Omaha, Neb.-based Caron Group announced today its largest deal ever, an equity partnership with Portland, Ore.-based Northwest Captial Management.
Northwest Capital, which was founded in 1998 and has $5 billion in AUM, specializes in wealth management and retirement plan services, according to the announcement. As part of the transaction, Northwest Capital’s 13-member team will be able to access Carson’s investments platform and resources to expand its capacity and elevate the service it provides to wealth management client households, plan sponsors and plan participants.
"Our affiliation with Carson will allow us to expand our resources considerably, gaining a larger support staff for client service, financial planning, investment research, portfolio analysis, trading and investment monitoring," said Brent Petty, a managing director, partner and senior investment advisor at Northwest Capital, in released comments. “This will enable our teams to better provide the guidance clients require to achieve their personal financial goals.”
Carson will also gain the ability to further expand its retirement plan service offerings, according to a company announcement.
In recent hires and in recent strategic partnerships with Vestwell, BOK Financial Advisor Trust Services, and Trust & Will, Carson has shored up its ability to offer workplace retirement plans that bring holistic financial planning to bear.
“With more clients seeking holistic planning solutions, our partnership with NWCM is another part of the strategic puzzle that will allow us to better compete in the retirement planning space,” said Jamie Hopkins, managing partner of wealth solutions for Carson Group, in comments released today. “The team at NWCM has spent the last three decades building a tremendous business. We are excited to learn from them and continue to build on the value we can bring to the table.”
Carson Group now manages $28.2 billion in assets for more than 46,000 clients from more than 140 partner offices, according to the announcement.