Backed by Elevation Point’s Growth Partnership Model, Father-Son Teams & Raymond James Veterans Break Away to Establish New Independent Firm, Growing the Minority Partner’s Client Asset Network to $8.2B
MINNEAPOLIS, July 15, 2025/ Elevation Point, a growth accelerator and minority stake partner for independent advisors and breakaway firms, today announced it has made a strategic minority investment in Waycrest Wealth, a newly established wealth management firm based in Michigan. The team, overseeing approximately $1 billion in assets under supervision, is led by wealth management veterans Jay Hack, MBA, CFP®, and Lowell Weiss, J.D., CFP®.
“Welcoming Jay, Lowell, and their multigenerational family teams, including their fathers, is a meaningful milestone,” said Jim Dickson, CEO and founding partner of Elevation Point. “Their client-focused approach perfectly aligns with our mission to empower advisors to grow while maintaining their independence and core values. We look forward to supporting their continued success and innovation.”
Mr. Hack and Mr. Weiss together bring decades of experience as Raymond James veterans, where they collaborated before joining forces to launch Waycrest Wealth. The firm specializes in investment management, financial planning, estate and tax planning, and alternative investing strategies tailored for families with complex wealth needs. The seasoned team offers specialized knowledge in areas including intergenerational wealth transfer, business succession, and legacy planning.
“We are very proud of our deep roots in serving multigenerational clients with customized strategies,” said Jay Hack, MBA, CFP®, founder and managing partner of Waycrest Wealth. “At the heart of what we do is listening and planning; planning for our clients’ lives, and for their goals, which exist together, not separately.”
In addition to serving as co-founder, Mr. Weiss will also serve as operating partner of the new firm. Additional members of the team include Mr. Hack’s father, Paul Hack, a seasoned wealth management veteran who began his career at Roney & Company in 1969 which was subsequently acquired by Raymond James. Also joining the firm is Mr. Weiss’s father, Leonard (“Lenny”) Weiss, who began his financial career in 1977 with Shearson Hayden & Stone (later Shearson/Smith Barney). After roles at Prudential/Wachovia, EF Hutton and founding WSB Partners (an LPL Financial affiliate), he established Weiss Wealth Management Group of Raymond James in 2005.
“Lowell and I bring complementary strengths – his focus is on tactical investment strategy, while mine centers on broader financial planning,” Mr. Hack continued. “Transitioning to independence now opens up a whole new world for serving our clients, giving us the flexibility to leverage leading-edge technology and access a wider range of investment options, including alternatives that were previously out of reach.”
The seven-person team serves a range of clients, including physicians, business owners, attorneys, and philanthropic families, primarily across Michigan and Florida. Waycrest Wealth holds licenses in more than 40 states.
Elevation Point’s minority stake partnership model provides firms like Waycrest Wealth with capital, technology, and infrastructure to enable a seamless transition to independence and accelerate long-term growth, without compromising autonomy. This partnership announcement follows Elevation Point’s recent strategic investment in Family Office Partners, a $2.5 billion breakaway team. Over the past year, Elevation Point has invested in firms representing a combined $8.2 billion in client assets.
Schedule a growth consultation with Elevation Point at https://elevationpoint.com/consultation.
About Elevation Point
Elevation Point is a wealth management firm focused on bringing together industry-leading independent advisors through minority stake partnerships with RIAs and breakaway advisors transitioning to independence. Distinguishing ourselves as accelerators in a landscape of aggregators, our growth partnership model empowers advisors to retain control over their futures, with our support. With a core focus on advisor values and clients’ evolving needs, our mission is simple: to elevate the entire industry to higher ground.
For more information, please visit elevationpoint.com, and for the latest updates, follow Elevation Point on LinkedIn.
Client assets as of June 30, 2025, include estimated assets under management and/or assets under advisement.
Waycrest Wealth and Family Office Partners are both trade names of Elevation Point Wealth Partners, LLC, an SEC-registered investment adviser. Neither Waycrest Wealth nor Family Office Partners is a separately registered investment adviser. Investment advisory services are provided by Elevation Point Wealth Partners, LLC. SEC registration does not imply a certain level of skill or training. For additional information, please refer to Elevation Point’s Form ADV, available at https://elevationpoint.com/adv/.
This news release is for informational purposes only and is not intended to be, and should not be construed as, an offer, solicitation, or recommendation to purchase or sell any security or an endorsement of any particular investment strategy. The information provided is not intended to be investment, tax, or legal advice.
Investing involves risk, including the potential loss of principal. Past performance is not indicative of future results.
Professional designations are subject to ongoing educational and ethical requirements.
Media Contact
Sarah Tremallo
JConnelly
ElevationPoint@jconnelly.com
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