Roughly a month after making a break for independence, TritonPoint Wealth is looking to help more advisors achieve autonomy with a new sister firm.
On Thursday, the $1.8 billion RIA based in Washington, DC announced the launch of TritonPoint Partners, a new firm designed to support independent advisory teams with a structured ownership model.
Led by Harold Hughes as CEO, the firm aims to help advisors maintain control over their businesses while optimizing cash flow and long-term equity growth.
“We founded TritonPoint Partners to provide advisors with the best possible structure for long-term success,” Andrew Schiff, CEO of TritonPoint Wealth, said in a statement Thursday. “The new firm creates an opportunity for advisors to take control of their future, ensuring they are positioned to capture the full value of their income and equity while enjoying state-of-the-art support.”
TritonPoint Partners offers a multi-custodial, open-architecture investment platform with operational support for advisors transitioning from custodians such as Raymond James, Schwab, and Fidelity. The firm leverages Dynasty Financial Partners' technology platform, transition services, and investment solutions, including customized succession planning and alternative investment strategies.
TritonPoint Wealth made its own transition onto the Dynasty platform in late January, departing from Goldman Sachs. The team of defectors included Schiff and his partners Greg Blake, Deatra Vailes, and Will Sterling, along with managing director Gregory Powers and vice presidents Jonathan Rosner and Peter Halbrook.
Compared to many others in the industry, Hughes emphasized how his firm focuses on long-term equity opportunities rather than short-term cash flow.
“Our model ensures every firm we partner with controls its revenue, benefits from strategic guidance, and participates fully in future growth,” he said.
Among other benefits, TritonPoint Partners said it eliminates traditionally opaque revenue pooling and partnership equity structures, replacing those with clear ownership terms – a potentially powerful lever when it comes to retaining key employees and building succession plans. The firm’s framework includes a transparent deal structure, a dedicated chief investment officer team for investment selection and portfolio construction, and a flat organizational structure that rewards early adopters with equity growth.
“Culture is defined by how a firm makes decisions, and we’ve built TritonPoint Partners to have an owner-advisor mindset,” Hughes said. “Our goal is to provide the highest level of support without the lowest common denominator types of restrictions so commonly experienced by advisors, so that advisors can focus on their clients and businesses.”
Focus is reportedly on a three year period from 2021-2024.
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