Carson Wealth Management has switched broker-dealers, two months after news leaked that the team was making the move.
Led by Ron Carson, the group has been affiliated with LPL Financial since 1989. Its website now says it trades securities through Cetera Advisor Networks and has 13 wealth advisors.
Carson Wealth had $2.6 billion of assets with LPL, $1 billion on its advisory platform and $1.6 billion on its brokerage platform, as of Oct. 31; according to Forbes, the advisor and affiliated organizations work with $6.6 million in total assets.
“This was a timely and pivotal win for Cetera likely helping them in their recruiting goals for 2017,” said Jon Henschen, an independent-advisor recruiter. “It will also help to distance themselves from their past with [Nicholas] Schorsch and reflect a clean slate of new opportunity. I can only assume that Cetera [Financial] Group’s new CEO’s history with LPL helped in landing Carson Wealth.”
Cetera Financial Group is currently lead by Robert Moore, who was president of LPL Financial from May 2012 to March 2015. In March 2015, Moore joined the executive board of Carson Institutional Alliance, a support platform for RIAs, after leaving LPL; he is no longer listed as a board member as of Thursday.
“Recruiting often times is about momentum, and landing a large high-quality group can help greatly in establishing recruiting momentum as well as recruiting credibility for the broker-dealer as a whole,” Henschen explained.
Carson Wealth has offices in Omaha, Nebraska; Vincennes, Indiana; and San Rafael, California.
(Calls to Cetera Financial Group and Carson were not returned.)
Carson, Cetera Past