Nimesh Patel is no longer with Carson Group, less than two years after he was named the firm’s first chief technology officer.
The Omaha, Nebraska-based wealth management firm, which manages $28.2 billion in assets across more than 140 advisory offices, announced Patel’s appointment to the newly created CTO position in February 2022. The company confirmed Thursday that Patel is no longer with the company but didn't specify when his position ended.
It's not clear if Patel left the company or if he was terminated. Carson Group did not respond to a request for additional comment.
Patel’s LinkedIn profile still lists him as the firm’s CTO. Patel declined to comment.
When Carson announced the hire, the firm touted Patel’s 20 years of experience in technology and strong record in developing product teams. Prior to Carson, Patel was CEO of Prefix Health Technologies, a social benefits technology. He also held executive positions at Cresset, a capital markets startup, and was a director of group technology of UBS Hong Kong.
“Nimesh has an impressive background in product strategy and engineering, software architecture, and creating behavior-driven user engagement experiences. His deep technical expertise will be an invaluable asset to our leadership team as we work together to propel Carson into its next phase of growth,” Teri Shepherd, president at Carson Group, said in a 2022 statement.
InvestmentNews reach out to several of Carson Group's fintech providers for more information regarding Patel's departure. The companies either declined to comment, said they had no additional information, or did not respond to a request for comment.
Carson Group has used mergers and acquisitions to grow into of the largest independent firms in the industry. The firm recent announced an equity partnership with Northwest Capital Management, a firm with $5 billion in AUM.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
