News Summary
Elevation Point has entered a strategic partnership with Stonebrook Private, marking a significant step in the wealth management industry in Northville, Michigan. This collaboration, revealed in June 2024, is expected to enhance client services and accelerate growth for both firms. Elevation Point aims to redefine the advisory landscape for independent Registered Investment Advisors, while Stonebrook Private, with its strong reputation and client-first approach, focuses on providing wealth, tax, and estate planning services. Together, they represent a broader trend towards independent, fiduciary advice.
News Summary
Elevation Point has entered a strategic partnership with Stonebrook Private, marking a significant step in the wealth management industry in Northville, Michigan. This collaboration, revealed in June 2024, is expected to enhance client services and accelerate growth for both firms. Elevation Point aims to redefine the advisory landscape for independent Registered Investment Advisors, while Stonebrook Private, with its strong reputation and client-first approach, focuses on providing wealth, tax, and estate planning services. Together, they represent a broader trend towards independent, fiduciary advice.
Exciting Developments in Northville: Elevation Point Joins Forces with Stonebrook Private!
Big news is buzzing around Northville, Michigan, as Elevation Point makes headlines with its latest strategic investment in Stonebrook Private. This partnership, announced in June 2024, reflects a bold move in the financial advisory world, and both firms are thrilled about what the future holds.
A Fresh Start for Elevation Point
Founded not so long ago, Elevation Point is the brainchild of Jim Dickson, the former CEO of Sanctuary Wealth. With a robust leadership team boasting decades of combined experience, Elevation Point is geared up to redefine and enhance the advisory landscape. It’s all about fresh ideas and innovative strategies, aiming to support independent Registered Investment Advisors (RIAs) with assets under management ranging from $200 million to $3 billion.
Stonebrook Private: A Trusted Name in Wealth Management
On the other hand, we have Stonebrook Private, a well-respected firm based right here in Northville. With over $750 million in assets under management, they specialize in a comprehensive suite of wealth, tax, and estate planning services. Led by Todd D. Knickerbocker and his son Spencer, who brings a wealth of credentials into the mix, Stonebrook operates as a fee-only, fiduciary advisory firm. This means they prioritize client-first approaches—which is music to any investor’s ears. What stands out about the Stonebrook team is the emphasis on open communication. With a dedicated team of 10 professionals, they ensure that the voices of their clients are heard and incorporated into personalized investment strategies.
Strength in Partnership
With this new partnership, what will it mean for both Elevation Point and Stonebrook Private? For Elevation Point, this investment underlines a commitment to staying at the forefront of the financial services industry by aligning with a firm that experiences similar values and philosophies. Likewise, Stonebrook Private sees this collaboration as a way to accelerate growth and enhance client service while maintaining control over their operations. This partnership creates a win-win scenario where both firms can thrive while supporting their clients’ diverse financial needs.
Meeting the Growing Demand for Independent Advisors
Interestingly, the partnership represents a broader trend we’ve been seeing in the wealth management sector. It highlights a shift toward independent, fiduciary advice, showcasing the increasing importance of offering a holistic approach to managing wealth. Elevation Point has plans to expand its footprint even further after its recent acquisition of Mount Yale Capital Group, a firm with around $3.4 billion in assets under management. This acquisition brought in essential back-office services tailored specifically for advisors, enhancing their overall business model.
Looking Ahead: Building a Brighter Future
As both Elevation Point and Stonebrook Private embark on this journey together, the stage is set for a future filled with momentum and transformative partnerships. The financial details of this particular transaction remain under wraps, but one thing is for sure: both firms are energized by what’s on the horizon. With Elevation Point’s partnership model requiring at least a 20% investment, this is just the beginning of their exciting growth story.
Conclusion
So, keep your eyes peeled, Northville! The investment between Elevation Point and Stonebrook Private is just the tipping point for greater things to come in the wealth management industry. This strategic alliance is all set to deliver enhanced services and innovative strategies for independent advisors—providing them with the robust support they need in today’s fast-paced financial landscape. As always, it’s all about putting the clients first and ensuring their future is as bright as the very best of investment strategies. Stay tuned for more news on this phenomenal partnership!
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