The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Modern Wealth Management
Modern Wealth Management, an RIA, has agreed to acquire Denver, Colorado-based Brown and Company, a firm overseeing about $1 billion in AuM. The business had been previously affiliated with LPL Financial. 

As part of the transaction – for an undisclosed sum – the Brown and Company team will join Modern Wealth’s platform. This marks Modern Wealth’s second such deal in the past month, as well as Modern Wealth’s first presence in Colorado.

Alaris Acquisitions guided the asset purchase agreement. The transaction is Modern Wealth’s 21st acquisition to date, bringing total AuM to more than $13 billion. 

Founded in 1988 by Mark Brown, Brown and Company provides tailored services across investment and retirement planning, advanced tax and estate strategies, and philanthropic and charitable planning. It works with more than 200 households.

Brown and Company’s full eight-person team will transition to Modern Wealth, including members of its leadership team: Danielle Berz, Justin Cassida, and Jonathan Kuiter. 

Carson Group
Carson Group, which has more than $57 billion in assets under management, yesterday said it has acquired Carson Wealth in Murray, Utah, led by managing partner and wealth advisor Thom Hall.

The practice, which manages about $160 million in AuM, has become Carson’s 43rd integrated office.

Hall has more than 30 years of experience advising families and business owners on wealth management, financial planning and investment strategy. He joined Carson in 2018 as an independent advisor and later rebranded as a Carson Wealth equity office. Hall is joined by wealth advisors Matthew Johnson and Lawrence Macfarlane, associate advisor Landon DeCoursey, paraplanner Joshua Potts and five support staff members.