Carson Group has acquired Sweet Financial Partners, a Fairmont, Minn.-based registered investment adviser with $1 billion in assets under management. It's Carson's second-largest deal to date.
Sweet Financial is led by Managing Partner and founder Bryan Sweet, who has been a longtime member of Carson Coaching, the firm's advisor training service. The firm's 12-person team expands Carson Wealth's presence in the Midwest and will continue to operate as Sweet Financial Partners.
“This collaboration allows us to maintain our local focus while leveraging the resources of a national brand,” Sweet said in a statement. “It's a natural progression that aligns perfectly with our culture of inspiring customers to realize their dreams are possible.”
Founded in 1987, the firm developed a proprietary financial planning process, The Dream Architect. Its four steps include vision, plan, build and maintain, according to the firm's website. In 1995, the firm began offering businesses a 401(k) platform.
Sweet Financial used Wise Rhino to advise on the deal.
This follows Carson's last month's acquisition of True North Financialan RIA based in Billings, Mont. with approximately $400 million in assets.
Based in Omaha, Neb., Carson Group was founded in 1983 by Ron Carson and serves financial advisors and investors through its three businesses—Carson Wealth, its retail wealth management arm; Carson Partners, an RIA partnership platform; and Carson Coaching, a consulting coaching service. Carson Group currently manages $38 billion in assets across the three, serving more than 50,000 households through a network of more than 150 partner offices, including more than 50 Carson Wealth locations.
in April, Carson resigned from his role as chief executive to become chairman of the board, with Burt White, managing partner and chief strategy officer, taking over.
That same month, Carson's former CMO Mary Kate Gulick filed a lawsuit against the firm, alleging that it did not adequately respond to allegations that a Carson employee had committed sexual assault and that Carson made the decision to keep the employee at the company.