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Maggs & Associates

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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 your institution and the people it serves – it’s these real-world insights that guide our strategies and personalized service.

About Us

Mission

Maggs & Associates focuses on addressing the investing and wealth management needs of institutions and individuals and families. Our team works closely with clients to determine their needs and aspirations so that we can craft customized strategies to help them pursue their goals.

Additional Resources

Maggs & Associates is supported by talented specialists who have experience working with institutions and share a strong commitment to guiding investment programs and strategic decision making.

Jennifer Calista

Jennifer Calista

Wealth Management Lending Officer

Bank of America, N.A.

NMLS #535313

Michael Zimmerman

Michael Zimmerman

Wealth Management Banking Specialist

Merrill

Andrew C. Tirney

Andrew C. Tirney

Employee Benefits Specialist

Bank of America, N.A.

Approach

Clients at various stages in their lives count on us to help them find ways to pursue their financial and life goals, including:

  • The retirement lifestyle they envision

  • Preparing for the cost of the best education possible for their children and grandchildren

  • Wealth transfer to the next generation

  • Establishment of their legacy through family foundations and philanthropy

  • Diversifying business interests

  • Strategies for managing concentrated equity holdings

We offer thoughtful investment guidance and more for our Institutional Retirement clients.  Merrill’s ERISA 3(21)1 Fiduciary Advisory Services include menu design advice, Investment Policy Statement creation, and investment recommendations to help meet a company’s specific goals, as well as ongoing investment due diligence and investment performance reporting.  Plan sponsors may also benefit from simplified and more transparent pricing.

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. All recommendations must be based on your best interest. Please refer to the Fiduciary Advisory Services Brochure for information on the program including a description of the series and related fees.

Retirement Accredited Financial Advisor

As a Bank of America Retirement Accredited Financial Advisor[s] (RAFA), Maggs & Associates  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. All recommendations must be based on the suitability requirements of the client. Please refer to the Fiduciary Advisory Services Brochure for information on the program including a description of the series and related fees.

Our Focus

Maggs & Associates is dedicated to helping people achieve their financial goals.  We believe every client is entitled the highest level of personalized service and care.  With the global resources of Merrill, we’ll place you at the center of the wealth management process as we work together to design goals-based financial strategies to help you reach the goals that matter most to you.

Our team is committed to providing knowledgeable perspectives, thoughtful advice and customized strategies that are integrated with the unique needs of you and your organization.  We are committed to creating strong relationships with clients and to providing value through our services.

As Bank of America Retirement Benefits Consultants (RBC), Mark Maggs, David Kim, Melanie Hnatishion, & Sara Gdowik are one of a select group of highly qualified and credentialed Merrill advisors specialized in defined contribution plans.  From helping you shape a retirement plan to providing access to Fiduciary Advisory Services* we can help develop a plan to help meet your goals.

*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. All recommendations must be based on your best interest. Please refer to the Fiduciary Advisory Services Brochure for information on the program including a description of the series and related fees.

Meet the Team

Our team is comprised of talented and experienced individuals committed to building strong client relationships based on trust and personalized service.

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.

Mark Maggs

Forbes “Best-in-State Wealth Advisors”  2018 - 2021

Barron’s Top 1,200 Financial Advisors in 2016

David Y Kim

Forbes "Best-in-State Next Generation Wealth Advisors" in 2019

Solutions for Institutions

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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

Through Fiduciary Advisory Services, we can help you design and maintain an investment menu.
  • 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.

For Employees

All our efforts revolve around helping your employees pursue their goals. With Bank of America Corporation’s long legacy of service excellence, we take a holistic approach to helping your employees connect their life priorities and financial priorities—in and beyond their benefit plans. By broadening our view to include an employee’s entire financial picture, both in and out of plan, we believe we can help your employees better manage and gain control of their finances.

  • Holistic approach to helping improve overall financial wellness
  • Personalized plan saving and investing advice through Advice Access
  • Comprehensive employee education program
  • Choice of service channels – in person, by phone or self-directed online

Advice Access is an online investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Inc. (“MLPF&S” or “Merrill”) that uses a probabilistic approach to determine the likelihood that participants in the program may be able to achieve their specified annual retirement income goal and/or to identify a potential wealth outcome that could be realized. The recommendations provided by Advice Access may include a higher level of investment risk than a participant may be personally comfortable with. Participants are strongly advised to consider their personal goals, overall risk tolerance, and retirement horizon before accepting any recommendations made by Advice Access. Participants should carefully review the explanation of the methodology used, including key assumptions and limitations as well as a description of services and related fees, which is provided in the Advice Access disclosure document (ADV Part 2A). It can be obtained through Benefits OnLine or through the Retirement Benefits Contact Center.

