Carson Group is totally buying an Iowa-based unbiased Carson agency managing about $1 billion in consumer belongings.
The Omaha, Neb.-based Carson Group revealed it is going to totally purchase Carson Wealth Cedar Rapids, together with its second location in Las Vegas. Russ Nieland, a managing director and advisor with 27 years within the business, leads the agency. In accordance with his BrokerCheck profile, his background contains stints with TD Ameritrade, LPL Monetary and Cetera.
“Our resolution to develop our partnership with Carson Group is our method of making certain our legacy and making certain the multigenerational possession construction we established can proceed to develop and meet the varied wants of our shoppers,” Nieland mentioned in an announcement.
Carson’s setup contains roughly 50 fully-fledged Carson Wealth places and greater than 150 associate places of work all through the nation. The agency works with about 51,000 consumer households and manages roughly $38.5 billion in belongings.
The acquisition of the Cedar Rapids and Las Vegas places comes after a tumultuous yr for Carson Group, together with a number of high-profile executives’ departures.
In April, CEO and Board Chairman Ron Carson stepped down whereas retaining majority possession, with Managing Associate and Chief Technique Officer Burt White taking up as CEO. Carson claimed the transfer was to commit extra time to his “household’s humanitarian impression.”
Envestnet alum Dani Fava took White’s former place within the aftermath, whereas former LPL govt Heather Randolph Carter turned the agency’s chief advertising officer. Orion alum Daniel Applegrath joined as chief monetary officer to interchange Nick Engelbart, who now oversees the agency’s M&A technique.
In December, Aaron Schaben, a divisional president at Carson Companions, left the agency to be the CEO of Ron Carson’s household workplace. Only one week prior, Carson Group President Teri Shepherd introduced she’d be leaving the corporate, with CEO Burt White saying the agency supported her resolution to “deal with her household.”
In July 2019, Carson named Shepherd and Schaben co-presidents (although Schaben had since taken on a unique position at Carson Companions).
Carson Group is also facing a lawsuit from its former CMO, Mary Kate Gulick, who claimed the agency’s inaction when dealing with an alleged sexual assault by a agency worker at an business convention (and Carson allegedly deciding to maintain the worker on the firm) left her psychologically scarred.
Carson claimed she was ultimately let go by White, who allegedly advised her she oscillated between “greatness, and, I don’t know, unhappiness.” In a response to WealthManagement.com on the time, a Carson Group spokesperson mentioned the agency would “unequivocally dispute” the allegations. The case is ongoing in Nebraska federal court docket.
