Carson Wealth has brokered a deal to acquire an equity stake in White Ember Financial Planning, which has $117m in assets under management.

The acquisition of Nevada-based White Ember Financial Planning marks Carson Group’s foray into Missouri.

Following the completion of the deal, White Ember Financial Planning will rebrand as a Carson Wealth office.

White Ember Financial Planning managing director, partner and wealth advisor Ross Lawrence said: “We’re thrilled to become Carson Wealth because we know it’s the right decision for our clients and our community.

“This change enables us to align with a bigger firm – one that will allow us to bring on additional advisors and continue to fuel our firm’s organic growth, all while continuing to provide an exceptional client experience.”

In 2006, White Ember Financial Planning’s previous owner and Lawrence’s mentor, Greg Hoffman, became affiliated with Carson Coaching.

Lawrence, who acquired the firm in 2016, also joined Carson Partners.

Carson Partners is a network of financial advisors that uses operations, investment, marketing, technology and compliance support of Carson to operate better and accelerate growth.

Carson vice president of mergers and acquisitions Michael Belluomini said: “We love partnering with advisors like Ross who want to grow.

“Most advisors think the only way to partner is to sell. But equity partnerships like this one let owners like Ross retain all the control and get the resources they need to increase the firm’s growth potential.”

Currently, Carson Group manages over $20bn in assets and serves more than 44,700 families through its advisory network, including 136 partner firms and 36 Carson Wealth locations.