Cleros Wealth Partners Launches as Independent RIA

The Fort Worth-based team, formerly affiliated with UBS, is operating as an independently registered investment advisor backed by a strategic investment from Elevation Point.

Updated on Nov. 4, 2026 in Financial Planning

Brick and glass office building on a quiet downtown Fort Worth street in morning light, with a potted tree at the entrance. — Cleros Wealth Partners, formed by former UBS-affiliated advisers Kyle Kight, Alex Armstrong and Jamie Packer, launched as an independent registered investment advisor on November 4. AI Illustration. Upload story photo >

Cleros Wealth Partners launched as an independently registered investment advisor on November 4, 2026, after its team previously operated as Thompson, Kight, Armstrong & Packer in affiliation with UBS. The 11-member team, which oversaw approximately $3.61 billion in assets under supervision at UBS, provides wealth management and financial planning to high-net-worth families and several endowments and foundations.

Why it matters

The team said it chose independence to source potential investment opportunities, navigate increasingly sophisticated investment and wealth management needs, and steward wealth across generations. The move reflects a broader shift of advisory teams leaving wirehouse affiliations to operate independently.

The firm reports approximately $3.61 billion in assets under supervision from its prior UBS affiliation, with more than half of its clients working with the team for over 20 years. The announcement does not specify how much of that capital will move to the new independent platform.

The players

Elevation Point

Elevation Point is a firm that partners with independent wealth management practices through minority stake investments, providing capital and back-office infrastructure.

Goldman Sachs Custody Solutions

Goldman Sachs Custody Solutions is the custody division of Goldman Sachs that holds and safeguards client investment assets for registered advisors.

UBS

UBS is a Swiss multinational investment bank and wealth manager whose advisory teams have historically included independent-leaning affiliates like the Thompson, Kight, Armstrong & Packer group.

The details

Cleros Wealth Partners is led by Founding Partners Kyle Kight, CFA, Alex Armstrong, CFP, and Jamie Packer, CIMA, CPWA, and custodies client assets with Goldman Sachs Custody Solutions. Elevation Point provides capital, infrastructure, and back-office support through a minority stake partnership.

November 4, 2026: Cleros Wealth Partners launches as an independently registered investment advisor.

Market Dynamics

The launch follows a pattern of experienced advisory teams leaving wirehouse affiliations such as UBS to operate as independent RIAs backed by outside capital partners. Such moves let teams control their own platform, custody arrangements, and investment sourcing.

Clients of the former UBS-affiliated team may see their advisory relationship and custody arrangements shift to the new independent platform. Investors should confirm how their accounts and fees will be handled under Cleros Wealth Partners.

The takeaway

Independent advisory platforms give investment teams more control over sourcing and custody, but clients should review how any transition affects their accounts and fee structure. Asking an advisor directly about custody and continuity is a practical step when a team changes affiliation.