Ballast Capital Advisors provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 1–10 clients last fiscal year.
Ballast Capital Advisors reports 42 high-net-worth individuals. Of its assets, 100.0% ($329M across 147 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 100% | 100% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 42 | $329M | 100.0% | $7.83M |
| Total | 42 | $329M | 100% | $7.83M |
- Clients
- 42
- Regulatory AUM
- $329M
- AUM share
- 100.0%
- Avg. per client
- $7.83M
Total
- Clients
- 42
- Regulatory AUM
- $329M
- AUM share
- 100%
- Avg. per client
- $7.83M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Ballast Capital Advisors is paid through a percentage of assets under management and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure.
Gregory Carstensen owns 75% or more of Ballast Capital Advisors. The leadership team of Ballast Capital Advisors includes Chief Financial Officer Steven Harms and Chief Compliance Officer Gregory Carstensen. It has 7 employees, 3 of them in advisory roles.
Leadership
- Steven HarmsChief Financial Officer
- Gregory CarstensenManaging Member and Chief Compliance Officer
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
- Chad Carstensen
- Gregory George Carstensen
- Patrick Joseph Freund
Staff
- 7 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 75% or more of Ballast Capital Advisors LLC
Gregory Carstensen
Control person · since March 2016
Ballast Capital Advisors’ regulatory assets grew from $220M (March 2021) to $329M (March 2026); clients were 42 in both filings and employees rose from 5 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $329M | 42 | 7 | 1 |
| March 2025 | $318M | 46 | 7 | 1 |
| January 2024 | $297M | 58 | 8 | 1 |
| March 2023 | $274M | 54 | 7 | 1 |
| May 2022 | $261M | 53 | 5 | 1 |
| March 2021 | $220M | 41 | 5 | 1 |
Besides its headquarters, Ballast Capital Advisors has 0 offices, with 1 listed address in Iowa.
Iowa · 1 listed address
- 1200 Office Plaza Drive, West Des MoinesHQ
Contact and registration details
- Legal name
- Ballast Capital Advisors LLC
- Headquarters
- 1200 Office Plaza Drive, West Des Moines, IA 50266
- Website
- ballast-advisors.com
- Phone
- 844-331-4662
- @ballast-capital-advisors-llc
- SEC file
- 801-120829
- Structure
- Iowa LLC
- Fiscal year end
- December
Ballast Capital Advisors uses RBC Capital Markets ($209M) as custodian for its separately managed accounts. Ballast Capital Advisors does not have custody of client assets.
- RBC Capital MarketsRBC Capital Markets, LLC · New York, NY · $209M100%
At year end, Ballast Capital Advisors’ separately managed accounts were mostly in bonds (60%) and cash (10%).
What the accounts hold
- Stocks5%
- Bonds60%
- Investment grade corporate bonds50%
- U.S. government and agency bonds10%
- Cash10%
- Other25%
- Hard assets such as commercial real estate25%
How many clients does Ballast Capital Advisors have?
Ballast Capital Advisors has 42 clients and manages $329 million for them, as of March 2026. They include 42 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 2 March 2026
What services does Ballast Capital Advisors offer?
Ballast Capital Advisors provides financial planning and portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Ballast Capital Advisors use?
Ballast Capital Advisors’ separately managed account assets are held at RBC Capital Markets, LLC (New York, NY), with $209M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 2 March 2026
How many financial advisors does Ballast Capital Advisors have?
Ballast Capital Advisors has 3 investment adviser representatives registered with state securities authorities, out of 7 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Capital Advisors invest in?
At the end of its last fiscal year, Ballast Capital Advisors’ separately managed accounts held 50% investment grade corporate bonds, 25% other, 10% U.S. government and agency bonds, 10% cash and equivalents and 5% exchange-traded equities. The 25% other category is described as: Hard Assets Such As Commercial Real Estate.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Ballast Capital Advisors?
Ballast Capital Advisors’ direct owner is Gregory Carstensen (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 2 March 2026
How does Ballast Capital Advisors get paid?
Ballast Capital Advisors is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or 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
Is Ballast Capital Advisors registered with the SEC?
Yes, Ballast Capital Advisors has been registered with the SEC as an investment adviser since 16 April 2021. Its CRD number is 282369 and its SEC file number is 801-120829.
Source: Form ADV Part 1A, Item 1, filed 2 March 2026; IAPD firm record
How do I contact Ballast Capital Advisors?
Ballast Capital Advisors’ main office is at 1200 Office Plaza Drive, West Des Moines, IA 50266. Its phone number is 844-331-4662. Its website is ballast-advisors.com.