Carson Wealth: Platform Profile

Overview

Carson Wealth is a consumer wealth-management brand whose principal investment-advisory entity is:

CWM, LLC.

The current legal structure matters because the Carson ecosystem can also include:

• Carson Partners;
• location-specific advisers;
• affiliated or separately owned broker-dealer relationships;
• insurance activities;
• third-party custodians;
• trust solutions;
• technology vendors.

Current investment model minimums generally range from:

• Model minimum range: $5,000-$250,000

Current investment-advisory fees are negotiable and can be as high as:

• Maximum advisory fee: 2.50% annually

There is no one universal Carson Wealth client fee.

The exact rate can vary by:

• adviser;
• account size;
• investment type;
• complexity;
• services;
• wrap/non-wrap choice.

May fit better for

• investors seeking discretionary portfolio management;
• clients who want a dedicated adviser;
• households needing financial planning beyond investments;
• investors comfortable with negotiated pricing;
• clients whose asset level fits one of Carson's model minimums;
• high-net-worth households seeking private-client services;
• eligible investors considering selected alternatives.

May fit less well for

• investors seeking a standardized low-fee robo account;
• clients who want one public percentage;
• investors who want no custodian or affiliate economic conflicts;
• users who assume every Carson location uses the same brokerage arrangement;
• clients who want to approve every trade;
• investors who assume wrap pricing includes fund expenses;
• clients who need daily liquidity from every alternative strategy.

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CWM, LLC is the registered adviser

Current IAPD information identifies:

• Investment adviser: CWM, LLC
• CRD: 155344
• SEC number: 801-72037
• SEC registration effective: 2011-01-03

The current combined Form CRS/Form ADV used here was revised in March 2026.

Store the legal adviser separately from the Carson Wealth brand.

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Model minimums range from $5,000 to $250,000

Current disclosure states:

• Investment model minimum range: $5,000-$250,000

The applicable minimum depends on the program or model.

Carson Wealth minimum = $5,000

without explaining that other models require substantially more.

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Advisory fees can be negotiated up to 2.50%

Current disclosure states:

• Maximum investment advisory fee: 2.50% annually
• Fees negotiable: Yes

Actual fees vary by:

• IAR;
• balance;
• asset type;
• service scope;
• account complexity.

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Same service can be priced differently by adviser

Current disclosure explicitly notes that different investment adviser representatives can charge different fees for the same or similar service.

This is a material comparison issue.

The relevant cost is the fee in the client's own agreement.

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Financial planning can be hourly or fixed-fee

Current disclosure permits financial planning fees up to:

• Planning hourly maximum: $500/hour

Fixed planning fees generally range from:

• Fixed planning fee: $500-$25,000 or more

Store these as separate planning charges.

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Asset management is discretionary

Current disclosure describes asset-management services as discretionary.

The adviser can buy and sell within the agreed mandate without obtaining approval for each individual transaction.

Planning recommendations for outside assets remain a separate question.

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Wrap and non-wrap programs have different cost mechanics

Carson offers:

• Wrap programs: Yes
• Non wrap programs: Yes

A wrap fee can include:

• advisory services;
• ordinary brokerage transaction charges;
• custody elements.

Non-wrap accounts can incur transaction costs separately.

Even in a wrap relationship, separate costs can remain:

• mutual-fund expenses;
• ETF expenses;
• private-fund expenses;
• certain account charges;
• taxes.

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Primary custody includes Fidelity and Schwab

Current disclosure states that client assets are primarily held with:

• Fidelity Institutional Wealth Services / National Financial Services;
• Charles Schwab & Co., Inc.;
• other qualified custodians where applicable.

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Brokerage affiliation is not universal across every Carson adviser

Current disclosures reference separate brokerage activity through Cetera Wealth Services, LLC for certain representatives.

A representative acting in a brokerage or insurance capacity can receive transaction-based compensation.

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Flourish cash-program economics create a current conflict

Current 2026 disclosure added an economic relationship involving Flourish.

CWM can receive a percentage of net program-bank revenue generated on eligible client cash held through the program.

The incentive should be disclosed because CWM can economically benefit from client use of the program.

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Vanilla ownership creates an estate-planning technology conflict

Current 2026 disclosure identifies an ownership/investment relationship involving Vanilla, an estate-planning technology provider.

Estate documents can involve unaffiliated law firms.

CWM is not automatically the law firm preparing the documents.

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Trust services require legal separation

Carson Trust Solutions can involve third-party trust providers including:

• BOK Financial Advisor Trust Services;
• National Advisors Holdings / related trust structure.

Current disclosure states CWM and affiliates are not the ultimate custodian in those trust arrangements.

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Alternatives are model- and client-specific

Carson's private-client materials discuss access to alternatives that can include:

• private equity;
• private credit;
• real assets;
• art or other specialized exposures;
• other private investments.

Private investments can carry:

• higher fees;
• long holding periods;
• accreditation requirements;
• valuation uncertainty;
• limited liquidity.

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No performance-based advisory fee

Current disclosure states:

• Performance based fee: No

CWM's ordinary advisory compensation does not depend on a percentage of portfolio gains.

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Regulatory AUM is a dated firm metric

Current 2026 disclosure reports approximately, as of December 31, 2025:

• Regulatory AUM: $50.580 billion
• Discretionary AUM: $49.464 billion
• Non discretionary AUM: $1.115 billion

Keep these dated.

Assessment

Carson Wealth's pricing is adviser-specific by design.

That makes a single “Carson fee” less useful than the contractual quote.

The strongest current data points are:

• model minimums from $5,000 to $250,000;
• negotiated advisory fees up to 2.50%;
• discretionary asset management;
• wrap and non-wrap options;
• primary Fidelity and Schwab custody.

The 2026 disclosure also makes conflict analysis more important.

Cash-program revenue sharing and the Vanilla ownership relationship are not reasons to reject the firm automatically.

They are reasons to ask:

• Who is paid?
• How much?
• Is the service optional?
• What alternatives are available?
• Does the adviser financially benefit from the recommendation?