Carson Group has acquired Sweet Financial Partners, a registered investment advisor based in Fairmont, Minn., with $1 billion in assets under administration. It's Carson’s second-largest deal to date.
Sweet Financial is run by Managing Partner and founder Bryan Sweet, who has been a long-time member of Carson Coaching, the firm’s advisor coaching service. The firm’s 12-person team expands Carson Wealth’s Midwest presence and will continue to operate as Sweet Financial Partners.
"This collaboration allows us to maintain our local focus while tapping into the resources of a national brand,” Sweet said in a statement. “It’s a natural progression that aligns perfectly with our culture of inspiring clients 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, blueprint, build and maintenance, according to the firm’s website. In 1995, the firm started offering businesses a 401(k) platform.
Sweet Financial used Wise Rhino to advise on the deal.
This follows Carson’s acquisition last month of True North Financial, a Billings, Mont.-based RIA with about $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, an advisor coaching service. Carson Group currently manages $38 billion in assets across all three, serving more than 50,000 families through a network of more than 150 partner offices, including more than 50 Carson Wealth locations.
In April, Carson stepped down from his role as chief executive to become chairman of the board, with Burt White, managing partner and chief strategy officer, taking over his position.
That same month, Carson’s former CMO Mary Kate Gulick filed a lawsuit against the firm, claiming it did not adequately respond to allegations a Carson employee had committed sexual assault and that Carson made the decision to keep the employee at the company.
