NorthRock Partners Buys $2.7B California RIA 

NorthRock Partners has acquired Roseville, CA-based WGG Wealth Partners, an advisory team that oversees $2.7 billion in client assets and has 15 financial advisors. 

WGG Wealth Partners joined NorthRock on July 10 and was previously affiliated with Ameriprise Financial. The firm is led by Colin Grahl, Bret Glover, and Stephen Westlake. 

The firm offers wealth management, financial planning, investment management, estate and tax planning, and insurance to high-net-worth individuals and families. 

NorthRock’s latest addition marks the firm’s third acquisition for the year and adds to its expanding Personal Office model. 

“We’re building partnerships with teams who share our belief that great advice connects every part of a client’s life,” NorthRock’s CEO Rob Nelson said to Connect Money. “Growth through M&A is deliberate and values-driven, adding talent and capability while strengthening our presence in key markets.” 

In 2019, Emigrant Partners, a subsidiary of New York Private Bank & Trust, purchased a minority stake, but Emigrant Partners exited its position after Sammons Financial Group, an insurance holding company, purchased a majority stake in 2023. 

In 2022, NorthRock launched its NorthRock X, a sports and entertainment division, which is run by former NBA player Tony Parker. The firm also has a charitable platform, Foundation X, which provides philanthropy through “strategic giving, employee engagement, and innovative partnerships” for clients. 

In July, NorthRock Partners acquired Berkeley, CA-based Parkside Advisors, which manages about $800 million in client assets. The deal establishes an office in Berkeley, adding to NorthRock’s current San Francisco and San Rafael locations and expanding its local footprint in Northern California. 

Minneapolis-based NorthRock Partners manages over $9.4 billion in assets for over 3,300 clients, the firm said. 

Pictured: WGG Wealth Partners