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

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.