Ellison Kibler & Associates. Wealth Management

Transcription

1 Ellison Kibler & Associates Wealth Management

2 Thank you for considering Ellison Kibler & Associates. For more than 25 years we have built our reputation by providing wealth management advice and guidance to some of the most affluent individual and institutional clients in the country. We have built strong relationships with clients through an unwavering commitment to their key interests built on a foundation of professionalism and experience. We formed Ellison Kibler & Associates in 1983 with the goal of providing a remarkable wealth management experience and unsurpassed client service to affluent families, corporations, endowments and foundations. Today, from our bases in Columbia, South Carolina and Charlotte, North Carolina, our team brings you the worldwide resources of the investment insights of Merrill Lynch and the banking convenience of Bank of America, coupled with our high-touch, custom-fit client service experience. We are confident you ll find that this is a powerful combination. Sincerely, Ellison Kibler & Associates Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S), a registered broker-dealer and member SIPC, and other subsidiaries of Bank of America Corporation (BofA Corp.). Bank of America Merrill Lynch is a brand name used by several BofA Corp. businesses, including, but not limited to, Global Institutional Consulting, which offers products and services for the benefit of institutional and ultra high net worth clients. Global Institutional Consulting (GIC) is part of the Global Wealth and Retirement Services business of BofA Corp. Institutional Investments & Philanthropic Solutions (Philanthropic Solutions) is part of U.S. Trust, which operates through Bank of America, N.A., member FDIC, and other subsidiaries of BofA Corp. For both GIC and Philanthropic Solutions, banking and fiduciary activities are performed by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A. Both brokerage and investment advisory services are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated, a registered broker-dealer, Member Securities Investor Protection Corporation (SIPC) and registered investment adviser. Global Institutional Consultants mentioned herein are registered representatives with MLPF&S. Banking products are provided by Bank of America, N.A., and affiliated banks, members Federal Deposit Insurance Corporation (FDIC) and wholly owned subsidiaries of Bank of America Corporation. Investment products offered through MLPF&S and insurance and annuity products offered through Merrill Lynch Life Agency Inc.: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value Are Not Deposits Are Not Insured by Any Federal Government Agency Are Not a Condition to Any Banking Service or Activity MLPF&S is a registered broker-dealer, registered investment adviser and member SIPC. Merrill Lynch Life Agency Inc. is a licensed insurance agency. Both are wholly owned subsidiaries of BofA Corp. Merrill Lynch makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of BofA Corp. or in which BofA Corp. has a substantial economic interest, including BofA TM Global Capital Management.

3 Ellison Kibler & Associates Wealth Management 1224 Sumter Street Columbia, South Carolina Phone: North College Street Charlotte, North Carolina Phone: Toll-free: n Fax: n [email protected] n Web site: 3

4 PHILOSOPHY Client focus The client is our singular focus. We have developed a culture in which every member of our team recognizes and embraces this core principle. Personal Attention We focus on understanding clients goals and objectives so that we can help them develop a targeted, customized strategy. Once they have implemented the strategy, we monitor results to track progress toward their goals. Outstanding Service As a client, you will have a dedicated four-person wealth management team, with each member having a specific role and skill set. You will be served by a wealth management advisor, a financial advisor or investment associate and two client associates. In addition, we will consult with specialists within Merrill Lynch to provide support for tax minimization and estate planning services, and specialists within Bank of America to provide banking, credit and lending services. Tailored Portfolios Members of the Ellison Kibler & Associates asset management committee meet weekly to review the micro- and macroeconomic landscape and discuss potential changes to suggest to clients. We have access to some of the best research on Wall Street through BofA Merrill Lynch Global Research, covering literally thousands of investment opportunities. We monitor clients portfolios regularly and use sophisticated trading methods and computer models to help you move toward your goals. Ellison Kibler & Associates Awards Barron s named J. Hagood Ellison and E. Robertson Kibler to its prestigious 2014 Top 1,200 Financial Advisors list, ranking them both in the Top 10 for South Carolina. J. Hagood Ellison Jr. and E. Robertson Kibler were chosen as Barron s Top 1,000 Financial Advisors for five consecutive years, from 2009 to They were No. 1 and No. 2 in South Carolina, respectively, in

