Introduction and Firm Information This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory services provided by Ballast.
Ballast, Inc. (formerly Boardman Wealth Planning, Inc. and herein "Ballast" or the "Advisor") is a Registered Investment Advisor with the U.S. Securities Exchange Commission ("SEC"). Ballast commenced operations in 2010. Ballast was organized as an S Corporation under the laws of the Commonwealth of Kentucky in 2008 under the name Boardman Wealth Planning, Inc. and changed its legal name to Ballast, Inc. on April 3, 2015. Ballast is owned and operated by John V. Boardman, III (President), Andrew J. Reynolds (Vice President), Brian Burton (Treasurer), and Cameron Hamilton (Secretary).
The following paragraphs describe our services and fees. Refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we," "our," "us", "Ballast" refer to Ballast, Inc. and the words "you," "your," and "client" refer to you as either a client or prospective client of our firm.
Investment Management Services Ballast provides customized, discretionary investment advisory solutions for its clients. This is achieved through continuous personal client contact and interaction. Ballast works with each client to identify their investment goals and objectives as well as risk tolerance and financial situation in order to create a portfolio allocation. Ballast will then construct a portfolio, consisting of some or all of the following: mutual funds, exchange-traded funds ("ETFs"), individual stocks and bonds, and options. For clients meeting the requirements intended for accredited investors and for which we believe are suitable, we may recommend investments in alternative products. Alternative investments must be suitable for client's stated investment goals, risk temperament and investment objectives. The alternative investments can range from short term to long term investment vehicles that have various investment objectives including real estate interests offered through public or a private REIT or limited partnership interests.
Ballast's investment strategy is primarily long-term focused, but the Advisor may buy, sell or re-allocate positions that have been held less than one year to meet the objectives of the client or due to market conditions. Ballast will construct, implement and monitor the portfolio to ensure it meets the goals, objectives, circumstances, and risk tolerance agreed to by the client. Each client will have the opportunity to place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to the acceptance by the Advisor.
Pension and Retirement Consulting Ballast provides investment advisory services to companies with various employee benefit and pension plans ("Plan"). The level of services provided is separately contracted with each plan. We will work with plan trustees/fiduciaries and the third-party administrators ("TPAs") selected by the plans providing investment selection recommendations, periodic review investment selections, analyze the current retirement plan structure, custodian, third party administrator, daily record-keeper, and fees. In addition, Ballast will, if contracted by the Plan also provide a documented process for regular benchmarking of retirement plan features, plan design, fees, and Plan Providers.
4 The Adviser shall serve as an investment manager of the Plan as defined in Section 3(21) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), when it is providing the services described above and acknowledges that it is a fiduciary to the Plan in providing such services.
The Adviser does not receive discretionary authority for qualified retirement plan advisory services.
Participant Services Ballast provides investment advisory services to the participants of 403(b), 457(b) and 401(a) plans custodied at TIAA-CREF and Fidelity. Ballast also provides investment advisory services to the participants of 529 Plans through Bloomwell 529 Education Savings Plan. We have discretionary authority, based on participant parameters regarding goals, risks and objectives to determine reallocations as well as investment holdings (as determined by the Plan). In addition, we periodically review investment selections within the plan.
Ballast also provides investment advisement services to the participants of retirement plans such as 401(k) plans, which are custodied outside of our normal custodial relationships. We recommend and periodically review investment selections within the plan to help the participants select what is appropriate for them.
Limited Engagement for Plan Participants Clients may hire Ballast for non-discretionary investment advisory guidance on outside accounts. Ballast provides guidance based on your personal situation and financial circumstances. Upon the reasonable request of the Client, the Advisor will assist the Client in determining suitable investment selections available in the Portfolio. In addition, upon the request of the Client, the Advisor will review the Portfolio and will make and communicate to the Client recommendations as the Advisor deems appropriate regarding the purchase, sale, investment, exchange, conversion, and trading of the Portfolio. It is the Client's sole and ultimate responsibility of implementing the Advisor's recommendations.
Additionally, for accounts which are custodied outside of our normal custodial relationships, clients may hire Ballast to provide discretionary investment management services via a third party order management system, FeeX. Through an arrangement with FeeX client's provide Ballast the ability to process trades electronically via the client's custodian. Ballast will be responsible for the account management constructing a portfolio, and entering trades as appropriate, based upon the client's investment goals and objectives.
Financial Planning and Consulting Services We offer financial planning and consulting services which typically involve providing a variety of advisory services to clients regarding the management of their financial resources based upon an analysis of their individual needs. These services can range from broad-based financial planning to consultative or single subject planning. This planning or consulting may encompass one or more areas of need, including, but not limited to investment planning, retirement planning, personal savings, education savings and other areas of one's financial situation. Business consulting services are customized to the needs of the business and its owners. Financial planning and business consulting services are based on your situation.
