#USA #Minneapolis #Elevation Point #Eric Clarke #Mike Mikan

Elevation Point's Board Welcomes New Industry Leaders

Elevation Point, a strategic growth partner and minority investor, has announced the addition of two prominent figures in the wealth management sector, Eric Clarke and Mike Mikan, to its board of directors. This move is expected to significantly bolster the organization’s commitment to supporting independent advisors and breakaway teams.

Introducing New Board Members

Eric Clarke is known for his role as the founding CEO of Orion Advisor Solutions, where he has made a name for himself as a disruptive force in wealthtech. On the other hand, Mike Mikan serves as the president and CEO of NeueHealth and has an impressive history as a former CFO of UnitedHealth Group. Both leaders bring a wealth of experience that aligns perfectly with Elevation Point's mission to empower independent financial advisors amid rapidly evolving market conditions.

Jim Dickson, the founding partner and CEO of Elevation Point, expressed his enthusiasm for this development: "This is an exciting milestone as we welcome Eric and Mike to our board. With their profound backgrounds in transforming businesses, they will be instrumental in providing strategic insights that will enhance our overall direction."

Commitment to Innovation

Clarke's extensive experience in wealthtech positions him to contribute significantly to Elevation Point’s goal of harnessing cutting-edge technology to empower advisors and their clients. He emphasized that independent advisors have never had such opportunities to scale their practices through the use of AI and other technological advancements. Elevation Point’s proactive approach ensures that such innovations are tailored to meet the unique needs of both advisors and their clients.

Mikan echoes this sentiment, asserting that in an environment where numerous Registered Investment Advisors (RIAs) and emerging companies are on the lookout for scalable solutions, Elevation Point provides invaluable support that helps maintain independence while also fostering growth. He looks forward to optimizing investment strategies and bringing innovative deal structures that can aid partners in navigating today's complex financial landscape.

A Vision for Future Growth

Mark Penske, the founding partner and chairman of the board, also shared his excitement over the new board members: "We’re pleased to welcome Eric and Mike to our board. These leaders resonate with our vision, as they both grasp the significance of our role as minority investors who are committed to empowering advisory segments without compromising their independence."

Elevation Point is making strides as a strategic growth partner designed specifically for independent Registered Investment Advisors (RIAs), offering minority-stake partnerships. The company distinguishes itself from conventional aggregators by prioritizing a collaborative approach that adheres to the values of advisors while focusing on achieving the best outcomes for clients.

Changes in Leadership

Alongside this new board appointment, Elevation Point also announced the retirement of John Sabre from his role as executive chairman. Though Sabre previously served as the CEO and managing partner of Mount Yale, which was acquired by Elevation Point last year, he remains an investor in the firm. As the company evolves, Greg Anderson, co-founder of Mount Yale, continues his role on the board as Chief Investment Officer, working closely with Dickson and Penske, along with the newly appointed Clarke and Mikan. Additionally, Liz Nesvold, Chair of Emigrant Partners, has joined the board as an observer.

Conclusion

With the addition of Clarke and Mikan, Elevation Point is poised to not only reinforce its existing commitments but also push the boundaries of what independent financial advisors can achieve. The invaluable knowledge and experience these leaders bring will no doubt contribute to the continuous evolution of the firm and its mission to empower independent financial practices.