ROCHE HANS ORDERS GROUP

The ROCHE HANS ORDERS GROUP has been helping affluent clients pursue their financial goals through personal service, knowledgeable advice and guidance as well as disciplined investment management for more than four decades. Located in Baltimore, Maryland, we have more than 120 years of combined financial service experience at Merrill Lynch Wealth Management.

During our long tenure in the industry, we have witnessed a variety of markets and economic landscapes. The lessons we have learned have proved invaluable in guiding clients through today's complex, ever-changing investment environment. In addition to substantial real-world experience, we hold a number of professional credentials that enable us to develop a broad perspective on your wealth management needs. Team members work together, each one contributing individual skills and knowledge, to create strategies designed to help you pursue your goals.

Our value to you extends beyond investment management to the highly personalized services and strategies we offer. We are dedicated to helping you take care of your financial well-being so you can concentrate on your life goals.

We follow a goals-based wealth management approach that encompasses asset accumulation, risk management, tax minimization strategies, retirement planning services and wealth transfer. Whether we're helping you with investing, with streamlining your cash and debt strategies or with managing your retirement income streams, our goal is to assist you in pursuing your objectives.

Discretionary Portfolio Management—Many investors do not have the time or inclination to make the day-to-day decisions necessary to navigate today's fast-moving markets. In addition, markets are not behaving the way they used to, and confidence is scarce. Rick Hans and James Orders are specially qualified to manage discretionary investment strategies appropriate to your unique needs and goals. This discretion allows them to respond to market changes, price volatility and global events, as well as your personal circumstances, to help you stay on track to help meet your financial goals.

Retirement Planning Services—Using Merrill's sophisticated retirement planning tools, we can help you determine how much money you may need to retire when and how you wish. We analyze the likelihood of your achieving your retirement goals and then use that information to suggest an appropriate investment strategy. We are also experienced in advising individuals and businesses on setting up and administering qualified retirement plans, including defined-benefit and defined-contribution plans.

Privately Owned Businesses—We understand entrepreneurs and can provide them with access to valuable products and resources for addressing every aspect and phase of their business. Through Bank of America, we can access specialists to help business owners with managing traditional senior debt, mergers and acquisitions, raising capital and evaluating alternative exit strategies.

Corporate Executive Complexities—We can assist executives in handling the risk inherent in equity awards and concentrated stock positions, for which we may suggest using certain hedging strategies. Additionally, we can help develop trading strategies for restricted stock using exchange-traded funds, selling programs and block trades.

Estate Planning Services—A well-defined wealth transfer strategy can help you preserve your assets and see that your personal wishes are fulfilled. In coordination with your other trusted advisors we can assist you with insurance strategies and, through resources at Bank of America Private Bank, we can help you with trusts and philanthropic solutions designed to reduce your estate tax liability.

Credit and Lending—We can provide access to Bank of America services designed to help you meet your personal cash management and borrowing needs with a variety of credit strategies, loan arrangements, home loan refinancings and cash management solutions.

Education Funding—We can suggest investment vehicles and tax minimization college planning strategies, such as college savings plans and custodial accounts, for your children and grandchildren.

Our experience has shown us that no two clients—or their financial situations—are alike. Everyone has a unique set of challenges, needs and motivations, and the strategies we create for you are tailored to your individual requirements.

Our approach to wealth management is client-centric. We begin our consultative process by sitting down with you to ask about your goals and fears, both financial and personal. We want to know not only what is important to you but why.

In addition to your history, priorities and aspirations, we gather information about your total net worth, including your assets and your liabilities, your objectives, liquidity needs, time horizon and risk tolerance. Managing both sides of your balance sheet can help you bring the various pieces of your financial life together into an integrated whole. Based on what we learn, we help you develop customized wealth management strategies that take into consideration where you are financially today and where you hope to be in the future.

Helping you manage your investments is just the beginning. We want to become a valued resource for you, your family and future generations.

We focus on long-term results, not short-term market swings. We guide you in developing portfolios that can help see you through different market environments and phases of the economic cycle. This enables you to spend more time enjoying your wealth and less time worrying about short-term market conditions.

We are strong believers in diversification—among and within asset classes, between growth and value styles and across countries. A portfolio that is strategically balanced among domestic and foreign stocks, bonds, cash and other instruments expands the universe of asset classes in your portfolio. We believe that this can help reduce the risk of wide swings in your portfolio's value while allowing it ample opportunity to grow. We may also recommend including nontraditional assets when appropriate, because their low correlation to the stock market may help reduce risk.

Our investment approach rests on four key principals of risk management:

*#### Downside risk management—We seek to lessen downside risk while simultaneously positioning your portfolio to take advantage of the potential for long-term positive returns. We believe that successful investing is more about avoiding losses than seeking outsized gains.

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*#### Global diversification—To help reduce the effects of volatility and inflation on your returns, we suggest that you consider broadening your array of investments to include ones tied to foreign as well as domestic markets.

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*#### Flexibility—Rather than adhere to a strict buy-and-hold philosophy, we strive to help your portfolio respond quickly to market changes, price volatility and global events, so that it can take advantage of opportunities that might enhance your asset preservation and growth.

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*#### Hedging—We may recommend using various instruments to hedge against adverse price movements.

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*#### Research is essential to our approach. We use the well-respected research of BofA Global Research and other sources to gain perspective on world events and global economics and capital markets. Drawing on the insights and knowledge these sources impart, we can help you make informed decisions about investments and your overall wealth management strategy.

*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 equity research produced by BofA Securities, Inc. ("BofAS") and/or one or more of its affiliates. 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.

Investments in foreign securities involve special risks, including foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments. These risks are magnified for investments made in emerging markets. Hedging and monetization strategies can result in higher return potential but also higher loss potential. Prospective investors are required to meet certain qualifications and acknowledge they understand the risks associated with certain hedging and monetization strategies that may not be appropriate for all investors.

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.

Certain alternative investments carry significant risk and are not subject to the same regulatory oversight as mutual funds and other traditional investments. For these reasons, access to alternative investments may be limited to investors who are designated as sophisticated, high-net-worth investors.

Bringing fresh perspectives to your financial life

The financial decisions you make today can help determine the future you build for yourself and your family. Carving a clear path forward starts with connecting your life and finances. A Merrill advisor provides access to the investing insights of Merrill and banking capabilities of Bank of America to help you make informed decisions as you pursue your goals.

Helping you create a personalized plan

At Merrill, we go beyond the traditional role of an advisor.

• Your goals, concerns and attitude about investing are the foundation of your plan.
• We actively listen and provide personalized advice — ensuring we understand what matters most to you and your family.
• We're committed to creating a personalized plan that evolves with you to help you live well today while preparing for the future.

Giving you access to our teams and solutions

Your advisor is one part of an experienced team dedicated to helping you achieve your goals. Acting as your single point of contact, your advisor provides personalized strategies and connects you with:

• Bank of America specialists, such as mortgage or trust professionals
• Timely insights from BofA Global Research1 to help you stay informed and navigate ever-changing markets
• A full suite of Merrill investing and Bank of America banking solutions

¹_{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 Corp.").}