Carson Group acquires wealth management firm Northface Capital Holdings

Nebraska-based Carson Group has acquired Northface Capital Holdings, a financial planning and wealth management firm, for an undisclosed price.

Based in Massachusetts, Northface Capital Holdings has $200 million in assets under management.

Carson Group said that Chris Tobey, the previous owner of Northface Capital Holdings sold the business for multiple reasons. The main factor is to enable the latter’s team to concentrate on future opportunities while letting Chris Tobey lead its growth strategy and give continuity to the company’s stakeholders and clients.

Chris Tobey said: “Transitioning to a wholly-owned Carson Wealth office will allow us to enhance how we serve our clients.

“Our decisions are based on what is in our clients’ best interest and this will put our team and clients in a better position.”

The Waltham location of Northface Capital Holdings will be the sixth fully-owned office of Carson Wealth in the US. Carson Wealth is one of the three businesses of Carson Group, which presently manages $20 billion in assets.

Nick Engelbart — Carson Group chief financial officer said: “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.

“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.”