Description of Advisory Firm
YFP Planning is registered as an Investment Adviser with the SEC. It was founded on January 6, 2016. YFP
Planning is a wholly owned subsidiary of Your Financial Pharmacist, LLC (“YFP”), which offers education
about general financial topics through podcasts, articles, and other media. Timothy Ulbrich, PharmD and
Timothy Baker, CFP® are principals of YFP. As of 12/31/2022, YFP Planning reported $16,651,410 in
discretionary assets under management (AUM), and no non-discretionary assets under management.
Types of Advisory Services
Wealth Management
● Overview: YFP Planning provides Wealth Management, which is designed for clients who are
mid-career to clients in retirement. It involves a client working directly with a financial planner
typically over an extended period of time. The client receives continuous access to a financial
planner who creates and maintains the client’s financial plan and manages the client’s
investments. The plan is reviewed at least annually.
● Scope: Depending on the client’s goals and balance sheet, Wealth Management may address
some or all of the following:
○ Fundamentals
■ Account Aggregation and Net Worth: YFP Planning assists with the aggregation
of client assets and liabilities to build a dynamic net worth statement.
■ Cash Flow: YFP Planning conducts a review of the client’s income and expenses
to determine the current surplus or deficit.
■ Debt Management: YFP Planning helps clients to inventory their debt and
determine appropriate repayment strategies. The firm may also make
recommendations on how to best leverage the client’s debt to improve their
financial position.
■ Savings Plan: YFP Planning may recommend the appropriate cash reserves for
emergencies and other goals.
○ Insurance & Employee Benefits
■ Risk Management: A risk management review includes an analysis of a client’s
exposure to major risks that could have an adverse impact on the client’s
finances, such as premature death, disability or property and casualty losses.
The firm may review current policies to identify gaps in coverage and
recommend additional policies.
■ Employee Benefits: YFP Planning reviews employee benefits to ensure the client
optimizes what is available including, but not limited to, insurance coverage and
retirement plan benefits.
○ Investment Analysis & Management: This service may involve developing an asset
allocation strategy to meet a client's financial goals and risk tolerance, providing
information on investment vehicles and strategies. It may involve accounts held at YFP
Planning’s custodian or by an outside custodian. An example of this may be giving the
client advice on their current 401(k) plan.
○ Tax Planning Strategies: Advice may include ways to minimize current and future taxes as
a part of the client’s overall financial planning strategy.
○ Retirement Planning: YFP Planning provides a retirement plan analysis by calculating the
total amount needed in retirement. YFP Planning uses projections, such as Monte Carlo
analysis, to show the probability of plan success. If the client is near retirement or
already retired, advice may be given on appropriate distribution strategies to minimize
the likelihood of running out of money or needing to alter spending during the client’s
retirement years. We may also advise clients on Social Security claiming strategies.
○ Estate Planning: YFP Planning may include a review of a will, living will, power(s) of
attorney, and/or recommendation of the need for a trust and related matters. The firm
may coordinate the plan with the client’s estate attorney.
○ Miscellaneous: YFP Planning may educate and advise clients on various life events
including funding a child’s college education, purchase of a second home, or advice on a
closely held business.
Foundational Financial Planning
● Overview: YFP Planning provides Foundational Financial Planning, which is designed for clients
who are early to mid-career. It involves a client working directly with a financial planner, typically
over a 2-year timeframe. The client receives continuous access to a financial planner who
creates and maintains the client’s financial plan and manages the client’s investments. The plan
is reviewed at least annually.
● Scope: Depending on the client’s goals and balance sheet, Foundational Financial Planning may
address some or all of the following:
○ Fundamentals
■ Account Aggregation and Net Worth: YFP Planning assists with the aggregation
of client assets and liabilities to build a dynamic net worth statement.
■ Cash Flow: YFP Planning conducts a review of the client’s income and expenses
to determine the current surplus or deficit.
■ Debt Management: YFP Planning helps clients to inventory their student loans,
determine the appropriate repayment strategy and to optimize that strategy.
The firm may also make recommendations on other debts including, but not
limited to, consumer, auto and mortgage.
■ Savings Plan: YFP Planning may recommend the appropriate cash reserves for
emergencies and other goals.
○ Insurance & Employee Benefits
■ Risk Management: A risk management review includes an analysis of a client’s
exposure to major risks that could have a significant adverse impact on their
finances, such as premature death, disability or property and casualty losses.
■ Employee Benefits: YFP Planning reviews employee benefits to ensure the client
optimizes what is available including, but not limited to, insurance coverage
and
retirement plan benefits.
