Strategic deal aims to accelerate inorganic growth
MAG Wealth Management announced its acquisition of Ovation Wealth Advisors and its subsequent rebranding to Carson Wealth.The strategic partnership, which includes Carson Group taking a 30% equity stake, exemplifies a new model for advisor growth and succession planning in the industry.
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The newly formed Carson Wealth location will oversee $350 million in assets under management (AUM) and be the first Carson Wealth branded location in the state of Minnesota. The team of eight will be led by founder and wealth advisor Jeremy Willner and his son, partner and wealth advisor Hayden Willner. This merger represents a significant leap in scale, addressing a common growth challenge faced by many independent advisors.
“Our journey with Carson Group, from coaching to partnership and now to equity participation, demonstrates the power of aligning with a national brand, said Willner. “This partnership represents a pivotal moment in our firm’s journey, offering a compelling path for us to overcome growth plateaus and secure our legacy. By aligning with Carson Group, not only are we enhancing our capabilities but also solidifying our commitment to our clients by ensuring a lasting legacy for our firm for years to come.”
Many advisory firms face challenges in scaling their businesses beyond certain AUM thresholds. MAG Wealth Management’s strategic acquisitions and partnerships demonstrate one approach to overcoming these growth hurdles. By acquiring Premier Financial Resources in 2022 and now acquiring Ovation Wealth Advisors, MAG Wealth has significantly expanded its AUM footprint, illustrating how strategic partnerships can accelerate growth and provide a succession planning solution.
“With the addition of Jeremy and his team, we continue to strengthen our Midwest presence and gain a proven team dedicated to client service and multi-generational planning. Their expertise in inorganic growth strategies will enhance our entire network as we continue to evolve in this dynamic industry,” said Burt White, CEO of Carson Group. “Our partnership exemplifies our commitment to empowering advisors by offering the scale, technology and operational support that enable firms to focus on client relationships and growth.”
This deal also addresses succession planning, a critical issue in an industry where the average advisor age is 55. By joining Carson Wealth, Willner has secured a clear path for the future of his practice, ensuring continuity for clients and opportunities for the next generation of advisors.
The newly formed Carson Wealth offices will maintain its current locations in Paynesville, Little Falls and Minneapolis, Minnesota, with plans to grow the firm further.
Carson Group currently manages $38 billion* in assets and serves more than 50,000 client families among its advisory network of 150+ partner offices, including more than 50 Carson Wealth locations. For more information about Carson and partnership opportunities, visit https://www.carsongroup.com/ways-to-join/partnership/.
*Combined AUM of CWM, LLC and NWCM, LLC
Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor. Carson Wealth is a doing business as “dba” name of CWM, LLC. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors. Carson Coaching and CWM, LLC are separate but affiliated companies and wholly-owned subsidiaries of Carson Group Holdings, LLC. Carson Coaching does not provide advisory services.
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SOURCE Carson Group
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