Carson Group and Lido Advisors have announced new acquisitions aimed at expanding their respective footprints in the competitive RIA market, targeting succession planning and deepening specialization for niche client bases.
Carson Group, which manages nearly $41 billion in assets, revealed on Wednesday that it will fully acquire its Carson Wealth office in Orlando, Florida.
The location, originally established as Cadwell Wealth in 1989, joined Carson Group’s partner network in 2018. Founder Scott Cadwell will continue to lead the $150 million practice under the Carson Wealth brand.
The acquisition gives Cadwell access to the firm’s broader M&A infrastructure and technology offerings, which he said will assist in long-term planning and allow for deeper mentorship of second- and third-generation advisors.
“My goal is to create a 100-year company, so it was important to know that there would be a lasting relationship beyond my time as an advisor,” Cadwell, said in a statement, while also hinting at plans to expand within the Southeast.
Carson said the Orlando team will maintain its current office and personnel, and retain its additional locations in Florida and Nevada. The move is part of a wider growth push by Carson, which operates more than 150 partner offices nationwide, including over 50 under the Carson Wealth brand.
The past several months have seen Carson integrate partner RIAs into full-fledged Carson Wealth offices, with previous deals struck in Iowa, New Jersey, and Michigan.
Meanwhile, Lido Advisors announced a new partnership with BluePointe Capital Management, a Menlo Park-based RIA that oversees more than $870 million in assets and caters to technology entrepreneurs and executives.
“They have deep roots and a keen understanding of clients at the heart of one of the world’s foremost innovation and wealth creation centers,” Lido CEO Jason Ozur said of his firm's latest RIA partner in a statement.
BluePointe’s team, including founder Sanjeev Sardana, will join Lido as part of the deal. Sardana will become a partner and continue to serve high-net-worth clients in Silicon Valley, providing pre-liquidity event planning and access to alternative investment strategies.
Prior to founding BluePointe, Sardana had a three-year stint with Credit Suisse, before which he was with Donaldson, Lufkin & Jenrette, according to his advisor record with the SEC.
The partnership brings Lido's total assets to more than $29 billion, with 40 offices across the US.
Before bringing on BluePointe, the RIA aggregator inked some noteworthy deals in the fourth quarter of 2024, acquiring Pegasus Partners in Wisconsin, Platte River Wealth Advisors in Colorado, and Avitas Wealth Management in LA.
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