5 We bring you knowledge and wisdom Ellison Kibler & Associates financial advisors have more than 110 years of combined experience working together. We have navigated the markets for clients since 1983 and have the wisdom from that experience to apply to clients investments. 5

6 WEALTH Disciplined wealth management At Ellison Kibler & Associates, the largest part of our business is offering wealth management strategies to affluent individuals and families for their consideration. The clients we work with come from all walks of life: business owners, professionals, corporate executives and philanthropists. Our first step is to help you articulate and define your specific goals. Whether it is retirement, education savings for children or grandchildren, estate planning services or philanthropic objectives, this kind of specific goal-setting is critical to developing an appropriate strategy. Once your goals are clearly articulated, we help you implement your investment strategy. This process includes a thorough review of assets and liabilities, as well as an intensive understanding of your comfort level with risk. Our experience has shown that risk management within an investment portfolio is a key driver of long-term investment performance. From implementation forward, we monitor the portfolio, as well as your progress toward pursuing your goals. Through sophisticated tools such as probabilistic modeling, we are able to recommend adjustments as the market and economic environments dictate. For the sixth consecutive year, since 2009, Merrill Lynch ranked highest for financial advisors recognized by Barron s. In total, 313 Merrill Lynch advisors were included on the Barron s Top 1,200 Advisors: State-by-State list this year: 225 financial advisors and 88 private wealth advisors, with 11 advisors being top in their state. 1 BofA Merrill Lynch Global Research named Number One Global Research Firm for the third straight year (2011,2012 and 2013). 2 Bank of America Merrill Lynch serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and nearly 96 percent of the Global Fortune Bank of America and Merrill Lynch Accolades Global Corporate Banking delivers corporate finance, treasury, debt and risk management products to 80 percent of Global Fortune 500 and 99 percent of U.S. Fortune 500 corporations, along with multinational companies, financial institutions and governments. 4 1 Barron s, February 22, Institutional Investor, December 12, As of February 7, As of February 7,

7 Real world wealth management We recently began working with a managing director at a major banking institution. While capable of handling his own investments, he determined that he was unable to give them the attention they deserved. Like other executives of Fortune 500 companies and professionals we have seen over the years, diversifying the concentrated holdings of his pay package was his biggest portfolio challenge. We helped him craft an investment approach designed to manage the overall risk of the restricted equity portion of his compensation.* *Case studies are intended to illustrate brokerage and banking products and services available at Merrill Lynch. You should not consider these as an endorsement of Merrill Lynch as an investment advisor or as a testimonial about a client s experiences with us as an investment advisor. Case Studies do not necessarily represent the experiences of other clients, nor do they indicate future performance. Investment results may vary. The investment strategies presented are not appropriate for every investor and should be considered given a person s investment objectives, financial situation and particular needs. Clients should review with their Merrill Lynch financial advisor the terms, conditions and risks involved with specific products and services. 7

8 INSTITUTIONS Servicing corporate retirement plans Ellison Kibler & Associates offers a wide variety of retirement plan administrative services to corporate clients. We currently service more than 70 retirement plans for a diverse group of public and private clients, including physician practices, manufacturing companies, law firms, architecture and engineering firms, and service firms. Stuart Paulk focuses on retirement plans for the team. He coordinates plan sponsor services as well as educating and providing service to plan participants. We use the same high-touch, high-level service model for retirement plan clients that we do for individuals. 8

9 Helping employees prepare for the future In early 2010, we met with some executives in the manufacturing industry regarding their company s 401(k) plan, which was administered by a large mutual fund company. They said they were struggling with low participation, few investment options and mediocre service. Through the input of a representative group of their employees, we assessed their needs and created a custom participant-education program. 9

10 ENDOWMENTS & FOUNDATIONS Providing dedicated collaboration for philanthropy Philanthropy continues to be a goal for many wealthy individuals and companies. Often, this results in the formation of charitable foundations or endowments. Since 1985, we have provided investment services to a wide range of nonprofit organizations, including family, educational and hospital foundations, as well as other public and private foundations. Many turn to Ellison Kibler & Associates to help them invest their assets and manage their endowments. We have the skills to assist them as they balance risk and reward with the demands of their organizations. We can also access the investment insights of Merrill Lynch and the banking convenience of Bank of America. Through the vast resources of one of the world s largest financial companies, we assist nonprofits in investment policy creation and modification, asset allocation modeling and implementation, investment and manager search and selection, and regular monitoring. 10

