals to stay ahead of changes like these so you can focus on what matters most.
This content is general in nature and is for informational purposes only. It is not intended as tax advice and should not be relied upon as such. Individual circumstances vary, and taxpayers should consult with their own tax professional before taking action. BIP Wealth, LLC is a registered investment adviser (RIA). Registration does not imply a certain level of skill or training.
BIP Wealth, a Registered Investment Advisor (RIA) headquartered in Atlanta with over $5.5B in assets under management has partnered with Constellation Wealth Capital (CWC) to receive a strategic investment to support BIP’s continued growth. Recently named to Financial-Planning.com’s 2025 Top 150 RIA Fee-only Firms List, as well as the top 3 on the Atlanta Business Chronicle’s 2025 Best Places to Work List for medium-sized companies, BIP Wealth focuses on holistic wealth management and sophisticated planning solutions for high-net-worth individuals and families, institutional clients, and corporate retirement plans. CWC is a partner to growing wealth management firms and known for its flexible, long-term, minority investments. CWC’s deep advisory focus supports the partner firm’s management team scale effectively, while preserving independence.
CWC’s investment builds upon BIP Wealth’s foundational excellence in client service and advisor support. BIP gained $725M in new organic assets under management in 2025 and expects to exceed that benchmark in 2026, in part supported by CWC’s strategic advisory efforts. Additionally, CWC’s investment will provide BIP with capital to further partner with successful wealth management firms and broaden BIP’s impact in the Southeast and beyond.
“We want to offer our client-first, servant leadership model to other firms looking for a solution. Whether a founder is looking for help with their succession plan or wanting to fuel their next stage of growth, we want to partner with like-minded people,” shared Bill Harris, CFP®, Co-Founder & CEO of BIP Wealth. “This partnership with CWC will open new doors of growth in our business that will benefit our clients and our entire team. We have a lot to offer with our deep expertise in private investments and advanced planning capabilities with Estate Planning and Tax Professionals on our team. I’m excited about the future of where BIP Wealth is headed as we continue to grow.”
Announced in 2024, BIP’s acquisition strategy complements its strong organic growth by partnering with culturally-aligned, service-first firms and founders. With more than $1.2B of assets under management added via two new partnerships—The Money Advisor Group in 2024 and Prehmus Financial in 2025—BIP expects CWC’s investment will accelerate its inorganic growth pipeline. Chase Corporate Advisory’s Jeff Singh represented BIP Wealth throughout the process to determine the best capital partner on a go-forward basis and made the initial introduction between BIP and CWC.
“At the end of the day, we want to partner with people who value what we do. We’re looking for people who are fiduciaries first and respect our values,” reiterated Bill Harris. “Our unique investment platform empowers advisors who want flexibility in the portfolio management and planning process. I want to extend our value proposition to advisors not just in the Southeast, but to select other centers of innovation around the country.”
One thing that’s clear is that BIP will continue to be highly selective, yet competitive, as they pursue firms to partner with who share a similar cultural alignment. BIP wants to be the partner of choice for RIAs looking to accelerate growth and expand solutions for clients, while being part of a collaborative culture.
“When we look for qualities in a firm to partner with, the BIP Wealth team checked all the boxes,” expressed Karl Heckenberg, President & Managing Partner of Constellation Wealth Capital. “It’s important to us to partner with people who value partnership and client service. Seeing their impressive organic growth and dedication to clients, we knew we wanted to link arms and help support the growth of the BIP Wealth platform in the future.”
BIP Wealth maintains 5 offices: Atlanta, Alpharetta, Columbus, and Peachtree Corners, GA, and Nashville, TN, while serving clients across the country.
Check out our official Press Release on PR Newswire here.
Private Credit is a large and growing category in the private market investing landscape. With exits harder to come by lately, more companies are adding debt to their capital structure (for several reasons that include avoiding direct dilution of equity). The dramatic increase in importance of private credit to the funding of companies has also led to a proliferation of funding vehicles that investors might participate in. New managers are popping up almost daily, and new vehicle types are emerging too. Co-investments, drawdown funds, public BDCs, private BDCs, and now Interval Funds are all seeing growth. These vehicles are making it easier for retail investors to include private credit in their portfolios.
In the broader credit markets, several trends are unfolding that could have a negative impact on some parts of Private Credit.
First, base rates are falling. The Fed has now lowered the overnight rate, as it should, to remove us from a restrictive stance. Many private credit strategies use floating rate loans, so falling rates will naturally lower yields. Investors should keep in mind that their return is a combination of the yield and the always changing price. Minor fluctuations in price are normal, and investors can expect yields to be lower in 2026 than they were in 2025. The long end of the yield curve is falling too, as the Fed ends quantitative tightening (no longer dumping bonds on the market to decrease its balance sheet, which was draining liquidity out of the system). We are also near a multi-year low point for credit spreads, reflecting that investors are getting paid less to take credit risk.
The combination of new money coming into Private Credit, along with a changing rate structure and price for credit risk, will certainly influence Private Credit in the larger sense. But the devil is in the details, and broad pronouncements that read something like “private credit is in trouble” are not accurate, not helpful, and outright confusing to our clients.
At BIP, we believed this would eventually happen, and we welcome the market pressure. It’s our chance to prove we know what we’re doing. This is the perfect time to show how real knowledge is so much more valuable than just knowing the headlines. Our clients are counting on us at BIP Wealth to get this right. And we have already done our homework to make sure we have a variety of evergreen strategies that we expect to do well in a variety of economic conditions.
