Carson Group Holdings says it is getting an investment of about $35 million from private equity group Long Ridge Equity Partners, which represents about a 30% stake in the firm.
At the same time, the business units of Omaha-based Carson Wealth Management Group and Peak Advisor Alliance are being reorganized under the new parent holding company, Carson Group Holdings. According to a press release from earlier this week, Carson Wealth has some $6.5 billion in assets under advisement; it is affiliated with LPL Financial (LPLA).
"Given their deep expertise with high-growth financial services companies, Long Ridge represents an ideal partner for us at this stage of our company's growth," said Ron Carson, the company's founder and CEO, in a statement. "Long Ridge's capital and strategic support will accelerate our growth and enable us to continue delivering a premier level of service to our clients and advisor partners."
As part of the investment, Jim Brown and Kevin Bhatt of New York-based Long Ridge Equity Partners are joining the Carson board of directors.
