Lessons from Merrill Lynch

With Jim Dickson — Founding Partner and CEO, Elevation Point

Overview

Louis Diamond speaks with the founder and CEO of Elevation Point about building a next-generation independent platform focused on ownership, minority capital, data strategy, and scalable, durable advisory firms.

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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

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https://youtu.be/D0-y8Q-DYvg

About this episode…

For decades, advisors operated under the assumption that there was a single path to success—a defined route dominated by the largest and most prominent firms. Over time, the landscape of options expanded, and the independent space matured. With it came a new set of challenges: how to turn the pursuit of freedom and control into something durable, scalable, and ultimately into a true enterprise.

Jim Dickson has been thinking through that challenge for most of his career.

After two decades at Merrill, Jim went on to found Sanctuary Wealth (a story we shared earlier in this series), where he played a central role in shaping what supportive independence could look like for growing advisory teams.

Today, his own journey has entered a new chapter with Elevation Point—a next-generation independent platform focused on helping advisors take business ownership to a new level, with alignment, scalability, and long-term value at the core.

In this episode, Jim and Louis Diamond talk about what led Jim to this new chapter, including:

• Elevation Point’s unique value proposition—and how it fills a gap in the landscape.
• The value of capital—and how Elevation Point adds value along the way.
• Increasing enterprise value—and what advisors can do to grow without sacrificing control.
• Ownership and alignment—and why “how much of the pie you actually own” becomes more important as firms grow.
• Growth and partnership—and what it really means to build a firm intentionally over time.
• AI, data, and technology—and how each can support better decision-making.

This is a story about yet another evolution in the landscape of options available to advisors—and why the future of independence is less about exits and more about elevation.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

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JIM DICKSON 
FOUNDING PARTNER AND CEO 

Jim Dickson is a seasoned executive, entrepreneur, private investor, and innovator in wealth management with over four decades of experience in the financial services industry. Renowned for his advocacy for independent financial advisors, Jim is a visionary leader with experience in designing and implementing high-growth strategies for advisory firms. 

Jim’s deep understanding of the industry landscape positions him as a driving force behind transformative change, empowering advisors and firms to thrive in an ever-evolving marketplace. His growth mindset for RIAs and independence-seeking advisors prioritizes an “advisor-first” approach, tailored to an advisor’s values and long-term vision. 

Jim co-founded Elevation Point with Mark Penske in 2024 to serve as a value-aligned growth partner to independence-focused advisors and RIAs. Jim previously founded and built nationally recognized wealth management firm Sanctuary Wealth, which he launched in 2018. He was the visionary behind Sanctuary Wealth’s Partnered Independence^SM platform, providing elite advisors with all of the tools, services, and resources needed to fully and effectively serve their clients. Under Jim’s leadership, it grew rapidly into one of the industry’s top RIA firms, with more than $25 billion in assets and 76 partner firms in 28 states by 2023, when he left the firm. 

Prior to Sanctuary Wealth, Jim spent 20 years as a senior divisional executive building and leading strategy for Merrill Lynch in Indianapolis and Chicago. He began his career as an accountant at Ernst & Young in Indianapolis. 

Jim received his bachelor’s degree in accounting and finance from Butler University, where he later served on the Board of Trustees for six years. He has been a leadership conference judge for FFA, a national non-profit organization preparing middle and high school students for careers in agricultural science, business, and technology.