Taking care of your family and other people in your life
- Trust & Estate Services2
- Education Funding Strategies1
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.
Every institution is unique, with its own specific purpose, objectives and concerns. The Iles Schropp Group understands the challenges your organization faces in pursuing your mission and goals. As wealth management professionals with experience on the board of directors and committees of nonprofit organizations, we can bring insight and empathy to our relationships with institutional clients across the tax-exempt spectrum. We also maintain a significant wealth management advisory practice for individual clients and their families, as part of Merrill Lynch's Private Banking and Investment Group.
Scott A. Schropp is among an exclusive group of 88 Merrill Lynch financial advisors nationally (as of December 2017) who have been designated as Global Institutional Consultants, after undergoing a rigorous selection process, including a comprehensive, multidimensional professional assessment. Global institutional consultants are required to possess professional credentials, such as the Certified Investment Management Analyst® (CIMA®) or the Chartered Financial Analyst® (CFA®) designation.
Supported by team members Ryan D. Iles and Wesley F. Schropp, and the rest of the team, Scott can deploy a sophisticated skill set. A disciplined investment and problem-solving approach enables the team to offer services to a wide range of institutions, with a focus on foundations, endowments and other nonprofit entities.
Beyond our own experience, we offer access to the deep intellectual capital and broad capabilities of a global leader, Bank of America Merrill Lynch. If your organization has a specific need, we can connect with the right people and resources to help you. As we help you navigate toward your future goals, we can make a large financial institution feel much more accessible. Education is central to our approach. Team members hold a number of designations that represent a commitment to expanding our knowledge in order to serve clients better.
The Iles Schropp Group difference is that we care deeply about helping our clients meet their goals and fulfill their missions. We demonstrate this daily by our diligence, responsiveness and commitment to lifelong learning.
The Iles Schropp Group has a number of large, strategic relationships with public and private foundations, endowments and other not-for-profit organizations primarily located in the Midwest. Our team members draw upon their many combined years of financial services experience. This professional experience, coupled with our personal experience serving on boards and committees, provides meaningful insight in working with boards, investment committees, chief financial officers and key members of an organization.
We believe that clients choose us because they want customized investment strategies, not a standardized package of investment products. In addition, we feel they appreciate the characteristics that distinguish our team.
Our mission is simple: to help institutional investors pursue their missions through insightful investment guidance. Our passion for assisting organizations is evident in both our professional and our private lives.
Scott Schropp is active in his community and in numerous nonprofit organizations, serving on boards or investment committees. This involvement gives him important insight into the challenges that trustees face and the different ways in which boards address those challenges. Scott brings this insight to his work with clients and believes this helps him interact effectively with clients' boards. He is a member of the following organizations: Council of Michigan Foundations, National Planned Giving Council, Investments & Wealth Institute™, Independent Sector, Northeast Michigan Estate Planning Council, Association of Fundraising Professionals and Council on Foundations. In addition, he is on the Board of the Michigan Nonprofit Association.
Board members and executive directors wear many hats. To assist them in fulfilling their varied roles, we conduct robust discussions to help determine the strategies intended to effectively move them toward their goals. We work together to determine the particular issues clients face with regard to their organizations' missions and finances, and to lay out the pros and cons of possible courses of action.
The institutional landscape is constantly changing. We strive to be thought leaders who stay abreast of new ideas and the regulations and issues that affect clients. We attend national conferences on wealth management and philanthropic planning and continually read about and research industry best practices to give board members a broad perspective in creating their own policies and strategies. It's not just a onetime process. We educate board members when there's a turnover and teach them how to build awareness of their organization and its mission in the community.
Recognizing that each client is unique, we take personal ownership of every relationship, from the request for proposal through the first conversation and the discovery process to quarterly performance meetings. We visit clients in person as often as necessary and are part of the process from beginning to end. The result is consistency and a continuity of strategic advice and support. We draw on our experience to help board members make the difficult decisions required to pursue their organizations' missions and long-term goals.
We understand that members of endowment and foundation boards and investment committees have a significant responsibility with respect to the assets under their care. To complicate matters, many entities are managed by private trustees who may not have the time, resources or expertise required to develop, implement and monitor a disciplined, long-range investment strategy. Scott Schropp, supported by members of The Iles Schropp Group, have made investment consulting for not-for-profit organizations a central part of the team's practice. With a wealth of knowledge and experience, they are well positioned to help institutions explore the issues they face from multiple perspectives.
We can work with trustees, directors and investment committee members on
Outsourced CIO services allows institutional investors to delegate the day-to-day management of their entire portfolios to Bank of America through Global Institutional Consulting. This, in turn, leverages the firm's institutional resources, governance and research depth to seek predictable and consistent investment performance in line with an institution's goals. The Iles Schropp Group offers access to a spectrum of OCIO solutions ranging from client-directed implementation to fully discretionary service, with the institution's needs and preferences driving the recommended solutions.*
Our team is comprised of talented and experienced individuals committed to building strong client relationships based on trust and personalized service.
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.
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.
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.
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.
Customizable asset allocation based on the Merrill Lynch insightful capital market assumptions.
Recommend investment solutions leveraging Merrill Lynch’s thorough and rigorous due diligence process.
Advanced portfolio construction techniques combined with client specific objectives and Merrill Lynch’s capital market guidance.
Leverage Merrill Lynch’s global intellectual capital including tactical tilts to help increase returns.
Monitor, quantify and evaluate performance to identify opportunities to refine the portfolio’s overall strategy, based on the Investment Policy Statement.
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:
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.
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.
We believe that 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 on to future generations? With access to the investing insights of Merrill Lynch and the banking convenience of Bank of America, we will work with you to develop strategies that are designed to address your priorities and financial needs.
We begin every relationship with a conversation, helping you to identify and prioritize which goals matter most to you. Whether that's transferring wealth to the next generation, customizing financial strategies that help you pursue your passions, or simply providing advice and guidance to help you stay informed, we start by listening to learn more about you.
Merrill Lynch developed the Investment Personality Assessment to help us get to know your investing preferences. By gaining a deeper understanding of how you think and feel about investing through this assessment, we can help customize the financial strategy we develop together.
Our process is designed to deliver a customized, consistent experience to assist clients not only in wealth accumulation and preservation, but in areas that go beyond portfolio management. Our ability to provide access to the investment insights of Merrill Lynch and the banking convenience of Bank of America offers a way for clients to manage all of the pieces of their financial lives. We can be a financial resource, helping clients with the process of transferring wealth to the younger generation.
Drawing upon research in the field of behavioral finance, Merrill Lynch 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 with your approach for what matters most to you. Our Investment Personality Assessment is one of the ways to help me 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.
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.
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.
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.
MyMerrill is your destination for access to your financial information, secure communications, and a robust offering of tools and capabilities.
*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.
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.
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.