Carson Group Acquires $200M AUM Waltham Firm

Carson Group today announced the acquisition of Northface Capital Holdings, LLC, a full-service financial planning and wealth management firm with $200 million in assets under management.

The Northface team, now led by Chris Tobey, sold its ownership in the firm to Carson for several reasons. Key was the desire to allow the team to focus on future opportunities while enabling Tobey to lead the firm’s growth strategy and provide continuity for the firm’s stakeholders and clients now and well into the future.

“Transitioning to a wholly-owned Carson Wealth office will allow us to enhance how we serve our clients,” explains Tobey. “Our decisions are based on what is in our clients’ best interest and this will put our team and clients in a better position.”

According to a 2018 study by the Financial Planning Association, only 27% of financial advisors have a succession plan in place, even as 93% recognize that the lack of a plan poses a risk to their livelihood.

“Carson’s business model accommodates many advisors’ growth and operational needs, but providing a smooth transition plan where one advisor can pass the reins to the next generation and know that their clients will be taken care of is one of the most powerful,” said Nick Engelbart, chief financial officer at Carson Group. “In many cases, that may mean partnering with Carson to leverage our practice management support, in other scenarios that could be transitioning into a partly owned or wholly owned office.”

Tobey adds, “Having been a Carson partner for almost three years, I have seen how there is no complacency. The company’s enduring goal is to continually provide advisors with the best tools and resources.”

The Waltham location will be the sixth wholly owned Carson Wealth office in the U.S.

“We see Carson Group as a long-term partner that will allow us to succeed and grow into the future.”

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