Founded last year, Elevation Point – with investment backing of its own from Emigrant Partners – continues to take stakes in other wealth management firms. The process is part of a continuing M&A trend in the North American sector.

Elevation Point, which takes minority stakes in advisors and breakaway wealth management firms, has made a strategic investment in Family Office Partners. FOP is based in Lafayette, Louisiana.

The FOP team, which oversees about $2.5 billion in client assets under supervision, is led by advisors formerly affiliated with UBS. In January, Elevation Point made a similar investment in Stonebrook Private, based in Northville, Michigan.

Family Office Partners has a team of 12 people, specializing in working with founders, entrepreneurs, family offices and ultra-high net worth families. The founding team consists of Benjamin T Domingue; Travis D Frayard; and Shawna S Prejean.

“Their decision to go independent speaks volumes about where the industry is headed,” Jim Dickson (main picture), CEO and founding partner of Elevation Point, said. 

The development speaks to continued M&A and corporate activity in the North American wealth management sector as firms wrestle with demands for capital to drive growth, finance spending on modern technology, achieve scale to handle regulatory requirements, and tap into a multi-trillion dollar intergenerational wealth transfer now under way. PricewaterhouseCoopers issued a report on the topic late last week.)

As a result of the investment transaction, the FOP team can use Elevation Point’s systems such as custody options through the firm’s partnerships with Goldman Sachs Custody Solutions and BNY Pershing.

In early May, Emigrant Partners, a specialist capital and advice partner firm, invested into Elevation Point. As part of that arrangement, Emigrant established a senior debt facility to add extra fuel to Elevation Point’s expansion. Emigrant partners with 21 firms.

Elevation Point was founded in 2024.