Two wealth management firms with nearly $200 million in managed client assets will join Carson Partners, the firm announced today.
The principals of Bender Financial Services Firm, based in Highlands Ranch, Colo., and Morgan Wealth, located in central California, will retain ownership over the firms after the transition.
Morgan Wealth, a three-person team managing $58 million in assets, was approached by several RIA firms, but decided to join Carson because the partnership would be dually beneficial to the firm and its clients, according to Joe Morgan, the firm’s founder and CEO.
“We’ll be more efficient as a team with the new technology, we’ll be more focused on the things our clients need most, and we’ll be able to scale faster and smarter, keeping our operational costs down,” Morgan said. “This will translate into more competitive pricing for our clients and more profitability for our firm, all while creating a far more compelling value proposition that is clean and straightforward.”
Bender Financial Services has $140 million in assets under management, working with clients in the Denver metropolitan area and throughout the country. Firm President Benjamin Bender said the partnership will help the practice better respond to regulatory mandates.
“With the increased scrutiny in our industry, we also needed a buttoned-up process for compliance and regulations,” he said. “Carson’s out-of-the-box solutions will enable us to shift a significant portion of our time from monitoring industry changes to doing what we do best—meeting and planning with clients.”
This announcement is the latest in a number of additions to the Carson Group in recent months; in late May, Driven Wealth Strategies, a Kansas-based firm with $330 AUM announced it would join Carson from Waddell & Reed, while Spectrum Management Group, an eight-person team in Indianapolis with $575 million in managed assets, joined Carson Wealth through an equity swap deal in early May.
Additionally, Carson Group is planning to break ground this summer on a new headquarters in Omaha, Neb., which is expected to house as many as 2,000 employees and is slated to cost $80 million. Carson Group was founded by Ron Carson and totals $8.6 billion in assets.