About Us | Discipline Funds
Aligned. Simple. Disciplined.

We align portfolios with people, not predictions.

Discipline Funds is an investment advisory firm founded on a straightforward idea: investing works best when it’s matched to real-world time horizons. Our Defined Duration approach focuses every decision on what matters most—your needs over time—so portfolios are simple, durable, and easier to stick with. We work with advisors, institutions and retail investors to help align financial processes and goals.

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What We Do

Defined Duration Investing
1

Align to Time

We map assets to specific time buckets (near-term, intermediate, long-term) so your portfolio stays anchored to when you actually need the money.

2

Simplify Decisions

Clarity reduces the temptation to over-trade. Our tools and ETFs promote consistent, rules-based decisions you can stick with.

3

Engineer Durability

By quantifying time and risk up front, we help investors manage drawdowns and sequence risk—before markets test resolve.

Our Approach

Process over Prediction

The future of financial planning is here. Asset-liability matching strategies used to be exclusive to large institutions. Through the Defined Duration methodology we're bringing ALM strategies to advisors and retail investors.

  • Time Buckets: 0–3 years (liquidity & stability), 3–7 years (balance & preservation), 7–15 years (growth with resilience), 15+ years (long-horizon growth).
  • Planning-based: Holistic financial planning is our core. We match financial plans with investment goals to achieve financial success.
  • Quantitative process: HourglassFP and other software tools help quantify needs and map them to portfolio sleeves.
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By the Numbers

We're growing!
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Assets Under Management ($USD)*
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Defined Duration ETFs
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Years of Financial Advisory and Portfolio Management Experience

* Includes discretionary and non-discretionary AUM.

Our Story

From research to real-world tools
2005–2012
Mr. Roche manages Orsus Investments to 20% annual gross returns per year using the now-documented “overnight effect”.
2012–2015
Mr. Roche's Pragmatic Capitalism website surges to 2 million+ monthly readers as research published on the site fuels a first-principles approach to money, finance and economics. “Understanding the Modern Monetary System” and the book Pragmatic Capitalism help codify this methodology as Mr. Roche develops the first iteration of his asset-liability matching strategies to help banks navigate the post-financial crisis world.
2015–2021
Orcam Financial Group is founded to help high net worth investors implement time-weighted asset-liability matching via Countercyclical Indexing.
2021–Present
Discipline Funds launches an ETF platform and HourglassFP—a suite of planning tools centered on Defined Duration asset-liability matching, helping to bring ALM strategies to financial advisors and retail investors.

Leadership

People behind the process
Cullen Roche
Founder & Chief Investment Officer

Cullen founded Discipline Funds to help investors build portfolios that improve their lives through better alignment with real-world goals. His extensive experience with instutions and banks helped bring the Defined Duration asset-liability matching strategy to Main Street. In addition to being the Founder of the firm Cullen is a best-selling author and board member at Cambria Investments. But most importantly, he's a proud husband and father.

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Erica Fries
Chief Executive Officer

Erica is one of the countries foremost experts in the field of forensic accounting. As a certified fraud examiner she has a keen eye for detail and operational efficiencies. She helps oversee financial planning at the firm in addition to managing every day operations for the Discipline Funds team.

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