MAG Wealth Management announced the acquisition of Ovation Wealth Advisors and its subsequent rebranding to Carson Wealth. This strategic partnership, which includes Carson Group taking a 30% equity stake, exemplifies a new model for industry advisor growth and succession planning. The newly formed Carson Wealth location will oversee $350 million in assets under management (AUM) and be the first Carson Wealth branded location in Minnesota.
This team of eight will be led by founder and wealth advisor Jeremy Willner and his son, partner and wealth advisor Hayden Willner. And this merger represents a significant leap in scale, addressing a common growth challenge faced by many independent advisors.
Many advisory firms face significant challenges in scaling their businesses beyond certain AUM thresholds. And MAG Wealth Management’s strategic acquisitions and partnerships demonstrate one approach to overcoming these growth hurdles. By buying Premier Financial Resources in 2022 and 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.
This deal also represents succession planning, a critical issue in an industry where the average advisor age is 55. And 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 their current locations in Paynesville, Little Falls, and Minneapolis, Minnesota, with plans to grow the firm further.
Carson Group manages $38 billion in assets and serves over 50,000 client families among its advisory network of 150+ partner offices, including more than 50 Carson Wealth locations.
KEY QUOTES:
“Our journey with Carson Group, from coaching to partnership and now to equity participation, demonstrates the power of aligning with a national brand. 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.”
– Jeremy Willner
“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. 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.”
– Burt White, CEO of Carson Group
