A.L. Capital Advisory Anton Ladnyi, CFA · Portfolio Architect Independent · Fee-only · Cross-border
€750one-time Free 15-min fit call
Independent portfolio architecture

Portfolio Strategy for Self-Directed International Investors

A written investment strategy for your goals, holdings and cross-border constraints. One flat fee. Your assets stay at your own broker.

Anton Ladnyi, CFAFormerly Goldman Sachs & J.P. MorganVerify CFA charter
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Explore the sample work
€750
One-time
0%
AUM fee
€0
Commissions
Client mandates and independently verifiable references

§ 01 — Recognition · Who this is for You are probably here because…

This engagement is specific rather than general. It is built for self-directed, non-US-resident investors — from about €250k to €5m and beyond — facing a decision big enough that the structure matters more than the ticker. It serves both halves of an investing life: building the capital, and later living off it. If several of these describe you, the fit is likely good.

01 · Accumulation
You are still building toward a number
A lump sum to deploy, regular contributions, or both — and a target you actually want to hit, over ten years or thirty. You need an allocation built for compounding, a policy you will still follow when markets are ugly, and an honest answer on whether the target is reachable at all.
02 · Decumulation
You are turning capital into retirement income
A withdrawal framework that survives a bad sequence of returns, not one that works on average. Average is not the scenario that ends retirements. Sequence risk, not expected return, is the binding constraint.
03 · Self-directed
You invest through IBKR or another execution-only broker
You are comfortable placing your own trades and intend to keep managing the portfolio yourself. You do not need someone to press the buttons — you need the design to be right.
04 · Cross-border
You live outside the US, and structure actually matters
UCITS, fund domicile, share classes, currency exposure and cross-border tax treatment are not footnotes in your situation. They are the difference between a portfolio that works and one that quietly leaks.
05 · Fee model
You have spoken to wealth managers and did not like the maths
You do not want to pay a percentage of everything you own, every year, indefinitely, for a relationship you did not ask for and cannot easily price.
06 · The role
You want a portfolio architect — not a manager
Someone to design the structure, write the mandate and stress-test the logic. Then hand it to you. You keep custody, you keep control, and you execute.

§ 02 — The deliverable · Investment Policy Statement Not a conversation. A document.

Most advice evaporates the moment the call ends. This engagement produces a written Investment Policy Statement — your personal investment mandate — that governs decisions long after the session. These are real pages from a real report.

Page from a sample A.L. Capital Advisory Strategic Session report.
Page 1 of 6

Objective, risk mandate, return target, constraints and the governing framework.

Illustrative sample. Figures describe this example and are not a projection of your results.

Read the full sample report A real client IPS, redacted

§ 03 — Precedent · Client engagements Selected mandates.
Documented decisions.

Real, paid engagements: two named examples and one anonymised at the client’s request. Explore the decisions documented, verify the published identities, and inspect the available redacted mandates. These are summaries of our work, not quotations from clients.

Decumulation · drawdown

A thirty-year drawdown plan, pressure-tested before the first withdrawal.

Identity withheld at the client’s request
  • Explicit risk limits — built against drawdown, CVaR and volatility ceilings, not just a return target.
  • 35% equity / 55% fixed income / 10% private credit — strategic allocation via policy-weight optimisation.
  • Cross-border implementation — instrument domicile and distribution characteristics evaluated to reduce avoidable withholding exposure, subject to confirmation with local tax counsel.
  • Withdrawal sustainability — stress-tested against a Monte Carlo ruin ceiling, with the safe withdrawal range mapped rather than assumed.
Redacted IPS not published — anonymised engagement
Accumulation · 30-year horizon

The honest probability behind the number — not just the number.

Paolo M. Verify on LinkedIn
  • A = 2.92 risk-aversion coefficient — placed in the Growth tier by behavioural calibration, not a generic questionnaire.
  • 82% equity / 18% gold, five holdings — Black-Litterman posterior allocation across a global portfolio.
  • UCITS correction — a non-UCITS gold holding swapped for a compliant equivalent.
  • 30-year model, 10,000 Monte Carlo paths — the gap to his self-set target quantified, and exactly what closes it.
Read his redacted IPS
Accumulation · 10-year target

A ten-year growth target, priced as a probability — not a hope.

