What does NorthRock Partners do?
NorthRock Partners is an SEC-registered investment advisory firm.
As of December 31, 2024, the firm reported approximately $6.6 billion in total assets under management (AUM).
How it works
NorthRock’s advisors begin by evaluating each client’s investment objectives, liquidity and cash flow needs, time horizon, and risk tolerance before developing a customized strategy.
Assets may be managed on a discretionary basis, allowing the firm to trade without prior approval, or on a non-discretionary basis, where the client authorizes transactions.
Portfolios are monitored on an ongoing basis and generally reviewed at least annually.
NorthRock provides services to individuals, trusts, estates, charitable organizations, corporations, private funds, and other business entities.
What are NorthRock Partners' key services?
NorthRock combines portfolio management with broader financial planning and consulting services.
Portfolio management and asset allocation:
Clients receive investment management, including asset allocation across various investment products.
Portfolios are structured around each client’s objectives, risk tolerance, liquidity needs, and time horizon.
Integrated financial planning (“Personal Office®” services):
In addition to managing investments, NorthRock offers financial planning and consulting services known as “Personal Office®.” These may include:
- Cash flow and budgeting
- Bill pays support
- Lending and credit analysis
- Retirement planning, estate and trust coordination
- Tax planning and preparation
- Charitable planning
- Executive compensation planning
- Succession planning
- Wealth transfer strategies and other related financial matters.
Retirement plan consulting：
NorthRock also provides investment consulting to participant-directed retirement plans such as 401(k) and 403(b) plans.
In this capacity, the firm may share ERISA 3(21) fiduciary responsibility with plan sponsors or, if appointed, assume ERISA 3(38) discretionary fiduciary responsibility.
What is NorthRock Partners’ investment philosophy?
NorthRock’s investment philosophy centers on a globally diversified asset allocation framework tailored to each client’s objectives and risk tolerance.
The approach emphasizes broad exposure across asset classes, diversification to manage portfolio risk, and periodic rebalancing to maintain strategic targets over time.
Depending on client needs, portfolios may incorporate independent investment managers. In some cases, allocations may extend to private funds, REITs, or other alternative investments.
What are the pros and cons of NorthRock Partners?
Here’s a summary of the key advantages and disadvantages to help you choose the right wealth management firm for your needs.
Pros of NorthRock Partners:
- Advisor-led portfolio management: NorthRock provides ongoing access to a financial advisor, rather than relying on an automated or robo approach.
- Integrated financial planning services: Through its “Personal Office®” model, clients may receive support across areas such as retirement planning, estate coordination, tax planning, succession strategies, and cash flow management.
- Flexible investment structure: Portfolios may incorporate traditional securities, independent investment managers, and alternative investments depending on client needs.
- Retirement plan consulting capabilities: NorthRock also provides consulting services for participant-directed retirement plans and may act as an ERISA 3(21) or 3(38) fiduciary when engaged.
- Specialized service focus for complex client profiles: The firm highlights dedicated service models for corporate executives, athletes and entertainers, and philanthropic clients.
Cons of NorthRock Partners:
- Minimum annual advisory fee requirement: NorthRock generally imposes a minimum program fee of $5,000 per year. While there is no stated minimum account size, this annual fee may effectively limit accessibility for smaller investors.
- Wrap fee structure may increase overall costs: Clients pay an ongoing bundled advisory fee, and total expenses may rise further if private funds or additional services are included.
- Potential fee layering with alternative investments: Investments in private funds or firm-sponsored vehicles may introduce additional fund-level expenses beyond the base advisory fee.
NorthRock Partners fees: How much does NorthRock Partners cost?
NorthRock Partners' standard asset-based program fee typically ranges from 0.50% to 1.25% per year, depending on the size and complexity of the relationship.
For assets custodied at Schwab or Fidelity and managed directly by the firm, an additional 0.25% is charged to cover brokerage and servicing costs, bringing the total range to 0.75%-1.50% annually.
Here is a breakdown of the fees.
