¹ Institutional Investment Consulting is a non-discretionary investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated available to institutions with $20 million or more in assets.

 

² The client is responsible for the acceptance and final adoption of the IPS. 

 

³ Merrill Lynch Investment Advisory Program (IAP) is an investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MPLFS” or “Merrill”).

 

⁴ Defined Benefit Discretionary (OCIO) is an investment advisory service sponsored by Merrill Lynch, available in either an advisory model or full discretionary model.

 

⁵ Institutional Investments & Philanthropic Solutions (“II&PS”) is part of Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (“BofA Corp.”). Trust and fiduciary services and other banking products are provided 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 Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”).

 

⁶ Philanthropic Discretionary Investment Management (OCIO) offered through Bank of America Private Bank. Bank of America will act as a co-fiduciary for investment management and will manage plan assets consistently with the duties and standards established under ERISA.

 

⁷ Institutional Investor magazine announced BofA Global Research as one of the Top Global Research Firms in 2022 based on surveys held throughout the year. The magazine creates rankings of the top research analysts in a wide variety of specializations, drawn from the choices of portfolio managers and other investment professionals at more than 1,000 firms. BofA Global Research is research produced by BofA Securities, Inc (“BofAS”) and/or one or more of its affiliates. BofAS is a registered broker-dealer, Member SIPC, and wholly owned subsidiary of Bank of America Corporation. Learn more about the methodology at Institutional Investor. Rankings and recognition from Institutional Investor are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.

 

⁸ 2021 Bank of America Annual report. 

 

⁹ Bankofamerica.com.

 

¹⁰ Number approximate as of September 2023.

¹¹ The Barron’s “Top 100 Institutional Consulting Teams” list. Published on April 14, 2023. Rankings based on data as of December 31, 2022. Opinions are Barron’s who evaluated advisors with a minimum of seven years financial services experience and employed at their current firm for at least one year. Other quantitative and qualitative measures include assets under management, quality of practice, regulatory records, internal company documents and 100-plus points of advisor-provided data. Rankings do not reflect any client experience, endorse any advisor and are available for client evaluation only. Compensation was not received from any Advisors for the study. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. In 2023, 28 MIC advisors (across 18 MIC teams) were named on a list of 100 teams.

 

¹² The Barron's “Top 1,200 Financial Advisors" list. Published on March 10, 2024. Rankings based on data as of September 30, 2023. The Barron's “Top 1,200 Financial Advisors" ranking considered advisors with a minimum of seven years financial services experience and have been employed at their current firm for at least one year. This is a list of the top advisors in each state, with the number of ranking spots determined by each state's population and wealth. Other quantitative and qualitative measures include assets under management, revenues generated by advisors for their firms, and the quality of the advisors' practices, regulatory records, internal company documents, and 100-plus points of data provided by the advisors themselves. Rankings are based on the opinions of Barron's and not representative nor indicative of any one client's experience, future performance, or investment outcome and should not be construed as an endorsement of the advisor. Barron's does not receive compensation from advisors, participating firms and their affiliates, or the media in exchange for rankings. Rankings and recognition from Barron's are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results, and such rankings should not be construed as an endorsement of the advisor. Barron's is a trademark of Dow Jones & Company, Inc. All rights reserved.​ In 2024, 31 MIC advisors were named on a list of 1,200.

 

¹³ 2023 Barron’s “Top 100 Financial Advisors” list. Published on April 14, 2023. Rankings based on data as of December 31, 2022. Opinions are Barron’s who evaluated advisors with a minimum of seven years financial services experience and employed at their current firm for at least one year. Other quantitative and qualitative measures include assets under management, quality of practice, regulatory records, internal company documents and 100-plus points of advisor-provided data. Rankings do not reflect any client experience, endorse any advisor and are available for client evaluation only. Compensation was not received from any Advisors for the study. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. In 2023, two MIC advisors were named on a list of 100.

 

¹⁴ 2023 Barron’s “Top 100 Women Financial Advisors” list. Published on June 16, 2023. Rankings based on data as of March 31, 2023. Opinions are Barron’s who evaluated advisors with a minimum of seven years financial services experience and employed at their current firm for at least one year. Other quantitative and qualitative measures include assets under management, quality of practice, regulatory records, internal company documents, among other data points. Rankings do not reflect any client experience, endorse any advisor and are available for client evaluation only. Compensation was not received from any Advisors for the study. Barron’s is a trademark of Dow Jones & Company, Inc. All rights reserved. In 2023, two MIC advisors were named on a list of 100.

 

¹⁵ 2023 Barron’s “Top 100 Private Wealth Management Teams” list. Published on April 14, 2023. Rankings based on data as of December 31, 2022. Opinions are Barron’s who evaluated advisors with a minimum of seven years financial services experience and employed at their current firm for at least one year. Other quantitative and qualitative measures include assets under management, quality of practice, regulatory records, internal company documents and 100-plus points of advisor-provided data. Rankings do not reflect any client experience, endorse any advisor and are available for client evaluation only. Compensation was not received from any Advisors for the study. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. In 2023, two MIC advisor teams were named on a list of 100.

 

¹⁶ CFA® and Chartered Financial Analyst® are registered trademarks of the CFA Institute. Investments & Wealth Institute (IWI) 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 IWI’s initial and ongoing credentialing requirements for investment management consultants.