Merchant Takes Minority Stake in Elevation Point, Expands Credit Facility

Elevation Point, which takes minority stakes in independent advisors and breakaway teams, has received a noncontrolling investment and an expanded credit facility from Merchant. Financial terms were not disclosed.

Emigrant Partners exited its stake in Elevation Point as part of the deal. Emigrant had bought a minority stake in May 2025 and provided a senior debt facility at the time.

Former Sanctuary Wealth CEO Jim Dickson launched Elevation Point in 2024. The Minneapolis-based firm has since made minority investments in 15 advisory firms representing $18 billion in client assets. Recent partners include Hampton Bluff Capital Partners, an Atlanta team that managed about $1.3 billion before leaving UBS, and Las Vegas-based Truing Capital Advisors, with about $750 million.

“This is a proud moment and an important step for Elevation Point as we build on the foundation we’ve established and support more advisors choosing independence,” said Dickson, founding partner and CEO.

Merchant provides capital and strategic resources to independent wealth management firms. Its network includes more than 140 partner firms and practices in five countries, overseeing about $500 billion in assets. Its investments have included stakes in Meridian Wealth Management and Concurrent Investment Advisors.

“We share that commitment to advisor ownership and independence,” said Marc Spilker, Merchant’s executive chairman and a former president of Apollo Global Management.

Vedder served as legal counsel to Elevation Point. Katz Teller served as legal counsel to Merchant Investment Management. Morgan, Lewis & Bockius LLP served as legal counsel to Emigrant Partners.

Pictured: Jim Dickson