The Dunn-Dunne-Wall-Hegenbart Group

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Applying extensive investment knowledge and experience, we will work with you to develop a customized investment strategy to help your institution be more efficient and responsive in today’s evolving market.

We start with what’s important to you

We take the time to listen and learn about the needs and goals of your institution and the people it serves – it’s these real-world insights that guide our strategies and personalized service.

About Us

About Us

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For more than 30 years, The Dunn-Dunne-Wall-Hegenbart Group has dedicated itself to helping some of the most sophisticated institutions in the nation oversee their assets prudently and manage their businesses. Our investment consulting team is one of Bank of America Merrill Lynch's Global Institutional Consulting groups, which channel the resources and deep expertise resident at Bank of America Merrill Lynch to diverse groups of institutional clients. Our mission is to harness the power of one of the world's largest global financial firms on behalf of clients through an intimate client-consultant relationship.

In 2015, George Dunn, Peter Dunne and Bruce Wall were named to Barron's prestigious list of Top 25 Institutional Financial Advisors, in its inaugural appearance. They have also appeared on the 2016, 2017, and 2018 lists.

Drawing on the expertise of specialists throughout Bank of America & Merrill, we serve a wide array of institutional clients, including a number of tax-exempt charitable organizations:

  • Mission-based social services organizations
  • Religious Organizations
  • Trade associations and other industry associations
  • Hospitals and health care organizations
  • College and secondary school endowments
  • Public and private foundations
  • Community foundations
  • Defined-benefit pension plans
  • Defined-contribution plans
We also provide consulting and investment services to select families whose exceptional wealth demands institutional-quality investment and wealth management.

Underscoring every service we offer is the conviction that to be effective, investment strategies must be carefully integrated with an organization's strategic objectives, governance framework, investment policy and risk-management function. As such, we take the time to understand the broader challenges and goals of the organizations we serve before devising investment strategies for them.

George Dunn, Peter Dunne, Kathleen Hegenbart and Bruce Wall have a deep understanding of the needs of institutions, and they bring clients broad experience across several diverse client. segments. They completed the rigorous Global Institutional Consulting selection process administered by Bank of America Merrill Lynch, that included a deep review of their experience serving institutions and a comprehensive, multidimensional professional assessment process.

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"Each of us is passionate about strengthening, and growing clients' organizations, and helping these institutions fulfill their missions is very gratifying to us."
— George Dunn, CIMA®
MANAGING DIRECTOR
SENIOR CONSULTANT
GLOBAL INSTITUTIONAL CONSULTANT
 *Global Institutional Consulting (“GIC”) is part of the Global Wealth and Investment Management business of BofA Corp. 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 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. Banking activities may be performed by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A., member FDIC. Brokerage and investment advisory services are provided by wholly owned non-bank affiliates of BofA Corp., including Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”), a dually registered broker-dealer and investment adviser and member SIPC.

 

Our Approach

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We listen.
We educate. We help you make decisions that advance the goals of your organization. We assist and guide your institution's investment stewards in carrying out their fiduciary responsibilities.

We look at your organization as a whole. We work with both sides of your balance sheet. We believe that your investment policy should be in harmony with both the shorter- and longer-term goals of your institution. We help you to understand and measure how liabilities may impact the construction of your investment portfolio.

Our approach is hands-on. We seek to support and enhance the capabilities of the Investment Committee, the chief financial officer and the back office. We know how to integrate with your staff and key outside advisors.

  • For CFOs coping with tight operating budgets, we can serve as a valuable off-balance-sheet resource that can supplement internal resources.
  • For boards of trustees or investment committees, we offer in-depth analysis, strategic perspective, industry best practices and investment guidance. We are experienced in building consensus at the committee and board level, a skill that is important to almost every institution.
As a client, you will have access to a broad spectrum of solutions: traditional consulting, client-directed implementation, full discretionary authority—depending on your resources and desire to delegate.

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"A clear-cut investment process is essential to every nonprofit institution. Over time, organizations change, cash and spending needs change, and, of course, markets change. An Investment Policy Statement (IPS) has to be well written and should encompass the investment goals of the organization. An IPS should be reviewed frequently and modified if necessary to keep up with changing circumstances."
— Peter F. Dunne, CIMA®
MANAGING DIRECTOR
SENIOR FINANCIAL ADVISOR
GLOBAL INSTITUTIONAL CONSULTANT

 

Why Hire Us

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Experience:
 We have a long history advising nonprofit organizations. In 1985, George Dunn was a founder of the Investments & Wealth Institute™ and served as its president. In these roles, he helped develop the industry's benchmark certification program, Certified Investment Management Analyst®. He also helped found the Association of Professional Investment Consultants at Smith Barney.

