RIA investor Elevation Point says it has acquired a minority stake in Family Office Partners, a new independent wealth management firm based in Lafayette, Louisiana.
The 12-person firm, which previously oversaw about $2.5 billion in client assets at UBS, includes advisors Benjamin T. Domingue, Travis D. Frayard and Shawna S. Prejean, who have over 60 years of combined industry experience.
"This team has built deep trust with some of the most sophisticated families in the country," said Jim Dickson, CEO and founding partner of Elevation Point. "Their decision to go independent speaks volumes about where the industry is headed, and our role is to ensure they have every advantage as they build a firm that reflects their values, their clients' needs and their long-term vision."
Family Office Partners specializes in investment management, as well as providing clients with advanced family office services. This includes work on private company transactions and exit planning, corporate solutions such as employee stock ownership plan strategies and liquidity planning, tax strategy, estate structuring, philanthropic planning and family governance.
"In launching Family Office Partners, we didn't simply move from one destination to another; we set out to build our own. One that's purpose-built for the evolving and diverse needs of our clients and families navigating the complexity of private company ownership," said Domingue, founder and managing partner of Family Office Partners.
"Elevation Point's investment and partnership give us the strategic and operational runway to create a platform that's fully aligned with how we believe families want to be served: holistically, independently and with the ability to resource solutions no matter where they might exist,” he added.
Elevation Point, which works with Goldman Sachs Custody Solutions and BNY Pershing, recently formed a partnership and obtained a minority investment from Emigrant Partners; it also added Eric Clarke, Orion Advisor Solutions' founder and retired CEO, to its board.
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