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Financial Advisory  + Direct Investment  + M&As  | 
Sammons Financial Takes Majority Stake in $5B Northrock Partners

Sammons Financial Takes Majority Stake in $5B Northrock Partners

Sammons Financial Group, a Midwest based annuity and insurance company, will take a majority stake in Minneapolis-based NorthRock Partners, a full-service financial and lifestyle advisory firm with about $5 billion in assets under management.

Financial terms of the deal were not disclosed.

“Our future with Sammons Financial Group allows us to both accelerate our growth and do so with excellence to bring our Personal Office (a model that serves over 1,500 clients) to more clients in more markets,” said Rob Nelson, CEO of NorthRock Partners.

Sammons Financial is privately-owned, with member companies in the financial services industry. It has $117 billion in GAAP assets, according to the firm. The company also has its own in-house turnkey asset management program — Beacon Capital Management — and is an investor in asset manager and investment bank Guggenheim Partners.

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NorthRock Partners Sammons Financial Group

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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