In a strategic move that strengthens both firms’ reach in the independent advisory space, Emigrant Partners has acquired a minority stake in Elevation Point, the investment platform founded by wealth management veteran Jim Dickson.
The partnership marks a notable alignment between two firms focused on taking minority, non-controlling positions in growth-oriented registered investment advisors (RIAs).
As part of the deal, Emigrant Partners, a subsidiary of Emigrant Bank that backs wealth and alternative asset management businesses, has also extended a senior debt facility to Elevation Point. While specific terms of the transaction were not disclosed, both firms emphasized that the capital infusion is intended to support Elevation Point’s expansion and accelerate its deal pipeline.
Founded just over a year ago, Elevation Point has quickly established itself as a capital partner to RIAs seeking growth funding while maintaining operational control. Jim Dickson, Elevation Point’s founder and CEO—and a former senior executive at Sanctuary Wealth and Merrill Lynch—said the firm has already completed five minority investments in its first year of operations and has a robust deal flow in progress.
“Our pipeline is oversubscribed, and demand continues to outpace our current capacity,” Dickson said. “There’s a growing cohort of advisors looking for support to grow their practices or partially monetize equity without giving up control. That’s the space we’re focused on, and bringing in additional capital was essential to meeting that demand.”
Emigrant Partners’ investment in Elevation Point represents a strategic alignment of philosophies and approach. While both firms focus on minority, non-controlling investments, their partnership aims to amplify the resources available to Elevation Point’s portfolio firms and provide broader strategic value.
“Jim and his team share our conviction that advisors should be empowered to pursue independence on their own terms,” said Jenny Souza, CEO of Emigrant Partners. “We’re both long-term investors, committed to sitting alongside founders—not above them—and offering more than just capital. Our model provides access to deep operational expertise, M&A advisory, and institutional-grade support that helps RIA firms scale.”
Souza noted that the partnership complements Emigrant’s existing footprint and further broadens its investment reach within the RIA channel. Emigrant Partners currently holds minority positions in 21 independent wealth management firms overseeing a combined $125 billion in assets. The firm is part of Emigrant Bank and the Milstein family’s Milstein Companies, a multi-generational holding company with investments across financial services, professional sports, and real estate.
Dickson echoed those sentiments, emphasizing the strategic fit and long-term orientation of the two firms. “There’s no shortage of capital in the RIA space, but there’s a real shortage of capital partners who understand what it means to be an advisor and who take a patient, aligned view of value creation,” he said. “Emigrant’s reputation and track record speak for themselves, and their involvement positions Elevation Point to scale more rapidly without compromising our partner-first model.”
Elevation Point targets growth-oriented advisory firms looking to retain equity control while accessing the capital, operational support, and strategic guidance needed to professionalize and scale. Its typical investments focus on practices that are expanding their footprint, recruiting talent, launching new service lines, or transitioning leadership. By aligning with founders as minority stakeholders, Elevation Point positions itself as a long-term, aligned growth partner.
In recent months, Elevation Point has executed several notable transactions. In April, the firm announced an investment in Fortage Capital Advisors, a Bloomfield Hills, Michigan-based startup RIA launched by veteran advisors. Earlier in January, it backed Stonebrook Private, a Northville, Michigan-based firm with over $750 million in assets under management. These deals reflect Elevation Point’s strategy of identifying high-potential practices in transition or early-stage scaling mode.
Dickson indicated that the firm has several additional transactions in due diligence and expects the pace of activity to accelerate in the second half of the year. “We’re seeing significant momentum from advisors who are seeking an alternative to the traditional aggregator model—advisors who value optionality, independence, and alignment over buyouts and roll-ups,” he said.
For Emigrant Partners, the Elevation Point stake reinforces its broader mission of supporting independent wealth managers across different lifecycle stages. The firm typically targets RIAs with at least $1 billion in assets and a track record of strong organic growth, and it offers customized capital solutions ranging from equity investments to strategic advisory support.
Its portfolio spans firms operating in various market segments, including family offices, high-net-worth boutiques, and hybrid firms with institutional clients.
Souza described the Elevation Point investment as part of Emigrant’s continued expansion into early-stage RIA investment, where firms may require both strategic capital and operational support to reach their next growth inflection point.
“What makes Jim’s platform particularly compelling is its founder-first DNA and disciplined execution,” Souza said. “We see Elevation Point as an important partner in identifying and nurturing the next generation of leading independent advisors.”
The RIA M&A landscape has evolved significantly in recent years, with capital partners increasingly differentiating themselves through value-added capabilities, strategic alignment, and flexibility in deal structures. Minority investments, once a niche play, have become a preferred option for many advisory firms seeking liquidity or scale without relinquishing control or compromising their client-first culture.
According to industry data, minority investment activity in the RIA channel continues to rise, fueled by aging founder demographics, succession planning challenges, and the operational complexity of managing growing firms. Elevation Point and Emigrant Partners are positioning themselves squarely at the center of that trend, offering founders a middle path between full-scale acquisition and organic bootstrapping.
Dickson said that while Elevation Point’s growth strategy remains focused, the firm’s expanded balance sheet now gives it the flexibility to invest across a wider range of firm sizes and stages.
“Whether it’s a $500 million practice looking to professionalize operations or a multi-billion-dollar firm exploring inorganic growth, we’re well-positioned to meet them where they are,” Dickson said. “What’s consistent is our philosophy—every partner deserves a bespoke solution, long-term alignment, and the ability to preserve their entrepreneurial DNA.”
For wealth advisors and RIAs evaluating growth paths, the Elevation Point-Emigrant partnership underscores the increasing importance of selecting capital partners who bring more than just funding to the table. As the advisory landscape becomes more competitive and complex, firms that align with experienced, flexible investors may be better positioned to scale, recruit, and execute on growth initiatives without sacrificing independence or culture.
Looking ahead, both Elevation Point and Emigrant Partners expressed optimism about the outlook for the independent advisory sector. While capital markets and valuations may fluctuate, they believe the structural growth of the RIA model, combined with client demand for fiduciary advice and transparent planning, continues to create fertile ground for innovation and investment.
“We believe this is just the beginning,” Souza said. “The independent wealth management space remains one of the most compelling investment opportunities in financial services—and our role is to help firms realize their full potential while remaining true to their core values.”
With deal activity expected to continue throughout 2025, Elevation Point and Emigrant are set to play increasingly prominent roles as catalysts for advisor-led growth in a consolidating industry.
