+ What makes Ballast Point Financial Planning different than other financial planning firms?

There are three primary differentiators that separate Ballast Point from other planning firms: 1. In-Depth Tax Advice: We have a team of tax pros that provide forward looking tax advice to make sure you are optimizing your tax strategy. We even prepare your personal tax returns for you. 2. Cash Flow Planning: At Ballast Point, we take a deep dive into your cash flow to help you turn your income into wealth and get your money working hard for you. 3. Financial Life Planning: We blend conventional financial planning best practices with the emerging field of Financial Life Planning. We unpack what money means to you and make sure that your spending and saving aligns with your core values.

+ What are the core values at Ballast Point?

At Ballast Point, we have three core values. We:

1. Enjoy Life Now. We embrace today while building toward a better tomorrow

2. Cultivate Curiosity. We are passionate about continuously building our knowledge

3. Unleash Potential. We empower others to pursue their goals with confidence. Including our team members and our clients.

+ Why should I hire you instead of doing this myself?

As humans, we face many psychological biases that prevent us from achieving financial success. According to a Dalbar study, as summarized in this Kiplinger article, (we) ”found that individual fund investors consistently underperformed the market over the 20 years ending Dec. 31, 2020, generating a 5.96% average annualized return compared with 7.43% for the S&P 500 and 8.29% for the Global Equity Index 100.” One of the primary reasons for this deficiency is the emotional aspect of managing your own money. As a fiduciary to you, we will help construct investment strategies that will maximize your returns given your comfort level with investment risk.

Beyond investment returns, there are many ways we can add value that do not show up on your performance reports. For example, we can look at ways to help you reduce your expenses, reduce the risks you face in your life, and get on the right side of compounding interest.

There is a ton of information out there on Google. As an independent financial planning practice, Ballast Point Financial Planning will help filter out the noise and focus on what is important to you. We look out for your blind spots and help shorten your learning curve. It is hard to know to Google for something you don't know you should be Googling for.

You should hire us if you want someone to provide peace of mind around your money and get your money working hard for you.

+ How long does a typical engagement last?

We believe that financial planning is a process, not a product. Thus, we strive to work with our clients on a long-term basis. However, we understand that our cleints' needs change over time. At a minimum, we would like you to commit to a one-year engagement so that you can see the results of our work together over time. We want you to be happy that you are paying your retainer fee and that you have us in your corner. However, if you "graduate" and we have helped automate your finances as much as we can, we will be happy knowing that you are on a good path towards financial independence. There is no early termination penalty and you can cancel at any time.

+ Who are your typical clients?

Our typical client is a young-to-mid-career professional (approximately aged 30-45 years-old), who is smart, driven, and enjoys living life. Typically one, or both, of the clients in the engagement works in Tech.

You may be able to manage your own finances effectively if you put the time and effort into it. But because of the inherent emotional aspects of managing your finances, specifically the fear of making a mistake, and the time commitment required, you prefer to delegate the financial stressors in your life to a professional.

Many of our clients work for a tech firm with equity compensation. We help them understand what kind of company stock they have and how to maximize it to reach their financial goals.

Many of our clients are starting families, buying homes, and saving for college for their children. As of September 2024, we have helped 85 families purchase a home. Many of them are first-time homebuyers and many are buying in competive housing markets like the Bay Area.

Our best clients are collaborators who appreciate an independent third-party opinion. They also do their homework (yes, there will be homework assigned to you) on time, are responsive, and are engaged in the process.

+ What is your investment philosophy?

We believe in passive investment management. We don’t believe that you can beat the market, but we think that you are entitled to get market rates of return. We believe in global diversification, tax minimization strategies, and rebalancing when your allocations get out of tolerance.

We believe you should focus on the things you can control, like how much risk are you comfortable with, using compounding growth to its full potential and minimizing your taxes.

+ Who is NOT a good fit for Ballast Point?

If you believe that you can beat the market, are interested in trying to time the market, or want to pick individual stocks, we probably are not a good fit for each other. We do not think you can beat the market on a long-term basis, but we do demand that we get market returns out of your portfolio.

+ Do I have to come into your office?

No. We can meet virtually. We have been set up this way since we started so we can meet you wherever you are, regardless if you live locally or across the country. This will also save you time commuting to our office so we can meet at a time that is convenient for you.

+ Do I have to pay for the first meeting?

No. We believe that everyone should have access to a qualified independent financial advisor. Thus, the first meeting will be free. So bring your financial questions with you. If we aren't a good fit to work together, we will point you in the right direction.

+ What is the CERTIFIED FINANCIAL PLANNER(tm) or CFP(r) designation?

Most consumers believe that all financial planners are "certified," but this isn't true. Anyone can call themselves a financial planner, wealth manager, financial consultant, etc. However, only those who have fulfilled the certification requirements of the CFP Board can display the CFP® certification marks, which represent a high level of competency, ethics, and professionalism.

It is recognized across the world for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. – See more at the CFP Board's website.

+ How do you get paid?

We are a fee-only financial planning firm, which means our only compensation comes from the services we provide to you. We do not get paid any commissions, kick backs, trails, or any other fees other than from the fees we charge you. We are held to the fiduciary standard, which means we have to act in your best interest regardless of the compensation we receive. We believe this is the fairest form of compensation and aligns our interests with yours. To learn more about our services and pricing, click here.

+ What is a fiduciary?

A fiduciary has the highest ethical obligation to put your interests ahead of their own. We are fiduciaries – this is a fundamental value of ours and we wouldn’t have it any other way.

+ I’d like to learn more, what is the next step?

Click here to schedule an intro call.

+ Why did you name your firm Ballast Point?

Ballast Point is the name of a location at the end of Point Loma in San Diego, CA where ships would load up on heavy rocks (ballast) to prepare for their upcoming trips. The rocks would add ballast to the bottom of the ship to provide stability in case of rough seas. In terms of your finances, we will work as your guide to provide financial stability throughout the course of your personal, professional, and financial life.

On a personal note, Shawn and his wife got engaged at an overlook with a view of a different Ballast Point. This overlook is located near the port town of Two Harbors, which is on the island of Catalina.

To be clear, we do not have any affiliation with Ballast Point Brewing Co..

+ Do you work with people outside of California?

Yes. We work with clients who live across the country. No matter where yoou live in the US, we can work together.

+ Is my money safe?

Your money is held at a custodian bank, which is insured by the SIPC for up to $500,000 per account type, including $250,000 limit for cash, and are protected against losses resulting from the failure of the broker-dealer. Please note, unlike FDIC insurance for banks, SIPC does not protect against losses due to normal swings in the market. You can read more about SIPC coverage and what it protects here.