Larry Carroll Funds New Entrepreneurship Center at Austin Peay

Austin Peay State University alumnus Larry Carroll, who sold a wealth management firm overseeing roughly $4.7 billion in client assets, is bankrolling a new entrepreneurship center at his alma mater in Clarksville, Tennessee.

The Carroll Entrepreneurship Center will operate as a university-wide, community-facing hub to expand innovation, support new venture creation and strengthen the regional economy. It launches without requiring new university funds, according to the university.

The center will be based at The Press, a collaborative workspace at 211 South Second Street in downtown Clarksville. The Press will build out a new office suite for the center that includes three offices, a reception area and access to the building's amenities. APSU's Tennessee Small Business Development Center, also housed at The Press, will sit nearby, giving entrepreneurs added access to complementary business resources.

The College of Business will host the center administratively, but its programming will serve APSU students across all disciplines as well as aspiring entrepreneurs throughout the Clarksville region. The university said the investment positions Austin Peay as an essential partner in advancing Clarksville's economic future.

"Throughout my career, I've witnessed firsthand how entrepreneurship transforms communities and creates opportunities," Carroll said. "Austin Peay State University gave me the foundation I needed to build my business, and I want to ensure future generations of students and community members have access to the resources, mentorship, and support they need to turn their ideas into thriving ventures."

Carroll graduated from APSU in 1976. He founded Carroll Financial Associates in 1980 and ran it until Wealth Enhancement Group, where he is now a senior vice president and senior consultant based in Charlotte, North Carolina, acquired the firm in 2021. At the time of the acquisition, the firm managed approximately $4.7 billion in client assets.

His industry record is long. Forbes has named him to its list of America's Top 200 Wealth Advisors and ranked him No. 1 for North Carolina (West) on its Best-In-State Wealth Advisors list. Worth Magazine has listed him 12 times among The Nation's Most Exclusive Wealth Managers, and he has appeared on all of Barron's annual lists of The Top Financial Advisors.

The new center extends a giving streak that spans more than a decade. Carroll provided the lead gift for the Larry Carroll Financial Trading Center in 2015, established the Baggett-Carroll Endowed Scholarship, and in 2021 created both the Larry W. Carroll Govs Fund for student investment management and the AJ Taylor Distinguished Professorship. He received the Tennessee Board of Regents' Chancellor's Award for Excellence in Philanthropy in 2012 and the inaugural APSU Presidential Medal of Distinction in 2021. He also served on the university's board of trustees.

"Few people have touched as many corners of Austin Peay State University as Larry Carroll," said APSU President Dr. Mike Licari. "Our students learn to trade in the financial trading center he made possible and gain real-world investment management experience through the Govs Fund that bears his name. His scholarship opens doors for students, and his distinguished professorship helps us attract and retain outstanding faculty. During his service on our board of trustees, he helped guide the direction of this university, and he has never stopped investing in its future. With the Carroll Entrepreneurship Center, Larry is extending that impact beyond our campus and into the heart of Clarksville. Austin Peay State University is a stronger university, and Clarksville a stronger community, because of him."

The center also lands as the College of Business marks its AACSB accreditation, the hallmark standard in business education. The college said the new hub aligns with its commitments to experiential learning and community engagement.

"As we celebrate our AACSB accreditation—the hallmark of excellence in business education—we want to continue finding new ways to support businesses in our community," said Dr. Mickey Hepner, dean of the APSU College of Business. "Larry's generosity enables us to expand our impact while creating new opportunities for local entrepreneurs. This investment in our community positions the College of Business as a catalyst for new business creation right here in Clarksville, further strengthening our economy and helping transform great ideas into thriving businesses."

Kris Phillips, APSU's vice president for Alumni, Engagement and Philanthropy, called the gift a long-term bet on the region.

"Larry Carroll exemplifies what it means to be a transformational investor," Phillips said. "His vision extends beyond the classroom to address real needs in our community. The Carroll Entrepreneurship Center will create a lasting legacy—empowering students to become job creators, and it will strengthen the economic fabric of our community. This is the Govs For Life Experience at its finest."

With the center's launch, APSU ties its entrepreneurship programming directly into downtown Clarksville's business district — and gives the university a physical stake in the next generation of local venture formation.