NorthRock and Sammons Financial Group Announce Partnership to Transform the Wealth Management & Advice Industry
Top Advisory Firm and Leading Financial Services Company Join Forces to Expand Client-Centric Approach to Traditional Wealth Management Industry
MINNEAPOLIS, MN, October 20, 2023 -- NorthRock Partners, a full-service financial and lifestyle advisory firm, and Sammons Financial Group, a leading financial services company, today announce an industry-setting partnership aimed at enhancing and expanding the innovative client-centric approach that has made NorthRock a leader in the wealth management industry.
With $5 billion in assets under management, NorthRock’s unique Personal Office® model already serves more than 1,500 clients delivering bespoke, personalized advisory services — from investments to tax preparation to estate planning to philanthropic giving — all under one roof. Through this partnership, NorthRock will bring together its advice-led model with Sammons Financial Group’s shared vision and strong capital position.
"We built NorthRock on a steadfast commitment to put our clients first and deliver a personalized experience that extends beyond their financial goals to help them live their best life,” said Rob Nelson, CEO of NorthRock Partners. “Our future with Sammons Financial Group allows us to both accelerate our growth and do so with excellence to bring our Personal Office to more clients in more markets. Sammons Financial Group shares our vision of the future and are innovative partners in our journey to transform the wealth management and advice industry.”
In addition to their suite of services for corporate leaders, business owners, and family offices, NorthRock has also earned a reputation for innovation — launching several divisions, including NorthRock X which supports athletes and entertainers, Foundation X which supports philanthropists and foundations, and NRX Hockey which supports professional hockey players from around the world.
With $117 billion in GAAP assets, Sammons Financial Group is a diversified financial services organization. Sammons Financial Group is privately owned with member companies that are among the most enduring and stable in the financial services industry. Committed to its communities, Sammons Financial Group is Midwest-based, with offices in Iowa, Illinois, North Dakota, Ohio, and South Dakota.
"We’ve been carefully assessing market opportunities to grow our successful business – specifically in wealth management, which is a natural fit for us given our economic strength, stability, and decades’ long track-record of leadership in financial services,” said Esfand Dinshaw, CEO of Sammons Financial Group. “As we defined our strategy, we conducted a comprehensive search, and NorthRock Partners consistently rose to the top of our list. Rob and his leadership team shared their vision of delivering better advice to clients, and their unwavering commitment to client-centric service was abundantly clear in every conversation, drawing us naturally to the prospect of cementing a partnership.”
This collaboration represents a significant milestone for both companies and reaffirms their dedication to deliver a differentiated wealth management model centered around the holistic needs of the client.
About NorthRock Partners
NorthRock Partners is a leading financial and lifestyle advice firm committed to helping their clients live extraordinary lives. Through their Personal Office® experience, NorthRock seamlessly delivers uniquely tailored advice in areas such as investments, tax, insurance, legal and estate, and charitable giving. With more than 1,500 clients, $5 billion in assets under management, and multiple locations across the country, NorthRock has one of the most comprehensive offerings in the financial services industry and is in the top 1% of RIA firms in the country. For 30 years, the NorthRock team has put the client at the center of everything they do— building lifelong relationships and delivering unparalleled advice and services, equipping them to reach their potential. To learn more, visit www.northrockpartners.com.
About Sammons Financial Group
The companies of Sammons® Financial Group, Inc. help families and businesses by empowering futures and changing lives. Sammons Financial Group is privately owned with member companies that are among the most enduring and stable in the financial services industry. Our companies include Midland National® Life Insurance Company, North American Company for Life and Health Insurance®, Sammons Institutional Group®, and Beacon Capital Management, Inc. Committed to our communities, Sammons Financial Group is Midwest-based, with offices in Iowa, Illinois, North Dakota, Ohio, and South Dakota.