Asset Management and Investment Process

Investment Process

Asset Class Allocation

Studies and our experience indicate that asset allocation may determine a significant portion of a portfolio’s return over time. So that’s where we start our investment process. We allocate your portfolio among diverse classes that we believe have the ability to provide efficient risk-adjusted return over a full market cycle.

  • Develop capital market forecasts
  • Stress Test Assumptions
  • Generate efficient frontier of optimized portfolios

Active vs Passive Allocation

To further diversify, we then allocate between active and passive investments within each asset class. We tend to favor passive investments (ETFs/index funds) in more efficient asset classes and active management when we believe managers have the potential to exploit market inefficiencies and outperform their index benchmarks.

  • Research efficiency of each asset class
  • Evaluate opportunity for active managers to outperform
  • Select active managers with a sustainable competitive advantage

Selecting Money Manager

To provide industry and market expertise in our chosen asset classes and markets, we’ve assembled a number of specialized passive and active money managers. We follow a deliberate process to select and monitor these managers.

  • Proprietary qualification screening process
  • Deep dive due diligence and investment thesis evaluation
  • Committee review and continuous monitoring

Portfolio Design

JOYN constructs portfolios with risk levels ranging from very conservative to very aggressive. Our advisors only make recommendations after exploring both your emotional risk tolerance and financial capacity for risk. Our goal is to fully understand your unique situation before tailoring a portfolio and tax management strategy that effectively meets your needs.

  • Understand your unique goals and aspirations
  • Integrate your portfolio design with financial planning and Behavioral Wealth Management™
  • Execute your tax management strategy to maximize after-tax return


Our rebalancing process is designed to maintain your portfolio risk within the target range while minimizing trading costs. The trigger to return to target is determined by the risk/return metrics of the entire portfolio which is preferable to rebalancing on a set schedule or on the movement of one asset class.

  • Annual rebalance to new asset allocation target
  • Intra-year monitoring of portfolio risk/return metrics
  • Tax-efficient trading when beneficial


We rigorously monitor all aspects of our investment process including capital markets research, asset allocation, economic conditions, and fund manager due diligence. If applicable, we systematically harvest losses in portfolios which may reduce your tax bill and increase your after-tax return.

  • Monitor all components of investment process
  • Opportunistic tax loss harvesting
  • Maximize after-tax return for clients

Our Investing Strategy

Invest for the long term. Beware of risk. Diversify. Buy low, sell high. These investment strategies may sound like elementary principles for investing, but we still believe they’re the best ones to use. We rely on tried-and-true fundamentals because they’ve been proven over time.

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Financial Benefits of Behavioral Advising

Better Advice. Better Decisions. Better Life.

There are significant financial benefits focusing on your behavior and making better decisions. Vanguard research and other academic studies have concluded that behavioral advising can add 1% to 2% in net return. (Source: Vanguard, 2016

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