Jim Dickson is a seasoned executive, entrepreneur, private investor and innovator in wealth management, spanning decades of experience in the financial services industry. Renowned for his advocacy for independent financial advisors, Dickson is a visionary leader with experience in designing and implementing growth strategies for advisory firms. He co-founded Elevation Point with Mark Penske in 2024 to serve as a value-aligned growth partner to independence-focused advisors and RIAs.
Russ Alan Prince: What inspired you and Mark Penske to launch Elevation Point?
Jim Dickson: At Elevation Point, we are dedicated to elevating our partner firms and leading the industry to higher ground. We were founded with a mission to place the client and the client/advisor relationship back at the center of the advisory universe.
Over the past decade, the wealth management industry has undergone rapid evolution, with private equity capital accelerating this disruption. The new environment often leaves growth-seeking advisors entangled in partnership agreements with hidden fine print. Elevation Point was founded to address this issue. We offer independence-seeking advisors and RIAs the opportunity to partner with a value-aligned capital partner.
Our firm is grounded in the principles of advisor empowerment, growth and elevation. Unlike aggregators, we act as accelerators, seeking partners with a growth mindset and serving as catalysts for their expansion. With an aggregator, advisors sell everything, but with an accelerator, they remain in the driver’s seat while gaining a value-aligned partner dedicated to supporting their growth.
We provide resources and capital to independent advisors looking to break free from stagnation, as well as wirehouse advisors pursuing independence. We are proud to be elevating a community of new industry leaders.
Prince: Can you provide more details on the acquisition of Mount Yale Capital Group and how this will enhance Elevation Point’s offerings?
Dickson: Instead of starting our firm from scratch, we acquired Mount Yale Capital Group, a 20-year leader in the outsourced chief investment officer, OCIO, market with $3.5 billion in assets under management at the time of acquisition. Mount Yale’s commitment to independence and high standards aligned perfectly with our vision.
This enabled us to offer partner firms immediate access to a robust investment and trading platform from day one. Our offering includes dynamic and customizable OCIO solutions, as well as comprehensive back and middle-office support services for managing the complex needs of high-net-worth clients nationwide.
Prince: What specific services and support will Elevation Point offer to RIAs and independence-seeking advisors that set it apart in the industry?
Dickson: We're not a "platform." Our approach involves taking minority stakes in firms to help them grow. And we are not just another aggregator, we are an accelerator. As an accelerator, we're focused on partnering with the best partner firms in the world.
Whether an advisor is at a wirehouse considering independence or at an independent firm looking for new momentum, Elevation Point can provide the capital and resources to help them achieve their goals. We also provide inorganic growth support to firms with an appetite for M&A and are committed to helping clients seize opportunities through strategic acquisitions. With our arsenal of intellectual and financial capital, we aim to empower partners not just to expand but to dominate their respective markets. We are already experiencing significant demand from firms seeking our assistance with inorganic M&A growth strategies to address various succession needs.
When we work with advisors to build a path to their goals, we align from day one. At Elevation Point, our partners’ goals become our goals, and together we can achieve them.
Prince: How does the launch of Elevation Point address the current trends and challenges in the wealth management industry?
Dickson: The future of our industry revolves around meeting clients where they are. Given the differences in client preferences across generations, that “where” can vary greatly. That’s why we are building a client experience focused on technology but centered around a personal relationship with a great advisor. At the end of the day, that will always define exceptional wealth management.
After more than 30 years in this industry, one question remains at the forefront of the minds of the advisors I know: "How can I continue to grow?" More importantly, "How do I serve my clients?" That’s exactly what Elevation Point was founded to do. We're designed to elevate. We provide advisors with the capital, expertise, and tools to grow and effectively serve clients through the most forward-looking experiences.
Russ Alan Prince is a strategist for family offices and the ultra-wealthy. He has co-authored 70 books in the field, including Making Smart Decisions: How Ultra-Wealthy Families Get Superior Wealth Planning Results