Two New York-based firms have announced their entry into the family office space, with each offering a different approach to raise the bar for ultra-high-net-worth clients and advisors.
On Tuesday, Linepoint Partners & Co. unviled its affiliation model aimed at breakaway advisors and single family office executives, while Five Eleven Partners made its official debut as a full-service family office for a select number of families.
LinePoint Partners, led by CEO Robertino Coury and President and CIO Andrew Sternlight, launched its platform designed to support advisors transitioning from wirehouses and private banks, as well as executives managing single family offices. The firm’s leadership includes a team of seasoned executives who previously advised on more than $3 billion in client assets.
For financial advisors transitioning from a wirehouse or private bank, LinePoint said its model offers the ability to retain up to 100 percent of their advisory fees while maintaining ownership of their client relationships and brand identity. Single family office executives, meanwhile, can access a platform to let them enhance their services, improve tax efficiency, and reduce operational costs.
"Too often, breakaway financial advisors lack clarity, transparency, and control over their economic arrangements – but we're changing that," Coury said in a statement Tuesday. "LinePoint's affiliation model puts advisors firmly in control – not just over their fee structures, but also over their revenue payouts."
LinePoint’s structure is rooted in the legacy of Robert J. Coury, the father of the company’s founders – Robertino Coury, Santino Coury, Andreo Coury, and Juliano Coury.
Robertino Coury was previously president and CIO of an independent RIA and multifamily office advisory firm, the Coury Firm. Sternlight brings experience from his prior roles as CEO and co-CIO of a multibillion-dollar, fourth-generation single family office and as chief of staff to Ray Dalio, the famed founder and CIO of Bridgewater Associates.
The firm has also developed a co-sourcing model, integrating in-house expertise with strategic partnerships across investment advisory, private banking, trust services, and other areas.
"Families don't build family offices because they want to; they do it because traditional wealth management falls short of their needs," Coury said.
A November report from Morgan Stanley Wealth Management identified six pillars where family offices have to step up for clients, including the need for an institutional-quality team with in-house and outsourced roles and focusing on investment solutions.
Meanwhile, Five Eleven Partners said it aims to provide an integrated wealth management experience that includes investment advisory, tax and estate planning, and concierge-style family office administration.
Founded by Andrew Crofton and Scott Essex, the firm includes an investment team led by Chief Investment Officer Gil Calderon, with Essex overseeing private investments. Chief Wealth Strategist Keith Feinberg heads the firm’s wealth planning division.
"I decided to launch Five Eleven Partners when I observed the increasing trend toward firm growth driven by mergers and acquisitions," Crofton said separately on Tuesday. "Wealthy families deserve an intimate, single family office experience."
Several family offices have merged into larger RIA platforms over the past year, including AlTi's May 2024 acquisition of Envoi in Minneapolis, Cresset's deal to snap up the Connable Office a month later, and Homrich Berg's incorporation of WMS Partners in December. In January, Corient revealed plans to acquire Geller & Company in New York City, while Clearstead Advisors closed its acquisition of Waveland Family Office in Chicago.
Five Eleven Partners, headquartered in New York with offices in Chicago, West Palm Beach, and San Francisco, will offer a range of services including alternative investments, philanthropic oversight, and risk management.
"Our goal is to grow intentionally alongside the right families, ensuring that our focus remains squarely on our clients' growth, rather than on expanding the firm itself," Essex said.
With a fifth of RIA firms using AI to create marketing content, one leading voice argues a clear identity and focusing on clients will be crucial to success.
LPL Financial is a bellwether for the broader financial advice marketplace.
The San Francisco-based startup's Series A funding, with support from Schwab and Edward Jones Ventures, will reinforce its role in the coming $124 trillion wealth transfer.
The quartet of deals across New York, Florida, Ohio, and New Mexico reinforces the fast-growing integrator's leading position in the independent space.
UBS and Wells Fargo have made their own additions in the Northeast, including a Massachusetts duo defecting from Commonwealth.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
