Elevation Point Backs Truing Capital Advisors in Las Vegas
Elevation Point, a minority investor in independent and breakaway advisors launched in 2024 by former Sanctuary Wealth CEO Jim Dickson, has taken a minority stake in Truing Capital Advisors, a Las Vegas-based team with about $750 million in assets under supervision.
The team, led by founding partners Russell Price and Salvatore (Sam) Mineo, previously operated as MPI Wealth Management at UBS. The firm will use Goldman Sachs Custody Solutions for custody.
Truing serves company founders and entrepreneurs, families with significant real estate and other concentrated assets, and individuals navigating major transitions, including the sale of a business, divorce or loss of a spouse.
“Our new structure gives us greater control over how we serve clients and the flexibility to build solutions around their needs, supported by the resources and capabilities of leading financial institutions,” Price said in a statement.
Truing represents the latest partnership with Elevation Point, following news in February that it made a minority investment in Hampton Bluff Capital Partners, an Atlanta-based team that managed about $1.3 billion in assets before breaking away from UBS.
Last May, Elevation Point sold a minority stake to Emigrant Partners. While Emigrant Partners and Elevation Point have similar business models, the investment gave Emigrant exposure to the breakaway advisor market. But to continue pursuing the goal of hitting $50 billion in the next two years, Dickson said the firm will seek an additional capital infusion.
Since its inception in mid-2024, Elevation Point has closed deals with independent RIAs that collectively manage $14.4 billion in client assets.
