Pros
- Progressive benefits (pseudo-sabbatical after 5y) - Great partner advisors - Brand awareness - All the remnants of a S-tier wealth mgmt firm For those that worked in the ‘old building’ era and before, Carson Wealth was a place where things got done. There was a magnetic presence to having Ron walk the halls and step into client meetings. The feel of a small, but nimble wealth management firm was truly refreshing. We charged (and still do) a premium fee, even compared to coastal firms and warehouses, but the brand and value prop was bulletproof. It wasn’t perfect, but it was truly a client centric business. You didn’t take this job for work life balance. You accepted this job because you knew it would require a lot of you, but we were all doing it together in service of our clients. Work hard, play hard.
Kontras
- Disconnected leadership - Priority shift from clients to IPO - Low pay for advisors and HO - Diminished value prop and ability to fulfill mission A combination of an expensive new HQ, entry of Bain/PE-money, and Ron making his departure official were the triple-whammy of Carson’s demise. The firm lost its Soul… its Why, and instead replaced it with the goal of improving profitability, both via cutting expenses (staff) and increasing inorganic revenue (inferior partner firms). As a manager, I can tell you we paid average at best, but often under market.