M and A
Deals Of The Day: The Latest In Wealth Management M&A – NorthRock Partners
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
NorthRock Partners
NorthRock
Partners, a financial and lifestyle advisory firm based in
Minneapolis and with offices in the San Francisco’s Bay
Area, has acquired Parkside Advisors, an RIA with $800 million in
AuM – NorthRock’s second acquisition this year.
Managing principals Charlie Benziger and Audrey Grubman, along with their team of advisors and staff, will join NorthRock, the latter firm said in a statement.
The Parkside Advisors deal means that NorthRock will have an office in Berkeley, complementing its existing offices in San Francisco and San Rafael.
NorthRock manages more than $8.6 billion in assets for over 2,800 clients. It recently expanded in Chicago in addition to acquisitions in Appleton, Raleigh-Durham and San Francisco. NorthRock’s business lines include specialist services such as NorthRock X serving athletes and entertainers, Foundation X focusing on philanthropists, and NRX Hockey dedicated to professional hockey players.
To see a separate report, today, about M&A trends in North American wealth management, see here.