Hyperion Financial Management Client |TOP| Download

Oracle Hyperion Financial Management software is a comprehensive, Web-based financial systems software application that delivers global collection reporting and analysis in a single, highly scalable financial management software solution. Financial Management utilizes today's most advanced technology, yet is built to be owned and maintained by the enterprise's finance team.

In today's rapidly changing Corporate environment, a client's organizational structure is more regularly being updated. Hyperion Financial Management (HFM) , while one of the most intuitive and powerful tools in the market for Financial Consolidation and Reporting, also has a very flexible model in being able to adapt to an ever changing environment. HFM's "Custom Dimension" model allows the company to report on key management metrics, while also providing the critical regulatory reporting required for USGAAP and the SEC. In addition, it is one of the leading SOX compliance ready tools in the Financial Consolidation market, with its powerful Process Management tool, where validation and approval of data has never been easier or more comprehensive.

Hyperion Financial Management Client Download

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Hyperion Financial Management (HFM) runs off a standard relational database management platform, and will accommodate metadata and data from any source through ETL tools, Data Mapping tools (such as Financial Data Quality Management ), delimited text, direct input (through a variety of out-of-box and custom built data grids and forms), or through the audit-ready and compliant Journals module. Hyperion Financial Management (HFM) uses advanced sub-cube processing technology to be able to process, consolidate and report your data in a very efficient and timely manner, insuring accurate financials and instant access to your reporting.

William Escobar: As a Hyperion-certified consultant, Bill has 20+ years of EPM accounting experience specializing in intercompany, currency translation, SEC reporting, budgeting & planning, and financial reporting. He has bast experience in financial statement consolidations and specializes in HFM and FDM. As a past employee of Hyperion and their partners, Bill has participated in over 20 HFM implementations at various domestic and international clients and is bilingual in English and Spanish.

Mark is a Project Manager / Principal EPM Consultant with over 20 years experience, He has had significant client management responsibilities to ensure successful project completion and client satisfaction. Areas of specialty include project management, business analysis, and product specific implementation expertise in the full Hyperion suite of products and Oracle financial modules.

Hyperion Software, now known as Oracle Hyperion after its acquisition by Oracle Corporation, constitutes a comprehensive suite of financial management solutions, including Hyperion Financial Management (HFM), Hyperion Planning, and Oracle Hyperion Enterprise.

Many organizations widely use the modules for financial consolidation, reporting, planning, and analysis.

Oracle targets large enterprises with complex financial structures and a need for comprehensive performance management solutions. These organizations may have multiple business units, international operations, and a substantial volume of financial data to manage.

Based on business process: Complex Financial Processes

Companies with intricate financial processes, including those dealing with multiple currencies, diverse regulatory environments, and complex organizational structures, tend to choose OneStream for its comprehensive and integrated approach to financial management.

Financial Services and Insurance Companies:

These organizations leverage OneStream for efficient financial reporting, compliance management, and risk assessment, given the stringent regulatory requirements in the financial sector.

My guest on today's podcast is Michael Hartman. Michael is the founder of Hyperion Financial, an independent RIA based in Shillington, Pennsylvania, that oversees almost $60 million in assets under management for 75 client households.

Michael H.: Sure. So, name of the RIA is Hyperion Financial. We launched on Memorial Day of 2021. There are three team members, including myself. And by way of the way we measure things, primarily an AUM business. So, we've got approaching $60 million of assets under management here for 75 client households. We do have a subset of clients, in addition to those 75, that are strictly investment management clients, and that's primarily because of the book of business that we had purchased prior to this transition. But, yeah, that's how we sit today.

Michael K.: Okay. And so what's the nature of the practice today in terms of just what do you do for clients at this point? You mentioned some are strictly investment management, so I'm presuming that means the rest are more financial planning-oriented. But what do you do for clients at Hyperion?

