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In days past, lightships operated as mobile lighthouses. Far out at sea, their bright beacons guided the way for passing ships by marking the safest marine routes where treacherous tides often prevailed. The first American lightship was stationed in the Chesapeake Bay in 1820, and these vessels continued to assist wayward navigators for more than 150 years.
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Our mission is to engage, educate, and empower. We aim to teach the critical concepts of personal finance and to realize the achievement of each client's financial goals. We strive to provide high-quality financial education and investment advice to enrich the lives of all consumers.
Our firm is founded upon and demonstrates an ongoing commitment to integrity, honesty, and excellence with the following STEER Principles:
Serving the community. We recognize our active responsibility to volunteer in the local community.
We are fierce advocates for social, political, and economic justice and community empowerment.
Treasuring each client. We fully accept our fiduciary responsibility to provide solutions which serve each client's best interests.
We are committed to equality of opportunity for all people and protect against all forms of discrimination, with a particular regard to: Income Level; Gender; Race; Sexual Orientation; Disability; Religion and Belief; Age.
Establishing relationships. We work to create enduring personal relationships with our clients and business partners. We value collaboration, cooperation, and diversity at all levels of our organization.
Exceeding expectations. We seek to provide experiences which extend beyond the results anticipated by our clients, affiliates, and associates.
We are dedicated to professional excellence.
Running on integrity. We strive to operate with the highest standards of ethics, honesty, and compassion.
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Damon P. Williams, Principal Educational Advisor
B.S. Industrial Engineering
Georgia Institute of Technology
M.S. Industrial and Operations Engineering (IOE)
University of Michigan
PhD Candidate (IOE)
University of Michigan
Research Interests: Financial Engineering
Damon P. Williams is co-founder of Lightship Mutual and serves as the firm's Principal Educational Advisor. He discovered his passion in the area of financial education while studying the mathematical models used to price securities sold in financial markets. He continues to establish his expertise through financial coursework, research including fixed income securities, and arbitrage theory in continuous time.
In spring 2004, it was brought to Damon's attention that many of his colleagues in graduate school were unaware of how financial markets worked. He recognized an immediate need to intervene. Understanding that educated consumers make better financial choices, Damon founded the "University of Michigan Graduate School Market Club". The purpose of the club was to teach graduate students - over the course of 10 meetings - about financial markets with an emphasis on cash flow, credit, and stock investing. It was at this first session that Damon, and Lightship Mutual co-founder Justin Parr, became aware of each other's interest in personal finance.
After identifying an ongoing need for personal finance education, Damon co-founded Lightship Mutual and developed the Keys to SHINE™. These powerful concepts, customizable for all levels of education, provide a clear map for clients to achieve financial independence.
Damon is currently a candidate for the CFP Board's certification and has been an invited guest speaker for several institutions and organizations as well as national conventions. He is passionate about education, and his goal is to provide everyone with a financial foundation that will propel them toward their unique goals.
Justin S. Parr, CFP®, Principal Financial Advisor
B.S. - Business Administration
University of North Carolina at Charlotte
M.S. - Information Science
University of Michigan
Justin S. Parr is co-founder of Lightship Mutual and serves as the firm's Principal Financial Advisor. He is a member of the Financial Planning Association, the Garrett Planning Network, and a CERTIFIED FINANCIAL PLANNER™ professional.
Justin holds vast knowledge concerning the design of information systems including a background in Educational Technologies and Visual Persuasion. His expertise in crafting complex concepts into understandable, intuitive shapes and forms helps set Lightship Mutual's dynamic workshops and individual advising sessions apart from the rest of the industry.
Justin's real-life experiences have provided him with an expansive view of the economic landscape along with an appreciation of the challenges and rewards of true financial independence. In 2004, he created and served as financial advisor to the ECPI College of Technology - Personal Finance Club, which taught college students the fundamentals of money management.
He began his business career with AOL/Time Warner Corporation and then spent several years working with the Financial Management Systems group at Oracle Corporation in Redwood Shores, California. At Oracle, Justin was engaged in team research and user testing of financial applications relating to Accounts Payable, General Ledgers, and the Financial Close Process.
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The advisors of Lightship Mutual are proud members of the following societies and adhere to each organization's standards of professionalism, integrity, and excellence:
 Committed to Continued Education
The Certified Financial Planner Board of Standards is a professional regulatory organization. The CFP Board fosters the highest professional standards in personal financial planning so that the public has access to, and benefits from, competent financial planning services. Only individuals who meet rigorous certification requirements are authorized by CFP Board to use its certification trademark. Justin S. Parr is a CERTIFIED FINANCIAL PLANNER™ professional.
Committed to Objectivity
As a Fee-Only advisory firm our recommendations are pure, free from any type of fee received by investment funds, insurance products, and other third-party vendors. Fee-Only advisors provide consumers and institutions with comprehensive and objective financial advice, keeping the best interests of each client in mind – with neither the advisor nor any related party receiving commissions based on the purchase or sale of specific financial products.
Committed to Professionalism
Lightship Mutual is a member of the Financial Planning Association (FPA), a membership organization for the financial planning community. Members include individuals and companies who are committed to championing the financial planning process.
Our planners are dedicated to supporting the financial planning process in order to help people achieve their goals and dreams. The FPA believes that everyone needs objective advice to make smart financial decisions and that when seeking the advice of a financial planner, the planner should be a CFP® certificant.