Yurii K. Verify on LinkedIn
  • A = 4.4 risk-aversion coefficient — calibrated by revealed-preference profiling, not a questionnaire.
  • Nine-holding fixed strategic policy — 35% core S&P 500, the balance across emerging markets, Japan and satellites.
  • 87.7% probability of reaching his target — quantified via a 10-year, 3,000-path Monte Carlo simulation.
  • HHI concentration check — flagged at construction and monitored against the covariance risk model rather than left unmeasured.
Read his redacted IPS

On this evidence: these are real, paid engagements, published with each client’s consent; two are named and independently verifiable on LinkedIn, and the third is anonymised because that client did not consent to being named. The figures describe the analysis performed, not investment returns — a stated probability is a modelled estimate, not a forecast, and nothing here is a projection of your results. Most clients of this practice to date hold accumulation mandates, which is why two of the three shown are.

Your next decision

Put your situation in context.

A short fit call establishes whether this engagement suits the decision you face.

Book a free 15-minute fit call

§ 04 — Accountability · Your portfolio architect Who is actually doing the work.

Anton Ladnyi, CFA — founder of A.L. Capital Advisory
Anton Ladnyi, CFA · Founder & Portfolio Architect
Credential
CFA® charterholder. The charter covers investment analysis, portfolio management, risk and professional ethics — the four things you are implicitly trusting someone with in a decision of this size. Verify the credential independently
Background
Eight years in investment banking, including Goldman Sachs equity research and J.P. Morgan wealth management. MSc, International Business Management.
Specialisation
Portfolio architecture and portfolio strategy for self-directed, non-US-resident investors. Cross-border structure, UCITS implementation and decumulation design are the core of the practice, not an adjacent service line.
Accountability
One adviser. No handoff to a sales team, no relationship manager, no junior doing the modelling. You speak to the person who builds the mandate.
Economics
No commissions. No custody. No AUM fee. There is no product being distributed and no revenue that depends on what you decide to buy. The only payment is the flat fee you already know about.
Verification
Charterholder status, CFA Institute membership and Level I / II credentials are independently verifiable — links are in the footer. A.L. Capital Advisory is not endorsed by, affiliated with, or certified by CFA Institute.

§ 05 — The alternatives · AUM adviser vs robo-advisor Three ways to solve this. Only one is this.

ModelWhat you are buyingTypical feeThe trade-off
Ongoing AUM manager Ongoing discretionary portfolio management and advice ~1–2% of assets, every year You delegate portfolio decisions, and the cost compounds as your wealth grows
Robo-advisor / model portfolio An automated allocation off a shelf A low recurring percentage Little cross-border personalisation, no written mandate, and no one accountable for the design
This engagement One-time portfolio architecture and a written mandate you own €750, charged once You implement it yourself, and there is no ongoing relationship unless you ask for one

The main alternative to a percentage-of-assets wealth manager in Europe is a flat-fee, defined-scope engagement: you pay once for the portfolio architecture and the written mandate, and you keep executing the trades yourself at your own broker — rather than paying 1–2% of everything you own, every year, to a manager who takes custody.

A fair reading of that table: if you want someone to run the money for you, the first row is genuinely the right answer and you should take it. This engagement only makes sense if you intend to stay self-directed. Fee descriptions are general market characterisations, not quotes for any specific provider.

§ 06 — Process · How the engagement works Five steps. No surprises.

Step 01
15-minute fit call
Scope, residence, assets, the decision you are facing, and timing. A yes or no on whether this can help.
Free · no card
Step 02
Book the Strategic Session
If there is a fit, you book a date and Anton sends an invoice with payment details. The pre-work pack follows on payment.
€750 · once
Step 03
Pre-work
Holdings, objectives, constraints, risk profile and account context — submitted before the session, not during it.
~30 minutes of your time
Step 04
The session
Direct with Anton. Portfolio structure, allocation, implementation architecture and the trade-offs behind each decision.
60–90 minutes
Step 05
Written deliverable
Your Investment Policy Statement and implementation framework, in writing, plus email access for questions that arise.
+ 30-day window

§ 07 — The fit callA clear next step.
Fifteen minutes, with Anton.

