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Financial Advisory  + Alternative Assets  + RIAs & Financial Advisors  + Wealth Management  |  December 5, 2022
Ballast Rock Group Joins the RIA Business, Forms Ballast Rock Private Wealth
By: Joe Palmisano

Ballast Rock Group Joins the RIA Business, Forms Ballast Rock Private Wealth

Ballast Rock Group, an investment management firm specializing in alternative assets, has formed Ballast Rock Private Wealth, a Charleston, South Carolina-based Registered Investment Advisor designed to provide financial services focused on alternative investments for wealthy investors.

The private wealth RIA will operate independently from Ballast Rock Asset Management, which over the past four years has raised $220 million in private real estate, venture capital and energy transition investments.

“We formed Ballast Rock Private Wealth because we felt individuals and families would benefit from financial advisors who better understood how alternative investments fit into client portfolios,” said Thomas Carroll, Founder and Chief Executive Officer of Ballast Rock Group.

Andrew Mescon will be the CEO of Ballast Rock Private Wealth, while Christian Salomone will serve as the firm’s Chief Investment Officer.

Mescon was previously with Integrity Financial Corp., where he was Vice President of Wealth Management. Salomone was Managing Director at Bank of America and Goldman Sachs.

Jason Thonssen will be Chief Compliance Officer and Director of Client Service, after previously working at Coldstream Wealth Management and Integrity Financial.

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Inside The Story

Ballast Rock Private Wealth

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.