Strategic decision solidifies Carson’s move into retirement plan services and expands wealth management footprint in the Northwest
Carson Group announced an equity partnership with Northwest Capital Management (NWCM), a retirement and investment advisory firm that specializes in wealth management services for individuals and retirement plan services for plan sponsors and their participants. The team will continue to be led by Managing Director, Partner and Senior Investment Advisor, Brent Petty, CFP®, AIF® and Senior Investment Advisor, Fred Payne, Jr. CFP®, with office locations in Portland, Oregon, and Seattle, Washington.
Northwest Capital Management, Inc. was founded in 1998 in Portland, Oregon as an independent and privately held investment advisory firm and today has grown to a team of 13 that serves more than $5B in assets under management.
The partnership will provide NWCM with enhanced resources and expanded capacity, along with access to Carson’s leading investments platform. This will help support NWCM’s client base and provide retirement plan participants with experienced insights on legislation and regulations, elevating the level of expertise and service they receive.
“Our affiliation with Carson will allow us to expand our resources considerably, gaining a larger support staff for client service, financial planning, investment research, portfolio analysis, trading and investment monitoring,” said Managing Director, Partner, and Senior Investment Advisor, Brent Petty, CFP®, AIF®. This will enable our teams to better provide the guidance clients require to achieve their personal financial goals.
Petty added, “This partnership will also provide us with new resources for our plan sponsor partners and their participants. We will now have specialized support in technology and investment research, and we will also broaden our depth of compliance and regulatory support. By reinforcing our infrastructure with a best-in-class cybersecurity framework and strong business continuity, we can ensure needs are met without interruption.”
The partnership also allows Carson Group to further expand its retirement plan service offerings, which is a growing trend that advisors and clients are seeking.
A recent study done by PricewaterhouseCoopers (PwC) indicated that 60% of investors want their financial advisors to offer holistic advice that encompasses their entire financial picture, including budgeting, debt management, tax planning, retirement planning, and estate planning.
“With more clients seeking holistic planning solutions, our partnership with NWCM is another part of the strategic puzzle that will allow us to better compete in the retirement planning space,” said Jamie Hopkins, Managing Partner of Wealth Solutions for Carson Group. “The team at NWCM has spent the last three decades building a tremendous business. We are excited to learn from them and continue to build on the value we can bring to the table.”
In addition to this partnership, Carson Group has built up its retirement plan offerings and its ability to offer holistic planning through recent strategic partnerships with Vestwell, BOK Financial Advisor Trust Services and Trust & Will as well as several recent strategic hires. This positioning enables Carson to offer a distinct and unique service in the marketplace for both clients and advisors.
Hopkins added, “This partnership will give NWCM access to Carson’s ecosystem of cutting-edge technology and investment offerings, paired with expanded resources, the NWCM team will have what they need to run more efficiently and continue to grow.”
Carson Group currently manages $28.2 billion* in assets and serves more than 46,000 families among its advisory network of 140+ partner offices. For more information, visit www.carsongroup.com.
*Combined AUM of CWM, LLC and NWCM, LLC.