Firm Description
Stone Island Financial Planning, (“SIFP” or “Stone Island”), a d/b/a of South Georgia Capital, LLC,
which was founded in November 2008 as a Delaware limited liability company, is a Naperville, Illinois
based investment adviser. SIFP is owned and controlled by Michael McAlister.
SIFP primarily provides financial planning and investment advisory services for individuals, families,
retirement plans, and charitable organizations. There are legacy clients of the firm who are invested in
different investments or receive different services and fees than other clients because these
investments and services are no longer offered by SIFP.
SIFP provides the following services through the following engagements:
Combined Financial Planning and Investment Management Services
SIFP provides both ongoing financial planning and investment management services in this
engagement. Depending upon the needs of the client, the financial planning services include analysis
and recommendations in the financial planning areas of net worth, cash flow, retirement planning,
investment allocation, security selections, estate planning, insurance benefits, education funding, and
employee benefits. Stone Island provides an estimated future view of wealth accumulation through
life expectancy using several major assumptions, including spending expectations from all sources and
investment return on investment.
SIFP also provides ongoing investment management services and, in so doing, clients appoint SIFP
with discretionary authority over the investments in their accounts directly overseen by SIFP. In
granting SIFP discretionary authority, clients grant SIFP the authority to select, purchase, and sell
securities for Clients’ account, all without prior consultation with the client. Clients receive advice
specifically tailored to their investment objectives, risk, and any restrictions on the account.
Stone Island provides investment advice to individuals on various equity and fixed income securities,
options, exchange-traded funds (“ETFs”), and mutual funds on a discretionary basis. Such investment
advice is rendered in accordance with the client’s designated investment objective(s). Clients identify
their investment objectives and may impose restrictions on investing in certain securities or types of
securities.
For those Clients who select it, SIFP provides clients
tax preparation, supplemental tax planning, tax
assessment, and tax advice through a third-party vendor. Clients will sign a separate tax engagement
letter for this service with the third-party vendor.
Stone Island does not provide estate planning services but will assist each client and the professionals
they select to perform those services.
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.
Stand Alone Ongoing Financial Planning Services
SIFP provides financial planning services on an ongoing basis that does not include investment
management services. Depending upon the client’s needs, SIFP will provide analysis and
recommendations in the areas of net worth, cash flow, retirement planning, investment allocation,
security selections, estate planning, insurance benefits, education funding, and employee benefits.
SIFP does not implement any recommendations or provide any investment management services.
Limited-Scope, Project-Based Financial Planning Services
SIFP provides limited-scope, project-based financial planning services to clients in financial planning
area(s) identified by the client. SIFP’s services may include analysis and recommendations in any of
the following areas: Development of a balance sheet; cash flow analysis; goal setting; risk capacity;
review of current asset allocation; recommendations as to future asset allocations; retirement needs
analyses; asset projections; education funding analyses; life insurance sufficiency review; or estate
planning. SIFP does not implement any recommendations or provide any investment management
services in this engagement.
Wrap Fee Program
SIFP does not participate in wrap fee programs.
Amount of Assets Under Management
As of December 31, 2023, SIFP had approximately $135,101,245 of regulatory assets under
management on a discretionary basis.