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 over $750 million in assets under management. This is Elevation Point’s first strategic investment since its inception 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-gen leadership and multi-generational team position the firm well to serve clients for decades to come,” Dickson said in a statement. “This deal also sets the stage for 2025, as this is just the start of the momentum, transformative 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 stake model enables us to maintain control of our operations while leveraging their resources to accelerate growth while enhancing our client service capabilities.”
Dickson announced the 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 those firms grow. He partnered with Mark Penske, founder and chairman of United Atlantic Capital, a privately-owned financial services holding company, on the new venture.
In conjunction with the launch, the firm acquired Mount Yale Capital Group, an RIA and outsourced chief investment officer with $3.4 billion in assets under management, to provide the middle- and back-office business functions to support advisors.
