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April 09, 2024 at 12:18 PM
What You Need to Know
- The firm's founder will become chairman of the board, and Burt White will take over as chief executive.
- Carson said he intends to remain closely involved in the organization.
- Burt White's new role as CEO reflects a shift at RIAs away from sales-oriented leadership to an emphasis on “taking great care of clients and the firm,” says industry veteran Larry Roth.
Carson Group announced Tuesday that founder and longtime CEO Ron Carson is stepping down from his role and will become chairman of the board. Replacing him in the CEO role will be managing partner and chief strategy officer Burt White.
Carson has spent over 40 years in the financial services industry, having built Omaha-based Carson Group into one of the fastest-growing RIAs in the country. The firm oversees some $35.5 billion in assets under management across more than 150 partners.
In describing his decision, Carson said he is proud of the legacy Carson Group is building and of the growth of the independent advisor community.
“As we have advanced our mission, I realize that to continue to be a growth leader in the RIA space, we must adopt a bifocal ability to execute on what’s right in front of us while also innovating and anticipating the needs of our advisors — and clients — years and even decades from now,” he explained.
Carson said that White — who has been with Carson Group since 2022 — has exceeded expectations as a firm leader. Before joining Carson, White was a managing director and chief investment officer at LPL Financial for 14 years.
“He has transformed our investments platform and led our organization in one of our most successful growth years to date,” Carson said. “I can’t think of a better person than Burt to carry the torch for our mission, advance our offering and attract thought leaders to elevate the business.”
Carson will retain majority ownership in the firm, according to the announcement. As chairman of the board, his focus will shift to the longer-term future of the company, while White will take the lead on executing the firm’s advisor-centric growth strategy.
The transition also is meant to allow Carson “more time to further his family’s humanitarian impact and champion initiatives such as feeding the hungry, providing clean water and supporting mental health.”
Carson’s Decision
In a video posted on LinkedIn, Carson said: “Man, am I excited,” adding that the RIA space is moving ahead in tandem with the “exponential rise in technology, AI and machine learning — it’s like, wow. I know it’s scary, but it’s here, and we are figuring out how to live with it. That’s what we’re doing for the benefit of the people we serve here at Carson.”
Carson said he intends to remain closely involved in the organization, but that he looks forward to being able to spend “90% of my creative time working on what I am going to call the ‘ultimate human experience.’ ”
The firm won’t deviate from its mission of being a “100-year firm,” he added, noting that investor Bain Capital remains a committed and critical partner.
