Carson Group is expanding its tax planning services through the acquisition of Taylor Financial Group.
The 10-person Taylor Financial team, managing $385 million in assets, will continue to serve its clients from its Franklin Lakes, New Jersey, location, under the Carson Wealth brand. The firm has partnered with Carson for more than a decade, according to the deal announcement.
Founder Debbie Taylor, CPA, will become managing partner and chief tax strategist at Carson Group.
Burt White, CEO of Carson Group, told ThinkAdvisor that the acquisition supports the firm’s ongoing mission to deliver a holistic approach to financial health — one that allows advisors to support clients in ways that go beyond market-driven returns.
“This initiative equips our advisors with expertise in tax strategy, creating opportunities to deepen client engagement and practice growth,” he added.
Starting in the first quarter, Carson Group will utilize Taylor’s resources and expertise to address clients’ complex tax scenarios, especially in distribution planning, retirement account optimization, tax-loss harvesting and estate planning.
According to White, Carson advisors who have incorporated tax planning into their practices are growing 5% faster per year, on average, than those who have not.
“From a growth strategy perspective, tax alpha is the perfect way to grow a portfolio, and for many advisors, tax planning is overlooked as a complex specialty reserved for CPAs,” White said. “Carson tax strategy is an important part of our growth and is critical in our mission to empower advisors and deliver unparalleled value to clients.”
“By leveraging tax planning solutions, advisors can help their clients optimize their financial outcomes, minimize tax liabilities or increase after-tax returns, which have a compounding effect on wealth,” Taylor said in a statement. “I am excited to be part of a community of like-minded practitioners who can come together to refine our skills and share best practices.”
Carson Group now manages more than $40 billion in assets and serves more than 51,000 client families among its advisory network of 150+ partner offices, including more than 50 Carson Wealth locations.
Pictured: Burt White
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