Carson Wealth, a division of the Carson Group in Omaha, has acquired a 25% minority stake in three newly merged practices managing a combined $182 million in client assets, according to a spokesman for Carson.

The three boutique RIAs that recently merged are Cadwell Wealth in Celebration, Fla., led by founder Scott Cadwell; Sovereign Investment Group in Mooresville, N.C., led by Ted DeLisi; and Fulcrum Wealth Advisors in Raleigh, N.C., led by Matthew Gomoll and Travis Laska, Carson said in a news release.

Owners of the merged practices will maintain active majority ownership and make all strategic business and operations decisions for their practice, but will rebrand under the Carson Wealth name, the spokesman said.

“Many Carson Wealth practices choose to join through the 25% equity swap,” the spokesman said in an email response last week. “This allows the firm owners to remain in control of their business, while gaining access to Carson’s resources alongside equity in Carson.”

The spokesman said he expected the deal to be completed within the next few months.

Carson Group has more than 100 affiliating practices companywide.

This is Carson’s eighth equity swap partnership since first offering the affiliation model in early 2018. Since then, the spokesman said, the firm’s equity swap partners have contributed more than $3 billion in client assets under management (AUM) to the hybrid RIA’s current total of $12 billion in AUM.

Carson Group President Aaron Schaben said in an email that his firm’s equity swap model is gaining in popularity with advisors both inside and outside the Carson network because they now share in Carson’s success, as well as their own.

“Carson is growing at a phenomenal rate, filling in gaps that the industry at large is not addressing, and many advisors want to participate in that growth,” he said. 

Schaben said a key component of every practice is having a succession plan.

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