Building a $6B+ Firm by Listening to Clients: The Formula for Mastering Excellence and Creating a Superstar Enterprise

The Diamond Podcast for Financial Advisors

With Rob Nelson – CEO and Founder, NorthRock Partners

Overview

Since his last visit on the show 5 years ago, Rob Nelson’s NorthRock Partners has grown exponentially, serving a high net worth client base of professional athletes, entrepreneurs, and corporate executives. Rob offers valuable lessons derived from finding the “clearest path to excellence” for his clients and the NorthRock team.

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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

About this episode…

This episode is fueled by the perspective of hindsight, 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 “organically evolved,” as he put it, to serve a high net worth client base of professional athletes, entrepreneurs, corporate executives, and philanthropists.

Rob built the foundation of his practice at Ameriprise and its predecessors in 1993, and later transitioned from the broker dealer to become a fully independent RIA in 2013.

Rob and his team embraced an expansive list of services, many growing out of specific client needs and requests. In short order, they had created a firm that touted specifically 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 today, NorthRock grew from $1.9B to over $6B, with over 150 employees and 7 locations. Plus, Rob is set on doubling the business over the next two years.

The fact that they grew so rapidly 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:

• The NorthRock formula for success—and how their strategies can be leveraged as a blueprint to turbocharge growth.
• Their extraordinary client base—and what specific needs NorthRock addresses for them.
• The value of partnerships—and how Sammons Financial Group plays into their future goals.
• The role of “excellence”—and why that’s a critical part of their work with clients and the NorthRock team’s path 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 key takeaways for wirehouse advisors, business owners, and everyone in between.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

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Rob Nelson
CEO & Founder

Rob Nelson is Chief Executive Officer and Founder of NorthRock Partners. Bringing 30 years of industry leadership and executive management experience to his role with the company, Rob provides vision, direction, and strategy — continuing to develop a firm and business model centered around clients unique needs. Throughout his career, Rob has built a reputation for integrating non-industry client services within traditional financial and lifestyle advice to create an innovative and client-centric business model.

With a focus on driving a Personal Office® experience for every client, Rob continues to build a growing company that serves an exceptional client list of investors, entrepreneurs, athletes, Fortune 500 corporate executives, and multigenerational families from around the world.

Rob graduated from Bemidji State University in 1993, earning his bachelor’s degree in business administration. He proudly serves on the boards of Foundation X, Ashby Legacy Fund, Arrow Giving Foundation, and the Star Tribune Pension Board. He is passionate about giving back by serving communities, empowering people, and supporting organizations that help others reach their full potential.

Rob and his wife, Lucinda, live in the North Loop neighborhood of Minneapolis, Minnesota. They enjoy traveling with their son, Brady, and daughter-in-law, Tracy, and spending time with family and friends.

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