○ Investment Analysis & Management: This service may involve developing an asset
allocation strategy to meet a client's financial goals and risk tolerance, providing
information on investment vehicles and strategies. It may involve accounts held at YFP
Planning’s custodian or by an outside custodian. An example of this may be giving the
client advice on their current 401(k) plan.
○ Tax Planning Strategies: Advice may include ways to minimize current and future taxes as
a part of the client’s overall financial planning strategy.
○ Retirement Planning: YFP Planning provides a retirement plan analysis by calculating the
total amount needed in retirement. YFP Planning then discounts that sum back to
present value (per month) and advises the client how to adjust their financial plan to
meet their retirement goal.
○ Estate Planning: YFP Planning may help gather information pertinent to determining the
appropriate estate planning documents needed and work with an estate planning
attorney to deliver those documents for the client to review and sign.
○ Miscellaneous: YFP Planning may educate and advise clients on various life events
including combining accounts for a newly married couple, home purchase, saving for a
child’s college education, help improve credit, and assistance with negotiating job offers
or salary increases.
Investment Management
● Overview: YFP Planning advises clients on accounts managed by YFP Planning and accounts held
by outside custodians. For purposes of this Form ADV, an outside custodian is defined as any
financial institution other than TD Ameritrade Institutional (TDAI), Charles Schwab (Schwab) or
Altruist that custodies the firm’s client assets. YFP Managed Accounts are client accounts
custodied at TD Ameritrade Institutional, Charles Schwab or Altruist. The plan is reviewed at
least annually.
● Scope: Depending on the investment profile, the client may elect investment management via
YFP Planning Managed Accounts. YFP Planning considers the client’s income, net worth, tax
objectives, investment objectives, time horizon, risk tolerance, age and investment experience.
○ Investment Management (YFP Planning Managed Accounts): For client accounts
managed by YFP Planning, the firm prepares an investment policy statement (IPS). As
part of the IPS, YFP Planning recommends an asset allocation strategy, providing
information on investment vehicles and strategies. The IPS governs how the accounts
will be managed by YFP Planning, including trading and rebalancing the client account.
For additional information on the IPS, refer to Item 8.
○ Investment Management (Held-Away Accounts): YFP Planning provides an additional
service for accounts held in an outside custodian. These are primarily 401(k), 403(b), TSP,
HSA and 529 accounts that clients are actively contributing to.
Retirement Plan Services for Small Business Owners
● Overview: This service provides employee retirement plan services to employer plan sponsors
on an ongoing basis. Generally, such services consist of assisting employer plan sponsors in
establishing, monitoring and reviewing their company's participant-directed retirement plan.
● Scope: As the needs of the plan sponsor dictate, areas of advising could include: investment
options, plan structure and features selection, and participant education. In providing employee
benefit plan services, YFP Planning does not provide any advisory services with respect to the
following types of assets: employer securities, participant loans, non-publicly traded securities or
assets, other illiquid investments, or brokerage window programs (collectively, “Excluded
Assets”). All retirement plan consulting services shall be in compliance with the applicable state
laws regulating retirement consulting services. This applies to client accounts that are retirement
or other employee benefit plans (“Plan”) governed by the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”). If the client accounts are part of a Plan, and our firm accepts
appointments to provide services to such accounts, our firm acknowledges its fiduciary standard
within the meaning of Section 3(21) of ERISA as designated by the Retirement Plan Consulting
Agreement with respect to the provision of services described therein. YFP Planning will not
include voting on proxies either while acting as the employer plan investment adviser or as an
investment adviser to individual clients.
Student Loan Analysis
● Overview: YFP Planning helps clients develop an optimal student loan repayment strategy. This
service is included in Financial Planning.
● Scope: YFP Planning helps clients inventory their student loans to assess current loan balance,
interest rate and loan status. In developing recommendations, YFP Planning reviews the client’s
current financial profile, their goals regarding the loans, the client’s career trajectory and family
situation. Following delivery of the recommendations, the firm advises clients how best to
execute their strategy.
Life Planning
● Overview: The service involves following the Kinder MethodTMof Life Planning. This method
allows YFP Planning to help clients cultivate a Life Plan in conjunction with their financial plan.
● Scope: YFP Planning takes clients through the EVOKEⓇLife Planning process. EVOKE is an
acronym that stands for Exploration, Vision, Obstacles, Knowledge and Execution.
Wrap Fee Programs
● YFP Planning does not participate in wrap fee programs.