Morgan Stanley Smith Barney advisors Michael Hull and Patrick Hull and four other team members have left the firm to launch bluepoint Investment Counsel, a Madison, Wis.-based firm that will serve higher education institutions, nonprofits and the ultrahigh-net-worth market, Dynasty Financial Partners announced Monday.
The Hull brothers created bluepoint in late June after leaving MSSB, where they had been institutional consulting directors with Graystone Consulting, according to Dynasty, which develops and integrates wealth management services for independent advisors and is based in New York. The Barron’s magazine 2012 top advisor list for Wisconsin ranks Michael Hull’s Graystone office in Madison as the No. 4 advisor in the state, at $3.83 billion in total assets, with a typical account size of $95 million.
“Patrick and I are excited to be launching bluepoint,” Michael Hull said in a statement, referring to his brother, Patrick (left). “The ability to comprehensively address the needs of our clients without external conflict or pressure is in the best interest of both our institutional and ultra high net worth clients. We have built an exceptional business over the past 20 years. Creating bluepoint sets us above and beyond what we have been able to do in the past, and is the best plan for our clients now.”
Michael (right) has been recognized as one of America’s top 1,000 advisors by Barron’s every year since 2009. As consultants with a two-decade track record, the Hulls help clients with investment policy and selection, portfolio design and performance monitoring. Their experience includes providing fiduciary guidance to public pensions, universities, fraternal organizations, healthcare organizations, retirement plans, nonprofit entities and endowment funds.
“The Hull brothers have a strong track record working with the nation’s largest families, foundations and endowments. They are now well positioned to broaden their business by hiring additional advisors and expanding their footprint,” said Shirl Penney, president and CEO of Dynasty, in a statement.
Joining the Hulls in the bluepoint venture are Ariana Neuner and Kent Costello, both of whom were advisors with Graystone. Also making the move to bluepoint from Morgan Stanley are Lauren Kelly, who will be chief financial officer, Natasha Augustine, a senior investment analyst.
Dynasty’s services to bluepoint include technology, managed investments, institutional research, trust and insurance and credit facilities. Bluepoint is the 14th independent advisory firm to join Dynasty’s wealth management platform.
Read Morgan Stanley’s Larry King Joins Dynasty in Indie Partnership at AdvisorOne.