Discuss the decision you face and establish whether the €750 Strategic Session is a fit.

15 minDirect with Anton
FreeNo obligation

A scope and suitability conversation. No holdings upload or preparation required. Investment recommendations follow only within an agreed engagement.

Inspect the work before you bookSample Strategic Session reportClient mandate: accumulationClient mandate: growth

Nothing is charged at booking. If you proceed, the €750 engagement is confirmed and invoiced by bank transfer.

Book your free fit call

Your details, then the decision you face.

Step 1 of 2 · Your details

Free · 15 minutes · No card · Choose your time next

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Your details are being sent. You can choose a time in the calendar.

No card was taken and none is needed. If the call confirms a fit, the €750 is invoiced by bank transfer afterwards — and the 30-day window after delivery means direct email access to Anton for anything that surfaces while you implement.

§ 08 — Questions · Portfolio strategy FAQ What people ask before booking.

Something not answered here? Ask it on the fit call — or email [email protected] and Anton will reply directly.

Do you manage or hold my assets?
No. A.L. Capital Advisory does not take custody of client assets, does not hold client funds, and does not execute trades on a client’s behalf. Your money stays in your own account, at your own broker, in your own name. You implement. That is the entire point of the model — and it is why there is no percentage-of-assets fee to charge in the first place.
Is this suitable if I use Interactive Brokers?
Yes — IBKR is the most common platform among clients of this practice. The engagement is designed around execution-only brokers. Account structure, fund domicile and share-class selection are addressed for the platform you already use, rather than assuming you will move.
Is the fee really €750 once?
Yes. €750 is charged one time for the Strategic Session and its written deliverable, and includes the 30-day clarification window. There is no recurring fee, no percentage-of-assets fee, and no commission. Fund, brokerage, tax and implementation costs are charged by third parties and are separate — they are not paid to A.L. Capital Advisory. Nothing is charged when you book. The fee is invoiced by bank transfer once the fit call has confirmed the engagement, and the session is scheduled from there. If you have already had a €150 Portfolio Health Check, that €150 is credited against this fee — €600 remaining after the €150 Health Check (€750 combined). Most people booking from this page come straight to the Strategic Session; the credit applies either way.
Why not just buy a global index fund, or use a robo-advisor?
For many people, that is the right answer. A single global index fund plus a rebalancing rule is an excellent default. This engagement earns its fee only where the structure around the fund is what is actually at stake — which fund domicile and share class for your tax residence, how a lump sum should be phased in, what the withdrawal rate can safely be, how much concentration you are carrying without having measured it, and what happens to all of that when you move countries. A robo-advisor does not answer those questions, and does not give you a written mandate to hold itself to.
What portfolio size is this designed for?
Most clients hold between €500,000 and €2,000,000 in investable assets, and the practice works with mandates well above that. The engagement can still make economic sense from roughly €250,000 where the situation is genuinely complex — a cross-border move, a long-horizon growth mandate, a pension lump sum, a concentrated position. Below that, the honest answer is usually that a €750 engagement is not the best use of your money, and the fit call exists to establish that before anyone pays anything.
Do you work with non-US residents?
The practice is built specifically for non-US-resident investors, including cross-border professionals and expatriates. Fund domicile, UCITS structures and share-class selection for non-US residents are a core part of the work rather than an afterthought. This service is not directed at residents of Finland, Sweden, Norway, Denmark, Iceland, or Poland.
What does “Portfolio Architect” mean?
A portfolio architect designs the structure of a portfolio — the strategic asset allocation, the risk limits, the rebalancing rules, the fund and account architecture — and then hands that design to the investor to own and implement. A discretionary wealth manager does close to the opposite: they take custody and trade the portfolio for you, typically for an annual percentage of your assets. The architect builds it; you run it. “Portfolio Strategist” describes the same role and is used interchangeably here.
What happens on the free 15-minute call?
