NEW YORK, April 2, 2019 /PRNewswire/ -- New York Private Bank & Trust (NYPB&T), through its subsidiary Emigrant Partners, has made an investment in NorthRock Partners, the Minneapolis-based advisory firm that provides a host of exclusive client service offerings to the Midwest's most discerning and affluent families.
The new partnership will provide NorthRock Partners, which currently oversees $1.5 billion in assets, with additional expertise, resources, and the capital to expand its brick and mortar offices from coast to coast while adding depth to its already impressive list of unique client service offerings within the family office space.
With over 25 years earning an exceptional reputation and brand, NorthRock Partners is a nationally recognized advice firm pioneering a client experience by offering financial management with in-house access to tax services, trust and estate planning, family foundations and charitable giving, private investments, concierge services, and lifestyle management advice. Through its new relationship, NorthRock Partners joins forces with the largest privately held, family owned and operated bank in the country. NYPB&T is led by philanthropist, financier and entrepreneur Howard Milstein, representing the third generation of New York's prominent Milstein banking and real estate family.
Through its various companies, NYPB&T owns and invests in industries that include financial services, real estate, technology and sports. Most recently, Howard Milstein and NYPB&T have increased their holdings in the golf world, including ownership of GOLF Magazine, GOLF.com, and the Nicklaus Companies (in partnership with legendary golfer Jack Nicklaus).
"What Howard Milstein and his team have supported in similar strategic partnerships is exciting. We're always looking for partners with a shared mindset; inspired and creative enough to approach something as routinely traditional as the family office space and elevate a new standard of client experience - as we have with the Personal Office™," says NorthRock Partners' CEO and Founding Partner, Rob Nelson, who is consistently ranked a top US Financial Advisor by Barron's. "Even an audience as particular as our high-performing sports and entertainment clientele will notice a deepened service offering through this partnership given the resources and relationships of NYPB&T. The future for that division now becomes more promising and that's only one segment of our clientele. Our Fortune 500 executives, entrepreneurs and business owners, and affluent families will experience an evolving menu of services as well."
"Our goal is to form close partnerships with our portfolio firms, using our unique blend of resources, network and experience to help each partner firm realize its goals," said Karl Heckenberg, CEO of Emigrant Partners and Fiduciary Network (FN). "NorthRock Partners is far more than a typical RIA, with a range of innovative services that go beyond investment management and a diverse client base that fits well with our own. We look forward to playing a role in continuing NorthRock's success."
NorthRock Partners is a finance and lifestyle advisory firm focused on providing comprehensive, integrated wealth management services to the affluent and emerging affluent marketplace. NorthRock Partners is committed to helping exceptional people live exceptional lives. Through the Personal Office™ experience, advisors deliver financial and lifestyle advice services uniquely tailored to give clients more time to make the impact they want on the world and live their best life. NorthRock Partners is headquartered in Minneapolis, Minnesota with offices in Seattle and Manhattan with nearly 50 employees nationwide. More information can be found at www.northrockpartners.com.
New York Private Bank & Trust (NYPB&T) was founded in 1850 to serve the financial needs of a growing America and a dynamic emigrant population. NYPB&T and its operating bank, Emigrant, are now the largest privately-held, family-owned bank in America, offering fully-integrated banking, custom lending, insurance services and trust administration services to meet the needs of wealthy individuals, families, endowments, foundations and corporations, directly and through its various subsidiaries, including Emigrant Capital, New York Private Trust, Emigrant Fine Art Finance, Personal Risk Management, and Galatioto Sports Partners. NYPB&T subsidiaries Emigrant Partners and Fiduciary Network makes non-voting minority investments in wealth, asset and alternative asset managers to help them achieve their goals. For more information, visit www.emigrantpartners.com.
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Weber Shandwick | NorthRock Partners
PRCG | Haggerty LLC
SOURCE NorthRock Partners