Ballast Rock Private Wealth provides financial planning, portfolio management for individuals and small businesses, and pension consulting. Financial planning was provided to 26–50 clients last fiscal year.
Ballast Rock Private Wealth reports 251 clients. They include 140 individual clients, 95 high-net-worth individuals, and 14 corporations and other businesses. Of its assets, 89.2% ($362M across 562 accounts) are managed with discretion; $43.8M across 80 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 56% | 20% |
| High-net-worth individuals | 38% | 75% |
| Pension and profit-sharing plans | <1% | 1% |
| Corporations and other businesses | 6% | 4% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 140 | $81.8M | 20.2% | $584K |
| High-net-worth individuals | 95 | $303M | 74.6% | $3.19M |
| Pension and profit-sharing plans | Fewer than 5 | $4.32M | 1.1% | $2.16M |
| Corporations and other businesses | 14 | $16.9M | 4.2% | $1.21M |
| Total | 251 | $406M | 100% | — |
- Clients
- 140
- Regulatory AUM
- $81.8M
- AUM share
- 20.2%
- Avg. per client
- $584K
- Clients
- 95
- Regulatory AUM
- $303M
- AUM share
- 74.6%
- Avg. per client
- $3.19M
- Clients
- Fewer than 5
- Regulatory AUM
- $4.32M
- AUM share
- 1.1%
- Avg. per client
- $2.16M
- Clients
- 14
- Regulatory AUM
- $16.9M
- AUM share
- 4.2%
- Avg. per client
- $1.21M
Total
- Clients
- 251
- Regulatory AUM
- $406M
- AUM share
- 100%
- Avg. per client
- —
- 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
- 26–50
Ballast Rock Private Wealth charges 0.50%–1.50% a year for its Portfolio Management Fees. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Pension Consulting Services
- Asset-based pension consulting fees from 1.50% down to 0.50% of account value by balance band, negotiable, withdrawn quarterly in advance.
Ballast Rock Holdings LLC owns 75% or more of Ballast Rock Private Wealth and is in turn owned by Thomas Carroll-Connell (75% or more). The leadership team of Ballast Rock Private Wealth includes Chief Investment Officer Simon O'Shea and Chief Compliance Officer Jason Thonssen. It has 9 employees, 8 of them in advisory roles.
Leadership
- Jason ThonssenChief Compliance Officer
- Andrew MesconCEO
- Simon O'SheaChief Investment Officer
- Christian SalomoneCIO
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
- James Bernard Carroll
- Jamie E Carroll
- Brooke Meredith Courtney
- Deann Nichole Cross
- Troy John Davidson
- Jake Hunter Fetchen
- Scott Alan McClatchey
- Andrew James Mescon
- Christian Dan Salomone
- Jason Michael Thonssen
Staff
- 9 employees
- 8 in advisory functions
- 8 state-registered reps
- 2 broker-dealer reps
- 2 insurance agents
- Owns 75% or more of Ballast Rock Private Wealth LLC
Ballast Rock Holdings LLC
Control person · since May 2022
- Owns 75% or more of Ballast Rock Holdings LLC
Thomas Carroll-Connell
Control person · since July 2018
- Owns 5% to 10% of Ballast Rock Private Wealth LLC
Jason Thonssen
Control person · since August 2022
- Owns 5% to 10% of Ballast Rock Private Wealth LLC
Andrew Mescon
Control person · since September 2022
- Owns 5% to 10% of Ballast Rock Private Wealth LLC
Christian Salomone
since December 2023
- Owns 5% to 10% of Ballast Rock Private Wealth LLC
Simon O'Shea
since September 2021
Ballast Rock Private Wealth’s regulatory assets grew Infinity× from $0 (June 2022) to $406M (March 2026); employees rose from 1 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $406M | 251 | 9 | 1 |
| March 2025 | $238M | 233 | 10 | 1 |
| March 2024 | $171M | 190 | 10 | 1 |
| June 2022 | $0 | 0 | 1 | 2 |
Besides its headquarters, Ballast Rock Private Wealth has 0 offices, with 1 listed address in South Carolina.
