In its first M&A transaction of 2025, Carson Group announced Tuesday that it expanded its relationship with Carson Wealth Cedar Rapids, which has about $1 billion in assets under management (AUM), by fully acquiring the firm.
The acquisition included the Carson Wealth Cedar Rapids Las Vegas office, according to Carson Group, which manages approximately $38.5 billion in client assets.
The “strategic partnership will expand” the Cedar Rapids firm’s relationship with Carson Group and allow the two offices, headed by Russ Nieland, Managing Director, Partner and Wealth Advisor, Carson Wealth, to “focus on delivering exceptional client service and identifying new areas of business growth,” according to a news release.
The expanded relationship is expected to deliver various benefits for clients, including a wider variety of investment offerings, enhanced services and resources that are designed to “support elevated client experiences and simplify the operational burden on advisors,” Carson Group said.
“We continually strive to provide the best resources and support to our network of advisors,” according to Burt White, CEO of Carson Group. “In many cases, business conditions can make succession plans difficult to execute, which is a growing challenge in our industry.”
White added, “Our expanded partnership will help secure the legacy of the talented founding partners of our Cedar Rapids office, while positioning the firm for success and growth in the future. The partnership also demonstrates our commitment to supporting our partners across generations and providing stability and continuity to their clients.”
“One of the things that’s continuously reinforced at Carson Group is the commitment to legacy,” according to Nieland. “This was important to us as we considered what our founding team of partners built from the ground up.”
Nieland added, “Our decision to expand our partnership with Carson Group is our way of ensuring our legacy and ensuring the multigenerational ownership structure we established can continue to grow and meet the diverse needs of our clients.”
Carson Group serves over 51,000 client families through its advisory network of more than 150 partner offices that include over 50 Carson Wealth locations, it said.
Carson Group ended 2024 with a deal with MAG Wealth Management in which MAG acquired Ovation Wealth Advisors and rebranded to Carson Wealth as part of Carson Group taking a 30% equity stake in MAG.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.
