Company Details
Having embarked on a journey in business coaching, Carson leveraged its acquired insights to empower others in their pursuit of business growth and achievement. Carson firmly subscribes to the notion that once individuals discover their own freedom, they are better equipped to guide clients on a similar path. This unwavering belief fuels Carson's commitment to aiding advisors in running their operations more efficiently, facilitating growth through a proven roadmap, and enabling them to relish the lives they have diligently constructed. Today, Carson stands as a national firm, equipped with a wealth of resources, knowledge, and unwavering support for its advisors.
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Acquisition Model
Max Cash: 100%
Max Equity: 25%
Carson's standard retention terms are ~30% held in retention for 24 months. Half of the retention consideration will be paid at the 12-month anniversary and the remaining will be paid at the 24-month anniversary.
Mandatory Points of Alignment
Since Carson sees the firm technology as a major value add, the leadership would like all partners to have a centralized tech stack.
Partners have full autonomy over their calendars.
Carson Group uses a centralized P&L model to manage the organization's financial performance. While it offers a comprehensive view, it may limit visibility into individual practices. However, they provide support for advisors to manage their businesses effectively within this model.
Carson has a branded client experience called The Proven Process. All partners are strongly encouraged to use this process.
Carson excels at practice management and stands ready to assist local partners to implement processes and systems to improve practice management.
After joining Carson, advisors are required to migrate to the central investment management platform; however, the investment team takes into account client tax and suitability issues and will migrate over time.
Advisor Value Proposition
Carson recognizes the importance of having strong G2 advisors and has taken steps to enhance the experience of current advisors while also recruiting new ones. Their program offers two paths based on an advisor's experience. For existing G2 advisors, Carson hosts training sessions at headquarters to familiarize them with their systems and processes. This training also includes coaching on leadership skills, enabling them to be effective advisors and leaders within their local offices. Additionally, Carson offers training courses throughout the year, covering topics ranging from specific tech tools to broader industry knowledge. The second path is designed for upcoming advisors. Carson invites recent college graduates to join their program for two years, where they will take courses on Carson, gain necessary certifications, and be prepared to step into advisory roles when local offices need additional support.
Carson has an internal paraplanning team, advanced estate planning team, and tax (preparation) team that advisors can leverage. The investment team is also available to assist during client calls as an additional resource.
All offices benefit from centralized compliance, HR, finance, marketing, and more, to accelerate growth and to spend more time on client-facing activities.
Carson provides a number of expanded services, including: Corporate trust solutions, Estate planning, Qualified plans, Tax preparation (350 returns), and Risk management. While these services are readily available to advisors, the utilization is not mandatory. To further support advisors, Carson has established the Advanced Solutions Team. Serving as an extension to the local office, this team supports partners to navigate complex planning topics that arise in client situations.
Carson focuses on supporting advisors in driving organic growth. This support comes in measurable tools of a complete marketing plan as well as strategy driven build out of your firm's website. Other initiatives around driving growth include providing social media campaigns, event support, and their Client Acquisition Program. Carson Group, with the support of Boston Consulting Group, has built out the Client Acquisition Program, a lead generation system. This program helps source clients for Carson's advisors. They believe driving organic growth from within rather than relying on custodial referral programs is critical. This program is currently in Beta 1 testing and has driven impressive results:15,750+ leads sourced, 1,350+ appointments set, 3,569 open leads, 63 new clients closed, $230M+ of AUM set in appointments, $35M+ total AUM, onboarded $1.8B+ of AUM, currently in the funnel 100% of 25 pilot partner offices received an appointment, $898,000 average assets of appointments, 32% higher projected AUM per $ of marketing spend vs. targets, 78% Average share of the wallet.
Carson Coaching is a renowned program to help advisors run their business in a more efficient manner. Carson provides this service to all partner offices through the internal business consulting team. Upon joining Carson, the business consulting team comes onsite to map out roles and responsibilities, and to understand what each team member enjoys doing to help further their career in areas they are passionate and skilled at.
AUM Growth
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