Carson Group holds a mix of partner firms in 35 locations, some wholly owned and some with a minority stake.

Carson Group, the US wealth management group, has acquired Northface Capital Holdings, a business with $200 million in assets under management.

The Northface team is led by Chris Tobey.

“Transitioning to a wholly-owned Carson Wealth office will allow us to enhance how we serve our clients,” Tobey said. “Our decisions are based on what is in our clients’ best interest and this will put our team and clients in a better position.”

The comments come at a time when relatively few financial advisors have prepared for succession. Carson cited research, conducted in 2018 and issued by the Financial Planning Association, showing that 27 per cent of financial advisors have a succession plan in place.

“Carson’s business model accommodates many advisors’ growth and operational needs, but providing a smooth transition plan where one advisor can pass the reins to the next generation and know that their clients will be taken care of is one of the most powerful,” Nick Engelbart, chief financial officer at Carson Group, said. 

The Waltham location will be the sixth wholly-owned Carson Wealth office in the US.

Carson Group, based in Omaha, Nebraska, manages $20 billion in assets through its advisory network, including 135 partner firms and 35 Carson Wealth locations, some wholly owned and some with a minority stake.