NorthRock Partners Adds $500M Illinois RIA in First Deal of Year
NorthRock Partners has acquired Martin & Associates, an Illinois-based advisory firm previously affiliated with Ameriprise Financial, adding approximately $500 million in assets under management. The transaction marks NorthRock’s first acquisition of the year and pushes firmwide AUM past $11 billion.
As part of the transition, the Martin & Associates team will integrate into NorthRock’s “Personal Office” model, gaining access to in-house specialists across investments, tax strategy, estate planning, insurance, legal coordination, business advisory, and philanthropy.
“We’re focused on building the future of professional advice — one that isn’t siloed into just financial decisions but integrates every dimension of a client’s life,” said Rob Nelson, CEO and founder of NorthRock Partners.
Martin & Associates brings five employees to the platform, including four experienced advisors. Clients will transition onto NorthRock’s technology and planning infrastructure as part of the integration process.
The deal also strengthens NorthRock’s regional presence. “This partnership builds on our already established Midwest and Illinois presence and allows us to continue growing in markets where we’re deeply committed for the long term,” said Sean Baenen, managing partner at NorthRock Partners and head of the firm’s M&A strategy.
The acquisition follows a busy second half of last year for NorthRock. In October, the firm acquired Roseville, California–based WGG Wealth Partners, a $2.7 billion advisory business with 15 financial advisors. That deal followed the July acquisition of Berkeley, California–based Parkside Advisors, which oversees approximately $800 million in client assets.
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