If you retain our firm for financial planning or consulting services, we will meet with you to gather information about your financial circumstances and objectives. Once we specify those

long-term objectives (both financial and non-financial), we will develop shorter-term, targeted objectives. Once we review and analyze the information you provide to our firm and the data derived from our financial 5 planning software, we will either deliver a written plan to you, or meet with you to discuss a plan, designed to help you achieve your stated financial goals and objectives. Financial plans are based on your financial situation at the time we present the plan to you, and on the financial information you provide to us. You must promptly notify our firm if your financial situation, goals, objectives, or needs change.
Financial planning service may be offered to clients on either a one-time service or on an hourly basis. For consulting or ad-hoc engagements that do not encompass a complete plan, the Advisor generally does not provide a written report.
Ballast does not provide legal or tax advice and clients should speak to their accountant, attorney or other specialist, as appropriate for their unique situation. Plans or consultations are typically completed within six months of contract date, assuming all information and documents requested are provided promptly. Our firm will not charge a fee in excess of $1200 more than six months in advance of services rendered.
You are under no obligation to act on our financial planning or consulting recommendations. Should you choose to act on any of our recommendations, you are not obligated to implement the financial plan through any of our other investment advisory services. Moreover, you may act on our recommendations by placing securities transactions with any brokerage firm. Implementation of the plan is solely at the client's discretion. Typically, as many Investment Advisers that offer financial planning and investment management services, we will recommend clients execute the plan through Ballast. These types of recommendations pose a potential conflict between the interests of our firm and the interests of the client. For example, a recommendation to engage the advisor for investment management services or to increase the level of investment assets with the advisor would pose a conflict, as it would increase the advisory fees paid to the advisor. Clients are not obligated to implement any recommendations made by Ballast or maintain an ongoing relationship with our firm.
Third Party Managed Account Programs For a small number of accounts, Ballast may recommend to clients that all or a portion of their portfolio be implemented by utilizing one or more unaffiliated money managers participating Charles Schwab & Co., Inc's Managed Account Marketplace Platform, Envestnet (Program Sponsor) which is a wrapped fee managed account program. Charles Schwab & Co., Inc. will act as the broker/dealer and custodian for these services. The client will enter into a program and investment advisory agreement with the Program Sponsor and the participating money manager[s]. The Advisor will assist and advise the client in establishing investment objectives for the account[s], the selection of the money manager[s], and defining any restrictions on the account[s]. Ballast will continue to provide oversight of the client account[s] and ongoing monitoring of the activities of the unaffiliated money managers. Ballast, in most cases will have discretion in choosing the third-party money manager and has authority, by written agreement with the client, to switch managers inside the program.
The specific money manager will develop an investment strategy to meet the client's objectives by identifying appropriate investments and monitoring such investments. In consideration for such services, the Program Sponsor will charge a program fee that includes the investment advisory fee of the money managers, the administration of the program and trading, clearance and settlement costs.
The client, prior to entering into an agreement with a Program Sponsor, will be provided with the Program Sponsor's Form ADV Part 2 (or a brochure that makes the appropriate disclosures). In addition, Ballast and its client will agree in writing that that selected Program Sponsor will manage the client's account[s] on a discretionary basis.
6 Types of Investments We offer advice on equity securities, warrants, corporate debt securities, certificates of deposit, municipal securities, annuities, mutual fund shares, United States government securities, options contracts on securities, money market funds, real estate, REITs, ETFs, interests in partnerships investing in real estate and interests in partnerships investing in oil and gas interests.
Additionally, we may advise you on various types of investments based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship.
Since our investment strategies and advice are based on each client's specific financial situation, the investment advice we provide to you may be different or conflicting with the advice we give to other clients regarding the same security or investment.
IRA Rollover Recommendations Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the following acknowledgment to you.
When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule's provisions, we must:
•Meet a professional standard of care when making investment recommendations (give prudent advice);
•Never put our financial interests ahead of yours when making recommendations (give loyal advice);
•Avoid misleading statements about conflicts of interest, fees, and investments;
•Follow policies and procedures designed to ensure that we give advice that is in your best interest;
•Charge no more than is reasonable for our services; and
•Give you basic information about conflicts of interest. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest.
Assets Under Management As of December 31, 2022, Ballast manages the following assets: 7 Discretionary Assets$ 402,813,155 Non-Discretionary Assets $ 20,600,829 Total$ 423,413,984