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.

IMPORTANT: The projections or other information shown in the Advice Access program regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time.

DCIC

Through our Defined Contribution Investment Consulting (DCIC) program 1 we can help you construct and maintain an appropriate investment menu and act as an ERISA 3(21) fiduciary 2 for your plan. Our Designated Advisors take the time to understand the needs of your organization and to work with you to develop an investment policy statement and investment menu aligned with your plan’s objectives. Your Designated Advisor remains actively involved with your plan with investment performance reports and advice and guidance as needed to help you manage investments over time.

1  Defined Contribution Investment Consulting (DCIC) is an investment advisory program sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S or “Merrill”). It is only available to defined contribution plans, typically with greater than $10 million in assets, for which an external provider serves as recordkeeper (plans with recordkeeping services provided through Merrill or Advisor Alliance are not eligible for DCIC), and subject to certain requirements. For more information on plan eligibility speak to your Merrill Designated Advisor.

2 The Merrill  DCIC Client Agreement and disclosure documents include information about the program, including Merrill’s fiduciary responsibilities pursuant to ERISA section 3(21). Final selection of all investments to be included in the defined contribution plan menu will ultimately be that of the client. Merrill will not advise upon any employer securities, including any employer stock fund, or with respect to any self-direct brokerage option, participant loan balances, in-plan retirement income options, custom funds or Bank of America or Merrill affiliated mutual funds or other affiliated products (including, without limitation, deposit products including Retirement Bank Account).

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 make the broad capabilities of Bank of America Corporation feel much more accessible.

Workplace Insights™ | Public Policy & Trends

Access information about the issues, laws and industry changes that are being considered and what these changes could mean to you and your employees.

Solutions for Individuals

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Staying on Track

We understand that both your life and the financial markets can change over time. By checking in to discuss changes in your life and revisiting your financial approach, our goal is to help you stay on track to achieve what’s most important to you.

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Reviews to help you stay on track

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

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Changes in your life and to your goals

Your life and goals change. As these changes occur, we can update your approach to reflect them.

Wealth Management Your Way

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

Your advisor is a click away within our site or mobile apps

You can 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’s asset aggregation tool

Your Financial Approach

We offer you access to the investing insights of Merrill, trust and fiduciary services from Bank of America Private Bank, 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 Services4
  • Education Funding1
  • 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 Funds4
  • Private Foundations4
  • Charitable Trusts4
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FINANCE
Using your finances to bring it all together
  • Merrill 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

¹ Investment products are offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated.
² Banking, mortgage and home equity products offered by Bank of America, N.A.
³ Insurance and annuity products offered through Merrill Lynch Life Agency Inc.
4 Trust and fiduciary services are provided by Bank of America Private Bank.

Defining Your Financial Vision

Wealth management is much more than a series of portfolio transactions. It is a disciplined process carried out over years, even decades. We take a client-centric approach, listening carefully to what you tell us to form a complete picture of your current financial situation and your goals for the future. Working collaboratively with you, we then help you develop strategies that are tailored to your objectives and address needs that you may not have even realized you had.

We begin with candid and thorough discussions that may include such topics as:

  • Your past investment experience
  • The age at which you wish to retire
  • Annual 401(k) contributions and match
  • Transitioning wealth to the next generation
  • Goals, like higher education, that you wish to fund
  • Current investment risk level, time horizon, liquidity needs and overall objectives
With a clear understanding of these factors, in addition to your personality, your lifestyle, your individual, family and professional priorities and the role you see wealth playing in your life, we can help you create a wealth management strategy customized to your unique situation and aspirations. As needed, and with your consent, we will collaborate with your other professional advisors, as well as specialists within the firm, to coordinate tax minimization strategies, insurance and estate planning services. Through Bank of America, we can offer access to banking and financing.

Attentive Capabilities to Address Multidimensional Needs

Our services extend beyond wealth management. Our goal is to provide you with a one-stop resource to help address the various aspects of your financial life—from investments, wealth transfer, life insurance and philanthropic desires. Through Bank of America, N.A., we can offer access to home financing.

