Bull Oak Capital is a California-registered investment adviser located in San Diego, California. Bull Oak Capital and its representatives are in compliance with the current filing requirements imposed upon California-registered investment advisers by those states in which Bull Oak Capital maintains clients. Bull Oak Capital may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. Information on this site is provided for educational or informational purposes only. This website is limited to the dissemination of general information pertaining to its diversified services, including investment management and advice. Accordingly, the publication of this website should not be construed by any consumer and/or prospective client as Bull Oak Capitals’ solicitation to effect, or attempt to effect, transactions in securities or the rendering of personalized investment, portfolio, or tax advice for compensation, over the Internet. Any subsequent, direct communication by Bull Oak Capital with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Bull Oak Capital, please contact the Securities and Exchange Commission or the state of California securities law administrators for which Bull Oak Capital maintains a notice filing. Bull Oak Capitals’ current written disclosure statement discussing Bull Oak Capitals’ business operations, services, and fees is available from Bull Oak Capital upon written request. Bull Oak Capital does not transact business on this site.
Bull Oak Capital is not responsible for the accuracy of any third-party information on this site, nor any sites that are referenced via trackbacks or html links.
Links to other websites are provided as general information sources for use of visitors to our site. Bull Oak Capital has not formally evaluated the information provided via these sites, and inclusion of these links does not constitute an endorsement of any organization. The links provided are maintained by their respective organizations and they are solely responsible for their content. Trademarks are the property of their respective owners.
Bull Oak Capital does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to this web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Past performance is no guarantee of future results, and any hypothetical returns, expected returns, or probability projections may not reflect actual future performance. Therefore, no current or prospective client should assume that future performance of any specific investment, investment strategy (including the investments and/or investment strategies recommended by Bull Oak Capital) or product made reference to directly or indirectly by Bull Oak Capital in its web site, or indirectly via a link to an unaffiliated third party web site, will be profitable or equal the corresponding indicated performance level(s). Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client or prospective client’s investment portfolio. Historical performance results for investment indices and/or categories generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results.
Each client and prospective client agrees, as a condition precedent to his/her/its access to Bull Oak Capitals’ web site, to release and hold harmless Bull Oak Capital, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from Bull Oak Capital.
All web pages are intellectual property of Bull Oak Capital and are protected by copyright laws. All copyrights for Bull Oak Capital web presence are owned by Bull Oak Capital with all rights reserved. Any individual is allowed to view, print, and link to these pages provided they observe the following:
- The documents can only be used for non-commercial purposes.
- Our documents may not be associated with anything which is illegal, unethical or immoral.
- Our documents may only be used for informational purposes.
- Our documents or information therein are not specific investment recommendations.
Disclosures regarding the Bull Oak Capital Whitepaper and backtest methodology
Nothing in this document/web site should be construed as a solicitation or offer, or recommendation, to buy or sell any security. Investment management services are only provided to investors who become Bull Oak Capital clients pursuant to a written agreement, which investors are urged to read and carefully consider in determining whether such agreement is suitable for their individual facts and circumstances.
References to market or composite indices, benchmarks or other measures of relative market performance over a specified period of time are provided for your information only. Reference to an index does not imply that the Bull Oak strategy will achieve returns, volatility or other results similar to the index. The composition of a benchmark index may not reflect the manner in which a Bull Oak strategy is constructed in relation to expected or achieved returns, investment holdings, guidelines, restrictions, sectors, correlations, concentrations, volatility or tracking error targets, all of which are subject to change over time.
Criteria for choosing the benchmarks for each Bull Oak strategy are as follows:
Bull Oak Conservative: The Barclays U.S. Aggregate Bond Index was chosen as the benchmark for the Bull Oak Conservative strategy because clients will generally use the Conservative strategy as a substitute for or a complement to a bond portfolio.
Bull Oak Moderate: A blended benchmark (60% S&P 500 Total Return Index and 40% Barclays U.S. Aggregate Bond Index) was chosen as the benchmark for the Bull Oak Moderate strategy because clients will generally use the Moderate strategy as a substitute for a “balanced fund.” Our target risk for the Moderate strategy is “balanced fund” risk.
Bull Oak Aggressive: The S&P 500 Total Return Index was chosen as the benchmark
for the Bull Oak Aggressive strategy because clients will generally use the Aggressive strategy as a substitute for or a complement to an all-equity portfolio.
The following global benchmarks for each Bull Oak strategy were chosen for comparative purposes:
Conservative Benchmark: The Global Conservative benchmark is composed of 20% MSCI All Country World Index, 75% Barclays Global Aggregate Bond Index, and 5% S&P GSCI Total Return Index, rebalanced monthly.
Moderate Benchmark: The Global Growth benchmark is composed of 55% MSCI All Country World Index, 40% Barclays Global Aggregate Bond Index, and 5% S&P GSCI Total Return Index, rebalanced monthly.
