Philosophy

We believe the best financial approach 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. Calculating how to manage 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? It all starts with a plan intended to help you manage, grow, and preserve your wealth today, while also considering the impact it can have for years to come. With access to the investment insights of Merrill and banking solutions from Bank of America, we will work with you to develop an approach designed to help address your financial needs.

Sheppard Group Investments

Our investment process is simple and transparent. We are always moving forward, always looking ahead. Over the decades of managing risk in the markets we have learned that what worked yesterday may not work today, and what works today may not work tomorrow. Protecting and growing wealth requires more than just the bare minimum understanding of quantitative fundamentals. We believe the best companies are not just financially responsible to their shareholders, but are ethically responsible to their customers, employees, and the communities they affect.

This process reflects the Imagineering approach. We combine the highest-level of technical proficiency along with the creative imagination that comes with decades of building in-house customized financial strategies. The rationale for making any investment choice must always be able to be concisely and simply explained. We don’t chase short-term trends, we look 3, 5, and 10 years into the future using demographics. We have proven that you don’t have to sacrifice a higher alpha (a measure of return) in order to achieve low beta (a measure of risk) or vice-versa. It is through an intimate understanding of economic moats that we can make investment choices that are both poised for growth and downside protection. Investments which prioritize responsible environmental, social, and governance practices are a sign of forward-thinking stewardship.

What binds our entire process together is individuals who are both professionals and enthusiast of the capital markets. We utilize every resource at our disposal. BofA Global Research is comprised of some of the best minds in finance and economics who deliver guidance that is always on the cutting edge. We go far above and beyond just BofA Global Research research. The Sheppard Group investment team puts the Imagineering approach constantly into action. We use that process to place ourselves in the shoes of the shareholder, the customer, the employee, and the competitor. That process gives us a perspective that eliminates as many blind spots as possible. We don’t make an investment unless we feel that investment looks strong from each of those perspectives. By having a team that takes this immersive approach you have a team that truly understands the story behind every investment choice.

The Sheppard Group has never taken a traditional approach to investing, and we don’t intend to.



*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. Any information presented in connection with BofA 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.

*Impact investing and/or Environmental, Social and Governance (ESG) managers may take into consideration factors beyond traditional financial information to select securities, which could result in relative investment performance deviating from other strategies or broad market benchmarks, depending on whether such sectors or investments are in or out of favor in the market. Further, ESG strategies may rely on certain values based criteria to eliminate exposures found in similar strategies or broad market benchmarks, which could also result in relative investment performance deviating.

Approach

Every relationship begins with a conversation, helping you identify and prioritize which goals matter most to you. Whether it's transferring wealth to the next generation, customizing your financial approach 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 and your family.

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 approach 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 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 approach.

Focus On Individuals, Families and Small Businesses

We believe that financial success can be achieved when you’re able to make investment-related decisions and trade-offs that can help you reach personally meaningful goals. Whether you’re planning your retirement, saving to buy a home or funding a child’s education, the process begins by getting to know you and how you feel about the following:

• Health: Managing healthcare expenses, now and in the future
• Home: Upsizing, downsizing, remodeling or buying a vacation home
• Family: Taking care of your family and other people in your life
• Leisure: Spending your free time in meaningful ways
• Giving: Volunteering, mentoring others and giving to charities
• Work: Working in retirement, selling or starting a business
• Finance: Bringing it all together and defining your financial goals

Success will be measured by the amount of progress you are making toward reaching your goals, making thoughtfully considered adjustments as events and conditions warrant.

This material should be regarded as general or educational information on healthcare or Social Security considerations and is not intended to provide specific healthcare or social security advice. If you have questions regarding your particular situation, please contact your legal or tax advisor.

Client Digital Capabilities

Step-By-Step Instructions

It is important to us that our clients have step-by-step instructions in order to take full advantage of the tremendous amount of technology available to them. The various instructions listed below are designed to guide our clients in navigating our diverse online platform.

• WebEx
• MyMerrill Enrollment
• Online Delivery Enrollment
• Accessing the Secure Inbox
• Document Scanning
• Mobile Check Deposit
• Third Party Access – MyMerrill
• Digital Signature Suite – e-Signature
• Digital Signature Suite Mobile Easy Sign
• Digital Signature Suite Digital Collaboration
• My Financial Picture
• Funds Transfer Service (FTS)
• Linking Merrill Investment and Bank of America Banking Accounts
• MyMerrill Enrollment – International Clients
• Updating Personal Information - MyMerrill
• MyMerrill Security Settings
• MyMerrill Alert Settings

Our Online Approach

Enjoy convenient, secure account access with MyMerrill®

We’re here to help you pursue your goals — and to make your busy life a little easier. With MyMerrill, you can access your investment accounts how, when and where you want to.

MyMerrill Features includes:

• Portfolio Summary
• Holdings
• Unrealized & Realized Gain/Loss
• Research & Insights
• Activity
• Statements
• Secure Message Center
• Real–Time Quotes
• Money Transfers
• Available to Withdraw (Cash and Margin)
• Documents Vault
• Bill Pay
• Downloads
• Watchlists & Alerts
• e-Signature
• Pay Merrill and Bank of America Credit Cards
• Authorized Account Access (3rd Party)
• My Financial Picture
• MyMerrill Security Features
• Document Scanning
• MyMerrill Mobile App (available on Android, iPad and iPhone mobile devices)

• MyMerrill Overview
• Wealth Management Your Way
• Online Delivery and MyMerrill enrollment
• MyMerrill Mobile App
• Secure Message Center
• My Financial Picture
• MyMerrill Security Features
• Mobile Check Deposit
• e-Signature
• Authorize Account Access (3rd Party)
• Touch ID
• Digital Capabilities
• Banking, Borrowing and Investing

Any information presented in connection with BofA 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 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. BofA 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.