Carson Group, an Omaha, Neb.-based wealth advisory firm with more than $60 billion in assets under management, has lured a Wells Fargo breakaway team overseeing about $1.76 billion in advisory and brokerage assets, in its largest wealth acquisition by assets to date.
Doyle and Loughman Wealth Management is joining Carson from Wells Fargo Advisors Financial Network, and marks the second Hanover, N.H. location for Carson Wealth.
The firm was founded by managing partners and wealth advisors Brian Doyle and Stephen Loughman, both of whom had been with Wells Fargo for over 18 years, though they shifted to FiNet in 2023, according to BrokerCheck. Their broker/dealer business will now shift to Carson affiliate Cetera Advisor Network.
“This new partnership gives us the ability to remain the firm our clients know and trust while significantly expanding the resources available to them,” Doyle said in a statement.
The team includes wealth advisors Bradley Michalchuk and Kristen Laundry, as well as seven operations support staff.
Doyle and Loughman Wealth Management will shift from Wells to Carson’s platform, including planning capabilities, investment management, tax and estate planning resources, Private Client Services offerings, marketing support and operational infrastructure.
“They are growth-oriented entrepreneurs who have built something special and want access to more capabilities without losing what made them successful in the first place,” Michael Belluomini, senior vice president of mergers and acquisitions at Carson Group, wrote via email. “We believe Carson can help accelerate their momentum by giving them the technology, advanced planning resources, coaching and operational support to spend even more time doing what they do best—serving clients and growing the business.”
Carson is majority owned by founder Omani Carson and employees, with a minority investment from Bain Capital.
According to a second-quarter M&A report by investment bank and consultancy Echelon Partners this week, Carson’s six deals through the first half of this year are the third-most deals of any RIA. It sits behind Stratos Wealth Network, which is owned by SEI Investments, at 11, and Wealth Enhancement at 7.
Carson works with more than 60,000 client families among its network of 165-plus partner offices and more than 50 Carson Wealth locations.