Elevation Point, a company launched last year by ex-Sanctuary Wealth CEO Jim Dickson, has acquired a minority stake in Northville, Michigan-based fiduciary advisory firm Stonebrook Private.
Financial details about the transaction remain undisclosed.
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Stonebrook Private has over $750m in assets under management (AUM).
Led by Todd D Knickerbocker and Spencer Knickerbocker, the fee-only RIA is engaged in providing wealth, tax, and estate planning services.
Elevation Point founding partner and CEO Jim Dickson said: “Stonebrook Private, with its strong Midwest roots, shares our client-first ethos and commitment to delivering an industry leading experience.
“Their focus on tailored, forward-thinking strategies aligns with our vision, and their next-gen leadership and multi-generational team position the firm well to serve clients for decades to come.”
Todd Knickerbocker stated: “This partnership with Elevation Point marks an exciting new chapter for our firm. Their minority stake model enables us to maintain control of our operations while leveraging their resources to accelerate growth while enhancing our client service capabilities.”
Launched in June 2024, Elevation Point is an RIA investment firm, which also aims to offer support to aid the growth of those firms.
Upon its launch, the company mentioned that its partnership model includes a minimum 20% investment for independent businesses.
Alongside the launch, Elevation Point announced the acquisition of Mount Yale Capital Group, an outsourced chief investment officer (OCIO) with $3.4bn in AUM. The addition enables Elevation Point to offer back- and middle-office support services to advisors.
