Elevation Point Buys Stake in UBS Breakaway Managing $1.9 Billion in Louisiana

Elevation Point, a firm launched one year ago by former Sanctuary Wealth CEO Jim Dickson to buy minority interests in RIAs, has acquired a stake in a practice that broke away from UBS Wealth Management USA in Lafayette, Louisiana.

Founded by Benjamin T. Domingue, Travis D. Frayard and Shawna S. Prejean, the 12-person team was managing nearly $1.9 billion and advising on another $637 million at UBS, according to the announcement. They registered with Elevation Point on Wednesday and are maintaining their brokerage licenses through independent broker-dealer Purshe Kaplan Sterling Investments, according to licensing records.

Domingue started at Edward Jones in 1999 and moved to UBS in 2004, according to BrokerCheck. Frayard and Prejean had spent their entire 15- and 19-year careers with UBS. They are calling their new practice Family Office Partners.