

The Iles Schropp Group
Our team focuses on addressing the investing and fiduciary responsibilities of institutions as well as the wealth management needs of individuals and families. We work closely with clients to determine their needs so that we can craft customized financial strategies to help them pursue their goals.
We start with what’s important to you
We take the time to listen and learn about the needs and goals of our clients — whether it’s working directly with individuals to help pursue personal wealth management goals, or working with organizations to develop an investment strategy, we’re here to help.
About Us
Meet the Team
Our team is comprised of talented and experienced individuals committed to building strong client relationships based on trust and personalized service.
Additional Resources
The Iles Schropp 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.

Tom Lawson
Trust Specialist
Bank of America, N.A.

Cynthia J Price
Senior Wealth Management Lending Officer
Bank of America, N.A.
NMLS #533709

Meghan Valentine
Wealth Management Banking Specialist
Merrill Lynch
How we make an impact to reach your goals
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 Wealth Management.
Scott A. Schropp is among an exclusive group of Merrill financial advisors 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 partners Ryan D. Iles and Wesley F. Schropp, and the associate 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. Our team members hold a number of designations that represent a commitment to expanding their knowledge in order to serve clients better.
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.
*Global Institutional Consulting (“GIC”) is part of the Global Wealth and Investment Management business of BofA Corp. 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.
Approach
We provide consultative support and hands-on service to help each client pursue their institution’s unique financial mission. Drawing onour personal and professional experience, We offer insight and guidance to help boards and committees articulate their vision, set realistic financial goals and reach consensus on potential investment solutions. Overall, We goal is to help streamline the investment management process, freeing up your time for other priorities.
Our Services
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 review 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
-
Fund-raising and capital campaigns
-
Donor growth strategies
-
Planned-giving strategies, tailored to various market and economic conditions
-
Board and staff education on best practices, including those involving compliance policies and governance and administration
-
Grant-making policies
Outsourced CIO Services
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.*
Socially Responsible Investing
For those organizations that want to have a portion of their investments aligned with their social concerns, we can help create and implement investment portfolios consistent with their humane, moral and environmental values.The Iles Schropp Group serves a wide range of institutional clients that are classified as tax-exempt charitable organizations under the U.S. Internal Revenue Code
-
Mission-based social services organizations
-
Hospitals and other health care foundations
-
College and secondary school endowments
-
Public and private foundations
-
Community foundations
-
Family offices
*Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
* The OCIO product offering is an established investment program offering delivered through Bank of America Private Bank portfolio management team and investment services are performed by that same team. Global Institutional Consultants offer access to these services.
*Global Institutional Consulting (“GIC”) is part of the Global Wealth and Investment Management business of BofA Corp. 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.
*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.
Retirement Accredited Financial Advisor
As a Bank of America Retirement Accredited Financial Advisor[s] (RAFA), The Iles Schropp Group is one of a select group of Merrill advisors specialized in defined contribution plans who can add value to your plan by:
- Offering access to 3(21) fiduciary services1
- Helping you shape your investment strategies
- Offering thoughtful advice without a proprietary investment requirement
- Providing periodic reporting and helping you understand results and measurements to assist you in managing your plan over time
- Working with you to create a plan that is designed to drive employee engagement and positive participant behavior
- Assisting in the delivery of employee financial wellness programs and education
- Educating employees on connecting their life priorities with their finances to help them pursue what matters most to them
1 Fiduciary Advisory Services is an investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”). MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of BofA Corp. MLPF&S. MLPF&S offers a broad range of brokerage, investment advisory 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 which service or services to select. Please refer to the Fiduciary Advisory Services Brochure for information on the program including a description of the series and related fees.
Our Services
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 review 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
-
Fund-raising and capital campaigns
-
Donor growth strategies
-
Planned-giving strategies, tailored to various market and economic conditions
-
Board and staff education on best practices, including those involving compliance policies and governance and administration
-
Grant-making policies
Outsourced CIO Services
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.*
Socially Responsible Investing
For those organizations that want to have a portion of their investments aligned with their social concerns, we can help create and implement investment portfolios consistent with their humane, moral and environmental values.The Iles Schropp Group serves a wide range of institutional clients that are classified as tax-exempt charitable organizations under the U.S. Internal Revenue Code
-
Mission-based social services organizations
-
Hospitals and other health care foundations
-
College and secondary school endowments
-
Public and private foundations
-
Community foundations
-
Family offices
*Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
* The OCIO product offering is an established investment program offering delivered through Bank of America Private Bank portfolio management team and investment services are performed by that same team. Global Institutional Consultants offer access to these services.
*Global Institutional Consulting (“GIC”) is part of the Global Wealth and Investment Management business of BofA Corp. 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.
*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.
Recognition
Merrill is proud of our advisors who’ve received recognition from financial industry publications or directly from Bank of America Corporation. We believe they are setting the standard for exemplary client service.
We start with what’s important to you
At Bank of America, 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.
Solutions for Institutions