11 Helping nonprofits pursue their goals A local nonprofit was the beneficiary of a significant bequest in the mid-1990s and needed assistance in establishing an endowment. Bud Kibler, accessing the resources of Institutional Investments & Philanthropic Solutions, worked with the organization s finance committee to help the nonprofit draft an investment policy, establish an asset allocation and conduct investment manager searches. We ve continued to work with the organization for more than 15 years. 11

12 INVESTMENTS Flexible investment platform The open investment platform we use at Merrill Lynch allows us to offer a vast array of potential tactics. Whether for individuals, trusts or institutions, we can make well-considered recommendations for allocating among equities, fixedincome, real estate, commodities, private equity and other alternative investments. Our approach is scalable and nimble, able to respond quickly to market opportunities as needed. It is an approach based on these key components: Investment evaluation When making portfolio recommendations, we carefully consider a range of investments based on their risk, price and utility toward your goals, risk tolerance, liquidity needs and time horizon. Portfolio discipline By setting well-defined parameters for each client, the goal is to seek the potential for upside gains, while simultaneously working to mitigate the impact of adverse market conditions. Also, where suitable, we may recommend third-party money managers, carefully researched and vetted by Merrill Lynch for their style and track record. We monitor their performance, keeping your objectives for those assets in mind. Research Our team makes extensive use of BofA Merrill Lynch Global Research and thought leadership from other sources. We have access to an extraordinary range of in-depth industry, market and country-specific data. 12

13 A focus on you In developing and discussing various wealth management strategies with clients, one principle that drives these interactions is suitability. We ask and ask again, What is the appropriate, customized course of action for this client? Does this fit with their individual financial personality? There s no master catalog of strategies and tactics; the work we do is tailored for you and your financial situation. It takes into account where you are now, your tolerance for risk, and where you see yourself and your family in 5, 10 or 20 years. 13

14 CAPABILITIES How we help you monitor your financial life For the key aspects of your financial life, Ellison Kibler & Associates can bring you access to the banking convenience of Bank of America and the investment insights of Merrill Lynch, one of the largest wealth management organizations in the world. A broad range of capabilities designed to build and enrich your financial life ADVICE AND PLANNING n Goals-Based Wealth Management Process n Education Planning n Industry-Leading Research n Tax Minimization Strategies n Investment Personality Assessment n Comprehensive Financial Planning RETIREMENT BANKING CREDIT AND LENDING ESTATE PLANNING SERVICES n Managing Income in Retirement Managing Job Transition n n Planning for Retirement Health Care Expense Planning n n Retirement Outcome n Everyday Cash Management Savings Products n n Credit Cards Home Financing Home Equity Financing n n n Securities-Based Financing n Charitable Giving Insurance Private Family Foundations n n n Trusts Donor-Advised Funds n n Alternative Investments n Concentrated Stock Services INVESTMENTS SOLUTIONS FOR BUSINESS TRACKING PROGRESS n Equity and Fixed-Income Strategies Managed Account Programs n n Market-Linked Investments Unit Investment Trusts Closed-End Funds n n n Liquidity & Cash Management Financing Retirement Solutions n n n Succession Planning n Asset Information and Measurement Client Review MyMerrill.com n n n Wealth Outlook Performance Online n Investment Products are offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated. Banking Products are offered by Bank of America, N.A. 14

