Carson Group Announces One of Its Largest Acquisitions: A $500M AUM Louisiana Firm
Deal provides the 16-person firm with a solid succession plan
OMAHA, Neb., March 16, 2023 /PRNewswire/ -- Carson Group announced the full acquisition of The Shobe Financial Group, a client-centric, full-service financial planning and wealth management firm in Baton Rouge, Louisiana.
The planning driven 16-person team, which currently has over $500 million in assets under management, will continue to be led by partner and chairman, Ed Shobe, CFP®, CLU® and partner and president Jason Windham, CFP®, CLU®, ChFC®, CIMA®, AIF®. The team chose to align with Carson for several reasons, but key was being able to put into place a succession plan that will provide continuity for the firm and its clients.
"As a Carson Wealth office we will have access to expanded resources and can focus on what we do best: helping families and businesses pursue their life's goals through good financial decisions," says Jason Windham. "We didn't take this decision lightly – it's been more than a year in the making, and after careful consideration and due diligence we know that our decision to join Carson Wealth is what is in our clients' and our teams' best interest."
According to a 2022 Cerulli report, 37% of financial advisors are expected to retire within the next 10 years, yet one in four advisors don't have a succession plan in place. This presents a critical risk to business continuity and client service.
For The Shobe Financial Group, working with Carson as a succession solution made perfect sense. The firm was able to mitigate business risk while joining a platform that would accelerate its growth to increase enterprise value.
"There are two types of advisors that are most drawn to Carson. There are those that have a growth mindset and who want to tap into our business solutions so they can focus on their clients. And there are others, like Ed and Jason, who turn to us because they've built a multigenerational family business and they want to continue to grow, as well as secure a future for their firm and their clients," said Jamie Hopkins, managing partner of wealth solutions for Carson Wealth. "We know the trust it takes to build that kind of firm and we are pleased we can provide enhanced capabilities and support for Ed, Jason and team so they can continue to focus on helping their clients now and well into the future."
The Shobe team was able to work with Carson because the two companies were well aligned culturally and share a client-first philosophy.
Ed Shobe added, "Carson's founder and CEO, Ron Carson started his firm the same year we opened our doors back in 1983. We both share a deep desire to help clients define and find their freedom through proactive planning and financial management. This alignment strengthens our offerings and is an important step in our 100-year plan. We see Carson Group as a long-term partner that will allow us to grow and serve our clients for generations to come."
The Baton Rouge location will be the seventh wholly owned Carson Wealth office in the U.S.
Carson Group currently manages $21 billion in assets and serves more than 45,000 families through its advisory network of more than 460 advisors in 190+ offices located in 37 states. For more information, visit www.carsongroup.com.
About Carson Group
Founded in 1983 by Ron Carson and headquartered in Omaha, Nebraska, Carson Group serves financial advisors and investors through its three businesses – Carson Wealth, Carson Coaching, and Carson Partners. Carson Group has created an ecosystem dedicated to helping financial advisors unleash the full potential of their firms by providing marketing, compliance, technology, investment strategies, succession planning, M&A support, and coaching. The company currently manages $21 billion in assets and serves more than 45,000 families among its advisory network of 136 partner offices, including 36 Carson Wealth locations. For more information, visit www.carsongroup.com.
Carson Partners offers investment advisory service through CWM, LLC, an SEC Registered Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors. Carson Coaching and CWM, LLC are separate but affiliated companies and wholly owned subsidiaries of Carson Holdings, LLC. Carson Coaching does not provide advisory services.
Press Contact:
Megan Belt
402-715-0897
[email protected]
SOURCE Carson Wealth
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