NorthRock Partners Launches NorthRock X To Support Athletes, Entertainers

A year after winning his fifth NBA championship, San Antonio Spurs star Tim Duncan was in the news again in 2015 after he sued former financial advisor Charles Banks. Duncan accused Banks of pushing or duping him into several investments without disclosing his own personal interests in them, and was claiming more than $20 million in losses.

Banks, who was charged and sued by the Securities and Exchange Commission a year later, pleaded guilty to the multimillion dollar fraud case in April 2017 and that June was sentenced to four years in federal prison.

Tony Parker, Duncan’s teammate in San Antonio from 2001-16, saw firsthand how his friend and teammate was being taken advantage of by a “trusted” advisor. Since retiring in 2019, Parker has been doing his best to help support athletes protect and build on their wealth as founding partner of the sports, artists and entertainment division at advisory firm NorthRock Partners.

Today, Parker and NorthRock are launching NorthRock X, a first-of-its-kind personal office and suite of financial and lifestyle services dedicated to supporting athletes and entertainers.

“I just wanted to give back,” Parker says. “It’s a part of me who saw a lot of stuff happening in the sports world and people taking advantage of athletes so I wanted to do my part. I’m very emotional when I talk about topics like that. We saw what happened with Timmy and the guy went to jail. So I just wanted to create something that can help athletes. I know me and our team we’re doing it for the right reason and not to take advantage of athletes.”

Backed by NorthRock Partners, which boasts nearly three decades of experience and currently with more than $4 billion in assets under its management, NorthRock X’s personal office suite of services include support and advice across investment advisory, financial literacy, marketing and branding, risk management, foundation and charitable giving, and estate planning.

The division boasts more than 140 athlete, executive and entertainer clients across the globe including Brent Burns (San Jose Sharks), Pat Connaughton (Milwaukee Bucks), Lindsay Whalen (University of Minnesota), Jonathan Allen (Washington Commanders) and Parker himself.

Veteran sports business executive Aaron Ryan joins NorthRock Partners as president of NorthRock X. Ryan recently served as president and commissioner at Overtime Elite, an alternative pathway to professional basketball offering elite high school-age players six-figure salaries and bonuses, equity in Overtime, an education including life skills like financial literacy and media training, and the ability to profit off their name, image and likeness (NIL).

“The role we play at NorthRock is to earn the right to be at the center of the athlete’s life and help them navigate either the unintended complexity of their life or the desired complexity of their life away from the court, ice or field,” Ryan says. “I’m really excited about this opportunity to help empower athletes and those around sports and entertainment. It’s really about us partnering with these individuals who excel in their craft while also finding ways to allow them to continue to do that.

“Tony is living proof that if you get ahead of this, it can result in a lot of great opportunities.”

During a 20-year professional playing career, Parker not only focused on finding success on the court where he was a four-time NBA champion, six-time NBA all-star and 2007 NBA Finals MVP, but also expanded his brand and empire off it, especially in his home nation of France.

Parker is the majority owner and president of professional French basketball club ASVEL, owns two basketball academies, bought a pair of ski resorts with former Charlotte Hornets teammate Nicolas Batum, owns a horse racing team, has many private equity investments and recently launched Smart Good Things, a wellness drink brand available in all pharmacies across France.

After dishing out 7,036 assists across 18 seasons in the NBA, now Parker is assisting and empowering the next generation of athletes as they strive for success off the court.

“I’m very proud when I see an athlete taking it very seriously about building his or her brand and as an entrepreneur,” Parker says. “That’s what I’ve been doing my whole life with everything I’m building in France. I always took to heart Magic Johnson’s advice to me: ‘Create your network while you’re still playing because when you retire, they don’t call you back.’ That’s what I did during my career.

“… We have the opportunity to make a lot of money so you want to take advantage of it, be smart with it and create wealth for generations and generations. Athletes, especially the last 5-10 years, they’ve taken it really seriously to build their brand, create something special and have an impact.”