Former Morgan Stanley Smith Barney LLC brokers Michael and Patrick Hull have launched an advisory firm, bluepoint Investment Counsel LLC, based in Madison, Wis.
The firm has agreed to an affiliation with Dynasty Financial Partners LLC, a service platform for breakaway advisers, Dynasty said in a statement last week.
The Hull brothers had been part of MSSB's institutional consulting unit, Graystone Consulting.
At bluepoint, the Hulls will continue to serve ultrahigh-net-worth families, foundations and endowments.
Co-founder Michael Hull declined to comment on the firm's assets under management but noted a Barron's listing this year that put the brothers' AUM at nearly $4 billion.
Theirs is the 14th firm to sign on with Dynasty, which bills itself as offering a wirehouselike platform with the flexibility to serve independents.
Dynasty-affiliated advisers manage more than $14 billion.
Michael Hull said that bluepoint will be recruiting financial advisers.
“We've had some struggles in how Graystone fit within the broader Morgan Stanley organization. The large wirehouses have a focus on the mass affluent, which is just not our focus,” he said.
“The struggles to serve clients is not unique to our group.”
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