Elevation Point, an investment firm launched last year by former Sanctuary Wealth CEO Jim Dickson, has taken a minority stake in Stonebrook Private, a Northville, Mich.-based firm with more than $750 million in assets under management. This is Elevation Point's first strategic investment since its launch in June.
Stonebrook Private, a fee-only RIA, was founded in 2023 by the father/son duo of Todd and Spencer Knickerbocker. The 10-person team focuses on comprehensive wealth, tax and estate planning services.
“Their focus on tailored, forward-thinking strategies aligns with our vision, and their next-generation leadership and multi-generational team position the firm well to serve clients for decades to come,” Dickson said in a statement. “This agreement also sets the stage for 2025, as this is just the beginning of the momentum, transformational partnerships and growth to come at Elevation Point this year.”
“This partnership with Elevation Point marks an exciting new chapter for our firm,” Todd Knickerbocker said in a statement. “Their minority shareholding model enables us to maintain control of our operations while leveraging their resources to accelerate growth while enhancing our customer service capabilities.”
Dixon announced launch of Elevation Point in June. The firm will take minority stakes in RIAs with $200 million to $3 billion in client assets and contribute resources to help these firms grow. He partnered with Mark Penske, founder and chairman of United Atlantic Capital, a privately held financial services company, on the new venture.
In conjunction with the launch, the firm acquired Mount Yale Capital Group, an RIA and subcontracted chief investment officer with $3.4 billion in assets under management, to provide middle and back-end business functions to support advisors.