Carson Group has acquired Elios Financial Group, an Ohio-based wealth management firm overseeing approximately $367 million in assets under management, bringing Carson to 50 integrated offices.
Elios Financial Group will become a Carson Wealth office in Westlake, Ohio, and will continue to be led by Managing Partner and Wealth Advisor James Elios, MBA, ChFC, CLU, AIF.
The transaction represents another expansion of Carson Wealth’s integrated office model as Carson Group grows a national advisory network that now manages more than $65 billion in assets.
Founded more than 25 years ago, Elios Financial Group focuses on helping families prepare for and navigate retirement through financial planning, education and personalized advisory services.
The firm’s team also includes Partner and Wealth Advisor Brandon Steinhagen, CFP, CRPC, along with three client support professionals.
Elios had a longstanding relationship with Carson before the transaction through Carson’s coaching and practice management program. James Elios said that experience gave him nearly two decades of familiarity with Carson’s organization, resources and approach to supporting independent advisory businesses.
As part of the transaction process, Elios evaluated other potential strategic options and retained outside representation before selecting Carson as its long-term partner.
Following the acquisition, the Elios team will gain access to Carson’s integrated wealth management platform while continuing to serve its existing client base.
Carson’s capabilities include advanced financial planning, investment management, tax and estate planning resources, private client offerings, marketing, technology and operational support.
The platform is designed to give advisory teams additional infrastructure and specialized resources while allowing advisors to maintain their existing client relationships and firm culture.
For Elios, the partnership is also intended to provide greater capacity for the team to focus on client service, business development and long-term succession planning while using Carson’s centralized capabilities for other parts of the business.
The acquisition marks Carson’s 50th integrated office, a milestone within a broader network that includes more than 165 partner offices and serves more than 60,000 client families.
Carson said the transaction reflects its continued focus on acquiring and partnering with established advisory firms seeking greater scale, expanded planning capabilities and additional operational resources.
Support: Alaris Acquisitions served as exclusive M&A advisor to Elios Financial Group.
KEY QUOTES:
“Reaching our 50th integrated office is a tremendous milestone in our journey and reflects the caliber of people and firms that have chosen to build their future with Carson Wealth. Advisors are choosing our platform because it gives them the scale, planning capabilities, technology and specialized expertise to grow while preserving the culture and client relationships that made them successful. Jim has built a highly successful practice, and we’re proud to welcome Elios to the Carson community. We’re excited about what we can build together.”
Burt White, CEO of Carson Group
“Since founding Elios Financial Group, our mission has been to help families make wise financial decisions and feel confident about their future. My relationship with Carson began through its coaching and practice management program, giving me nearly two decades to see firsthand how the firm will support that mission and empower our people to continue it. As we planned for the future of our clients, our team and the legacy we’ve built, Carson became the clear long-term partner to support us.”
James Elios, Managing Partner and Wealth Advisor at Elios Financial Group
“Jim knew Carson well through our coaching program, but we never took that relationship for granted. He did what a good business owner should do: He explored his options, brought in outside representation and took a hard look at what would be best for his clients, his team and the business he spent decades building. We stayed close, kept earning his trust and gave him the opportunity to experience where Carson is today. In the end, culture and fit mattered. That makes this one particularly meaningful for our team and is a great example of why we believe relationships and credibility built over time matter in this business.”
Michael Belluomini, SVP, Mergers & Acquisitions at Carson Group
