Investing at Voyage begins with the financial plan — not the other way around. Your goals, circumstances, and risk profile shape every decision we make with your portfolio.
Five principles guide every portfolio decision we make. Hover over each to learn more.
Hover a principle to learn more about our approach.
Taxes and investment costs directly reduce returns. While markets are hard to predict, costs can be controlled. We minimize expense ratios, transaction costs, and tax drag wherever possible.
The economy expands and contracts, and certain sectors outperform at different points in the cycle. A portion of the portfolio is positioned to reflect where we are in that cycle.
Investment decisions are driven by sound fundamental analysis and portfolio theory — not news, noise, or market sentiment. Math and reason, not fear and greed.
Cash feels safe, but it carries purchasing power risk. As inflation rises, the real value of idle cash erodes. Being too conservative is its own kind of risk.
Complicated strategies and fancy funds introduce more that can go wrong. We favor clarity, discipline, and straightforward approaches that are easy to understand and stick to.
Taxes and investment costs directly reduce returns. While markets are hard to predict, costs can be controlled. We minimize expense ratios, transaction costs, and tax drag wherever possible.
The economy expands and contracts, and certain sectors outperform at different points in the cycle. A portion of the portfolio is positioned to reflect where we are in that cycle.
Investment decisions are driven by sound fundamental analysis and portfolio theory — not news, noise, or market sentiment. Math and reason, not fear and greed.
Cash feels safe, but it carries purchasing power risk. As inflation rises, the real value of idle cash erodes. Being too conservative is its own kind of risk.
Complicated strategies and fancy funds introduce more that can go wrong. We favor clarity, discipline, and straightforward approaches that are easy to understand and stick to.
Every portfolio is built systematically — starting with the plan and working outward to ensure every decision serves your goals.
Your objectives, circumstances, and financial plan determine your risk targets and investment strategy. Return objectives, risk tolerance, liquidity, taxes, and constraints are all defined in the Investment Policy Statement.
We use 10-year forward-looking capital market assumptions to determine which asset classes to diversify across and in what proportions.
We primarily use low-cost passively managed funds for the core portfolio. When appropriate, we may employ actively managed funds with reputable managers or individual securities within the rotational sleeve.
Different accounts carry different tax implications. We keep tax-efficient vehicles in taxable accounts and tax-inefficient vehicles in tax-advantaged accounts — maximizing after-tax returns.
Three distinct sleeves make up our flagship investment portfolios. Each has a unique purpose — and all three are designed to work together.
Pursuant to Efficient Market Hypothesis, the core sleeve employs low-cost ETFs to diversify across five equity asset classes. The foundation of long-term portfolio growth.
Provides diversification beyond equities by investing in asset classes with a low correlation to stocks. Reduces overall portfolio volatility and offers downside protection when equity markets fall.
Invests in US sectors and industries with a positive 6–18 month outlook relative to the broader equity market, based on where we are in the business cycle.
Sector positioning by cycle phase
Building the portfolio is only the beginning. We actively monitor and maintain it throughout retirement to ensure it continues to serve your goals.
We meet annually to review the retirement plan, update your circumstances, and revise the Investment Policy Statement as your spending needs and life change.
We update our 10-year forward-looking capital market assumptions each year and rebalance the portfolio in accordance with the latest outlook.
Over time, some investments outperform others — causing the portfolio to drift from its target allocation. Once a year, we bring it back into balance.
For any actively managed funds, we annually review the manager's process, people, philosophy, and performance — comparing them against peers and a passive alternative.
Top-down fundamental analysis drives decisions in the rotational sleeve. When a company represents 1% or more of the portfolio's holdings, we attend its earnings call to assess management's guidance.
Each quarter, we publish a report covering what happened in the market over the prior three months — keeping clients informed on economic developments, portfolio context, and what we're watching ahead.
When appropriate, we may employ specialized strategies to achieve specific outcomes.
Rather than holding an index fund, we purchase the underlying individual securities directly. This allows for more precise management of capital gains taxes — harvesting losses and deferring gains with a level of control a pooled fund can't offer.
We match the time horizon of a specific financial goal with bond duration. Because the bond's entire principal is repaid at a single designated date, there's no risk of having to reinvest intermediate payments at lower rates — providing certainty for goal-specific planning.
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