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Carson Group to Slash Tech Costs for Partner Firms

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From left: Michael David of Carson Group, Tom Ruggie of Ruggie Wealth Management, Teri Shepherd and Ron Carson of Carson Group. (Photo: Jeff Berman/ALM) Michael David (left) of Carson Group, Tom Ruggie of Ruggie Wealth Management, Teri Shepherd and Ron Carson of Carson Group on stage at TD Ameritrade’s LINC 2020 event. (Photo: Jeff Berman/ALM)

Carson Group will start covering technology costs for its partner firms starting April 1, the Omaha, Nebraska-based firm said at this week’s Technology Tools for Today Advisor Conference in San Diego.

The firm will pick up the tab for software platforms from Salesforce, Orion, Smarsh and Egnyte in April and include eMoney on May 1.

The initiative means that “instead of spending time and money evaluating and adopting technology, wirehouse advisors, IARs and RIAs in the Carson Partners network can now, more than ever, focus on what matters and maximize the value they deliver to the families they serve,” said Carson Group.

The firm’s latest milestone, reaching $12 billion in assets under management, is a “testament to our advisors and their dedication to serving nearly 32,000 families across” the U.S., according to Carson President Teri Shepherd. “We want our partners to have the resources to continuously reinvest in optimization and growth.”

And “paying for the tech stack is the latest example of our commitment to helping advisors serve their clients while empowering them to focus on being the CEO of their business,” she added.

Last year, Carson Group said advisors using its Carson client-experience (or CX) platform would be given plans with discounted services expenses and other cost savings. For instance, it now has no charges for Orion Advisor Services fees within advisory accounts, which should lead to average cost savings of more than $22,000 per advisor firm, it said.

“I cannot tell you how exciting it is to be part of this movement Ron Carson has built. I am already making plans to reinvest 100% of the savings back into growth this year,” said Bob Huntley, founder and wealth advisor of Texas-based Carson partner firm Wise Counsel Wealth Management, in a statement.

Carson Group includes Carson Wealth, Carson Coaching and Carson Partners.