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Direct Investment  + M&As  |  February 27, 2025
Elevation Point Stakes $225M Minnesota RIA 
Joe Palmisano
By: Joe Palmisano

Elevation Point Takes Minority Stake in $225M Minnesota RIA 

Elevation Point has taken a minority stake in Triton Wealth, a $225 million Aitkin, MN-based registered investment advisor. The firm caters to a mix of business owners, professionals, and retirees, spanning high-net-worth to mass affluent clients. 

Founded in 2010 by Michael J. Ryan and Wesley T. Hoppe, the firm focuses on custom retirement planning, investment and risk management, and succession strategies. 

Jim Dickson, Elevation Point’s founding partner and CEO, highlighted Triton’s dedication to fiduciary, client-first principles—building those deep, generational bonds while guiding and educating clients—as a perfect match for Elevation Point’s own playbook.  

Elevation Point, a wealth management firm that takes minority stakes in RIAs and assists breakaway advisors transitioning to independence, launched in 2024 by Dickson, former Sanctuary Wealth CEO, Mark Penske, founder and chairman of United Atlantic Capital, oversees more than $3.4 billion in assets under management.  

The Triton Wealth deal follows Elevation Point’s third minority stake since inception and first deal of 2025—a strategic minority stake in Stonebrook Private, a fee-only, fiduciary advisory firm based in Northville, MI with over $750 million in assets under management. 

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Elevation PointTriton Wealth

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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