Answers to common
planning questions.

Braintrust Capital, LLC is a registered investment advisor based in San Antonio, Texas. The practice is built around integrated wealth strategy—coordinating financial planning, portfolio management, tax-aware planning, estate strategy, and business advisory under one advisory relationship.

The firm was founded by Roger Graham, who brings 25+ years of experience across wealth management, portfolio management, private equity asset management, and business transition planning.

Most advisors focus primarily on investment management. Braintrust is designed around integrated planning—where investment decisions, tax consequences, estate structures, business interests, and family goals are evaluated together rather than in isolation.

The advisor's background also includes a Juris Doctor (J.D.), advanced planning credentials (CPWA®, CIMA®, CEPA®), and executive education at Harvard, Yale, and the University of Chicago—a combination that is uncommon in traditional advisory practices.

Braintrust Capital is headquartered in San Antonio, Texas. The firm works with clients both locally and across the country. Many client relationships are conducted remotely—via video, phone, and secure digital platforms—with periodic in-person meetings as appropriate.

As a registered investment advisor, Braintrust Capital is subject to fiduciary standards under applicable law for investment advisory services. Clients should discuss specific scope and obligations with the firm directly, as fiduciary duties can vary depending on the nature and scope of services provided.

The core advisory services include: financial planning, portfolio management, estate planning strategy, tax planning coordination, business owner advisory, and private market & alternative investment strategy.

These are not delivered as isolated offerings—they are integrated within a comprehensive advisory relationship designed to address your full financial picture. See the Financial Planning page for a deeper look at planning scope.

No. Portfolio management is one component of a broader advisory relationship that can include financial planning, tax-aware strategy, estate coordination, retirement income planning, business-owner planning, and liquidity-event preparation. Clients who want investment-only management may find a more suitable fit elsewhere.

The primary focus of the practice is ongoing advisory relationships where financial planning and investment management are integrated. Reach out directly to discuss your specific situation and whether an alternative engagement structure may be appropriate.

Yes. Business owner advisory is a core part of the practice. This includes exit-readiness and value enhancement planning, succession and continuity strategy, pre-sale and post-sale wealth planning, key-person and buy-sell review, owner liquidity and diversification strategy, and coordination with M&A, legal, and tax advisors. Roger Graham holds the CEPA® (Certified Exit Planning Advisor®) designation, which reflects specialized training for this type of planning.

Yes, for qualified investors. Braintrust Capital brings an institutional perspective to private market and alternative investment strategy—drawing on executive education at Harvard Business School in private equity and venture capital. This includes alternative allocation framework, illiquidity budgeting, private market due diligence perspective, and integration with broader portfolio objectives.

The process follows four phases: Discovery (comprehensive review of goals, assets, liabilities, business interests, and existing planning), Diagnosis (identifying gaps, inefficiencies, and opportunities), Strategy Design (coordinated recommendations developed with your broader advisory team), and Ongoing Stewardship (regular plan reviews as your life, business, and markets evolve).

See the Financial Planning page for a full walkthrough of each phase.

Plans are reviewed regularly and updated when your circumstances change—significant life events, business developments, tax law changes, or market developments that affect your strategy. The goal is a living plan, not a static document that sits on a shelf.

The best starting point is a private, no-obligation consultation. This is an opportunity to discuss your goals, planning needs, and current financial situation—and to explore whether Braintrust Capital is the right fit for your circumstances. You can request a consultation here.

Portfolio decisions at Braintrust Capital are made with the full planning picture in view—your tax profile, estate structure, retirement timeline, liquidity needs, risk tolerance, and long-term goals. Investment management is not treated as a standalone function; it is one component of an integrated advisory strategy.

Braintrust Capital is designed for clients with real complexity—not generic model portfolios. Investment strategy is developed based on each client's specific objectives, tax circumstances, time horizon, concentration risk, and planning needs. The CIMA® credential (Certified Investment Management Analyst®) reflects training in portfolio construction, manager selection, and risk management at an institutional level.