Business Owners—Entrepreneurs look to us for assistance both in maximizing the amount of income they can defer for retirement and in providing valuable retirement benefits to their employees. Among the ideas we may suggest are 401(k), defined-benefit and nonqualified deferred-compensation plans, and profit-sharing programs. We can also help with business insurance, succession planning, and exit and cash management strategies.

Corporate Executives—We have considerable experience helping corporate executives prepare for their retirement and handle the risk inherent in equity awards and concentrated and restricted stock positions. When developing diversification strategies for these holdings, we also consider your other assets, risk tolerance, time horizon, liquidity needs and expectation for future growth. If appropriate, we may suggest using Merrill's sophisticated hedging strategies and derivative products.

Retirees and Pre-retirees—We offer advice and guidance on forging a realistic path toward a comfortable retirement. While you're still working, we can work your outside tax advisor to recommend tax minimization long-term strategies designed to maximize the benefits from company-sponsored offerings and other retirement sources. After you retire, we can suggest investment strategies designed to generate income and help you track your spending to help ease concerns about outliving your resources.

Estate Planning Services—Wealth transfer is a personal and sometimes complicated process. Working with your attorney and Bank of America Private Bank(formerly U.S. Trust), we can provide access to estate planning services through Bank of America. We will review your current situation and, if needed, work with you to develop and implement strategies designed to help you preserve your legacy.

Institutions—We understand that institutional investors have complex needs. Working with specialists at Merrill, we can help your organization with investment policy development, asset allocation modeling, manager selection and performance measurement. We can meet with your institutional board and investment committee to review your portfolio's performance and to present our current market research and outlook.

Credit and Lending—Working with a Wealth Management Lending Officer from Bank of America, N.A. we can help you analyze what you owe to whom and how much that debt costs you. We can also provide access to a wide range of credit services and loan arrangements to help you meet your personal cash management and borrowing needs.

*Some or all alternative investment programs may not be in the best interest of certain investors. No assurance can be given that any alternative investment’s investment objectives will be achieved.
*The Wealth Management Lending Officer does not offer investment advice, nor make recommendations on investment products.
*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.
 

Investment Philosophy

A Professional Portfolio Process

We strive to help you build a diversified portfolio designed to move you toward your long-term investment goals with an appropriate level of risk. Key to our approach are carefully considered asset allocation and informed manager selection. 

In developing customized investment recommendations for you, we take into account your investment objectives, risk tolerance, time horizon and liquidity needs. With these considerations in mind, we suggest an asset mix that may include both equity and fixed income. Our approach is not static, and if appropriate, we may advise you to tactically rebalance your portfolio by over- or underweighting an asset class relative to your target allocation.

For clients who need more stringent investment documentation, we have access to professionals who can create an investment policy statement. This document can serve as the foundation for our portfolio construction, enabling us to develop manager selection criteria and allocate assets more effectively.

Manager Selection Analysis

When considering outside investment managers for you, we combine research from BofA Merrill Lynch Global Research with our own quantitative and qualitative analysis to identify and select ones with solid track records* and risk management procedures.

Quantitative Analysis: We review each candidate's historical risk-adjusted returns relative to the relevant benchmarks and peer groups. We look for funds with consistent historical performance*.

*Past performance is not a guarantee of future performance.

Qualitative Analysis: We examine such factors as the candidate firm's ownership structure, depth of staff, assets under management and asset growth trends. Investment process consistency, trading environment and risk management practices are also critical.

Discretionary Portfolio Management

You can delegate to Mark, as a portfolio manager, the investment management responsibilities for your portfolios, meaning he has discretion over certain investment decisions surrounding your investment strategy. Once he has confirmed your goals and life priorities, as well as identified your portfolio investment objective, time horizon, risk factor and liquidity needs, he will recommend targeted asset allocations for your portfolios to help meet your specific investment objectives. Granting this authority allows Mark to respond to market changes, price volatility and global events with the ability to make adjustments, if needed, to help your portfolio stay on track to meet your goals.

To help you track and assess performance, we will review your portfolio with you regularly and you will receive periodic communications including monthly statements, quarterly portfolio summary updates and annual performance reports.

Join us

Let’s Have a Conversation

There is no substitute for a one-on-one relationship with a Merrill financial advisor committed to your needs.

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