# Breakwater Capital

> Breakwater Capital is an SEC-registered investment advisory firm in Kalamazoo, MI, registered since 2020, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 172498
- Filed as: BREAKWATER CAPITAL
- Legal name: Breakwater Capital, LLC
- Also doing business as: INTEGRATED FINANCIAL PLANNING
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Kalamazoo, MI
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/172498
- AdvisorCensus page: https://advisorcensus.com/firm/breakwater-capital-kalamazoo-mi-172498

## Quick answers

**How is Breakwater Capital compensated?**
On its Form ADV (Item 5.E, October 2026), Breakwater Capital reports these compensation arrangements: a percentage of assets under its management; hourly charges.

**Where is Breakwater Capital located?**
Breakwater Capital's principal office is in Kalamazoo, MI, according to its Form ADV.

**Is Breakwater Capital registered with the SEC or a state?**
Breakwater Capital is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 172498.

**How much does Breakwater Capital manage?**
Breakwater Capital reports $156,644,142 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Breakwater Capital's assets and staff changed since 2021?**
In the Form ADV data for Breakwater Capital: Regulatory assets under management: $125,500,000 in the October 2021 data and $156,644,142 in the October 2026 data, up 25%. Total employees: 1 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Breakwater Capital serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (90); high net worth individuals (47); charitable organizations (6).

**Which custodians does Breakwater Capital use?**
Breakwater Capital's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., National Financial Services LLC and TIAA-CREF Investment Management LLC as custodians holding 10% or more of its separately managed account assets.

**Does Breakwater Capital report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/172498

**Does Breakwater Capital state an account minimum?**
Its Form ADV Part 2A brochure dated March 31, 2026 says: "We accept new clients who have a minimum of $250,000.00 to invest. This requirement is subject to exceptions on a case-by-case basis."

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Account minimum: $250,000 (the brochure says it may be waived or negotiated)

> We accept new clients who have a minimum of $250,000.00 to invest. This requirement is subject to exceptions on a case-by-case basis.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- National Financial Services LLC
- TIAA-CREF Investment Management LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $156,644,142
- Discretionary: $156,644,142
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 90 | $28,735,387 |
| High net worth individuals | 47 | $118,732,010 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 6 | $9,176,745 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2020 (6 years)
- Employees: 2 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- breakwater.capital
- LinkedIn @ross-pollard-91622245

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $125,500,000 | 1 | March 27, 2021 |
| October 2022 | $131,413,439 | 2 | September 27, 2022 |
| October 2023 | $114,501,925 | 2 | April 3, 2023 |
| October 2024 | $128,294,481 | 2 | March 18, 2024 |
| October 2025 | $142,589,929 | 2 | March 29, 2025 |
| October 2026 | $156,644,142 | 2 | March 31, 2026 |

Regulatory assets under management: $125,500,000 in the October 2021 data and $156,644,142 in the October 2026 data, up 25%.
Total employees: 1 in October 2021 and 2 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Breakwater Capital (CRD 172498): Form ADV filing data as of October 2026.