Carson Group announced Wednesday that it has entered an equity partnership with Northwest Capital Management, which manages more than $5 billion in assets and offers both wealth management for individuals and retirement plan services.
Northwest Capital Management, which was founded in 1998, has offices in Portland, Oregon, and Seattle. Its team of 13 will continue to be led by Brett Petty, the firm’s managing director, partner and senior investment advisor, and Fred Payne Jr., senior investment advisor.
"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," Petty said in a statement.
“This partnership will also provide us with new resources for our plan sponsor partners and their participants,” he added. “We will now have specialized support in technology and investment research, and we will also broaden our depth of compliance and regulatory support.”
From Carson Group's perspective, the deal adds to its footprint in the Northwest and also bolsters retirement offerings from Carson Group.
“Our partnership with NWCM is another part of the strategic puzzle that will allow us to better compete in the retirement planning space,” Jamie Hopkins, managing partner of wealth solutions at Carson Group, said in the statement.
Carson Group oversees $28.2 billion in assets and has more than 140 offices in its advisory network.
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