Carson Group announced that its Carson Wealth advisory network has added The Shobe Financial Group, a Baton Rouge, LA-based registered investment advisor overseeing more than $500 million in assets.

The latest deal, which represents one of Carson Group’s biggest acquisitions, closed within the last week. Financial details were not made available.

Shobe’s partner and chairman Ed Shobe along with co-partner and president Jason Windham will continue to lead the team.

“We didn’t take this decision lightly – it’s been more than a year in the making, and after careful consideration and due diligence we know that our decision to join Carson Wealth is what is in our client’s and our team’s best interest,” noted Windham.

Omaha, NB-based Carson Group manages $21 billion in assets for more than 45,000 families through its network of more than 460 advisors. The Baton Rouge location will be the seventh wholly owned Carson Wealth office in the US.

Founded in 1983, the firm sold a minority stake to private equity firm Bain Capital at a valuation of $1 billion in 2021 with plans for part of those proceeds to fuel expansion by acquisitions.

Carson’s recent transactions include an equity stake in White Ember Financial Planning in January and the acquisition of Karn Couzens & Associates, an $800 million Connecticut-based firm, in May 2022.