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Carson Group Sees $3B in Asset Growth for ’18

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Carson Group — which is led by Ron Carson and includes Carson Group Coaching — said its revenues grew over 240% in the past five years and that 20 new partner firms joined its ranks in 2017.

Its wealth operations now include 49 partner advisory firms and their 164 advisors, who have nearly $5 billion in assets under management and close to $11 billion in assets under advisement.

These advisors are upbeat on the year ahead. While they potentially have as much as $10.16 billion in assets under advisement in their business pipeline, the Carson Group says it could add as much as $3 billion in new AUA in 2018 by bringing in new partner firms.

It also announced plans to introduce a second-generation release of its Digital Client Experience, which helps advisors and clients by eliminating duplicative data entry, according to the firm.

Meanwhile the coaching program increased from 1,100 firms in December 2016 to more than 1,250 firms in December 2017.

“Each of these metrics underscore the ongoing investment we are making to become one of the select few powerhouse partners for advisor growth,” said Carson in a statement.

“We’re committed to providing unparalleled value to advisors,” Carson explained, “leveraging our ongoing research to identify and address the primary ‘anchors’ that are holding them back and the ‘engines’ that are propelling them forward.”

Late last year, Carson Group polled close to 200 advisors and industry executives to identify challenging business-growth “anchors” and compelling “engines.”

This survey revealed that advisors see difficult broker-dealer relationships as one “anchor.”

The firm also finds that advisors who are highly engaged — actively pursuing growth and utilizing Carson Group tools and resources —have been growing assets at almost 40% annually over the past two years.

Tech Troubles?

Another frustrating “anchor” is technology, the group’s research revealed, with advisors says that selection, customization and integration of IT resources is challenging.

At the same time, advisors say technology is “the most essential pillar to remain competitive in the future.

The firm says that its Digital Client Experience, launched in the first half of 2017, has brought in about $119 million in new-account AUM and generated 635 prospective-client leads.

Its latest version of the tools aims to further streamline the new business pipeline and onboarding process and is being testing via a pilot program.

“We’ve invested $52 million over the past five years in our internal infrastructure, data warehouse and, most recently, in the development of new client-facing technology,” said Teri Shepherd, chief operations officer of Carson Group, in a statement.

Carson concluded: “The groundwork we’ve laid throughout the past 18 months is quickly coming to fruition. 2018 promises to be another record-setting year for us and, more importantly, for our advisors and their clients.”


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