15 MEET OUR TEAM J. Hagood Ellison Jr. MANAGING DIRECTOR WEALTH MANAGEMENT WEALTH MANAGEMENT ADVISOR PORTFOLIO MANAGER Hagood joined Merrill Lynch in He focuses on investments, income management and retirement strategies for the group. He was named to the Barron s list of Top 1,200 Financial Advisors in 2014 and to the list of Top 1,000 Financial Advisors every year from 2009 to He earned his MBA at the University of South Carolina, and his bachelor s degree in political science at Washington and Lee University in Lexington, Virginia. A trustee of Washington and Lee University, he lives with his wife, Cis, in Columbia, South Carolina. Hagood has served on the board of the Columbia Museum of Art and the Center for Cancer Treatment and Research, and serves now on the local board of the Boy Scouts. E. Robertson Kibler, CIMA MANAGING DIRECTOR WEALTH MANAGEMENT WEALTH MANAGEMENT ADVISOR PORTFOLIO MANAGER Bud Kibler is a founding team member of Ellison Kibler & Associates. He began his career with Merrill Lynch in He has served on Merrill Lynch s Advisory Council to Management (ACTM) and has conducted extensive training to Merrill Lynch financial advisors at the request of local directors. Barron s named Bud to its 2014 list of Top 1,200 Financial Advisors, and also named him as one of the Top 1,000 Financial Advisors in the country every year from 2009 to He is an advisory board member of the Merrill Lynch Institutional Consulting Group and provides coverage in the Southeast. Bud has earned the Certified Investment Management Analyst (CIMA ) designation. A native of South Carolina, Bud serves on the board for the Historic Columbia Foundation, ETV Endowment and Waller Capital Partners NY. He earned his bachelor s degree in finance from the University of South Carolina. Richard T. Migliore, CIMA, CRPC SENIOR VICE PRESIDENT WEALTH MANAGEMENT WEALTH MANAGEMENT ADVISOR PORTFOLIO MANAGER Rick began his career with Merrill Lynch in He serves as the managing team member of Ellison Kibler & Associates. He focuses on investment strategies for high-net-worth individuals, retirement plans and endowments and foundations. He serves as Chair of the Merrill Lynch Advisory Council to Management (ACTM), which assists senior management in strategic planning for the firm. Rick has trained Merrill Lynch financial advisors through the Peerto-Peer National Faculty program. He holds the Certified Investment Management Analyst (CIMA ) and Chartered Retirement Planning Counselor SM (CRPC ) designations. Rick graduated summa cum laude from the University of Kentucky with a bachelor s degree in finance. He serves on numerous charitable boards including the Columbia Jewish Day School and the Humane Society. Rick lives in Columbia, South Carolina, with his wife, Jill, and daughter, Lila. He is originally from Buffalo, New York. 15

16 Gordon R. Whittaker, CFP SENIOR VICE PRESIDENT WEALTH MANAGEMENT WEALTH MANAGEMENT ADVISOR PORTFOLIO MANAGER Gordon joined Merrill Lynch in 2003 after beginning his career at another brokerage firm. His focus within the group includes financial strategies and investment management for high-networth individuals. In addition to his client relationship management duties, Gordon has trained financial advisors across the country through the firm s Peer-to-Peer National Faculty program. He holds the CERTIFIED FINANCIAL PLANNER TM certification awarded by the Certified Financial Planner Board of Standards, Inc., as well as the Chartered Financial Consultant (ChFC ) designation. Gordon graduated from the University of South Carolina with a bachelor s degree in chemistry and resides in Blythewood, South Carolina, with his wife and two daughters. John F. DaWalt, CIMA, CRPC FIRST VICE PRESIDENT WEALTH MANAGEMENT WEALTH MANAGEMENT ADVISOR PORTFOLIO ADVISOR John entered the financial services industry in 2000 and joined Merrill Lynch in He focuses on investment strategies for high-net-worth individuals and retirement plans. John has earned the Certified Investment Management Analyst (CIMA ) and Chartered Retirement Planning Counselor SM (CRPC ) designations. He earned his bachelor s degree from the University of Wisconsin Stevens Point. John enjoys volunteering for the March of Dimes and Make-a-Wish organizations. He and his wife, Mandy, have two children and reside in Irmo, South Carolina. John M. McCardell SENIOR VICE PRESIDENT WEALTH MANAGEMENT SENIOR FINANCIAL ADVISOR John joined Merrill Lynch in 2004 after earning his bachelor s degree in business and economics at Randolph-Macon College in Ashland, Virginia. Within the team, John concentrates on wealth matters for executives serving private and public companies. He is the current vice chairman of the Randolph Macon President s Society and a member of its Board of Associates. John also currently serves on the board of the Columbia Museum of Art Contemporaries and is a mentor for Big Brothers/Big Sisters. He lives in Columbia, South Carolina. Ronald Dennis, CIMA SENIOR VICE PRESIDENT WEALTH MANAGEMENT WEALTH MANAGEMENT ADVISOR GLOBAL INSTITUTIONAL CONSULTANT 16 Ronnie focuses on serving the complex needs of wealthy families and captive insurance companies. He collaborates closely with clients on financial risk management, asset allocation policy and the implementation of tax minimizing investment strategies. He joined Merrill Lynch in 1994 and has spent his entire career at the firm. As a global institutional consultant, Ronnie works with a group of highly experienced Global Institutional Consulting specialists within Bank of America Merrill Lynch who focus on helping institutional clients pursue their unique and often complex investment needs. Ronnie holds the Certified Investment Management Analyst (CIMA ) designation, and he earned a bachelor s degree in finance and real estate from the University of South Carolina. His outside interests include reading, running, bird hunting and offshore fishing.