South Carolina · 1 listed address
- 460 King Street, Suite 200, CharlestonHQ
Contact and registration details
- Legal name
- Ballast Rock Private Wealth LLC
- Headquarters
- 460 King Street, Suite 200, Charleston, SC 29403
- Website
- ballastrockpw.com
- Phone
- 800-204-2513
- @ballast-rock-private-wealth
- SEC file
- 801-129645
- Founded
- 2022
- Structure
- Delaware LLC
- Fiscal year end
- December
Ballast Rock Private Wealth uses Fidelity ($189M, 53%) and Charles Schwab ($168M, 47%) as custodians for its separately managed accounts. Ballast Rock Private Wealth has custody of $101M in client assets for 89 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $189M53%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $168M47%
At year end, Ballast Rock Private Wealth’s separately managed accounts were largely in stocks (41%) and funds (36%). Its reported 13F holdings for the quarter ended 30 June 2026 total $217M across 192 positions; the largest are Pgim ETF TR (6.1%), Janus Detroit Str TR (4.7%) and Apple Inc. (4.3%).
What the accounts hold
- Stocks41%
- Funds36%
- Pooled vehicles27%
- Registered funds9%
- Bonds4%
- State and local bonds2%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
- Cash16%
- Other3%
- Public and privately non-traded reits3%
Reported 13F holdings
- $217M
- Reported 13F value
- 192
- Positions
- 29.0%
- In the 10 largest
- −47.9%
- Value vs. prior quarter
- Pgim ETF TR · Aaa Clo ETF6.1%
- Janus Detroit Str TR · Hendrson Aaa CL4.7%
- Apple Inc.4.3%
- Vanguard Calif Tax Free Fds · Tax Exempt BD FD2.3%
- Innovator ETFS Trust · Defined Wlt Shld2.0%
- J P Morgan Exchange Traded F · US Qualty Fctr2.0%
- Vanguard Index Fds · S&P 500 ETF Shs2.0%
- State Str SPDR S&P 500 ETF T · TR Unit1.9%
- Lam Research Corp.1.9%
- Schwab Strategic TR · US Lrg Cap ETF1.9%
Together, the ten largest are 29.0% of reported value.
How many clients does Ballast Rock Private Wealth have?
Ballast Rock Private Wealth has 251 clients and manages $406 million for them, as of March 2026. They include 140 individual clients, 95 high-net-worth individuals, and 14 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 6 March 2026
What services does Ballast Rock Private Wealth offer?
Ballast Rock Private Wealth provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Ballast Rock Private Wealth charge?
Ballast Rock Private Wealth charges 0.50%–1.50% a year for its Portfolio Management Fees. The fee is billed in advance and is negotiable.
Source: FORM ADV PART 2 - BALLAST ROCK PRIVATE WEALTH LLC, filed 6 March 2026
Which custodians does Ballast Rock Private Wealth use?
Ballast Rock Private Wealth’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $189M and Charles Schwab & Co., Inc. (Westlake, TX), with $168M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 6 March 2026
How many financial advisors does Ballast Rock Private Wealth have?
Ballast Rock Private Wealth has 8 investment adviser representatives registered with state securities authorities, out of 9 employees, and 8 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 2 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 Rock Private Wealth invest in?
At the end of its last fiscal year, Ballast Rock Private Wealth’s separately managed accounts held 41% exchange-traded equities, 27% pooled vehicles (private funds and similar), 16% cash and equivalents, 9% registered funds (mutual funds, ETFs, BDCs), 3% other, 2% state and local bonds, 1% U.S. government and agency bonds and 1% investment grade corporate bonds. The 3% other category is described as: Public and Privately Non-Traded Reits.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Ballast Rock Private Wealth?
Ballast Rock Private Wealth is owned through a holding company by Thomas Carroll-Connell. Its direct owners are Ballast Rock Holdings LLC (75% or more), Jason Thonssen (5% to 10%), Andrew Mescon (5% to 10%), Christian Salomone (5% to 10%) and Simon O'Shea (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 6 March 2026
How does Ballast Rock Private Wealth get paid?
Ballast Rock Private Wealth is paid through a percentage of assets under management 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
Is Ballast Rock Private Wealth registered with the SEC?
Yes, Ballast Rock Private Wealth has been registered with the SEC as an investment adviser since 8 March 2024. Its CRD number is 322064 and its SEC file number is 801-129645.
Source: Form ADV Part 1A, Item 1, filed 6 March 2026; IAPD firm record
How do I contact Ballast Rock Private Wealth?
Ballast Rock Private Wealth’s main office is at 460 King Street, Suite 200, Charleston, SC 29403. Its phone number is 800-204-2513. Its website is ballastrockpw.com.