Elevation Point, a growth accelerator for independent advisors and breakaway firms, today announced it has made a strategic investment in Loxahatchee Capital, a Tequesta, FL-based multi-family office overseeing USD1.4 billion in assets. Elevation Point has taken a minority, non-voting equity stake to support Loxahatchee Capital’s long-term growth and its work with affluent families and institutional clients.
The seven-member Loxahatchee Capital team most recently operated as the 440 Group, an elite team within UBS. Led by Andrew J. Plum, CFP®, CIMA®, Managing Partner and Head of the Investment Committee and Thomas J. Cullen, Partner and Senior Portfolio Manager, the team managed investment portfolios, provided financing, and delivered planning and investment advice to high profile families and charitable institutions across 31 US states, with a strong concentration in the South Florida area. Collectively, Loxahatchee Capital brings more than three decades of experience from leadership roles at leading firms including Merrill Lynch, J.P. Morgan Private Bank, Morgan Stanley, and most recently UBS. Under its new structure, Loxahatchee Capital has selected BNY Pershing as its primary custodian and clearing partner.
For more than three decades, the members of the Loxahatchee Capital team have guided their clients through some of the most turbulent chapters in modern financial history with clarity, discretion, and conviction. From the collapse of Long Term Capital Management in 1998, to the dot com crash and aftermath of 9/11, to the Great Financial Crisis, and most recently the COVID-19 market shock, the team has stood alongside clients, helping them navigate market turmoil, and uncover opportunities presented during these economic inflection points.
“I’ve seen firsthand the regard Andrew, Tom, and their team command in the industry, and we’re proud to help them bring to life their vision of what a boutique, institutional-level family office can offer to more clients.” said Brad Smithy, Founding Partner and Head of Wealth Management at Elevation Point. “Our ongoing, customized support will give them the opportunity to manage more wealth in the South Florida region over the long term and seamlessly maintain their impressive multigenerational relationships. This is the type of ‘elevation’ we can enable for practices across the country.”
Loxahatchee Capital has taken over a 6,300 square foot stand-alone building in the heart of Jupiter-Tequesta, one of the most affluent markets in South Florida. The building, once occupied by First American Bank and Trust, will serve as Loxahatchee Capital’s headquarters and will be open to clients of the firm as a gathering place for family conferences, board meetings, and non-profit events, reflecting the firm’s vision of being a central hub for every aspect of their clients’ financial lives. The partners at Loxahatchee Capital will continue to seek partnerships with private investors and institutions with assets in excess of $10 million.
“We have great respect and affection for our former colleagues and remain grateful for their friendship and support over the past 15 years. At the same time, we have long aspired to offer our clients a broader and more diverse set of solutions than what can be delivered through a single-bank affiliation,” said Andrew J. Plum, CFP®, CIMA®, Managing Partner and Head of the Investment Committee at Loxahatchee Capital. “Going forward, with the help of Elevation Point, we are able to bring best-in-class solutions from any bank, custodian, or financial services firm in the industry to address the need presented in each unique client situation.”
“Many of the families we serve have been with us for four generations, a testament to our commitment to being the first call when a concern or family matter arises,” said Thomas J. Cullen, Partner and Senior Portfolio Manager at Loxahatchee Capital. “Our clients know that when they reach out, the voice on the other end understands every detail of their family and financial situation and exactly what needs to be done. Elevation Point allows us to maintain that same high caliber of service while giving us the flexibility to focus on clients, free from back-office and administrative distractions.”
In 15 months, Elevation Point has invested in firms representing approximately $9.6 Billion in client assets under supervision. The firm provides capital, resources, and strategic support to entrepreneurial advisor teams seeking to build and own their next chapter.
“The team at Loxahatchee Capital has decades of financial services experience and a history stewarding client legacies,” said Jim Dickson, founding partner and CEO of Elevation Point. “Partnering now allows them to evolve while keeping client-first values at the core. Together, we’ll enhance support for high-net-worth families across market cycles and provide the tools to grow at scale.”
Source: PR Newswire