17 Karen M. Alessi, CRPC INVESTMENT ASSOCIATE Karen joined Merrill Lynch in 1987 after graduating from the University of South Carolina with a bachelor s degree in finance. She concentrates on wealth management strategies, income management and retirement solutions for individuals. She also focuses on fixed-income opportunities for the team. Karen holds the Chartered Retirement Planning Counselor SM (CRPC ) designation. She lives in Columbia, South Carolina, with her husband, Brian, and sons, Aaron and Tony. W. Stuart Paulk INVESTMENT ASSOCIATE Stuart joined Merrill Lynch in 2002 after he earned his bachelor s degree in biology at the University of South Carolina. He focuses primarily on servicing the group s corporate retirement accounts. Prior to coming to Merrill Lynch, he was a plan administrator with a third-party administrator in Columbia, South Carolina, for six years. He volunteers for Habitat for Humanity and lives with his wife, K.C., and children, Carson and Ethan, in Columbia, South Carolina. Laura R. Williams, CIMA REGISTERED SENIOR CLIENT ASSOCIATE Laura joined Merrill Lynch in 1995 after earning her bachelor s degree in finance at the University of South Carolina. She supports the team s financial advisors in trading aspects of implementing investing strategies and investment allocation. She also assists with portfolio monitoring. Laura holds the Certified Investment Management Analyst (CIMA ) designation. She serves on the Ellison Kibler Asset Management Committee. Laura resides in Columbia, South Carolina, with her husband, Clay. Aaron K. Rowland REGISTERED SENIOR CLIENT ASSOCIATE Aaron joined Merrill Lynch in 1998 after a five-year career in banking. He attended the University of South Carolina where he majored in business marketing and management, and minored in music education and vocal performance. He assists the group on numerous aspects of client services and relationship management. He lives in Columbia, South Carolina, with his wife, Melissa, and daughter, Emma Marie. Amanda B. Turner REGISTERED SENIOR CLIENT ASSOCIATE Mandi began her career at Merrill Lynch in 2001 after graduating cum laude from the University of South Carolina with a bachelor s degree in marketing and management. Her focus is to provide high-level service to clients. Mandi assists the team with complex concentrated stock transactions such as Rule 144 and Section 10b5-1 plans. In addition, Mandi is experienced at providing a high level of service to clients such as public and private not-for-profit endowments and foundations, as well as complex family trusts. She was recently selected to serve as a client associate faculty member to train her peers nationally. She lives in Columbia, South Carolina, with her twin daughters, Lillie and Mary Cam. 17

