Monday, January 30, 2023

Monetary Advisor IQ – Content material Web page

Must read


Funding administration agency Ballast Rock Group says it’s launching a registered funding advisor agency that may give attention to providing high-net-worth accredited traders entry to different investments.

The Charleston, South Carolina–based mostly agency has fashioned Ballast Rock Non-public Wealth, aiming to faucet the mother or father agency’s experience in non-public fairness, actual property and enterprise capital investments in providing recommendation to people, households, enterprise homeowners, entrepreneurs and household places of work, in accordance with a press launch asserting the transfer.

The mother or father agency says it’s additionally searching for regulatory approval to launch Ballast Rock Capital, a Monetary Business Regulatory Authority–regulated broker-dealer.

“We fashioned Ballast Rock Non-public Wealth as a result of we felt people and households would profit from monetary advisors who higher understood how different investments match into consumer portfolios,” Thomas Carroll, Ballast Rock Group’s founder and chief govt officer, stated within the launch. “Given how the broader markets have carried out, we all know there’s demand for recommendation that takes into consideration all appropriate and acceptable choices for a portfolio. Via this new providing, our RIA will probably be higher geared up to provide purchasers extra funding choices.”

Ballast Rock Group says it has employed Andrew Mescon because the RIA’s CEO. Mescon joins from Integrity Monetary, the place he served as vice chairman of wealth administration, in accordance with the discharge.

Christian Salomone, who beforehand served as a managing director at Financial institution of America and Goldman Sachs, turns into the RIA’s chief funding officer, Ballast Rock Group says.

Ballast Rock Group has additionally employed Jason Thonssen because the RIA’s chief compliance officer and director of consumer providers, in accordance with the agency. He beforehand labored at Coldstream Wealth Administration and Integrity Monetary, per the discharge.

Ballast Rock Group can also be restructuring its enterprise into three separate entities together with Ballast Rock Non-public Wealth; Ballast Rock Asset Administration, which in flip will embrace Ballast Rock Ventures, which includes the corporate’s non-public fairness and enterprise capital holdings; and Ballast Rock Actual Property, composed of the agency’s Sunbelt multifamily actual property funds, in accordance with the discharge.

“With the formation of our wealth administration group and the restructuring of our enterprise, Ballast Rock Group is in a great place to make sure that purchasers have their monetary wants met reliably, creatively, and discreetly in order that they could take command of their very own monetary future,” Carroll stated within the launch. “The parallel methods of our options and our steering enable us to ship on our mission to offer risk-adjusted returns, correct and well timed recommendation, high-quality frequent reporting, and direct entry to administration.”



Supply hyperlink

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article