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M&A

Sammons launches Criterion, holding company for three RIAs with $27B in AUM/A

Beacon, NorthRock Partners and Wealthcare keep their brands and own their ADVs; Michael Mock is named president of Criterion.

At a glance

15-second brief
  • Sammons Financial Group has launched Criterion, a holding company for its three registered investment advisors, with $27 billion in combined assets under management or advisement, according to WealthManagement.com.

  • Beacon Capital Management, NorthRock Partners and Wealthcare will keep their brands and continue to own their ADVs while operating under the Criterion umbrella.

Sammons Financial Group has launched Criterion, a holding company for its three registered investment advisors, with $27 billion in combined assets under management or advisement, according to WealthManagement.com.

Beacon Capital Management, NorthRock Partners and Wealthcare will keep their brands and continue to own their ADVs while operating under the Criterion umbrella. Sammons entered wealth management in 2021 with the acquisition of Beacon, an RIA and turnkey asset manager, added NorthRock Partners in 2023 and Wealthcare LLC in 2025. Michael Mock, who was serving as president of Sammons Wealth Management Group, has been appointed president of Criterion.

Criterion puts a holding structure over three businesses Sammons already owns, assembled through acquisitions completed between 2021 and 2025. WealthManagement.com describes the launch as the next phase of Sammons' expansion beyond insurance and annuities, and as part of a long-term plan to grow through acquisitions and invest in technology and capabilities for advisors. Keeping three brands and three ADV filings suggests the integration is meant to run through shared back-office functions rather than a single consolidated RIA registration.

Mock said the strategy has evolved since Sammons entered the wealth market five years ago, and that Wealthcare was "the last strategic piece needed to round out the Criterion platform." He said the firm expects to centralize some functions across the three entities, starting with finance, accounting, capital management and deal functions. Mock said other functions are expected to be centralized as well, though the coverage does not say which ones or on what timetable.

Sammons also wanted to make clear that its wealth management business is not a distribution play for its insurance products, Mock said, and that the firm is in the advisory channel "on its own merits." The Criterion name came from an outside marketing consulting firm, which the outlet says represents setting the standard for supporting advisors.

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WealthManagement.com
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