Elevation Point, the RIA investor, announced Thursday the launch of a strategic partnership with Milemarker, the financial technology company.
Through the partnership, Elevation Point is aiming to build a “comprehensive data infrastructure” to better connect and operationalize information across its growing portfolio of partner firms and its outsourced chief investment officer business.
Elevation Point CEO Jim Dickson told ThinkAdvisor that tapping Milemarker would give the firm the ability to create a unified view across its ecosystem of partner firms, its OCIO platform and “every custodian and technology provider in between.”
“We’re doing this without disrupting what makes each firm unique,” Dickson said. “This is the connective tissue that allows us to truly compound value for our partners rather than just aggregate businesses. … When you're building a network of high-quality independent firms, the last thing you want is to burden them with complex technology or force them onto a single rigid platform.”
Milemarker CEO Jud Mackrill said that firms like Elevation Point represent the future of wealth management.
“This is a growth-oriented organizations that understand the value of partnership over pure consolidation,” Mackrill said. "But that model only works if you can see across your entire investment universe in real time. We built Milemarker to solve exactly this problem.”
According to the duo, Milemarker's platform will enable Elevation Point to aggregate portfolio data, performance analytics and operational metrics across multiple custodians, reporting platforms and back-office systems. Likewise, they said, the integration supports Elevation Point's full technology stack, which includes Addepar, Orion, Vestmark, and multiple custodial relationships.
“The partnership addresses a fundamental challenge facing growth-oriented wealth management firms,” Dickson added. “As organizations expand through strategic investments and partnerships, their data environments become exponentially more complex.”
Without a “unifying layer,” he said, firms navigate mounting operational costs, compliance risks and an inability to leverage data for strategic decision-making.
“This makes it impossible to go from just acquiring income streams to creating genuine operational leverage that helps advisors serve clients better and grow faster,” Dickson said. "Milemarker is the infrastructure that makes that possible.”
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