Core advisory fee structure
| Fee type | Annual rate |
|---|---|
| Asset-based program fee | 0.50% – 1.25% |
| Program fee (assets at Schwab/Fidelity) | 0.75% – 1.50% |
| Minimum annual program fee | $5,000 |
Retirement plan consulting fees
For participant-directed retirement plans (such as 401(k) or 403(b) plans), fees typically range from:
| Service type | Annual rate |
|---|---|
| Retirement plan consulting | 0.20% – 1.00% |
| Flat fee | $500 – $10,000 |
Other potential charges
In addition to the Program Fee, clients may incur third-party costs, including:
- Custodial fees
- Mutual fund or ETF internal expense ratios
- Fees charged by independent managers
- Alternative investment-related fees
- Regulatory trading activity fees (SEC/FINRA)
- Transaction-related costs
What is NorthRock Partners’ minimum account size?
NorthRock Partners does not publish a specific minimum investment requirement.
However, the firm generally imposes a minimum annual program fee of $5,000 as a condition of participation in its advisory program.
As fees are primarily asset-based, this annual minimum may effectively raise the entry threshold, depending on the negotiated advisory rate.
Who should choose NorthRock Partners?
NorthRock Partners works well for:
- Clients with substantial investable assets: The minimum annual program fee and asset-based pricing structure suggest the service is positioned toward such clients.
- Professionals with complex finances: The firm highlights advisory services tailored to executives and individuals with specialized financial planning needs.
- Athletes, entertainers, and philanthropic clients: NorthRock offers dedicated service models for these clients, indicating a focus on more complex income streams and charitable planning strategies.
- Clients seeking integrated planning services: Those who value coordination across retirement planning, estate considerations, tax planning, succession strategies, and cash flow management.
- Retirement plan sponsors: It provides consulting services to participant-directed retirement plans and may act as an ERISA 3(21) or 3(38) fiduciary when engaged.
Who might not benefit as much:
- Cost-sensitive investors: The minimum annual fee and potential layered expenses from alternative investments may make the service less suitable for investors prioritizing low fees.
- Self-directed or active traders: The service is structured around long-term advisory relationships rather than frequent trading or individual stock selection.
- Beginning investors with smaller portfolios: While no formal asset minimum is disclosed, the $5,000 annual fee may effectively limit accessibility for entry-level investors.
- Investors seeking a fully digital experience: NorthRock operates as a relationship-based advisory firm rather than an automated, app-driven investment platform.
NorthRock Partners: Is it secure?
Yes, NorthRock Partners is considered secure from both regulatory and asset-custody standpoints.
The firm is registered with the U.S. Securities and Exchange Commission (SEC) and is subject to the regulatory framework governing registered investment advisers.
Client assets are generally held with independent third-party custodians, including Charles Schwab and Fidelity, rather than directly by NorthRock.
While no financial institution is entirely free from operational risk, NorthRock’s use of established custodians and adherence to SEC registration requirements align with standard safeguards within the wealth management industry.
NorthRock Partners: Customer service
NorthRock Partners operates under a relationship-based, advisor-led service model rather than a centralized or app-based support structure.
Clients typically work directly with their assigned advisory team, consistent with the firm’s “Personal Office®” approach.
While the firm offers phone and email communication and serves clients across multiple office locations, the primary emphasis is on ongoing, personalized advisor relationships rather than automated or digital-first customer support.
NorthRock Partners: Mobile app
NorthRock offers a mobile application called NorthRock My “Personal Office®”, designed as an online client portal that provides access to portfolio information and account details.
The app allows users to:
- View total portfolio value
- Access a balance sheet showing assets and liabilities
- Review account-level details
- Monitor activity summaries and recent transactions
- View allocation breakdowns by asset class and segment
- Track performance over time
- Store and share documents
- Receive alerts and notifications
Is NorthRock Partners worth it?
NorthRock Partners may be worth considering for clients seeking a comprehensive, advisor-led wealth management service that integrates portfolio management with broader financial planning. Its strengths stem from direct advisor involvement and the depth of planning services incorporated into the overall offering.
However, the $5,000 minimum annual fee and asset-based pricing structure may make it less suitable for smaller or more cost-sensitive investors, particularly those looking for a low-cost or fully digital investment platform.
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