Registered Investment Adviser · Murray Hill, ManhattanNYC
A private practice for people building serious wealth.
I manage a tax-aware, rules-based portfolio in your own Interactive Brokers account. You work with me directly, and I act as a fiduciary on every decision.
- Credential
- CFA® charterholder
- Background
- Former Microsoft data scientist
- Investing since
- 2014
- Standard
- Fee-only fiduciary
- Languages
- English · 中文
In a solo practice, the person who builds your portfolio is the same person who places the trades and answers your email.
Yuheng (Alan) Fu, CFA
Founder & Portfolio Manager
Alan worked as a data scientist at Microsoft and has invested since 2014. In 2019 he founded Three Dots Capital, the predecessor to this firm, where he ran systematic trading strategies. He works with clients in English and Mandarin.
Full background →How it works
Your money stays in your name.
Your account, your name
Your assets sit in your own account at Interactive Brokers. I can place trades and deduct the fee you’ve authorized. I can’t withdraw money or move it anywhere else.
A tax-aware model
Most of the portfolio is a long-term core I rarely sell. A smaller futures overlay raises or cuts risk according to fixed rules, and it uses leverage.
A direct line to me
You email or call me, the person making the decisions. There’s no call center and no account rep in between.
- Custodian
- Interactive Brokers (IBKR)
- Account types
- Individual, joint, IRA (traditional & Roth) and trust
- Reviews
- Quarterly review and written report; a call whenever you’d like one
- Rebalancing
- Quarterly, when an allocation drifts outside set bands
Who I work with
I keep my client list small.
Professionals with equity compensation: RSUs, ESPP shares or a large position in their employer’s stock.
Cross-border households: families with money and obligations in the US, mainland China and Hong Kong.
Long-term investors: people who want a rules-based plan they can hold for decades.
- Minimum
- $200,000
- in investable assets
- Advisory fee
- 1% per year
- billed quarterly in arrears, deducted from your account
- My compensation
- Fee-only
- no commissions or product revenue
Fund expenses and Interactive Brokers’ trading costs are paid separately. Form ADV Part 2A has the full terms, including how the fee is calculated and any exceptions to the minimum.
Where I can help
Situations I see often.
Concentrated equity compensation
I build the rest of the portfolio around your RSUs and ESPP shares, and we set a schedule for selling down a large single-stock position.
Cross-border reporting
If you hold accounts in mainland China or Hong Kong, I keep FBAR and Form 8938 reporting in mind and work with your tax preparer.
Backdoor & mega-backdoor Roth
If your employer plan allows it, I help time backdoor Roth conversions and after-tax 401(k) contributions so they fit the investment plan.
Advice in English or 中文
We can meet in English or Mandarin, and parents or other family members are welcome to join.
I don’t give tax or legal advice. When a question needs it, I work with your CPA or attorney.
The approach
How I invest.
The full approach →- Building blocks
- U.S. stocks · Gold · Treasuries · Trend-following · Cash & T-bills
All investing involves risk, including possible loss of principal. The rules can reduce losses but can’t prevent them.
Common questions
- Where is my money held?
- In your own account at Interactive Brokers. If you already have one, we link it to my firm. If not, you open one and I help with the paperwork. I can place trades and deduct the advisory fee you’ve authorized. I can’t withdraw or transfer your assets, and you can log in and see every position and trade.
- How are you paid?
- 1% of assets per year, billed quarterly in arrears and deducted from your account. I don’t receive commissions or any payments from fund companies. Fund expense ratios and IBKR’s trading costs are separate. Full terms are in Form ADV Part 2A.
- How do you invest?
- For most taxable accounts I use a model I call Core & Overlay. The core is U.S. stocks and gold, held for years and rarely sold. The overlay is a set of exchange-traded futures on stocks, Treasuries and other markets, turned up or down by fixed rules. Because I manage risk through the futures, I can cut exposure without selling the core and triggering capital gains. The overlay uses leverage, which makes losses bigger as well as gains. If that isn’t a fit for you, I’ll say so.
- How often will we talk?
- I review each account every quarter and send a written report. I rebalance when a holding drifts outside its target range. Between reviews, email or call me whenever something changes.
- Do you work with clients outside New York?
- Sometimes. I can only work with clients in states where I’m registered or exempt from registration. Tell me where you live and I’ll check.
- How do we get started?
- Email me a few lines about your situation. We’ll set up a call to see whether I can help. If we go ahead, I’ll handle the paperwork, whether that means linking your existing IBKR account or opening a new one.
Contact
Let’s talk.
The first call is free. We’ll talk about where you are and whether working together makes sense.
Send an inquiry →