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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
Joe Palmisano
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 of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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