Add Row 
Add 
Elevation Point Expands Vision with Eric Clarke’s Expertise
In a strategic move aimed at enhancing its technological infrastructure, Elevation Point has appointed Eric Clarke, the former CEO of Orion Advisor Solutions, to its board of directors. Clarke, known for his pivotal role in shaping wealthtech solutions, notably through the launch of Orion in 1999, brings a wealth of experience and an adept understanding of data strategy to the burgeoning investment firm.
Understanding the Firm's Ambitions
Founded by Jim Dickson, Elevation Point is not just another investment firm; it is pioneering a model that enables minority stakes in Registered Investment Advisors (RIAs) that manage between $200 million to $3 billion in assets. This approach has garnered significant interest as firms look for ways to scale and leverage technology in an increasingly competitive environment.
Since Elevation Point's inception, the firm has successfully secured a pipeline of five deals, approaching nearly $6 billion in total client assets. As Dickson states, "The thesis in minority investing is in high demand... technology is pivotal at the core of client delivery in the financial advisory space." Clarke’s arrival is poised to amplify this mission.
Clarke’s Vision for Future Growth in Wealth Management
Post-retirement from his role at Orion in 2023, Clarke transitioned to an advisory position and now lends his strategic thinking to Elevation Point. His experience within wealthtech will be critical as the firm looks to enhance its service delivery capabilities. With the integration of Orion's technology and Addepar's reporting tools, coupled with Salesforce via Pracifi for CRM operations, Elevation Point is building an infrastructure that blends human expertise with advanced AI functionalities to streamline client interactions.
The Role of Technology in Elevation Point’s Strategy
In the fight for operational efficiency and superior client experiences, Elevation Point understands the necessity of adopting cutting-edge technology. Clarke pointed out that the advisors will remain central to client interactions, but an effective technology backbone is essential for scaling these services. The firm’s collaboration with Tifin aims to develop AI agents that will tackle repetitive tasks, ultimately freeing advisors to focus on personalized advice and wealth management strategies.
Mikan’s Contribution: Navigating M&A in Wealth Management
Joining Clarke on the board is Mike Mikan, another industry heavyweight whose expansive experience includes orchestrating over 139 acquisitions during his tenure at UnitedHealth. His knowledge in mergers and acquisitions will provide vital insights aimed at facilitating growth through strategic partnerships and acquisitions. This dimension of Elevation Point’s strategy highlights a clear intent to rapidly expand its footprint within the wealth management sector.
Industry Implications: What This Means For Advisors
As the financial advisory landscape evolves, the infusion of seasoned leadership at Elevation Point signals a deliberate tilt towards integrating innovative technology in traditional wealth management practices. With commitment from executives like Clarke and Mikan, the firm not only enhances its operational capabilities but also sets a benchmark for how technology can redefine client-advisor relationships. Under their guidance, Elevation Point might very well foster a new generation of advisory firms capable of seamlessly merging human insight with technological prowess.
Conclusion: A Call to Engage with the Future of Advisory Services
As Elevation Point continues to carve out its place in the wealth management domain, keeping an eye on its development is essential for those invested in the sector. The strategic planning and tech-centric philosophy being adopted not only serve its board but also reflect a broader trend in the industry toward ever-greater integration of technology and advisory services. Professionals in the finance sector should consider how these shifts might impact their own businesses, as the confluence of the old and new presents both challenges and opportunities for growth.
Add Row 
Add 
Write A Comment