Global Resources—Local Presence: Our team can marshal Bank of America Merrill Lynch's investing, research, capital markets and banking capabilities on behalf of clients. We offer sophisticated philanthropic solutions through Bank of America Private Bank.

A Holistic Approach: Our investment strategies don't begin and end with your investment portfolio. We identify the key issues facing your organization from the investment, governance and balance sheet perspective. We help CFOs and investment committees better assess their needs and more sharply define their goals, helping them make more informed decisions in the process.

Client Focus: We bring deep experience to the institutions we serve, but we never forget that no one has a better understanding of the challenges facing these organizations, than the people who lead them. This recognition manifests itself in the humility we bring to client relationships.

Actionable Advice: Our focus is on finding strategies, not just providing analysis. We believe our insights and thoughtful advice can help you make better decisions, while our experience and resources can be invaluable as we work together to implement those decisions. 

Valuable Support: The demands on nonprofits have never been greater. By leveraging our team's experience and resources, you can off-load the time-consuming tasks that may prevent you from focusing on the more strategic, higher-value initiatives that are central to meeting your goals.

Commitment: The mission of many clients is to help people spiritually, physically or economically. We are committed to helping people who lead organizations dedicated to bettering the lives of others. Put simply, we care about clients and the communities they serve.

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"We are investment professionals with a great deal of experience, so clients expect us to offer knowledgeable guidance.

We distinguish our work by giving clients the unexpected—by going beyond the portfolio. We are committed not only to delivering quality investment work, but also to supporting you as you seek to fulfill your institution's mission."

— Peter F. Dunne, CIMA®
MANAGING DIRECTOR
SENIOR FINANCIAL ADVISOR
GLOBAL INSTITUTIONAL CONSULTANT



*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.

BofA Merrill Lynch Global Research is equity research produced by BofA Securities, Inc. (“BofAS”) and/or one or more of its affiliates. BofA Merrill Lynch Global Research does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. 


Meet the Group

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George, Peter, Kathleen and Bruce are joined by a group of professionals with extensive experience in financial services and in-depth knowledge of the structure and capabilities of Merrill Lynch Wealth Management and banking products of Bank of America. As such, the team is well-positioned to deliver the many benefits a relationship with Merrill Lynch Wealth Management can bring to your organization.

Additional Resources

The Dunn-Dunne-Wall-Hegenbart Group is supported by talented specialists who have experience working with institutions and share a strong commitment to guiding investment programs and strategic decision making.

Recognition

Merrill is proud of our advisors who’ve received recognition from industry publications. We believe they are setting the standard for exemplary client service.

George Dunn

Barron’s Top 1,200 Financial Advisors in Object reference not set to an instance of an object.

Barron’s “Top 30 Institutional Consultants” 2015-201

Barron’s 2018 “America’s Top 1,200 Financial Advisors: State-by-State”

Barron’s “Top 50 Institutional Consultants” 2018

Peter F Dunne

Barron’s Top 1,200 Financial Advisors in Object reference not set to an instance of an object.

Barron’s “Top 50 Institutional Consultants” 2018

Barron’s “Top 30 Institutional Consultants” 2015-2017

Barron’s 2018 “America’s Top 1,200 Financial Advisors: State-by-State”

Bruce Wall

Barron’s “Top 50 Institutional Consultants” 2018

Barron’s “Top 30 Institutional Consultants” 2015-2017

Solutions for Institutions

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Helping institutions meet their investment needs

We put the resources and intellectual capital of Bank of America and Merrill Lynch to work for institutional clients like you by delivering thoughtful advice and sophisticated investment strategies through focused client-centric consulting. We help organizations like yours address today’s complex investment challenges through an integrated, goals-based investment process that enables them to redefine success, manage risk and help fulfill their missions.

And More

Beyond our experience, we offer access to the deep intellectual capital and broad capabilities of Bank of America Corporation and its affiliates. If we identify a need we can’t service myself, we can connect you with the people and resources to help you. Through our network of advisors, we strive to deliver strategies to help you manage the day-to-day and long-term responsibilities required in pursuing your institution’s goals. As we work together to address your evolving needs, we can make the broad capabilities of Bank of America Corporation feel much more accessible.

