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Financial Advisory  + Direct Investment  + M&As  + RIAs & Financial Advisors  |  June 23, 2023
Carson Group Buys $5B Portland RIA in Largest Deal Yet
Joe Palmisano
By: Joe Palmisano

Carson Group Buys $5B Portland RIA in Largest Deal Yet

Carson Group announced an equity partnership with Northwest Capital Management (NWCM), a Portland, OR-based retirement and investment advisory firm with more than $5 billion in client assets, making it Carson’s largest deal to date.

Financial terms of the deal were not disclosed.

Founded in 1998, the 13-member NWCM team will continue to be led by Managing Director, Partner and Senior Investment Advisor, Brent Petty and Senior Investment Advisor, Fred Payne, Jr.

“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,” said Petty.

Omaha, NE-based Carson Group has built up its retirement plan offerings and its ability to offer holistic planning through recent strategic partnerships with Vestwell, BOK Financial Advisor Trust Services and Trust & Will, as well as several recent strategic hires. The NWCM partnership allows for further expansion of such offerings.

Carson Group currently manages $28.2 billion in assets and serves more than 46,000 families among its advisory network of 140+ partner offices.

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Inside The Story

Carson GroupNorthwest Capital Management

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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