Ron Carson stepping down as CEO of Carson Group

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More than 40 years after financial advisor and registered investment advisory firm entrepreneur Ron Carson started his career, he's stepping down from the role of CEO of Carson Group.

In an immediate transition to chairman of the firm — with the retention of his majority ownership of the Omaha, Nebraska-based RIA with $35.5 billion in assets under management — Carson will hand the reins of the company to managing partner and chief strategy officer Burt White, the firm announced April 9. Carson began his tenure in the industry by selling insurance out of his college dorm room in 1983. Today the firm has a network of 150 partners with 50,000 client households, as well as a giant coaching and training business for advisors.

"As we have advanced our mission, I realize that to continue to be a growth leader in the RIA space, we must adopt a bifocal ability to execute on what's right in front of us while also innovating and anticipating the needs of our advisors — and clients — years and even decades from now," Carson said in a statement. "Since joining Carson in 2022, Burt has exceeded my expectations. Under his leadership, he has transformed our investments platform and led our organization in one of our most successful growth years to date. His strategic vision and innovative drive will be instrumental as we continue to navigate an ever-changing industry."

White knew Carson well before moving to the firm; he previously was chief investment officer for 14 years at LPL Financial, which Carson's RIA used as its brokerage for 28 years before Carson decamped in a high-profile move to Cetera Advisor Networks in 2017. Carson later proved adept at recruiting advisors and teams from his prior brokerage. While Carson himself has dropped his FINRA license, his firm has retained Cetera and remains one of the preeminent examples in the industry of a large hybrid RIA and office of supervisory jurisdiction. 

The firm has expanded on an accelerated basis in recent years on the strength of recruiting, M&A deals and multiple capital infusions from private equity firms. At the time Carson moved to Cetera, the firm managed $3 billion in client assets. When Bain Capital bought a 29% stake in Carson Group that valued the firm at $1 billion in 2021, it had $17 billion. 

Carson Group's announcement stated explicitly that Carson chose White as his successor.

"I want to thank Ron for his trust and confidence and for his continued friendship and partnership," White said in a statement. "It's an honor to build on the foundation Ron has laid and to partner across Carson Group's dynamic and talented leadership team to continue to expand and deepen our value proposition for advisors and investors. It's exciting work and I'm incredibly energized by the opportunities ahead."

Carson Group President Teri Shepherd will stay in that role and report to White as CEO.

"Anyone who has spent time with Burt knows the most important thing to him is an unwavering focus on serving our advisors at the highest level and ensuring they can add value to their clients in new ways," Shepherd said. "I look forward to continuing to build on all that we have accomplished so far."