Michael H.: Yeah. I think probably not too dissimilar to most folks. We go by the term "comprehensive financial planning," like I'm sure a lot of us do. And it's everything from retirement income planning, tax planning. We've got clients really across the spectrum, so we're helping them plan for their kids' education, we're helping pay off student loans, buy houses, plan Social Security timing, Medicare, all that kind of stuff. So, really across the gamut, we try and hit just about everything. Amongst the three of us, there are two of us which are primarily lead advisors, myself and Dan. So, we've got a pretty wide array of clients.

Michael H.: Yeah. We really try and lead everything with financial planning at this point. So, the way we describe it to clients is our minimum fee is $3,750, and that's for financial planning. What we do though is, because we do give them the option to manage their investments, in doing so, the way we explain it to clients, is that if we are managing the investments, that fee that we're collecting to do so helps offset that $3,750 minimum planning fee.

So, it's very much positioned in a way of financial planning, so that especially the non-retirees, the younger clients that really aren't...the planning isn't being driven so much by their assets, they definitely understand that it's financial planning at the forefront of what we do.

And then on the financial planning side of things, certainly I've read a lot of what you've wrote about valuing your time and trying to map all that out. And I think just some back-of-the-envelope math. I think the way we figured out, just with the amount of planning work that we're doing throughout the year with a client and what that adds up to from an hourly standpoint, we came out somewhere in the ballpark of $200 to $250 an hour for our time. Again, for the average client based off of typically two to three meetings a year, the stuff that comes up throughout the year. And then, again, all the financial planning work that we're doing up front, and then ongoing. That's really how we settled on that number. But it's certainly a work in progress, we're constantly evaluating whether that number should be changed.

So, Michael, you've got the client service calendar that sets out the stuff that you're going to do. It sounds like that forms the baseline of what you're doing. Client meetings occur, on average, twice a year, with a surge meeting structure. And then investment management is happening on an ongoing basis for whatever assets you're managing for them, as well.

We have on there liability limits for insurance policies, also insurance coverage amounts. And it's just something that's become really instrumental for us in...when we're running these meetings, to be able to look at it and say, "Okay, here's what the client's financial situation looks like." And the benefit, I think, for them moving forward is one of the things we do track on there is net worth.

Michael K.: So, it sounds like this is kind of one-page financial plan-esque, but you're calling it a snapshot. And it's not necessarily the upfront financial planning process deliverable, this is your ongoing client check-in deliverable anchor document.

Michael K.: All right, awesome. So, if anyone is curious to see the one-page financial snapshot, as well, this is episode 269. So, again, kitces.com/269. And we'll have some links out for samples of what Michael's client service calendar and financial snapshot look like.

Michael H.: Yeah. I'm not going to claim to be an eMoney expert per se. So, if there's a better way to do it, I'm all ears. It's definitely a very manual process that we've done here. But for us, when we're using financial planning software, it's very much for us...the features that we're using, I should say, are certainly the account aggregation tools. The Vault is a critical part of the process because that's how we're sharing confidential information and all that kind of stuff. And then we are using, especially for the younger clients, the spending tab of eMoney to set them up with a budget and track spending. Those are some of the features that we use heavily.

Michael K.: So, are there other deliverables that you tend to bring into surge meetings? You mentioned beneficiary checklist in the fall surge, you mentioned financial snapshots. It sounds like you do...every client every meeting you do an update to the snapshot, which I guess is just pull out the existing snapshot and change the numbers that have changed. So, are there other deliverables that you're leveraging, as well, or is that your primary ones, your primary go-tos?

Michael H.: Yeah, the irony is certainly not lost on me, I've gotten quite a few eyebrow raises on that one. But one of the things I knew at the time, based on my conversations with Bruce, the retiring advisor, I knew...with the conversations with him and also conversations with the clients, that the relationship...he had great relationship with his clients, he's a great advisor, but financial planning really wasn't part of that relationship, it was very much more investment-driven, or insurance-driven if there was an insurance policy in place. e24fc04721