LinePoint Partners & Co., a family office launched in March as an affiliation for ultra-high-net-worth advisors and single-family office executives, has added to its executive team.
The firm has hired Lauren Colonna, a former CMO at Sanctuary Wealth, as chief marketing officer and member of the executive committee, with responsibility for marketing communications, brand development, digital engagement and public relations. She’ll continue to run Ovis Creative, a marketing and communications firm and strategic partner of LinePoint.
“LinePoint has introduced a new level of access and sophistication previously unavailable to breakaway advisors serving multigenerational wealth,” she said in a statement. “Their family office resources, strategic partnerships and institutional capabilities enable these advisors to successfully transition to an independent model and compete in the UHNW segment alongside top private banks and major institutions.”
In addition, Cooper Rey has been appointed chairman and member of the executive committee. He currently serves as managing director and head of strategy for Monroe Capital’s wealth management group. Prior to that, he spent 17 years at Goldman Sachs, where he led the formation of the firm’s RIA custody and capital markets solutions for RIAs and family office clients.
Anton Marinchik, director of business development at Monroe’s wealth management group, also joins the executive committee. He was previously a vice president and head of RIA capital markets at Goldman. He also represented Goldman Sachs Custody Solutions.
LinePoint was launched in March by Robertino Coury, founder of ÉO Management, the single-family office that manages the Coury family’s assets, and Andrew Sternlight, the former chief of staff to Bridgewater’s Ray Dalio. It started with about $400 million to $500 million in assets, with the Coury family office as the cornerstone client. But Coury stressed they’re not in the business of going after high-net-worth clients and competing with the advisors that come onto the platform.
Rather, any referrals will be passed on to the advisors. The idea of LinePoint is to provide a platform for breakaway advisors and a family office infrastructure for SFO executives.
Advisors who want to join LinePoint come under the firm’s Form ADV but affiliate as 1099 independent contractors. They maintain full ownership of their client relationships and branding. LinePoint provides a transition package that’s a combination of upfront capital and equity in the company.
LinePoint charges a platform fee of 40% of the investment advisory fee. But the advisor has the discretion to decide whether to eat that fee or pass it on to their clients. Their payout will end up being between 60% and 100%, depending on how they choose to pass along the platform fee.
The platform fee covers everything LinePoint provides, including advanced planning, the family office infrastructure, the administration, technology and custodial relationships.
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