Aggressive Benchmark: The Global Aggressive benchmark is composed of 70% MSCI All Country World Index, 20% Barclays Global Aggregate Bond Index, and 10% S&P GSCI Total Return Index, rebalanced monthly.
The volatility of the benchmark indices may be materially different from the individual performance attained by a specific investor. In addition, strategy holdings may differ significantly from the securities that comprise the indices. The indices have not been selected to represent an appropriate benchmark with which to compare an investor’s performance, but rather are disclosed to allow for comparison of the investor’s performance to that of certain well-known and widely recognized indices. You cannot invest directly in an index.
Bull Oak Capital presents the Risk Parity and Risk Contribution Method information starting in 1990, which is the earliest date that necessary data is available for all three of the broad asset classes being used. Additionally, the Bull Oak Capital Investment Strategies (Aggressive, Moderate, and Conservative) presents the backtested results starting in November 2006, which is the earliest date all available security pricing and data is available. Backtested results use closing prices of the day for both securities and indices. Model is not deceitfully manipulated in any way that would produce better-than-expected results – such as material changes in model directives, constraints, or optimization. We have not made any additional calculations to account for the periodic rebalancing, which we use as part of the allocation plan, nor have we deducted other expenses. For our calculations, we use the following: Global Stock (MSCI All-Country World Total Return Index), U.S. All Cap Stock (Russell 3000 Total Return Index), U.S. Small Cap Stock (Russell 2000 Total Return Index), U.S. Large Cap Stock (S&P 500 Total Return Index), Developed Foreign Stock (MSCI EAFE Total Return Index), Emerging Market Stock (MSCI Emerging Markets Total Return Index), Real Estate (FTSE/NAREIT North America Index), Commodities (S&P GSCI Total Return Index), TIPS (Barclays Capital U.S. TIPS Index), Core Global Investment Grade Bond (Barclays Capital Global Aggregate Bond Index), Core U.S. Investment Grade Bond (Barclays Capital U.S. Aggregate Bond Index), Corporate Bond (Barclays Capital U.S. Corporate Investment Grade Index), Core U.S. High Yield Bond (Barclays Capital U.S. High Yield Index), Emerging Market Bond (Barclays Emerging Market Bond Index), Floating Rate Notes (Bank of America Merrill Lynch U.S. ABS Autos Float), Risk-Free Rate (U.S. T-Bill 3 Month Middle Rate). Comparisons to indices are provided for illustrative purposes only.
Bull Oak Capital’s service was not available to investors during the time period shown. The choices made by Bull Oak Capital to use certain indices may affect the performance calculations, and different choices would result in different performance estimates. The information is only an indication of the general performance of one type of allocation plan during the time period, and other allocation plans, based on different risk profile information, could have also been selected for comparison. No index is directly comparable to the performance of an asset class. Various strategies and assumptions may affect performance, such as ETF selection, ETF tracking error and expenses, and rebalancing of allocations. The use of a different rebalancing plan could create different results.
To convey genuine backtest results, a 1% annual management fee has been deducted from all 3 strategies (Conservative, Moderate, and Aggressive) during the entirety of the backtest performance period. Further, the 1% fee was deducted on a monthly basis ( per month).
Past performance is no guarantee of future results, and any hypothetical returns, expected returns, or probability projections may not reflect actual future performance. Actual investors on Bull Oak Capital may experience different results from the results shown. There is a potential for loss as well as gain that is not reflected in the hypothetical information portrayed. The performance results shown do not represent the results of actual trading using client assets but were achieved by means of the retroactive application of a model designed with the benefit of hindsight.
Bull Oak Capital, LLC is an independent firm and has no affiliation with the University of California Los Angeles, or “UCLA,” or the UCLA Anderson School of Management, or “Anderson.” Neither UCLA nor Anderson has approved nor endorses Bull Oak Capital’s firm or investment strategies. The investment strategies Bull Oak implements for its clients was developed at the university during a graduate research project under the supervision of faculty members. Neither UCLA’s faculty nor students/alumni formally endorse, support, or approve Bull Oak’s investment methodology. Any recognition or statements of opinion of Bull Oak’s methodology or firm by faculty members or students or alumni are of their own. Such statements should not be construed as a solicitation to effect, or attempt to effect, transactions in securities or the rendering of personalized investment or portfolio advice.
Certain portions of this website (i.e. backtest results, investment strategy, etc.) may contain a hypothetical discussion of Bull Oak Capitals’ (and those of other investment and non-investment professionals) positions and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from Bull Oak Capital, or from any other investment, tax, or financial professional. No portion of the web site content should be interpreted as legal or accounting advice. Bull Oak Capital recommends clients and prospective clients consult their tax professionals and/or financial advisor before enacting strategy or recommendation perceived to have been made in this website.
YOUR PRIVACY RIGHTS
This is our privacy notice for our visitors to our Web site. When we use the words “We”, “our”, and “us” we mean Bull Oak Capital. “You” and “your” mean the types of customers described below. Nonpublic personal information means information about you that we collect in connection with providing a financial product or service to you, or responding to your inquiry. Nonpublic personal information does not include information that is available from public sources, such as telephone directories or government records. A non-affiliated third party is a company that is not an affiliate of ours.
