The best way to win is by not losing.

Welcome to Fort Point

We are a boutique wealth advisory firm with a unique focus on managing risk. We combine equity risk management strategies with complementary investments designed to enhance return profiles, liquidity, and tax efficiency while dramatically reducing portfolio volatility. We provide financial planning and wealth management services to individuals, families and institutional clients.

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Challenges Confronting Investors

The Gains Required to Recover from Losses are Daunting

Minimizing losses and compounding gains are the key elements required to achieve superior long-term return outcomes.


This chart is constructed solely to illustrate the hypothetical investment gains required to recoup investment losses and should not be construed as actual, backtested, or anticipated returns for Fort Point Capital Partners, LLC.

Bull Markets are Not Guaranteed

The sequence of returns is the least predictable and, consequently, the most significant variable in defining investment success. If your retirement, or spending years, begin in a bear market your lifetime compounded return experience can be materially impaired with exhaustion of your capital base being a very real possibility. By contrast, a risk-managed portfolio can fare well in both bear and bull markets.


This chart is designed to show the hypothetical effects of options overlay strategies during a market cycle that starts bearish and eventually turns bullish. This is not actual Fort Point or market performance information.

Bonds are No Longer a Safe Harbor

While more people are nearing retirement than ever before, the rates of return on standard “safe” investments such as bonds are currently negative after accounting for the impact of inflation.

Your “diversified” Portfolio isn’t Really Diversified

Volatility is the only real asset class. While you may believe that you own a “diversified” portfolio, it is likely that you have exposure to a variety of asset classes that have in the past and will likely in the future experience a severe, coordinated loss event.


Our Approach

Consistent and predictable outcomes require both broad-based diversification and options strategies that firmly mitigate risk, in effect, treating volatility as an asset class. We seek to improve portfolio returns by managing risk.

Capture Most of the Upside and Less of the Downside

By limiting your losses even slightly, you can outperform over time without capturing 100% of the upside market moves.  This is accomplished by creating return asymmetry — trading some upside participation in exchange for an unequal downside protection benefit. It is through this return asymmetry that consistent investment success can be realized.


This chart is intended to show hypothetical risk and return metrics for an investor who uses options overlays to effect his/her overall market performance capture ratio.

Low Volatility Wins Over Time

Even if your average annual return is the same every year, over the course of 20 years you’ll see that a less volatile portfolio substantially outperforms a more volatile one.


These returns are hypothetical, constructed to illustrate the impact of volatility, and should not be construed as actual, back-tested, or anticipated results for Fort Point Capital Partners LLC.

Our Investment Philosophy

  1. Total Portfolio Thinking

    We take a totally integrated portfolio approach in which all decisions are made in the context of the aggregate portfolio. The goal is to achieve extensive diversification across many return sources, with each portfolio component “big enough to matter, small enough not to hurt.”

  2. Convert Volatility into an Asset

    Volatility control is a core objective, not an abstract concept. Volatility exposes portfolios to more frequent and deeper periods of negative returns, requiring greater amounts of positive portfolio performance to recover.  Specifically, we use option overlay strategies to actively manage portfolio risk and deliver a source of reliable alpha in uncertain markets.

  3. Early to De-Risk & Early to Re-Risk

    The best time to reduce exposure is when an asset is expensive and risk seems low. The best time to increase exposure is when an asset is cheap and risk looms large. Easy to say, yet hard to do in the absence of a structured, systematic, objective investment process.

The Team

Fort Point was formed in 2008 on the belief that the traditional wealth advisory and asset management industry is broken. Our team has been curated to deliver a unique experience defined by investment excellence through superior risk control, exceptional service and attention to detail.

Ralph M. Drybrough

Managing Partner

Paul R. Touchstone, CFA

Managing Partner

Tim McDowell

Managing Partner

Heidi Johnson

Chief Compliance Officer

Ben Warwick

Chief Investment Officer

Jeffrey C. Spears

President & Head of Wealth Management

Annie M. Werner, CRPC

Managing Director

Oliver J. Kupe

Managing Director

Wade Pitts, CFP

Managing Director

Mark A. Anderson, CFP

Managing Director

Robin T. Brinckerhoff, CFP, CIMA

Managing Director

Travis Kauzer


Oswaldo Simental


Aaron Tran


Shelby Miller

Client Service Analyst

Lisa Chen

Client Service Analyst

Talk to Us

(415) 625-0909

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