Ballast Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, estate planning, insurance, philanthropic planning, tax planning, and tax preparation. Financial planning was provided to 251–500 clients last fiscal year.
Ballast Advisors reports 831 clients. They include 645 individual clients, 169 high-net-worth individuals, and 15 corporations and other businesses. Of its assets, 96.8% ($653M across 2,525 accounts) are managed with discretion; $21.9M across 57 accounts are not. It advised 3 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 78% | 43% |
| High-net-worth individuals | 20% | 55% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | 2% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 645 | $287M | 42.5% | $445K |
| High-net-worth individuals | 169 | $369M | 54.8% | $2.19M |
| Pension and profit-sharing plans | Fewer than 5 | $2.27M | 0.3% | $2.27M |
| Charitable organizations | Fewer than 5 | $476K | 0.1% | $476K |
| Corporations and other businesses | 15 | $15.5M | 2.3% | $1.03M |
| Total | 831 | $674M | 100% | — |
- Clients
- 645
- Regulatory AUM
- $287M
- AUM share
- 42.5%
- Avg. per client
- $445K
- Clients
- 169
- Regulatory AUM
- $369M
- AUM share
- 54.8%
- Avg. per client
- $2.19M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.27M
- AUM share
- 0.3%
- Avg. per client
- $2.27M
- Clients
- Fewer than 5
- Regulatory AUM
- $476K
- AUM share
- 0.1%
- Avg. per client
- $476K
- Clients
- 15
- Regulatory AUM
- $15.5M
- AUM share
- 2.3%
- Avg. per client
- $1.03M
Total
- Clients
- 831
- Regulatory AUM
- $674M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 3
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Ballast Advisors charges 0.50%–2.00% a year for its Investment Management and Wealth Management. The fee is billed in advance. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting
- Stand-alone financial planning and consulting is a fixed fee, generally $750 to $25,000 by complexity, negotiable; half is due at signing.
- Retirement Plan Consulting
- Retirement plan consulting is a fixed project fee or asset-based fee; where Ballast manages plan assets the fee is 0.50% to 2.00% a year.
Parnell & Associates, Inc. owns 50% to 75% of Ballast Advisors and is in turn owned by Paul Parnell (75% or more). The leadership team of Ballast Advisors includes Chief Compliance Officer William Speacht. It has 15 employees, 6 of them in advisory roles.
Leadership
- William SpeachtChief Compliance Officer
- Paul ParnellPrincipal and Wealth Advisor
- Steven SchmidtPrincipal, Wealth Advisor
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
- Richard Gerard Gerczak
- James Stephen Heimler
- Noah Johnson
- Richard Matthias Juckel
- Paul Louis Parnell
- Steven Andrew Schmidt
Staff
- 15 employees
- 6 in advisory functions
- 6 state-registered reps
- 4 insurance agents
- Owns 50% to 75% of Ballast Advisors, LLC
Parnell & Associates, Inc.
Control person · since February 2017
- Owns 75% or more of Parnell & Associates, Inc.
Paul Parnell
Control person · since February 2017
- Owns 25% to 50% of Ballast Advisors, LLC
S Schmidt & Associates LLC
Control person · since January 2018
- Owns 75% or more of S Schmidt & Associates LLC
Steven Schmidt
Control person · since January 2018
Ballast Advisors’ regulatory assets grew from $450M (February 2021) to $674M (March 2026); clients were 831 in both filings and employees rose from 13 to 15.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $674M | 831 | 15 | 3 |
| March 2025 | $588M | 803 | 15 | 3 |
| February 2024 | $512M | 810 | 16 | 3 |
| June 2023 | $473M | 882 | 14 | 3 |
| March 2022 | $529M | 851 | 13 | 3 |
| February 2021 | $450M | 792 | 13 | 3 |
Besides its headquarters, Ballast Advisors has 2 offices, with 3 listed addresses in Florida and Minnesota.
Minnesota · 2 listed addresses
- 683 Bielenberg Drive, Suite 208, WoodburyHQ
- 2550 University Ave W, St. Paul
Florida · 1 listed address
- 223 Taylor Street, Punta Gorda
Other business names
Ballast Advisors has reported 1 other business name to the SEC.
- Ballast Insurance Services
Contact and registration details
- Legal name
- Ballast Advisors, LLC
- Headquarters
- 683 Bielenberg Drive, Suite 208, Woodbury, MN 55125
- Website
- ballastadvisors.com
- Phone
- 651-478-4644
- @ballast-advisors
- SEC file
- 801-108984
- Structure
- Delaware LLC
- Fiscal year end
- December
Ballast Advisors uses Charles Schwab ($674M) as custodian for its separately managed accounts. Ballast Advisors has custody of $268M in client assets for 441 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $674M100%
At year end, Ballast Advisors’ separately managed accounts were mostly in funds (64%) and stocks (24%). Its reported 13F holdings for the quarter ended 30 June 2026 total $420M across 197 positions; the largest are Schwab Strategic TR (9.8%), Schwab Strategic TR (8.8%) and Schwab Strategic TR (7.9%).
What the accounts hold
- Stocks24%
- Funds64%
- Bonds8%
- Investment grade corporate bonds5%
- U.S. government and agency bonds3%
- Cash4%
Reported 13F holdings
- $420M
- Reported 13F value
- 197
- Positions
- 58.0%
- In the 10 largest
- +22.1%
- Value vs. prior quarter
- Schwab Strategic TR · US Lcap VA ETF9.8%
- Schwab Strategic TR · US Lrg Cap ETF8.8%
- Schwab Strategic TR · Intl Eqty ETF7.9%
- Schwab Strategic TR · US Lcap GR ETF7.4%
- Apple Inc.5.5%
- iShares TR · Core US Aggbd ET5.1%
- Schwab Strategic TR · Sht TM US Tres5.0%
- JPMORGAN Chase & CO3.1%
- Taiwan Semiconductor Manufac · Sponsored ADS2.8%
- Enterprise Prods Partners L2.7%
Together, the ten largest are 58.0% of reported value.
How many clients does Ballast Advisors have?
Ballast Advisors has 831 clients and manages $674 million for them, as of March 2026. They include 645 individual clients, 169 high-net-worth individuals, and 15 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 March 2026
What services does Ballast Advisors offer?
Ballast Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, estate planning, insurance, philanthropic planning, tax planning, and tax preparation.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Ballast Advisors charge?
Ballast Advisors charges 0.50%–2.00% a year for its Investment Management and Wealth Management. The fee is billed in advance.
Which custodians does Ballast Advisors use?
Ballast Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $674M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 26 March 2026
How many financial advisors does Ballast Advisors have?
Ballast Advisors has 6 investment adviser representatives registered with state securities authorities, out of 15 employees, and 6 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 4 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Ballast Advisors invest in?
At the end of its last fiscal year, Ballast Advisors’ separately managed accounts held 64% registered funds (mutual funds, ETFs, BDCs), 24% exchange-traded equities, 5% investment grade corporate bonds, 4% cash and equivalents and 3% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Ballast Advisors?
Ballast Advisors is owned through holding companies by Steven Schmidt and Paul Parnell. Its direct owners are S Schmidt & Associates LLC (25% to 50%) and Parnell & Associates, Inc. (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 26 March 2026
How does Ballast Advisors get paid?
Ballast Advisors is paid through a percentage of assets under management, fixed fees and commissions. Its Form ADV lists no performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Ballast Advisors?
Ballast Advisors’ main office is at 683 Bielenberg Drive, Suite 208, Woodbury, MN 55125. Its phone number is 651-478-4644. Its website is ballastadvisors.com.