18 Cathy H. Greenwood REGISTERED SENIOR CLIENT ASSOCIATE Cathy began her career at Merrill Lynch in 2000 with three years of previous financial services experience. She is responsible for the coordination and implementation of team-based initiatives. She also administers portfolio trading activity and monitors the team s syndicate strategy. Cathy earned her bachelor s degree in finance and management from the University of South Carolina. Cathy resides in Columbia, South Carolina, with her husband, Shaun. Angie P. Douglas REGISTERED SENIOR CLIENT ASSOCIATE Angie joined Merrill Lynch in 2006 after earning her bachelor s degree in finance from the University of South Carolina. She assists with all client service items and plays an integral role in the thought leadership related to that aspect of the group s work. Additionally, she focuses on the administration of corporate stock plans, Rule 144 equity transactions and 10b5-1 plan implementation and administration for corporate executives. Angie also monitors a number of complex family trusts. She lives with her husband, William, and daughter, Emmie, in Columbia, South Carolina. Robert D. Forsyth Jr. REGISTERED CLIENT ASSOCIATE Robert joined Merrill Lynch in 2010 with seven years of previous financial services experience. He earned a bachelor s degree in business administration from the University of Florida. Robert assists the group with administrative duties, including account opening, account maintenance and report updating. He is an efficient problem-solver and dedicated to building client relationships and maintaining overall client satisfaction. Courtney L. Myers REGISTERED SENIOR CLIENT ASSOCIATE Courtney joined Merrill Lynch in 2009, after working at UBS Financial Services for five years. Courtney assists in the numerous aspects of client service and relationship management, including account opening and maintenance, records management and compliance matters. In addition, she is also experienced at providing high-level support to captive insurance clients and other complex corporate entities. Courtney lives in the Columbia area with her husband, Scott, and her daughter, Taylor. Amanda J. Millen CLIENT ASSOCIATE Amanda joined Merrill Lynch in 2014 after graduating from the University of South Carolina with a bachelor s in accounting and international business. As a client associate, Amanda s primary duties include providing support to the team s financial advisors and registered client associates, and preparing documentation for new client accounts. 18

19 Benjamin L. Covar ANALYST INVESTMENT Benjamin began his financial services career in 2004 and joined Merrill Lynch in He has extensive experience serving private clients and institutions, with a particular focus on asset allocation strategy, portfolio strategies and investment manager selection. He currently focuses on the team s asset allocation and investment process. He received his bachelor s degree and international MBA from the Darla Moore School of Business at the University of South Carolina. Christopher C. Leigh FINANCIAL ADVISOR GLOBAL INSTITUTIONAL CONSULTANT Chris works with the team to help clients develop captive insurance strategies. As a global institutional consultant, Chris works with a group of highly experienced Global Institutional Consulting specialists and others within Bank of America Merrill Lynch who focus on helping institutional clients pursue their unique and often complex investment needs. Prior to joining Merrill Lynch in 2014, Chris was an account manager with Marsh Management Services in Charleston. In this position, Chris handled financial reporting and transactional functions for a portfolio of pure captive insurance companies and risk retention groups, including clients in health care, construction, financial services and transportation & distribution industries, with a vast range of coverage. Chris has a bachelor s degree in accounting and business administration from the College of Charleston. His outside interest include traveling, college football, aquatic sports and biking. Zach Mahaffey REGISTERED CLIENT ASSOCIATE Zach joined Merrill Lynch in 2012 after graduating from the University of South Carolina with a bachelor s degree in finance and real estate. As a client associate, Zach supports the team s financial advisors by helping prepare presentations for investment proposals and reviews for current and prospective clients, and performing investment fund research. Melissa M. Spring REGISTERED CLIENT ASSOCIATE Melissa joined Merrill Lynch in 2012 after graduating from the University of South Carolina with a bachelor s degree in finance and marketing. Melissa s role is to support the financial advisors by helping prepare presentations for investment proposals and reviews for prospective and existing clients. 17