Yes. Concentrated stock and diversification planning is a core component of the investment management practice—particularly for business owners, executives with equity compensation, and clients following a liquidity event. This involves careful attention to tax consequences, timing, and the interaction between diversification strategy and the broader financial plan.

The practice is especially well-suited for high-net-worth individuals, families, founders, business owners, corporate executives, and clients navigating complexity across multiple domains of wealth. Common profiles include closely held business owners preparing for exit, executives with equity compensation, multigenerational families, founders facing liquidity events, and pre-retirees with complex income planning needs.

See the Our Clients page for detailed client profiles.

The practice is designed for clients whose financial lives have reached a level of complexity that warrants integrated planning. While there is no publicly stated minimum, the advisory relationship is best suited for clients with investable assets, business interests, equity compensation, or planning complexity that justifies a comprehensive advisory approach. Reach out to discuss whether your situation is a good fit.

Yes—and this is actually the most common client profile. Braintrust Capital is designed to work alongside your existing CPA, estate attorney, and other specialists, not replace them. The coordination-first model means that advisory recommendations are developed with your other advisors in mind—and Braintrust often serves as the planning coordinator who connects those relationships into a coherent strategy.

Roger Graham holds a Juris Doctor (J.D.) from the University of Michigan Law School, a B.S. in Economics from Santa Clara University, the CPWA® (Certified Private Wealth Advisor®), CIMA® (Certified Investment Management Analyst®), and CEPA® (Certified Exit Planning Advisor®) designations. He has also completed executive education programs at Harvard Business School, Yale School of Management, and the University of Chicago Booth School of Business.

For a full overview, see the Meet Roger Graham page.

A law degree sharpens the ability to spot issues, analyze structures, and think through complex planning scenarios involving trusts, business entities, succession, estate documents, and tax strategy. It also means the advisor can communicate fluently with your estate attorney and other legal advisors—which is particularly valuable when coordinating complex planning across multiple professional relationships.

Important: The J.D. does not mean Braintrust Capital provides legal advice or drafts legal documents. Clients should engage their own attorney for legal services unless a separate legal engagement is in place.

The CEPA® (Certified Exit Planning Advisor®) is a professional designation for advisors specializing in business owner exit planning. It reflects training in business valuation, exit-readiness, succession planning, continuity strategy, and the personal wealth planning that must accompany a business transition. It is particularly relevant for closely held business owners who are building toward an eventual sale, transfer, or leadership succession.

Fee structures for advisory services are discussed directly with prospective clients and disclosed in the firm's Form ADV and advisory agreements. Reach out to schedule a consultation to discuss fee structure in the context of your specific situation and the scope of services that would be most relevant.

The initial consultation is a private, no-obligation conversation designed to understand your goals, current financial situation, planning needs, and whether Braintrust Capital is the right fit. There is no commitment required, and it is a genuine two-way conversation—we want to make sure this is the right relationship for you as much as you do.

Communication cadence is established based on each client's preferences and planning complexity. Ongoing stewardship includes regular plan reviews, proactive communication around market or tax law developments that affect your strategy, and responsiveness when significant life or business events arise that require planning attention.

No. While the advisor's law degree informs analytical thinking and planning conversations, Braintrust Capital does not provide legal advice or draft legal documents—including wills, trusts, or business agreements—unless a separate legal engagement exists under applicable rules. Clients should rely on their own qualified attorney for legal services.

No. Tax planning and tax coordination are integral parts of the advisory process—but tax return preparation is a separate service that should be handled by your CPA or tax preparer. Braintrust works closely with your CPA to ensure that advisory recommendations are informed by and aligned with your tax situation, but does not prepare returns.

No. This website is for informational purposes only and does not constitute legal, tax, or investment advice. Nothing on this website should be construed as a solicitation or offer to buy or sell any security or to provide investment advisory services in any jurisdiction where such solicitation or offer would be unlawful. Advisory services should be offered only in accordance with applicable registration, licensing, and compliance requirements.