Carson Group Acquires $200M AUM Waltham Firm

Acquisition provides five-person firm with a solid growth strategy as Carson Group expands its East Coast presence.

OMAHA, Neb., Dec. 1, 2022 /PRNewswire/ -- Carson Group today announced the acquisition of Northface Capital Holdings, LLC, a full-service financial planning and wealth management firm with $200 million in assets under management.

The Northface team, now led by Chris Tobey, sold its ownership in the firm to Carson for several reasons. Key was the desire to allow the team to focus on future opportunities while enabling Tobey to lead the firm's growth strategy and provide continuity for the firm's stakeholders and clients now and well into the future.

"Transitioning to a wholly-owned Carson Wealth office will allow us to enhance how we serve our clients," explains Tobey. "Our decisions are based on what is in our clients' best interest and this will put our team and clients in a better position."

According to a 2018 study by the Financial Planning Association, only 27% of financial advisors have a succession plan in place, even as 93% recognize that the lack of a plan poses a risk to their livelihood.

"Carson's business model accommodates many advisors' growth and operational needs, but providing a smooth transition plan where one advisor can pass the reins to the next generation and know that their clients will be taken care of is one of the most powerful," said Nick Engelbart, chief financial officer at Carson Group. "In many cases, that may mean partnering with Carson to leverage our practice management support, in other scenarios that could be transitioning into a partly owned or wholly owned office."

Tobey adds, "Having been a Carson partner for almost three years, I have seen how there is no complacency. The company's enduring goal is to continually provide advisors with the best tools and resources."

The Waltham location will be the sixth wholly owned Carson Wealth office in the U.S.

"We see Carson Group as a long-term partner that will allow us to succeed and grow into the future."

Carson Group currently manages $20 billion in assets and serves more than 44,700 families through its advisory network, including 135 partner firms and 35 Carson Wealth locations, some wholly owned and some with a minority stake. For more information, visit www.carsonwealth.com.

Founded in 1983 by Ron Carson and headquartered in Omaha, Nebraska, Carson Group serves financial advisors and investors through its three businesses – Carson Wealth, Carson Coaching, and Carson Partners. Carson Group has created an ecosystem dedicated to helping financial advisors unleash the full potential of their firms by providing marketing, compliance, technology, investment strategies, succession planning, M&A support, and coaching. The company currently manages $20 billion in assets and serves more than 44,700 families among its advisor network of 135 partner offices, including 35 Carson Wealth locations. For more information, visit www.carsongroup.com. 

Carson Partners offers investment advisory service through CWM, LLC, an SEC Registered Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors. Carson Coaching and CWM, LLC are separate but affiliated companies and wholly owned subsidiaries of Carson Holdings, LLC. Carson Coaching does not provide advisory services. Securities offered through Cetera Advisor Networks LLC, Member FINRA/SIPC. Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor. Cetera Advisor Networks LLC is under separate ownership from any other named entity.

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SOURCE Carson Group