Northrock Partners, LLC

NorthRock serves individuals (including high-net-worth clients), trusts, estates, charitable organizations, corporations and private funds through a wrap-fee wealth management program that includes financial planning, portfolio management, participant-directed retirement plan consulting (ERISA 3(21) and, when appointed, 3(38) services), and non-investment Personal Office® services. The firm also offers tax planning and preparation through affiliated entities (NorthRock Partners Tax Services, LLC and Private Tax Services, LLC), bill-pay services, and discretionary and non-discretionary investment management delivered via custodian relationships with Schwab and Fidelity.

The firm describes a holistic, asset-allocation driven approach that emphasizes diversification, rebalancing and the use of Independent Managers for particular strategies, while conducting due diligence and ongoing monitoring of those managers though it does not independently verify all third-party performance information. NorthRock also allocates to private pooled vehicles and sponsor-managed Funds, and discloses that clients investing in those Funds may face layered fees and that the firm may charge performance-based fees, which the firm says creates potential conflicts that it seeks to manage through policies and disclosures.

Distinctive features include the firm’s operational ties to accounting and tax professionals and the presence of licensed insurance agents among its personnel who may facilitate insurance transactions on a commission basis, alongside lifestyle-management services (NRX) and charitable consulting through Foundation X. NorthRock is majority owned by a Sammons Financial Group subsidiary and discloses a related-party capital commitment arrangement (Sammons’ $200 million commitment to Coller Capital and the firm’s potential ability to allocate up to $100 million of that commitment to clients), and it sponsors private Funds—factors the brochure identifies as material conflicts the firm addresses through its compliance procedures.