Business Development Companies are entities that meet certain regulatory requirements created in 1980 and are close-end funds that distribute 90% of income. We track about 3 dozen publicly traded BDCs, and 2025 returns through 12/31/25 range from +16.75% to -27.38%, with more in negative territory than positive. This is markedly different from the returns we are seeing in the vehicles we’re using, and you may notice that few survived the pullback in credit markets during 2022 unscathed.
BSLs tend to be of lower quality and lack the covenants and remedies that are the hallmark of our strategies. BSLs are originated by banks, securitized, and then traded daily. Some might equate this to juggling chainsaws when credit markets turn sour—you want to drop them as quickly as you can to avoid getting your hand cut off.
These are, by nature, not diversified. But here again, the details are important. Many are convertible notes, which in reality are equity deals that pay a yield to the investor and sit above other equity investments in terms of their priority. We have a long history of enjoying some of our best equity returns from these investments.
We expect to be able to prove to our clients that your trust in us is warranted. But this comes with the obligation to explain our prudent process in a world of scary headlines. If the risky end of the private credit market does start to experience significant stress, some of our clients may become concerned.
If you would like to learn more about our Private Credit strategies and if they might be a fit for you, the BIP Wealth team is here to help. Contact us today to be connected with a trusted advisor.
This post is provided for informational purposes only. Specific investments may not be suitable for all investors and no offer or recommendation of any investment or investing strategy is intended or implied by your choosing to read this post. Privately traded offerings may only be available to investors who meet certain qualification statuses.
This material is not intended to be relied upon as a forecast or investment advice regarding a particular investment or the markets in general, nor is it intended to predict or depict the performance of any investment. Past performance is no guarantee of future results. All investments involve risks including loss of principal.
Prehmus Financial Partners, a wealth management firm specializing in investment management and financial planning, has entered into an agreement to be acquired by Atlanta-based RIA BIP Wealth through a blended cash and equity deal. Through this strategic acquisition, Prehmus Financial clients and future investors will gain expanded access to BIP’s wealth management platform, advanced planning capabilities, and client technology suite. The acquisition increases BIP Wealth’s assets under management to more than $5 billion.
Recently named among SmartAsset.com’s Top 10 RIA Firms in Atlanta and ranked in the Top 3 on the Atlanta Business Chronicle’s 2025 Best Places to Work list for medium-sized companies, BIP Wealth provides investment management and sophisticated planning solutions for high-net-worth individuals and families, institutional clients, and corporate retirement plans.
Prehmus Financial was founded in 1995 by Warren Prehmus with a mission to give clients financial peace of mind by protecting and growing their wealth and organizing their financial lives. The partnership between Prehmus Financial and BIP Wealth strategically unites two firms that share a people-first approach and a deep commitment to client service and community involvement.
“From the first conversation with BIP, our focus has been on how this new partnership will benefit our clients and team members,” said Warren Prehmus. “BIP’s client-first approach aligns perfectly with our values and priorities while expanding our operational capacity.”
“Our clients have been, and always will be, our top priority. The responsibility they entrust to us is critical, and we take that very seriously. This integration with the BIP Wealth team has tremendous potential to add value. While we are in the early stages of determining how to maximize the integration, it’s been very exciting to discuss the future together,” commented Prehmus Financial’s Chief Investment Officer, Chad Edwards. “That being said, BIP Wealth has empowered us to continue to prioritize thoughtfulness and care for our clients over speed during this transition and we are grateful for that. It is an exciting time to be at both BIP Wealth and Prehmus Financial.”
The partnership between Prehmus Financial and BIP Wealth represents a unique opportunity for team members on both sides to build on their pre-existing capabilities. Prehmus Financial team members will gain access to additional planning capabilities and resources, along with a client acquisition and service model that has produced significant client growth and retention. For BIP Wealth, the acquisition continues a growth strategy centered on building value by partnering with well established and highly respected firms.
“The partnership with Prehmus Financial accelerates BIP’s strategic expansion and extends our value proposition as we partner with great people who share our values,” said Bill Harris, CEO of BIP Wealth. “The Prehmus Financial team brings a shared commitment to excellence and lifetime service to their clients. We are excited to welcome them to the BIP family.”
The acquisition of Prehmus Financial, which closed on September 30, 2025, increases BIP’s assets under management (AUM) to more than $5 billion. The entire Prehmus Financial team will join BIP Wealth through the transition. For other advisors or RIAs interested in partnering with BIP Wealth, please reach out to BIP at bipwealth.com/partner-with-us/.
BIP Wealth maintains offices in Atlanta, Alpharetta, Columbus, and now Peachtree Corners, Georgia, as well as Nashville, Tennessee, and serves clients across the country.
About BIP Wealth
BIP Wealth is a leading registered investment advisory (RIA) firm with more than $5B in investment assets under management for its clients, which include high-net-worth individuals and families. BIP Wealth combines precise financial science and industry expertise, offering tailored advisory services and ongoing communication. BIP Wealth gives accredited investors curated direct access to private equity, venture capital, and private credit. There is a focus on technology innovation, as well as a deep commitment to openness and transparency. Founded in 2007, BIP Wealth operates in Atlanta, Alpharetta, Columbus, and now Peachtree Corners, Georgia; and Nashville, Tennessee. Find more information about BIP Wealth at bipwealth.com/.
About Prehmus Financial
Prehmus Financial is a wealth management firm with more than $900M in assets under management (AUM) which specializes in investment management and financial planning. Established in 1995 by Warren Prehmus, the firm added Partners Chad Edwards, Scott Levy, and Drew Prehmus over a decade ago. They will continue to serve families and small businesses across the country. Find more information about Prehmus Financial at bipwealth.com/prehmus.
