Know Your Worth | 3rd Quarter Newsletter

That is now six episodes in the bank! We appreciate the kind kudos and comments we have received after our second quarter of content.  We have continued to broaden the scope of all things RIA M&A. 

This quarter, we started with a conversation with Jacqueline Martinez of Alaris Acquisitions.  As an experienced transaction specialist, Jacqueline provided valuable insight into the integration process after a seller identifies the right buyer.  In August we welcomed Ted Motheral from Potomac Law live in the Carson studio.  One of the more frequent questions we hear is “what does the legal process entail?”  By having on one our industry’s sharpest legal minds, we were able to start dissecting the equity and purchase document process. We certainly plan to have Ted back to continue the dialogue. Finally, we rounded out the quarter with a live episode filmed at the Carson Excell conference with Nate Fisher of Carson Wealth Hanover. Nate brought a unique perspective as a second-generation advisor in a family business.  By combining with Carson Wealth, Nate was able to find the supportive community that his office craved. 

Next quarter, Jeff and I will hit the road to Indianapolis to spend time with Alicia Chandler and Oak Street Lending.  We have two other special episodes to come.  We have loved recording these and thank you for continuing to listen! 

Michael Belluomini, SVP – M&A 

Carson In the News Quarterly Update

In July, Carson Group announced that Shane Hall Financial has joined Carson. This strategic partnership will enhance the firm’s service offerings and support growth in an evolving financial advisory landscape. Hall emphasized the importance of overcoming previous challenges that had hindered the firm’s growth. “Carson Group’s robust infrastructure and technology capabilities will provide us with the tools necessary to scale our business effectively.”  

Carson Group is poised for a record year in growth and profitability, as highlighted by CEO Burt White in a recent interview with ThinkAdvisor. He credits this success to a combination of internal and external factors that are expected to further accelerate the firm's growth in the coming years.    

White emphasized that the firm is experiencing strong organic growth, successful recruitment and retention of top advisors, and the dynamic leadership of a revamped executive team, which includes seasoned professionals like Dani Fava and Daniel Applegarth. White noted that this period marks an exciting new phase for Carson Group. The firm achieved its best year ever in 2023 regarding profitability, revenue, advisor numbers and retention rates, and it is currently on track for another record-breaking year.    

In September we welcome our 17th wholly-owned Carson Wealth office! The Carson Wealth | True North Financial team, located in Billings, Montana, joins us with a team of six stakeholders.  The six-person True North team, led by managing partner and wealth advisor Ty Vogele, along with wealth advisors David Guenthner and Ryan Wittman, manages over $400 million in assets.  

Vogele called the collaboration a "game-changer" for the True North team, explaining how it helped relieve their day-to-day challenge of "wearing too many hats." See full article in InvestmentNews. 

Barry Gilbert, portfolio manager with the Carson Group, recently shared with WealthManagement.com the reason why the firm is risk-on right now, why it prefers ETFs over mutual funds and what’s different about this market cycle. The firm’s model portfolio, launched in late October 2022 and has approximately $2 billion in AUM today. 

Livestream replays

July

Jacqueline Martinez, Managing Partner at Alaris Acquisitions, joins Carson’s Michael Belluomini, VP, Mergers & Acquisitions, and Jeff Harris, AVP, Mergers & Acquisitions, as they dive into the transition process that takes place after an M&A deal. 

Topics of Discussion:

• How do you narrow the universe of potential buyers for a seller? 
• Talk a bit about how a transition usually works 
• Any lessons or items from past transitions you would like our listeners to take away? 
• What sort of wisdom can you share with a seller about the transition process? How can they be prepared and confident once they close that they can get their clients to move over? 

August

Ted Motheral, Partner, Potomac Law Group, joins Carson’s Michael Belluomini, VP, Mergers & Acquisitions, and Jeff Harris, AVP, Mergers & Acquisitions, as they dive into the legal side of the transition process.   

Topics of Discussion:  

• Why to hire an M&A attorney instead of a family attorney.  
• The importance of personal goodwill.  
• What sellers should expect from an asset purchase agreement.  
• The demise of non-competes clauses.  

September

We will walk through the different stages of the M&A process to help educate potential sellers along the way. Last month we talked with Ted Motheral from Potomac Law Group to discuss the Legal aspect of the transition process. This week we are coming to you live from Excell to speak with Nate Fisher to talk about G2 advisors and the journey he and his father went on to find Carson.