Committed to Helping People from All Walks of Life
The Garrett Planning Network is a nationwide network of professional, Fee-Only financial advisors. Members are dedicated to providing affordable, competent, unbiased financial advice to middle-market consumers, on an as-needed basis. Only 1% of the nation's financial planning firms are structured this way. As staunch consumer advocates, we believe all Americans deserve access to professional, unbiased financial advice. Garrett Planning Network members strive to offer financial services to all clients, not just the wealthy.
Committed to Honoring Our Nation's Heroes
The Military Officers Association of America (MOAA) is the nation's largest and most influential association of nearly 400,000 military officers, including active duty, retired, National Guard, Reserve, and former officers and their families. It is an independent, nonprofit, politically nonpartisan organization. The Military Officers Association of America currently has
a strategic partnership with members of the Garrett Planning Network in which MOAA members receive a discount of 20% on all financial planning services. Lightship Mutual proudly embraces this partnership, and we are honored to serve members of our military community.
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What does "Fee-Only" mean?
This term refers to the method of compensation for the financial advisor. The National Association of Personal Financial Advisors (NAPFA) defines a fee-only financial advisor as one who is "compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product."
The Plain English Explanation
As NAPFA affiliates, Lightship Mutual works independently to serve our clients' best interests. Our revenues are generated entirely from client fees. We do not accept commissions from mutual funds, insurance companies, advertisers, or any other third party in exchange for selling their products to our clients. We believe a conflict of interest exists when advisors gain financially from the specific products they recommend to clients.
What other qualifications does NAPFA require for affiliation?
NAPFA affiliates must demonstrate their ability to provide sophisticated, comprehensive financial planning. Other requirements include:
- Compliance with federal and state investment advisor regulations
- Advanced education in the field or other related credentials
- Significant professional experience
- Peer review of a comprehensive plan
- Extensive continuing education
Do NAPFA advisors have any fiduciary responsibilities?
Yes. NAPFA-affiliates are required act from a position of confidence and trust and should always place the client's best interests in front of their own. In addition, NAPFA members have taken the NAPFA Fiduciary Oath (read the oath below).
Don't Just Take Our Word For It
"Financial Planners who take commissions have a built-in conflict of interest...even with disclosure, my choice would be a Fee-Only planner." - Jane Bryant Quinn
"Start with the general practitioner...a Financial Planner(whose) compensation should be from fees alone." - MONEY MAGAZINE
"The most important matter is how the planner is compensated. Hire the planner who...has no financial stake in (your) investments." - FORBES MAGAZINE
NAPFA Fiduciary Oath
The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest which will or reasonably may compromise the impartiality or independence of the advisor.
The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client's purchase or sale of a financial product. The advisor does not receive a referral fee or other compensation from another party based on the referral of a client or the client's business.
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Although most people think that all financial planners are "certified", this simply isn’t true. Anyone can call himself or herself a "financial planner." However, only those who have fulfilled the demanding certification requirements of CFP Board can display the CFP® certification or CERTIFIED FINANCIAL PLANNER™ marks.
When selecting a financial planner, you need to feel confident that the advisor you choose is competent and ethical. Only advisors who agree to adhere to the following CFP Board requirements are given the right to use the CFP® and CERTIFIED FINANCIAL PLANNER™ certification marks.
Education
CFP® professionals must develop their theoretical and practical financial planning knowledge by completing a comprehensive 18-hour course of study at a college or university offering a financial planning curriculum approved by CFP Board. Other options for satisfying the education component include submitting a transcript review or previous financial planning-related course work to CFP Board for review and credit, or showing the attainment of certain professional designations or academic degrees.
Examination
CFP® practitioners must pass a comprehensive two-day, 10-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, the exam covers the financial planning process, tax planning, employee benefits, and retirement planning, estate planning, investment management and insurance. This comprehensive examination ensures each CFP® professional has detailed knowledge in every aspect of personal financial planning.
Experience
CFP® professionals must have three years minimum experience in the financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.
Ethics
As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth ethical responsibilities to the public, clients, and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.
How does CFP Board’s Code of Ethics Benefit me?
Through the Code of Ethics, CFP® practitioners agree to act fairly and diligently when providing you with financial planning advice and services, putting your interests first. The Code of Ethics states that CFP® practitioners are to act with integrity, offering you professional services that are objective and based on your needs. They are required to provide you with information about their sources of compensation and conflicts of interest in writing.
Ongoing Certification Requirements
Once certified, CFP® practitioners are required to maintain technical competence and fulfill ethical obligations. Every two years, they must complete a minimum 30 hours of continuing education to stay current with developments in the financial planning profession and better serve clients. Two of these hours are spent studying or discussing CFP Board’s Code of Ethics or Practice Standards. In addition to the biennial continuing education requirement, all CFP® practitioners voluntarily disclose any public, civil, criminal or disciplinary actions that may have been taken against them during the previous two years as part of the renewal process.
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A fiduciary places your interests first. Lightship Mutual does not accept commissions from advertisers, mutual funds, brokers, insurance companies, or any other outside party. We are solely compensated by the client, and we work solely for the client.
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Financial planners and investment advisors traditionally only targeted the affluent, clients with a net worth greater than $1 million. However, U.S. Census Bureau data shows that this demographic represents only about 2% of American households.
On the other end of the scale, the U.S. Department of Health and Human Services set the 2006 Poverty Guideline for a family of four at approximately $20,000. This demographic comprises about 12% of American households.
We define the middle market as individuals whose net worth falls somewhere between the broad definitions of affluence and poverty; this includes about 86% of all Americans. In fact, anyone who works for a living, or anyone who has had to work for a living, is included in our definition of the middle market. Quite simply, we serve mainstream working-class Atlantans.
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