$42B Carson Group acquires Aveo Capital, expanding Rocky Mountain footprint

Carson Group is continuing to accelerate its inorganic growth strategy as it buys another independent firm in Colorado.

The Omaha, Nebraska-headquartered firm revealed it has fully acquired Aveo Capital, a Colorado-based RIA managing approximately $608 million in assets, furthering its growth strategy in the Rocky Mountain region.

The deal is Carson's 15th for 2025, continuing a broader trend of full integrations across its national network of partners.

Aveo Capital, based in Englewood, will transition into a Carson Wealth office. The firm was founded in 2011 by managing partner Keys Tinney and partners Brian Rorick and Michael Beerman.

All three will remain with the business under the new ownership structure.

Burt White, CEO of Carson Group, highlighted the trio's "unwavering dedication to delivering value for clients."

“As a built-in extension of their team, Carson will orchestrate support from industry-leading practitioners and in-house experts to help the Englewood team provide personalized services and enhanced experiences for clients,” White said in a statement announcing the latest acquisition.

Tinney emphasized the need to "enhance our services and solutions while maintaining the same level of strong, personal relationships we’ve built with each client.”

“The scale, innovative technology, holistic tax planning services and advanced investment capabilities will allow us to grow for generations to come,” he said.

Carson Group, which oversees more than $42 billion in assets and serves 54,000 households, has substantially ramped up the pace of its strategy to consolidate partner offices this year.

Earlier in July, the firm completed its acquisition of Jacob William Advisory in Cockeysville, Maryland. That team, led by founding partners Mark Ring and Dan Morrison, manages around $300 million in assets and had been affiliated with Carson since 2016.

In late June, Carson finalized the purchase of its Salt Lake City Carson Wealth office, which had operated as a partner firm since 2017. The Utah team, led by Duane Toney, manages about $143 million.

The firm began its deal calendar with the full acquisition of its Chicago office, a branch that had grown from $163 million in 2019 to over $1 billion in assets at the end of 2024 under the leadership of managing partner Mark McCallum.

Echelon Partners' 2024 RIA M&A Deal Report counted six Carson Wealth deals last year, putting it in a six-way tie with other firms like Hightower Advisors, Mariner, and Corient.

But in the first three months of this year alone, Echelon's Q1 2025 report already saw four Carson Wealth deals, representing $2.75 billion in assets acquired.

"The wealth management M&A market remained remarkably resilient [in Q1 2025], with 118 announced transactions, making it the most active first quarter and second most active quarter on record," Echelon said. "Given the industry’s resilience during 1Q25, ECHELON expects 2025 to be the most active year in dealmaking history."