Investment Solutions

We provide access to a full suite of investment solutions to help you manage assets for non-profit organizations, foundations, endowments and corporate retirement and pension plans. Our level of involvement is based on your preference — from traditional consulting, to client-directed implementation, to full discretionary outsourced CIO services. We work with your CFO, board of directors and investment committee to develop a tailored investment strategy that is consistent with your culture, goals, preferences and risk profile.

Disciplined Investment Process

We follow a disciplined process that helps to address your organization’s changing needs and provides you with a potentially higher probability of achieving your long-term investment goals.

1

Investment Policy Statement Development and Review

Act as liaison between institutional clients and Merrill Lynch’s Investment Policy Statement (IPS) service, which creates and modifies an IPS, based on the client’s investment goals and objectives.

2

Strategic Allocation Modeling

Customizable asset allocation based on the Merrill Lynch insightful capital market assumptions.

3

Investment Manager Due Diligence

Recommend investment solutions leveraging Merrill Lynch’s thorough and rigorous due diligence process.

4

Investment Manager Search and Selection

Advanced portfolio construction techniques combined with client specific objectives and Merrill Lynch’s capital market guidance.

5

Portfolio Strategy

Leverage Merrill Lynch’s global intellectual capital including tactical tilts to help increase returns.

6

Performance Measurement

Monitor, quantify and evaluate performance to identify opportunities to refine the portfolio’s overall strategy, based on the Investment Policy Statement.

Endowments, Foundations and Nonprofits

We understand the issues nonprofits, endowments and foundations address in funding their missions in an ever-changing financial climate. Drawing on the global resources of Bank of America Merrill Lynch, we offer insight, guidance and personalized service to help institutions develop and execute investment strategies focused on what matters most to them and the people they serve.

Consider the broad spectrum of our investment management and advisory solutions, including:

  • Investment consulting services
  • Access to fiduciary asset management
  • Impact investing
  • Board governance and education
  • Fundraising & planned giving strategies
  • Cash and liquidity management
  • Nonprofit industry insights

Impact investing and/or Environmental Social Governance (ESG) investing has certain risks based on the fact that ESG criteria excludes securities of certain issuers for nonfinancial reasons and therefore, investors may forgo some market opportunities and the universe of investments available will be smaller.

Defined benefit plans

Whether your defined benefit plan is an active part of your overall benefit offering, is closed to new participants, or fully frozen, Bank of America Merrill Lynch’s service model allows you to outsource the many administrative tasks associated with the maintenance of a pension plan to fulfill plan obligations and manage risk.

Key services include:

  • Investment consulting service
  • Open architecture investment management platform
  • Liability driven investment implementation
  • Actuarial services and discretionary investment management

DCIC

To help you meet your fiduciary responsibilities, we can offer investment solutions which are vetted by the investment due diligence process of the Chief Investment Office (CIO). Merrill Lynch will accept ERISA 3(21) fiduciary responsibility for the investment advice provided through DCIC. We believe that putting the expertise of a specialized Merrill Lynch financial advisor to work for your plan is a smart solution to help you meet your fiduciary responsibilities. We can offer thoughtful advice on how to create an investment lineup that fits your organization’s needs, as well as provide support to help manage investments over time.

CIO Chart Book Outlook Summary

This document summarizes Chief Investment Office asset class views and illustrates the CIO market outlook and positioning through a collection of graphs and tables.

Solutions for Individuals

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Philosophy

We believe the best financial strategy is the one that helps you pursue your goals. That's why, from the start, we talk about your aspirations and encourage you to ask questions about issues that matter most to you. Worried about managing future health care expenses? College on the horizon? Considering the sale of a business or purchase of a home? Preparing to pass your wealth to future generations? With access to the investment insights of Merrill and the banking convenience of Bank of America, we will work with you to develop strategies designed to help address your financial needs.

Approach

We begin every relationship with a conversation, helping you identify and prioritize which goals matter most to you. Whether it's transferring wealth to the next generation, customizing financial strategies to help you pursue your passions, or providing advice and guidance to help you stay informed, we start by listening to learn more about you.

