West Des Moines – October 13, 2026 -- Criterion, the new name for Sammons Financial Group's wealth advisory holding company, launched with more than $27 billion in assets under management or advisement (AUM/AUA) across three national advisory firms.
The company groups Beacon Capital Management, NorthRock Partners and Wealthcare. Sammons Financial Group established the holding company as its expansion beyond core insurance and annuity business lines.
Criterion plans acquisitions and technology spending to compete in U.S. wealth management
Criterion describes the launch as the next step in a long-term plan built on strategic acquisitions, technology investments and expanded capabilities for financial advisors and their clients. It will also invest in talent across its advisory firms.
The company says its $27 billion-plus in AUM/AUA gives it the scale to compete aggressively in the U.S. wealth management and advisory marketplace. As parent of the three brands, it points to access to capital and greater flexibility to expand across the advisor industry.
Employee-owned structure draws on permanent capital to court independent advisors
Criterion president Michael Mock said the company is employee-owned and backed by permanent, long-term capital. He said advisors want partners that preserve their independence while supplying resources and stability for growth.
Mock said the businesses were assembled over the past five years to build a differentiated wealth management platform. Criterion plans to deepen existing partnerships, create new ones and invest heavily in the capabilities advisors need.
Independent and hybrid RIA models drive demand for advisor support
The U.S. wealth management industry continues to shift toward independent and hybrid registered investment advisory (RIA) models, according to the company. Criterion aims to meet that demand with flexible, sophisticated capabilities and long-term support.
Each of the three founding firms will keep its functional independence and brand. Criterion's strategy centers on identifying opportunities to strengthen the organization while creating value for advisors and clients.