It is a scope-and-fit conversation, not a free portfolio consultation. Anton establishes what decision you are facing, where you are tax resident, which broker you use, roughly what you hold, and whether the Strategic Session can realistically help. You will also see the deliverable and the process. If it is not a fit, he will tell you on the call — that outcome is more useful to both sides than a sale.
Is tax or legal advice included?
No. A.L. Capital Advisory does not provide tax or legal advice and does not replace local tax or legal counsel. Cross-border structural considerations are discussed as part of portfolio design, but any tax or legal position must be confirmed with a qualified adviser in your own jurisdiction before you act on it.
What exactly is the written deliverable?
A written Investment Policy Statement — your personal investment mandate. It sets out the strategic asset allocation, explicit risk limits, rebalancing thresholds, concentration constraints, a withdrawal framework where relevant, and the implementation architecture including account types, fund domicile and share classes. Real pages are shown in §02 above, and two redacted client examples plus a full sample report are linked. You do not have to take the format on trust — read one.
Can I book the €750 session without an intro call?
Yes. If you already know this is what you want, book the Strategic Session directly and skip the qualification form — the link is in the booking panel above and in the page header. No payment is taken at booking either way, so nothing is lost by choosing one route over the other: Anton confirms the engagement and sends an invoice afterwards. The 15-minute call exists to reduce risk for people encountering the practice for the first time, not as a gate you have to pass through.
Do I need a financial advisor if I already use Interactive Brokers?
Not in the traditional sense. If you already place your own trades on IBKR, you do not need someone to manage the account for you — you need the structure around it designed correctly once: the strategic asset allocation, the fund domicile and share-class decisions for your tax residence, and a written mandate to hold yourself to when markets move. That is a one-time design problem, not an ongoing management relationship, which is why this engagement is scoped and priced the way it is.
What is a fee-only financial advisor, and how is that different from a percentage-of-AUM wealth manager?
A fee-only financial advisor is paid directly by the client — a flat fee, an hourly rate or a project fee — and earns no commission on products sold and no percentage of assets managed. A percentage-of-AUM wealth manager charges roughly 1–2% of your portfolio every year and usually also takes custody and executes the trades. This practice is fee-only and project-priced: €750 once, no commission, no AUM fee, no custody.
Is there a flat-fee alternative to a percentage-of-assets wealth manager in Europe?
Yes. The structural alternative is a defined-scope, flat-fee engagement: a portfolio architect builds the strategic allocation and writes the Investment Policy Statement once, for a fixed price, and the investor implements it and keeps custody at their own broker. This is that model, built specifically for cross-border and non-US-resident investors in Europe and beyond.
Can I get fee-only financial advice as an expat or non-US resident?
Yes — this practice is built specifically for that case. US-resident clients are not accepted, and the structural work assumes a cross-border, non-US-resident situation as the default rather than an edge case: UCITS fund domicile, accumulating versus distributing share classes, US estate-tax exposure on US-situs assets, and withholding treatment on distributions. Residents of Finland, Sweden, Norway, Denmark, Iceland and Poland are the stated exception.
Who actually writes the Investment Policy Statement?
Anton Ladnyi, CFA, personally — there is no team, no junior analyst and no relationship-manager handoff. The allocation is built using Black-Litterman estimation, Ledoit-Wolf covariance shrinkage and Monte Carlo simulation, then written up as your personal investment mandate. The person who builds the mandate is the person on the call with you.
What is the difference between this and ongoing financial planning?
Ongoing financial planning is a continuing relationship — recurring reviews, recurring advice and, usually, a recurring fee. This is a single defined-scope engagement that produces one written deliverable and then ends, unless you choose to re-engage later. It resolves a specific structural decision once; it is not a substitute for an ongoing adviser relationship if that is genuinely what you want.
Still the right question: is this worth €750 for you?
Fifteen minutes, free, no card, and a direct answer either way.
Book a free 15-minute fit call
A.L. Capital Advisory / Sample report

Investment Policy Statement

Page 1 of 6
Open the full sample PDF
€750 once
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