This episode is fueled by the perspective of inevitability, which provides a unique lens into the growth trajectory of an RIA.
Five years ago, Rob Nelson joined us on this series to talk about his business model, which “evolved organically,” as he put it, to serve a high-net-worth athlete client base professionals, entrepreneurs, corporate executives and philanthropists.
Rob built the foundation of his practice at Ameriprise and its predecessors in 1993, and later transitioned from broker-dealer to become a fully independent RIA in 2013.
Rob and his team embrace an extensive list of services, many of which grew out of specific client needs and requirements. In short, they had created a firm that promoted specially tailored offerings—even a separate firm focused solely on philanthropic efforts.
NorthRock's early success attracted an equity investment from Emigrant Partners and, more recently, insurance holding company Sammons Financial Group.
From 2019 to date, NorthRock grew from $1.9 billion to over $6 billion, with over 150 employees and 7 locations. Plus, Rob is set to double the business over the next two years.
That they grew so quickly isn't the real story here—it's how they did it.
In this episode, Mindy Diamond revisits Rob's journey, discussing how they got from there to here, including:
- NorthRock's formula for success – and how their strategies can be used as a blueprint for turbocharging growth.
- Their exceptional customer base – and the specific needs that NorthRock addresses for them.
- The value of partnerships – and how Sammons Financial Group plays into their future goals.
- The role of “excellence”—and why it's a critical part of their work with clients and the NorthRock team moving forward.
Plus, Rob talks about their partnerships, M&A, philanthropy and their plans for future growth. It's an episode that looks at a timeline of success, with top recommendations for office consultants, business owners, and everyone in between.