Ex-UBS FA Team with $1.4B Skips to Elevation Point 

Elevation Point has acquired a minority stake in Loxahatchee Capital, a newly launched multi-family office with approximately $1.4 billion in assets under management.   

Tequesta, FL-based Loxahatchee Capital, which was formerly affiliated with UBS Wealth Management, is led by managing partner and head of the investment committee Andrew Plum and partner and senior portfolio manager Thomas Cullen.  

The team, which includes seven other staff members, previously functioned as the 440 Group at UBS, Elevation Point said. 

Loxahatchee Capital offers portfolio management, financial planning, investment strategies, to high-net-worth families and charitable institutions in 31 states, primarily across South Florida. 

Following Loxahatchee Capital’s launch, the firm has chosen BNY Pershing as its primary custodian and clearing partner, the firm said. 

The investment marks Elevation Point’s ninth investment and its third transaction in the breakaway advisor space. The minority stake is worth about 20% to 30% in valuation, a company spokesperson told Connect Money.  

Additionally, this deal marks the firm’s third deal since selling a minority stake to Emigrant Partners, Emigrant Bank’s RIA capital and advisory services arm, in May.  

“The team at Loxahatchee Capital embodies the very qualities Elevation Point was built to support — deep expertise, multi-generational client relationships, and a true entrepreneurial drive,” Brad Smithy, founding partner and head of wealth management at Elevation Point, said. 

Recently, Elevation Point acquired a minority stake in Southfield, MI-based Waycrest Wealth, which was previously affiliated with Raymond James and oversees approximately $1 billion in assets under supervision.