Carson Group CEO and founder Ron Carson. Carson Wealth Adds $566M RIA in Florida
Ruggie Wealth Management joins Carson via an exchange of a 25% interest of its business for an equity stake in the nationwide RIA.
July 10, 2019 at 02:00 PM
3 minute read
Women in Wealth
The original version of this story was published on Law.com
Carson Wealth has added an RIA with $566 million on assets: Ruggie Wealth Management of Central Florida, which is led by Tom Ruggie.
The Ruggie Wealth team is the fifth firm with over $500 million in assets to join Carson Wealth in the past year. The addition of the firm's three offices brings Carson Wealth's number of offices to 18 nationwide.
Carson Group has $10.4 billion in assets under management on its platform. Its operations include Carson Wealth — which entails exchanging a 25% interest of the firm for equity in the nationwide RIA, Carson Partners — an affiliation program with no such transaction or equity swap, and its coaching program.
"We've set a goal to grow by a factor of 10 in the next 10 years, and our affiliation with Carson Wealth will help us add to our bench strength in areas like marketing, investment management and support; to share or delegate compliance, billing, trading and technology; and to enhance our one-on-one and digital experience for our clients and advisors," according to Ruggie.
"Ron Carson, CEO and founder of Carson Group, has been my friend, mentor and financial coach for more than 15 years, and we share a deeply held commitment to delivering a proactive game plan and straightforward transparency," he explained.
After Goldman Sachs agreed to buy RIA United Capital in May for $750 million, Carson told ThinkAdvisor that his RIA isn't going anywhere.
"We're laying the groundwork for what I believe will be a 100-year company. We're not plotting a quick and profitable exit or looking to sell," according to the Carson Group founder.
Carson Group plans to hire up to 40 more employees this year and to start construction this month on its new headquarters in Omaha, Nebraska.
"Carson Wealth is honored to add such a high-caliber, well-reputed team to our growing family," Carson said in a statement. "Tom recognized the growth/balance/time constraint most advisors face as they build their businesses and found a proven solution that would allow him to do more for his firm, his clients and for others. Nothing is more fulfilling than that."
— Check out Ron Carson: 9 Challenges Advisors Must Tackle on ThinkAdvisor.
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