Letter from the BRPW CEO
CHARLESTON, S.C., December 28, 2024
Dear BRPW Friends and Family,
December provides an opportunity for reflection and gratitude. It’s hard to believe it has already been two years since we welcomed our first clients at Ballast Rock Private Wealth (“BRPW”). During that time, we’ve seen tremendous growth, and I wanted to thank every one of our clients for their trust, loyalty, and support. We have grown because our clients have been our biggest champions, sharing our story and vision with their families, friends and colleagues; in 2024, our assets under management experienced organic growth of 32.2%, thanks largely to client referrals. While we analyze a broad range of data points when assessing our performance, we continue to be most proud of this metric and are deeply honored by your faith and confidence in our team.
In response to our early success, over the past year, we have been fortunate to add three new team members to the BRPW family; Brooke Courtney, who joined in February and immediately demonstrated her experience and aptitude by upgrading our internal processes and capabilities pertaining to client outreach and rapid response which allowed us to improve the overall level of service we provide to our clients. Additionally, we were thrilled to welcome Joe Miller and Jamie Carroll to our advisory team in August and October, respectively. In addition to their enthusiasm and commitment to our core values, Joe and Jamie bring their own unique experience to BRPW. Before becoming a financial advisor, Joe was a high yield and distressed trader at Morgan Stanley and Stifel and Jaime’s first career was as a CPA before she moved to work for a large national wealth advisory firm. These important hires have enabled us to expand our capacity to serve our ever-growing clientele, further enhancing our ability to provide all our clients with the personal attention and custom guidance they require and deserve.
This was also a significant year of advancement for both our investment and service offerings. In 2024, as the industry at large continued gravitating towards private market investment opportunities, our core competency in these asset classes enabled us to provide clients with new and unique investment opportunities typically unavailable to boutique RIAs. Similarly, our reputation as thought leaders in this space also continued to flourish and thanks to the talent and expertise of our Investment Committee, led by Chief Investment Officer Christian Salomone, we believe we are well-positioned to retain this competitive advantage.
Anticipating that taxes will remain a primary concern for many of our clients, BRPW has invested heavily in new technology and strategic partnerships to curate custom investment strategies and advisory services aimed at mitigating the drag these expenses place on investment returns. Furthermore, we have substantially expanded our estate planning network this year to accommodate clients with increasingly sophisticated needs. In addition, we have incorporated a stable of resources to further support business owners, whom we are now capable of providing with a holistic solution that can shepherd them up to and through the exit-planning stage of the business cycle.
Looking to 2025, and beyond, the team and I remain relentlessly focused on providing custom holistic financial solutions characterized by exclusively curated investment opportunities, cutting-edge financial planning and complementary tax efficient strategies. We are grateful for the opportunity to serve you and your families and look forward to the prospects of working together for many years to come. We wish you all the happiest of holidays and good fortune in the New Year.
Regards,
Andrew J. Mescon
CEO Ballast Rock Private Wealth
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About Ballast Rock Private Wealth:
Ballast Rock Private Wealth is an independent Registered Investment Advisor that provides holistic financial advice to accredited high-net-worth individuals. The firm, formed in 2022 by investment management firm Ballast Rock, focuses on offering objective, unbiased guidance with an enhanced focus on alternative investments.
About Ballast Rock
Ballast Rock is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a registered investment advisor, with a focus on alternative strategies. Ballast Rock Capital (member FINRA/SIPC) is an SEC-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community.