Helping institutions meet their investment needs
We put the resources and intellectual capital of Merrill 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.
Investment Solutions
We provide access to a broad suite of potential investment solutions 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.
Investment Policy Statement Development and Review
Act as liaison between institutional clients and Merrill's Investment Policy Statement (IPS) service, which creates and modifies an IPS, based on the client’s investment goals and objectives.
Strategic Allocation Modeling
Customizable asset allocation based on the Chief Investment Office capital market assumptions.
Investment Manager Due Diligence
Recommend investment solutions leveraging Merrill's thorough and rigorous due diligence process.
Investment Manager Search and Selection
Advanced portfolio construction techniques combined with client specific objectives and Merrill's capital market guidance.
Portfolio Strategy
Leverage Merrill's global intellectual capital including tactical tilts to potentially help increase returns.
Performance Measurement
Review, 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 Corporation and its affiliates, 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.
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'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
Supporting a strong retirement plan and helping to keep it on track
The retirement and financial needs of your employees, as well as the responsibility those needs create for you as an employer, are important to you. We offer the solutions your employees may need to help pursue their financial goals and maintain financial wellness. Our array of resources and experience is designed to help meet your employees’ financial needs in ways that make sense for your company — strategically, operationally and financially. You and your employees will have a team of experienced and passionate advocates for financial wellness on your side. Our team will make your priorities their own so you can focus more on your business.
For Plan Sponsors
Your role as a plan sponsor is more challenging than ever, and it’s not something to face alone. We bring the resources and thought leadership from Bank of America Corporation and its affiliates to bear in helping you provide a strong, healthy and fully compliant program that runs smoothly, engages your employees and makes your job easier. We can help you focus on the areas that may be helpful to plan success, including Fiduciary Advisory Services 1 and Education and Plan Services 2 appropriate for your plan.
Fiduciary Advisory Services1
- Investment Policy Statement (IPS)3
- Comprehensive due diligence processes to identify appropriate investments
- Proactive delivery – online and by your designated advisor – of investment performance reporting every quarter
- Report providing fund analysis and market trends.
1 Fiduciary Advisory Services is an investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”). Merrill offers a broad range of brokerage, investment advisory 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 which service or services to select. Please refer to the Fiduciary Advisory Services Brochure for information on the program including a description of the series and related fees.
2 Education and Plan Services are non-fiduciary services required for Advisor Alliance clients and optional for MLII clients.
3 IPS service is not available for FAS Discretionary. The plan sponsor is responsible for the approval and final adoption of the IPS.
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 ourselves, 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 help make the broad capabilities of Bank of America Corporation feel more accessible.
Solutions for Individuals

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 investments. Our ability to provide access to the investment insights of Merrill, trust and fiduciary services from Bank of America Private Bank, and the banking convenience and lending solutions of 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 potential solutions for transferring wealth to the younger generation.
Trust and fiduciary services are provided by 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.”).
Our Philosophy
We believe your unique goals should be at the center of all of your financial decisions and form the foundation of your financial strategy. Because significant wealth requires customized goals-based financial strategies, we believe in building lasting relationships with a limited number of clients, taking the time to understand your most important priorities for today, tomorrow and your long-term future. Our philosophy celebrates collaboration. Working with a team of specialists, we draw on the resources and insights of a global financial institution to create strategies that reflect your aspirations for yourself and current and future generations of your family. Finally, we believe that while significant wealth brings complex challenges, our experience, passion and perspectives can help you simplify your life.
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 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.
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 help you refine your investing preferences. Together, we can help customize your investment approach. 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.
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.
Thought Leadership

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