Two large RIAs are expanding in the Mountain West, with Modern Wealth Management entering Colorado through acquisition and Carson Group deepening its Utah presence by integrating a local office.
Modern Wealth said it has acquired Brown and Company, a Denver-based advisory practice with about $1 billion in assets under management, giving the firm its first foothold in Colorado. The transaction is Modern Wealth’s 21st acquisition to date – its second large deal in the past month - and pushes its total AUM past $13 billion.
The Denver firm, founded in 1988 by Mark Brown, provides investment and retirement planning, advanced tax and estate strategies, philanthropic planning, and specialized services for business owners and executives. Brown and Company serves more than 200 households across the Denver area and the broader Rocky Mountain region.
“As we considered the future of the firm, it was important to find the right home for our team — one that would support a thoughtful succession plan, preserve the best elements of our firm and help us elevate our capabilities,” said Brown, who is joining Modern Wealth as managing director. “Modern Wealth stood out for its culture, capabilities and long-term vision. Joining them allows us to maintain the consistency and care our clients expect, while enhancing the personalized, high-touch experience that has defined our practice.”
Brown and Company’s eight-person team is moving onto Modern Wealth’s platform, including leadership team members Danielle Berz, Justin Cassida and Jonathan Kuiter. Modern Wealth said the move will give the advisors expanded support across marketing, technology, compliance, human resources and operations.
Carson Group, meanwhile, said it is bolstering its Utah foothold through the acquisition and full integration of Carson Wealth in Murray.
The practice is led by managing partner and wealth advisor Thom Hall and the office oversees about $160 million in AUM. It becomes Carson’s 43rd integrated office.
Hall has more than 30 years of experience advising families and business owners on wealth management, financial planning and investment strategy. He joined Carson in 2018 as an independent advisor and later rebranded as a Carson Wealth equity office. In recent years, his practice has increasingly focused on exit planning and helping business owners prepare for liquidity events.
He is joined by wealth advisors Matthew Johnson and Lawrence Macfarlane, associate advisor Landon DeCoursey, paraplanner Joshua Potts and five support staff members.
“Thom has built a thoughtful, values-driven practice that reflects exactly what we believe great advising should look like,” said Burt White, CEO of Carson Group. “This next step is about positioning that business to endure well beyond any one individual. By integrating with Carson, Thom and his team can focus on serving clients across generations while we provide the scale, infrastructure and specialized expertise to support that continuity. As his team grows and brings in the next generation of advisors, this model ensures clients are cared for not just today, but for decades to come.”
Hall said the integration supports both growth and risk management.
“This has been something I’ve considered for several years, and it ultimately came down to growth and focus,” said Hall. “Carson is growing quickly, and being part of that momentum gives us the opportunity to keep building while taking some risk off the table. More importantly, it allows me to focus on clients and growing the business over the next five to 10 years, which is exactly where I want to be.”
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