Financially Sound Program
A true financial plan is not a one-time deliverable. It's not a giant stack of documents and spreadsheets to go through. Financial planning is an ongoing process that helps you make well-informed, mindful decisions throughout life.
This comprehensive financial planning program gives you a process and a framework to use to make smarter money decisions -- decisions that allow you to create, grow, and keep more wealth. The people who tend to get the most from the program are motivated professionals with a total household income of $250,000 or more who want a custom-designed strategy that organizes their finances, prioritizes their goals, and provides an action plan to create and grow wealth.
In working with BYH, you go from being reactive with your finances and waiting for something to happen, then trying to figure out how to deal with it… to being proactive: acting before things need to be fixed, before something happens, before things go wrong.
The Financially Sound program is about taking control of your financial situation and creating the life that you want to live, both today and tomorrow. Through this ongoing program, you'll receive:
- Initial development of a financial strategy, including a custom-designed structure and a system to create the life you want while also ensuring that your money lasts as long as you need it to (whether that’s over your own lifetime or well beyond so you can leave a lasting legacy for children, family, or causes you care about)
- Clarity on the details that matter most, including knowing your priorities, getting the right savings rate to ensure you can achieve what's most important to you, and developing an appropriate investment plan that allows you to grow wealth without taking on outsized risks
- Evaluations of various options and scenarios, using long-term projections to see likely outcomes for each potential decision so you can make informed choices about what paths you want to pursue
- Advanced planning concerns to make sure you maximize every opportunity -- and guard against potential risks -- including tax planning and considerations, charitable giving strategies, advanced equity compensation or private investment strategies, and other areas that are about more than just the numbers (like moving to a new location, changing careers, starting a business, supporting aging parents, etc)
Financially Sound clients also receive plan implementation support and adjustments over time, done via 5 meetings with your advisor in the first year and 2-3 meetings in every year after. That ongoing guidance includes:
- Updated projections and analysis to keep you (and your wealth) moving toward what’s most important
- Identification of future scenarios that align with your vision and offer the best chance to succeed
- Reports and analysis that focus on cash flow, investments, and net worth so you’re aware of your progress
- Continual monitoring for new opportunities to consider to optimize your financial life
- Accountability and guidance on implementing your comprehensive plan over time through access to your advisor and the BYH team as needed
Have questions about getting started or how it works?
Making the right investment decisions is critical to building wealth — but trying to manage your own investment program on a DIY basis can leave you second-guessing every decision, missing opportunities, and making mistakes you didn't even know you were making. Successful investing requires objectivity, and it's really difficult to remain objective when you're dealing with your own money. There are endless choices and decisions to make and it's easy to stray from rational strategies as emotions take over in high-pressure, stressful situations.
That doesn't even account for the fact that most people simply don't have the time or energy to add one more thing to their plate that must be tended to and managed. Our investment management program is designed for those who know where their time is best spent — and it's not on wrestling with the required research, management, ongoing implementation and system maintenance required to uphold a successful investing strategy and program.
Setting up a rules-based investment program that runs consistently is imperative to your success at creating, building, and growing your own wealth. That's exactly what BYH investment management provides along with ongoing support, review meetings, and professional guidance when things feel uncertain or shaky in the markets (or in your life).
We aim to provide the peace of mind that comes from knowing a team of experts has your back. We're here to maintain the system, keep things on track, test the plan periodically to ensure it’s consistently on track for success, and make objective recommendations and decisions that are free from the kind of emotional thinking that comes into play when you're on your own without expert guidance.
Don't lose your potential to create, grow, and keep wealth by making the same mistakes the average investor makes. Go beyond DIY and get a professional investment strategy that runs off academic research and empirical evidence. When we work together to better manage your investments, you can enjoy:
Professional Investment Management
- Investment portfolio design tied to your risk tolerance and goals
- Portfolio monitoring and periodic rebalancing
- Globally diversified, tax efficient portfolios using low cost institutional investments when available
- Ongoing investment education tailored to your knowledge and level of experience
- Up-to-date performance reporting and periodic consolidated statements showing all accounts in one place
Superior Service & Experience
- No investment minimums
- Access to fee-only financial planners working as fiduciaries 100% of the time; you know your advisor always follows a legal and ethical standard that puts your best interests first, no matter what
- Direct access to an investment manager who knows your goals
- No more wasting time on hold with a busy call center
- Online account access to your investments whenever you need it
Still not sure about the value of working together to manage your investments? You're smart, motivated, and successful at what you do, so it's natural to think, "can't I just do this myself?" The answer is, you can — but trying to DIY leaves you vulnerable to a number of issues most investors going it alone simply can't overcome: Emotional decision-making. Cognitive biases. Failing to understand the role of randomness. The things you don't know, and the things you don't know you don't know.
BYH provides investment management not because you're incapable of making smart choices on your own. We know you could figure out anything you feel motivated to learn! But the thing is, “are you capable?” is the wrong question to ask. Here's what to consider asking instead if you're thinking of taking on a DIY wealth management role for yourself:
- Do I have the time and energy to devote to doing this task well?
- Is this how I want to spend my free time? Is there a better use of my time and energy?
- How will I enforce a rules-based system on myself so my emotions in the short-term don't lead me to make mistakes with my long-term strategy?
- Who will check my blind spots? How will I deal with what I don't know I don't know?
- If I have questions, where will I get answers I can trust?
When you work with BYH, you don't have to worry about questions like this. We'll take care of the investment management for you, so you're free to use your time and energy in other areas of your life.
One of the biggest values of a financial advisor is not in all the great advice we can give you about what to do. It's just as important to get the advice about what not to do; about what actions are not conducive to meeting your goals. We're here to stand between you and making a big, costly mistake with your investments by keeping you on a strategic path to long-term success (especially when it's more tempting to deviate to chase a potential short-term win).
As an added bonus, clients of Beyond Your Hammock receive access to Dimensional Fund Advisor portfolios -- investments only available through qualified and approved financial advisors.
DFA funds are only available through qualified and approved financial advisors, and they're designed to be cost-effective solutions that help investors pursue higher expected returns across the market through broad diversification. The funds combine DFA’s innovative methodology with a research-based investment approach and years of expertise in applying financial science to real-world investment solutions.
QuickStart Financial Plan
This program is designed for professionals who are not ready for the Financially Sound Program, but still want financial support right now. We focus on 2-3 financial topics from this list to help you understand which actions to take next.
The QuickStart Program (which can range from one to three meetings) offers conversations than range from 90 minutes to 2 hours, providing you with an opportunity to get answers to your most pressing questions and obtain a deeper understanding of your current finances. We take a deep dive into the specifics of your situation, evaluate the various options you have and paths you could take, and run projections so we can see the impact of your decisions over the long-term.
You’ll walk away with clarity on action steps to take next so you can confidently make further progress on your own. Here’s what else you receive with the QuickStart Program:
- Initial help organizing your relevant financial information
- Analyses and preliminary projections prepared before your scheduled meeting by your advisor and the BYH team (this means your meeting time is completely devoted to your planning needs, since we do this work beforehand)
- For one-meeting QuickStart programs, a 2-hour conversation (phone, video or in person) to answer questions and create an action plan for you to use immediately
- For two to three-meeting QuickStart programs, you'll receive multiple 90-minute meetings to dig deeply into specific areas of your finances and create an action plan to use immediately
- 2 weeks of email access after our meeting(s) to answer any clarifying questions about the action plan