We do it differently.

    We utilize individual securities for all stock and some bond exposure rather than using third-party money managers such as mutual funds,
    and separately managed accounts. This is advantageous for a few reasons. 

    First, we cut out a significant amount of hidden costs. This is a part of our commitment to fee transparency. 

    Second, we feel we have better risk controls by managing money in this manner. Since we are picking the securities ourselves, if we need to increase or decrease risk exposure inside of an account, it is easy for us to do.