Carson Group Acquires $635M California RIA Applied Financial Planning
Carson Group, a wealth advisory firm managing more than $56 billion in assets, has acquired its long-term partner firm, Applied Financial Planning. The Irvine, Calif.-based firm serves approximately $635 million in advisory and brokerage assets.
Founded in 1986 by William C. O’Connor, Applied Financial Planning originally began as a tax-focused practice. Over nearly four decades, it evolved into a comprehensive wealth management firm led by O’Connor and Sean Walker, managing partner. Today, the firm consists of seven advisers and an 11-member support team specializing in investment management, retirement, estate planning, and tax strategy.
“Applied Financial Planning demonstrates what advisers can build through decades of disciplined leadership, deep client relationships and a commitment to serving families across generations,” said Burt White, chief executive officer of Carson Group. White noted that Carson Group’s infrastructure – including advanced technology and high-net-worth solutions – is designed to help such legacy firms endure for future generations.
The relationship between the two entities spans several decades; O’Connor was an early participant in Carson Group’s coaching program before formally affiliating as an independent partner in 2020.
Under this new wholly owned structure, O’Connor emphasized a shared vision of building a “100-year firm” that outlasts its original founders. “Carson shares that mindset, and our new partnership ensures that the values we have lived by for nearly four decades will continue well into the future,” O’Connor stated.
Walker added that the transition provides the necessary scale and succession structure to serve clients alongside their children and grandchildren.
Applied Financial Planning marks the 39th wholly owned location for Carson Wealth as the parent firm continues its aggressive nationwide expansion. Carson said the acquisition strengthens its presence in the competitive California market.
In January, Carson Group fully acquired the Carson Wealth location in Minneapolis, Minn. Led by Jeremy Willner, managing partner and wealth adviser, the firm serves approximately $395 million in advisory and brokerage assets. In 2024, Carson Group acquired a 30% equity stake in the practice and the team rebranded as Carson Wealth.
Carson Group’s broader advisory network now includes more than 165 partner offices serving over 60,000 client families.
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