Criterion Launches as New Wealth Management Organization
Criterion has emerged as a new player in the U.S. wealth management industry, formed by three national advisory firms: Beacon Capital Management, NorthRock Partners, and Wealthcare. Previously established under Sammons Financial Group, Criterion now operates independently with $27 billion in assets under management or advisement (AUM/AUA). The company aims to provide financial advisors and their clients with investment expertise, client-centered services, and a broad range of solutions. Criterion's strategy focuses on strategic acquisitions, technology investments, and enhanced capabilities for advisors. As an employee-owned organization backed by long-term capital, it seeks to preserve the independence of its advisory firms while offering them growth resources. The company is positioned to meet growing demand in independent and hybrid registered investment advisor (RIA) models. Michael Mock, Criterion's president, emphasized that the new name reflects a commitment to building a sustainable wealth management platform for long-term success.
Topics: Financial Services Mergers & Acquisitions Wealth Management
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