Northrock Partners, LLC

CRD#167908
Investment Advisor Firm

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Overview

Northrock Partners, LLC is located at 225 South Sixth Street, Minneapolis, MN. The firm employs 39 financial advisors to manage client portfolios and provide financial guidance. Northrock Partners, LLC is not a registered broker-dealer.

Northrock Partners, LLC oversees $5.8 billion in assets under management across 11,981 accounts, of which 11,109 are discretionary and 872 are non-discretionary. Over the past year, the firm has provided financial planning services to between 51 and 100 clients. The services offered include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers, educational seminars, and other services. The firm caters to retail investors, high net worth investors, charitable organizations, and corporations, with retail investors being the largest client type by accounts. The fee structure at Northrock Partners, LLC includes asset-based and fixed fees. The firm has 1,199 high net worth clients and maintains affiliations with an accountant or accounting firm.

Northrock Partners, LLC is registered in the states of Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.

Assets Under Management

$5.8 billion

Number of Advisors

39

Disclosures

No

Office Location

225 South Sixth Street
Minneapolis, MN 55402

Northrock Partners, LLC by the Numbers

Total Assets Under Management

$5.8 billion

National Average: $8.6 billion
Total Number of Employees

154

National Average: 64
Total Number of Accounts

11,981

National Average: 375,227
Average Account Size

$484.0 thousand

National Average: $23.0 thousand
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Products and Services

Northrock Partners, LLC provides a number of financial services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers, educational seminars, and other services. In the past fiscal year, Northrock Partners, LLC provided 51-100 of its accounts with financial planning services. The Firm does sell products or offer services different than investment advice to its clients.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 6% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees for financial management largely are based on the type of financial services provided. Fees charged by Northrock Partners, LLC most likely include any blend of the following fee types: asset-based or fixed. The firm does participate in a wrap fee program, in which the firm offers a bundle of services for a single fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

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    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 21% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

It caters to retail investors, high net worth investors, charitable organizations, and corporations. Out of its 4 clients, Northrock Partners, LLC's largest client type by number of accounts is high net worth investors, though it also serves 1199 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of more than $1,50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments).

  • High-Net-Worth Individuals* - 48.39%
  • Other Individuals - 50.81%
  • Corporations - 0.4%
  • Charitable Organizations - 0.4%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Northrock Partners, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Northrock Partners, LLC

Joy Wink
Minneapolis, MN
Ryan Masterson
Issaquah, WA
Paul Hill
Minneapolis, MN
Rachel Smith
Appleton, WI
Brian Kruse
Minneapolis, MN
Elliot Risbrudt
Minneapolis, MN
Erin Berns
Alexandria, MN
Austin Righeimer
Minneapolis, MN
Alison Diessner
San Francisco, CA

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The content in this profile was updated by SmartAsset on 6/19/2024. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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