Ron Carson’s Group Gets $35M From PE Firm

The wealth manager has some $6.5 billion in assets and has plans to expand

Carson Wealth CEO Ron Carson Carson Wealth CEO Ron Carson

Carson Group Holdings says it is getting an investment of about $35 million from private equity group Long Ridge Equity Partners, which represents about a 30% stake in the firm.

At the same time, the business units of Omaha-based Carson Wealth Management Group and Peak Advisor Alliance are being reorganized under the new parent holding company, Carson Group Holdings. According to a press release from earlier this week, Carson Wealth has some $6.5 billion in assets under advisement; it is affiliated with LPL Financial (LPLA).

“Given their deep expertise with high-growth financial services companies, Long Ridge represents an ideal partner for us at this stage of our company's growth," said Ron Carson, the company's founder and CEO, in a statement. "Long Ridge's capital and strategic support will accelerate our growth and enable us to continue delivering a premier level of service to our clients and advisor partners."

As part of the investment, Jim Brown and Kevin Bhatt of New York-based Long Ridge Equity Partners are joining the Carson board of directors.

(Peak Advisor Alliance offers practice management and related services, while Carson’s latest group, Carson Institutional Alliance, runs a turnkey integrated partnership for wealth management. Since 2012, Carson Institutional has grown to include 37 partner firms in 44 locations.)

"Carson's value proposition deeply resonates with advisors and clients," said Brown, a Long Ridge managing partner, in a statement. "Over the last 30 years, Ron and the Carson team have built an unparalleled brand and reputation within the wealth management community. We are excited to partner with Carson as they continue to build their business and deliver industry-leading advisor and client service."

(Long Ridge was founded in 2007 and has raised over $400 million for investment in the financial services sector.)

 

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