Carson Wealth Management Group, an Omaha, Neb., based independent investment and wealth manager, announced it will become an independent SEC-registered investment advisory firm.
The company, which has long been affiliated with LPL, decided to make the shift as part of its continued growth strategy. Carson, which has $3 billion in assets under management, plans to also add a broker-dealer arm later this year.
Ron Carson, the founder and CEO of Carson Wealth, said it plans to continue to use LPL as its clearing firm and as its primary custodian. By becoming an RIA, Carson hopes to “optimize pricing arrangements for clients, offer enriched technology platforms, and enhance real-time communication and rationale for portfolio transactions”
Carson Wealth, which was founded in 1983, will also maintain its relationships with TD Ameritrade and Charles Schwab Institutional. When the new broker-dealer opens, LPL Financial will be its sole provider of clearing services.
“We realize that the marketplace is demanding more and more from advisors,” Carson said. “We want to continue to stay ahead of the competition and this required a move to our own RIA. I am excited to announce this new endeavor designed to further support our clients, and couldn’t be more thrilled to continue our relationship with LPL who has been, and will remain, a trusted partner.”
Bill Dwyer, the president of national sales and marketing at LPL, said he doesn’t expect Carson’s move with change anything for LPL’s assets under custody. “Ron Carson has stated his intention to continue to keep client assets that he currently has with us,” He said.
Dwyer said he expects all of Carson Wealth’s advisory assets and brokerage assets that are custodied with LPL under its corporate RIA will stay custodied with LPL under Carson’s own new RIA on LPL’s RIA platform.
“These assets represent the vast majority of assets under Ron’s management,” Dwyer said.
Dwyer said that “Ron’s next steps” are “an opportunity to work together to grow Ron’s business, as we have done over the past 20 years.”