Carson Group has hired Ryan Detrick as its new chief market strategist after he left a similar role at LPL Financial last month. Detrick follows LPL’s former chief investment officer, Burt White, who joined Carson Group as chief strategy officer and managing partner in April after announcing his retirement from LPL the previous August.
Detrick, a well-known market analyst who appears regularly on national broadcast media, spent more than six years on LPL’s investment research team, where he was recruited by White. Prior to his role as chief market strategist, he was senior market strategist under Chief Investment Strategist John Lynch, now CIO at Comerica Bank Wealth Management.
During his time at LPL, Detrick helped to launch one of the first podcasts in the broker/dealer space—Market Signals—which has had nearly 1 million downloads, established the firm’s YouTube channel as a popular financial site and co-authored a research blog that has had more than 3 million views since 2017, according to Detrick's LinkedIn profile. He also helped manage LPL’s Technical Equity model portfolio with Technical Market Strategist Scott Brown.
In his new role at Carson, Detrick will be responsible for advancing the company’s research team, producing market commentary and increasing the visibility of the firm's market insights, according to the announcement, as well as helping to expand its investment platform.
“Carson’s investment team is one of the best in the industry and I look forward to working with them,” said Detrick. “We have an exciting opportunity to change the way the industry talks about market research and wealth management. I want to take complex market data and make it easy for the average investor to understand and share it in a way that is simple to digest.”
In a LinkedIn post published in June, Detrick announced that he was stepping down, as LPL had become more institutional-focused, he said.
“This is the right move for LPL, but doesn't fit my brand,” he wrote. “If you've ever seen me present, dress up silly for a video, or tell a stupid joke on my podcast, I'm just not meant to be institutional.”
“I’ve known Ryan for over a decade, and I am incredibly excited about what he brings to the team,” said White. “Ryan is a trusted voice in the industry, providing timely market insights, commentary and investment strategies to support advisors and their clients. His strong relationships and expertise will help enhance our industry-leading wealth management offering and further our mission of being the most trusted in financial advice.”
Based in Omaha, Neb., Carson Group provides services to advisors and clients through its three businesses—Carson Wealth, Carson Coaching, and Carson Partners. Carson Group currently manages about $20 billion in client assets though its advisor network of more than 130 partner offices.