20 Ellison Kibler & Associates WEALTH MANAGEMENT 1224 Sumter Street Columbia, South Carolina Phone: North College Street Charlotte, North Carolina Phone: Toll-free: n Fax: n [email protected] n Web site: Investing involves risk. There is always the potential of losing money when you invest in securities. Diversification, asset allocation and rebalancing do not ensure a profit or protect against loss in declining markets. Neither Merrill Lynch nor its financial advisors provide tax, accounting or legal advice. Clients should review any planned financial transaction or arrangements that may have tax, accounting or legal implications with their personal professional advisors. Investing in fixed-income securities may involve certain risks, including the credit quality of individual issuers, possible prepayments, market or economic developments and yields and share price fluctuations due to changes in interest rates. When interest rates go up, bond prices typically drop, and vice versa. Merrill Lynch offers a broad range of brokerage, investment advisory (including financial planning) and other services. There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. It is important to understand the differences, particularly when determining a service or services to select. There are special risks associated with an investment in commodities, including market price fluctuations, regulatory changes, interest rate changes, credit risk, economic changes, and the impact of adverse political or financial factors. Alternative investments are intended for qualified and suitable investors only. Alternative Investments such as derivatives, hedge funds, private equity funds, and funds of funds can result in higher return potential but also higher loss potential. Changes in economic conditions or other circumstances may adversely affect your investments. Before you invest in alternative investments, you should consider your overall financial situation, how much money you have to invest, your need for liquidity, and your tolerance for risk. Alternative Investments are speculative and involve a high degree of risk. All guarantees and benefits of an insurance policy are backed by the claims-paying ability of the issuing insurance company. They are not backed by Merrill Lynch or its affiliates, nor do Merrill Lynch or its affiliates make any representations or guarantees regarding the claims-paying ability of the issuing insurance company. Barron s magazine, Feb. 16, 2013; Feb. 20, 2012; Feb. 21, 2011; Feb. 22, 2010; Feb. 9, 2009; Top 1,000 Advisors list. Advisors considered for the America s Top 1,000 Advisors: Stateby-State ranking have a minimum of seven years financial services experience and have been employed at their current firm for at least one year. Quantitative and qualitative measures used to determine the Advisor rankings include: client assets, return on assets, client satisfaction/retention, compliance records, and community involvement, among others. Barron s does not receive compensation from Advisors, participating firms and their affiliates, or the media in exchange for rankings. Barron s is a trademark of Dow Jones & Company, Inc. All rights reserved. Barron s magazine, Feb. 24, 2014, Top 1,200 Advisors list. Advisors considered for the America s Top 1,200 Advisors: State-by-State ranking have a minimum of seven years financial services experience and have been employed at their current firm for at least one year. Quantitative and qualitative measures used to determine the Advisor rankings include: client assets, return on assets, client satisfaction/retention, compliance records, and community involvement, among others. Barron s does not receive compensation from Advisors, participating firms and their affiliates, or the media in exchange for rankings. Barron s is a trademark of Dow Jones & Company, Inc. All rights reserved. Years prior to 2014, this Barron s list consisted of 1,000 advisors. Equity securities are subject to stock market fluctuations that occur in response to economic and business developments. Probabilistic (Monte Carlo) modeling is a statistical modeling technique in which a set of future outcomes are forecasted based on the variability or randomness associated with historical occurrences. A probabilistic approach may be used to determine the likelihood that you may be able to achieve your stated goals and to identify a range of potential wealth outcomes that could be realized. It involves generating thousands of scenarios, each simulating the growth of assets over a specified period of time, taking into account a variety of factors, such as economic conditions, the allocation of assets, portfolio value, cash flow and market volatility. Any information presented in connection with BofA Merrill Lynch Global Research is general in nature and is not intended to provide personal investment advice. The information does not take into account the specific investment objectives, financial situation and particular needs of any specific person who may receive it. Investors should understand that statements regarding future prospects may not be realized. The analysis presented is not a guarantee, prediction or projection of any particular result and your actual results may vary materially. Rather, this analysis is directional in nature and can be used to help you evaluate how certain decisions or strategies may impact your ability to achieve your goals. Institutional Investments & Philanthropic Solutions ( Philanthropic Solutions ) is part of U.S. Trust, Bank of America Private Wealth Management ( U.S. Trust ). U.S. Trust operates through Bank of America, N.A. and other subsidiaries of BofA Corp. Bank of America, N.A., member FDIC. Banking and fiduciary activities are performed by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A. Brokerage services may be performed by wholly owned brokerage affiliates of BofA Corp., including MLPF&S. L The Bull Symbol and Merrill Lynch are registered trademarks or trademarks of Bank of America Corporation. Merrill Lynch Institutional Consulting Group is a registered service mark of Bank of America. Investment Management Consultants Association (IMCA ) is the owner of the certification marks CIMA and Certified Investment Management Analyst. Use of CIMA and Certified Investment Management Analyst signifies that the user has successfully completed IMCA s initial and ongoing credentialing requirements for investment management consultants. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP, CERTIFIED FINANCIAL PLANNER, CFP (with plaque design) and CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board s initial and ongoing certification requirements. Chartered Retirement Planning Counselor SM and CRPC are registered service marks of the College for Financial Planning. Chartered Financial Consultant and ChFC are the property of The American College and may be used by individuals who have successfully completed the initial and ongoing certification requirements for this designation Bank of America Corporation. All rights reserved. MLWM _Brochure ARLT8SKD XX/2014