Drawing upon research in the field of behavioral finance, Merrill developed the Investment Personality Assessment to help me get to know you better as an investor and help you refine your investing preferences. By gaining a deeper understanding of how you think and feel about investing, through this assessment we can customize financial strategies together. Using an understanding of your priorities and investment personality as a foundation, we help you access the full breadth of resources from Bank of America’s banking products and services and Merrill’s investment insights to address all aspects of your financial life.

Capabilities

Our process is designed to help deliver a customized, consistent experience to assist clients not only in wealth accumulation and preservation, but in areas that go beyond investment management. Our ability to provide access to the investment insights of Merrill, as well as banking, trust and fiduciary services from Bank of America offers a way to help clients manage all of the pieces of their financial lives. We view ourselves as a financial resource, helping clients with strategies for transferring wealth to the younger generation.

Your approach to investing

Drawing upon research in the field of behavioral finance, Merrill developed the Investment Personality Assessment to help us get to know you better as an investor and potentially help you refine your own investing preferences. By gaining a deeper understanding of how you think and feel about investing through this assessment, we can customize the financial strategy we develop together to help you pursue what matters most to you. Our Investment Personality Assessment is one of the ways to help us get to know you - to understand your goals and priorities. These questions will give you a sense of the full assessment and help us provide you with additional insights and resources.

Understanding your goals and priorities

Your life and goals change. We have tools to help you keep track of these changes so they can be reflected in your financial strategy.

Staying on Track

We understand that both your life and the financial markets can change over time. By periodically checking in to discuss changes in your life and revisiting your financial strategy, our goal is to help give you peace of mind* that you're on track to help achieve what's most important to you.

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Regular reviews to help you stay on track

We'll meet with you periodically to review your goals and the progress you’ve made toward reaching them. We'll also discuss any adjustments needed to your financial strategy to help you stay on course.

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Monitoring changes in your life and to your goals

Your life and goals change. We can help you keep track of these changes so they can be reflected in your financial strategy.

Access to what you need, when you need it

MyMerrill is your destination for access to your financial information, secure communications, and a robust offering of tools and capabilities.

  • Your advisor is never more than a click away within our site or mobile apps
  • Manage account security with our customizable security capabilities such as touch id, one time passcode, and other security features
  • Access to your complete financial life is available with My Financial Picture, Merrill Lynch’s asset aggregation tool

*Peace of mind is an aspirational state of mind that clients hope to achieve. There are no guaranteed results following completion of the Goals-Based Wealth Management process because markets can fluctuate and investments can lose value. Advisors work with clients to help them understand how the goals based wealth management process can help to address their concerns, financial situation and priorities.

Your Financial Strategy

We offer you access to the investing insights of Merrill Lynch and the banking convenience of Bank of America to help you pursue your goals. We will work to help you stay on track, regardless of what the markets are doing.

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FAMILY
Taking care of your family and other people in your life
  • Trust & Estate Services2
  • Education Funding Strategies1
  • Insurance3
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HEALTH
Planning for healthcare expenses now and in the future
  • Long-term Care Insurance3
  • Health Savings Account2
  • Disability Insurance3
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HOME
Upsizing, downsizing, remodeling or buying a vacation home
  • Home Loans2
  • Home Equity Lines of Credit2
  • Securities-Based Lending2
  • Credit Cards2
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WORK
Working in retirement, selling or starting a business
  • Bank of America Business Banking2
  • Exchange Funds1
  • Concentrated Stock Management1
  • Succession Planning1
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LEISURE
Spending your free time in meaningful ways
  • Credit Cards2
  • Securities-Based Lending2
  • Structured Lending2
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GIVING
Volunteering, mentoring others and giving to charities
  • Donor-Advised Funds2
  • Private Foundations2
  • Charitable Trusts2
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FINANCE
Using your finances to bring it all together
  • Merrill Lynch Investment Accounts1
  • Investment Advisory Accounts1
  • Alternative Investments1
  • Exchange-Traded Funds1
  • Mutual Funds1
  • Closed-end Funds1
  • Fixed Income Products1
  • Options1
  • Annuities3
  • Impact Portfolios1
  • Market-Linked Investments1
  • Securities-Based Lending2
  • Margin1
  • Home Loans2
  • Bank of America Checking and Savings Accounts2
  • Credit Cards2
  • Online Account Access1,2

1Investment products are offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated.
2Banking products are offered by Bank of America, N.A.
3Insurance and annuity products offered through Merrill Lynch Life Agency Inc.

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