Carson Group President Teri Shepherd is leaving the company.
According to a statement from CEO Burt White, the firm fully supports “Shepherd's decision to focus on her family.”
“We are grateful for Teri's many years of leadership; Teri has been a pillar of our organization, providing a steady hand and an empathetic presence during a time of transformation,” White said. “We wish her the best and thank her for her commitment to our company.”
Shepherd's escape was first reported by ThinkAdvisorwho announced that she will resign in March.
As for replacements, White said the firm “will take a thoughtful approach to our leadership needs for this growing business and will share more as plans evolve.”
In July 2019, then-CEO and founder Ron Carson named Shepherd and Executive Vice President Aaron Schaben co-presidents. According to the agreementSchaben would handle the firm's “business growth and development,” while Shepherd would oversee the firm's institutional and retail departments.
Cockroaches have been around since then took on a different role as division president, Carson Partnersleaving Shepherd as sole president. Shepherd was also named as one of the WealthManagement.com's “Ten to watch” in 2020.
Shepherd joined Carson in 2012, eventually becoming chief operating officer before assuming the role of president. She previously worked at global biotechnology company Transgenomic and QA3 Financial, where she held the roles of executive vice president, chief financial officer and chief operating officer.
in April, Ron Carson resigned from his position as chairman and CEO of the firm, while Managing Partner and Chief Strategy Officer Burt White became CEO.
Carson retained majority ownership in the firm and vowed to devote more time to “increasing his family's humanitarian impact.” Carson founded the Omaha, Neb.-based firm. in 1983, and now includes Carson Wealth, Carson Coaching and Carson Partners, with approximately $35.5 billion in AUM and support of minority stakeholders from Bain Capital.
Shortly after White claimed the lead role, Carson announced several other executive additions, including Dani Fava taking over White's previous role as Chief Strategy Officer and Heather Randolph Carter becoming the firm's Chief Marketing Officer. Daniel Applegarth joined the executive team as CFO to replace Nick Englebart, who now oversees Carson Group's M&A strategy. Eric Vrba also joined the firm as a controller in April.
in April, former Carson Group CMO Mary Kate Gulick filed a complaint in federal court alleging that the firm's failure to handle an alleged sexual assault at a conference by an employee of the firm left him psychologically scarred and that Ron Carson made the decision to keep that employee at the company.
Both Shepherd and White appear frequently in Gulick's complaint. In late 2022, after learning of the alleged attack, Gulick claimed that Shepherd assured him that the attack “would be handled properly”, although Gulick claimed it was not.
In subsequent messages, Burt White (then chief strategy officer) allegedly told Gulick that he questioned whether he had the “energy” to turn the organization around, claiming that Carson Group “needs a strong turnaround right and frankly, this company is run horribly.”
Gulick claimed she suffered mentally from the aftershocks of handling the assault complaint and was given a “general show of support” by Shepherd and White. But she stated that in June 2023, White told her she was being fired, telling her she was vacillating between “greatness and, I don't know, resentment.”
Carter said WealthManagement.com the firm would “unequivocally contest” the allegations, and the lawsuit is pending in federal court in Nebraska.