THE INFORMATION WE COLLECT
We collect nonpublic personal information about you from the following sources: Information we receive from you on webinar registration forms or other forms, information about your transaction with us, information about your transactions with nonaffiliated third parties, and information you provide us when you make an inquiry.
We do not disclose any nonpublic personal information about you to anyone, except as authorized by law.
CONFIDENTIALITY, SECURITY, & INTEGRITY OF YOUR NONPUBLIC PERSONAL INFORMATION
We restrict access to nonpublic personal information about you to employees who need to know that information to provide you products, services or answers to your questions. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.
NONPUBLIC PERSONAL INFORMATION & NON-AFFILIATED THIRD PARTIES
Since we value our customer relationship with you, we will not disclose your nonpublic personal information to non-affiliated third parties, except as permitted by law.
NONPUBLIC PERSONAL INFORMATION ABOUT OUR FORMER CLIENTS
If you desire to no longer do business with us, we will adhere to the privacy polices and practices as described in this notice.
CONFIRMATION & MAINTENANCE OF PERSONAL INFORMATION
If you have questions or just want to confirm that your personal information at Bull Oak Capital is correct, please contact us at firstname.lastname@example.org. If you send an e-mail, do not include confidential information. It is the policy of Bull Oak Capital to maintain accurate and complete information on our customers. If you have any reason to believe that the information we hold with respect to you or your account is inaccurate, outdated, or incomplete, please contact us by telephone or in writing so that such information may be corrected or updated as soon as possible.
Investment advisers are required by law to inform their clients of their policies regarding privacy of client information. We are bound by professional standards of confidentiality that are even more stringent than those required by law. Federal law gives the customer the right to limit some but not all sharing of personal information. It also requires us to tell you how we collect, share, and protect your personal information.
TYPES OF NONPUBLIC PERSONAL INFORMATION (NPI) WE COLLECT
We collect nonpublic personal information about you that is either provided to us by you or obtained by us with your authorization. This can include but is not limited to your Social Security Number, Date of Birth, Banking Information, Financial Account Numbers and/or Balances, Sources of Income, and Credit Card Numbers or Information. When you are no longer our customer, we may continue to share your information only as described in this notice.
PARTIES TO WHOM WE DISCLOSE INFORMATION
All Investment Advisers may need to share personal information to run their everyday business. In the section below, we list the reasons that we may share your personal information:
- For everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus;
- For our marketing – to offer our products and services to you;
- For joint marketing with other financial companies;
- For our affiliates’ everyday business purposes – information about your transactions and experiences; or
- For non-affiliates to market to you.
Clients may opt out of sharing information for joint marketing to other financial companies, to our affiliates and to non-affiliates. If you are a new customer we may
begin sharing your information on the day you sign our agreement. When you are no longer our customer, we may continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.
PROTECTING THE CONFIDENTIALITY OF CURRENT AND FORMER CLIENT’S INFORMATION
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law, including computer safeguards and secured files and building.
FEDERAL LAW GIVES YOU THE RIGHT TO LIMIT SHARING – OPTING OUT
Federal law allows you the right to limit the sharing of your NPI by “opting-out” of the following: sharing for affiliates’ everyday business purposes – information about your creditworthiness; sharing with affiliates who use your information to market to you; or sharing with non-affiliates to market to you. State laws and individual companies may give you additional rights to limit sharing. Please notify us immediately by sending an email to email@example.com if you choose to opt out of these types of sharing.
INFORMATION FOR VERMONT, CALIFORNIA, AND NEVADA CUSTOMERS
In response to a Vermont regulation, if we disclose personal information about you to non-affiliated third parties with whom we have joint marketing agreements, we will only disclose your name, address, other contact information, and information about our transactions or experiences with you. In response to a California law, we automatically treat accounts with California billing addresses as if you do not want to disclose personal information about you to non-affiliated third parties except as permitted by the applicable California law. We will also limit the sharing of personal information about you with our affiliates to comply with all California privacy laws that apply to us. Nevada law requires us to disclose that you may request to be placed on our “do not call” list at any time by calling 1-831-759-6300. To obtain further information, contact the Bureau of Consumer Protection, Office of the Nevada Attorney General at 555 E. Washington Ave., Suite 3900, Las Vegas, NV 88101; phone 1-702-486-3132; email BCPINFO@ag.state.nv.us.
DEFINITIONS: Affiliates – companies related by common ownership or control. They can be financial and non-financial companies; Non-affiliates – companies not related by common ownership or control. They can be financial and non-financial companies; Joint marketing – a formal agreement between non-affiliated financial companies that together market financial products or services to you.
Please call if you have any questions. Your privacy, our professional ethics, and the ability to provide you with quality financial services are very important to us.