Elevation Point

Elevation Point (Elevation Point Wealth Partners, LLC) is a Minneapolis-based firm that takes minority stakes in independent RIAs and breakaway wirehouse teams, launched in June 2024 by former Sanctuary Wealth CEO Jim Dickson, a 20-year Merrill Lynch executive before that, and Mark Penske of United Atlantic Capital. It began by acquiring Mount Yale Capital Group, a $3.4 billion outsourced CIO, whose SEC registration became Elevation Point's corporate RIA. WealthManagement.com reported in February 2026 that the firm had made 11 investments in teams overseeing nearly $13.2 billion in client assets.

Client assets of partner firms: nearly $13.2 billion as of February 2026, according to WealthManagement.com. Partner-firm investments: 11 as of February 2026, according to WealthManagement.com.

Elevation Point offers minority-stake partner firm (keeps its own brand) and breakaway team with a minority investor. Elevation Point buys a minority stake in an existing RIA that keeps running and branding its own firm, as with Triton Wealth, a $225 million Minnesota RIA, in February 2025. Wirehouse teams leaving to go independent can launch their own firm with an Elevation Point minority investment; the ex-Merrill Forta Wealth Partners team in Indianapolis operates as a trade name of Elevation Point's own SEC-registered RIA.

At its June 2024 launch, Elevation Point said it would start with a minimum 20% investment in the independent firms it backs, according to The Wealth Advisor. The firm targets RIAs with $200 million to $3 billion in client assets, and its family office backing means it has no set timeline to exit its stakes, WealthManagement.com reported in June 2024. Emigrant Partners' May 2025 minority investment in Elevation Point included growth capital and a significant credit line for making new investments; terms were not disclosed. CEO Jim Dickson told WealthManagement.com in 2026 that the firm is targeting $50 billion in assets within two years and plans to raise additional capital to get there. Terms vary by firm and change over time.

The most recent Elevation Point headline in the industry press is “Elevation Point backs $750M UBS breakaway Truing Capital in Las Vegas” (InvestmentNews, October 21). Financial ADVSR’s latest reporting on the firm is “Buyers now pay more in equity than cash, while Latigo Peak self-funds” (October 21).

3 stories from 3 outlets have mentioned Elevation Point since October 20, including 1 about advisor moves and 2 about deals.

In the last 90 days the Financial ADVSR moves tracker has recorded 1 move to Elevation Point, most recently UBS Wealth Management USA team ($750M) from UBS (October 20).

The moves tracker has recorded 2 deals involving Elevation Point in the last 90 days. The most recent: Elevation Point Stakes $750M Ex-UBS Team in Las Vegas (WealthManagement.com, October 20).

Recent coverage most often mentions Elevation Point alongside UBS.