Sammons Financial Group Launched Wealth Holding Firm
The new entity, Criterion, will oversee three registered investment advisors with $27 billion in combined assets.
Updated on Oct. 13, 2026 in Financial Planning
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Sammons Financial Group has launched a new wealth advisory holding company named Criterion to unify its independent management business. The firm oversees three registered investment advisors: Beacon Capital Management, NorthRock Partners, and Wealthcare.
Why it matters
The company created Criterion to establish a clear brand identity and signal that its wealth management division operates as a standalone business. This move distinguishes the division from Sammons Financial Group's traditional insurance product distribution channels.
Criterion oversees combined assets under management or advisement totaling $27 billion. NorthRock Partners, one of the three underlying firms, previously held over $12 billion in assets as of April 2026.
The players
Criterion
This is the newly formed wealth advisory holding company established by Sammons Financial Group to centralize its wealth management operations.
Sammons Financial Group
Headquartered in West Des Moines, Iowa, this financial organization maintains significant interests in insurance and wealth management.
Michael Mock
He currently serves as the president of Criterion.
Rob TeKolste
He is set to become the CEO and Chairman of the Board at Sammons Financial Group starting January 1, 2027.
The details
Criterion will centralize finance, accounting, capital management, and deal functions across Beacon Capital Management, NorthRock Partners, and Wealthcare. The company also intends to consolidate cybersecurity, data privacy, and risk management systems across these entities over the next two years.
Timeline
Sammons Financial acquired Beacon Capital Management in 2021.
Sammons Financial acquired NorthRock Partners in 2023.
Sammons Financial acquired Wealthcare LLC in 2025.
NorthRock Partners held over $12 billion in AUM in April 2026.
Sammons Financial Group launched Criterion on October 13, 2026.
Market Dynamics
The emergence of Criterion follows the broader industry trend of independent wealth management firms consolidating into holding companies to gain operational scale. This strategy allows firms to better compete for market share against larger national financial institutions.
For clients of Beacon Capital Management, NorthRock Partners, and Wealthcare, the launch of Criterion primarily signals upcoming shifts in administrative and security infrastructure. While the firms operate under a new brand, their internal management functions will gradually consolidate to streamline services.
The takeaway
The creation of Criterion reflects an effort by Sammons Financial Group to provide a clearer brand identity for its wealth advisory arm. Clients can expect increased integration of compliance and risk management systems as the newly formed holding company matures.
What happens next
Rob TeKolste will assume his new role as CEO and Chairman of the Board at Sammons Financial Group on January 1, 2027.
Further reading
Learn more about the evolving landscape of wealth management in the Financial Planning section.
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