Investment Philosophy

We believe that each client’s unique goals should be at the center of their financial decision making, and form the ultimate foundation of their financial strategy.  We therefore follow a detailed process to invest holistically for our clients across various asset classes.  Our allocations are dynamic in nature with consideration given to both valuations and the broader economic environment.  We favor investments with strong cash flow and stable balance sheets to help meet our absolute return benchmark.

Through the Merrill Investment Advisory Program we offer a variety of custom, 3rd party strategies that deliver an appropriate balance of risk and reward.  Merrill’s Due Diligence team is made up of 62 members with an average industry experience of 19 years.  Our investment manager offerings have undergone a thorough evaluation process before they can be included in your portfolios.  Based on an eight-factor analysis, this process incorporates both quantitative inputs and qualitative factors, allowing us to capture a 360-degree view of each manager to determine whether there is a high probability that they meet their individual investment objectives.  Most importantly, our actions are grounded in a deep understanding of what matters most for our clients, and are complemented with regular reviews. 

Our firm has also developed a robust private equity, private debt, and private real asset pipeline, which starts with over a thousand managers that are eventually narrowed down to 30-50 funds and 9-14 actual launches per year.  During this thorough screening process, which includes in-person meetings, our Due Diligence team evaluates each manager’s investment process, industry experience, and risk controls.  The team places a particular emphasis on identifying managers employing a repeatable process that seems well suited to generate alpha and solid risk adjusted returns over a market cycle. Through ongoing analysis and tracking, including more onsite visits, the Due Diligence team seeks to ensure that the rationale for our investment conviction remains valid and identify any other issues that warrant further analysis.

Impact Investing has become more relevant now than ever before.  To that end, our Firm’s Chief US Equity Strategist, Savita Subramanian, is also head of ESG research at BofA Global Research.  Her team follows the same process to assess ESG investment managers and non-ESG managers, with added research into how ESG managers use ESG data or research to achieve target risk-adjusted returns and impact.  Please reach out to me if you’re interested in hearing more about our industry leading ESG investment process.

*Some or all alternative investments may not be in the best interests for certain investors. 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. 2. 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. 3. 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. 4. 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.

My Process

My process is designed to help deliver a customized experience to assist clients not only in wealth accumulation and preservation, but in areas that go beyond investments. Because significant wealth requires customized, goals based financial strategies, we believe in building lasting relationships with a limited number of clients. We believe that while significant wealth brings complex challenges, our experience, passion and perspectives can help you simplify your life. By working with a team of specialists, we draw on the resources and insights of a global financial institution the create strategies that reflect your aspirations both for yourself and future generations. This includes the following services:

• Asset Allocation
• Portfolio Construction
• Investment Due Diligence
• Trust and Estate planning
• Credit Optimization solutions from Bank of America
• Mergers and Acquisitions (Exit Strategies)
• Access to Banking Services form Bank of America

Behavioral Finance

Behavioral finance is the study of psychological influences on the behavior of investors. 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. By gaining a deeper understanding of how you think and feel about investing, we can customize the financial approach we develop together to help you pursue what matters most to you and your family. This can help us better prepare for the future, whether it be for retirement, wealth-building, or investment decisions.

Wealth Allocation Framework

We help our clients build a Wealth Allocation Framework around 3 different risk buckets: 1. Personal Risk: preserving your standard of living and short-term liquidity needs (cash/savings) 2. Market Risk: strategies designed to provide risk adjusted market returns for maintaining future lifestyle (diversified portfolio of investments in stocks, bonds, alternative investments) and 3. Aspirational Risk: enhanced lifestyle and/or legacy wealth for future generations (e.g., owning a business, concentrated stock)

Finally, we know that 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.

Some or all alternative investments may not be in the best interests for certain investors. 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.

Who We Work With

Founders, Business Owners & Entrepreneurs

When you have built your own business, your personal finances and the life of your company are closely intertwined. You may be thinking about how to invest in your company’s growth while also deciding how best to use your personal assets. Helping ensure the future of your business likely involves employee benefits, retirement plans and succession planning. Helping secure your family’s legacy could entail wealth transfer strategies, trusts and philanthropy. Whatever your specific needs, we at Merrill Private Wealth Management can help entrepreneurs and business owners balance their personal financial lives with their life’s work. We are dedicated in providing the experience and resources to help support your ongoing success.

Part of this process often includes the Private Sales program, which consists of Bank of America’s middle-market advisory group, as well as direct access to third-party, industry-specific investment banking advice and execution. Through this channel, Alex helps deliver wide-ranging investment banking solutions to business owners such as a business sale, merger, acquisition, ESOPs or recapitalization services.

Intergenerational Family Wealth

As a family that spans multiple generations, you have needs that go beyond preserving assets, tax minimization strategies and designating heirs. Your goals also likely include passing on values and helping the next generation become effective stewards. We can help with personalized wealth transfer strategies, family wealth education and developing and implementing philanthropic visions. In working with you to create an approach that reflects your family’s intentions and helps ensure your assets are distributed according to your wishes, we proceed in a manner that recognizes the complexities of your life challenges and the unique nature of your goals. Our extensive experience working with other families of significant wealth helps us to see and share best practices to help you achieve them.

Corporate Executives

We understand the complexities that come with your executive position and the extreme demands on your time. We can help you develop a customized strategy that your finances and compensation require. We can help with risk management strategies for your concentrated stock position while navigating complex SEC rules, trading restrictions and reporting requirements. If you’ve just been promoted and would like help evaluating your new compensation plan, or if you’re looking to develop a long-term financial strategy for you and your family — designed to enable you to live life as you want it, with reliable access to cash — we can help simplify your financial life, as well as develop new strategies as your career and goals evolve.

Family Offices: As private wealth advisors with Merrill Private Wealth Management, we work with prominent families to help them manage the ongoing complexities they face. Our deep experience with family offices enables us to tailor a range of services to help meet your specific needs. We can provide access to Merrill for investment and wealth management, and to Bank of America for governance, asset custody and administration, as well as assisting in the financial education of younger family members. In working with you to create and implement plans reflecting your specific intentions, our goal is to help your family enterprise succeed, and that your knowledge and values are passed along to the next generation. Together, we will focus on strategies that recognize the unique nature of your family’s mission, history and goals.

*Merrill Lynch Family Office Services are offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”). In connection with its Family Office Services, Merrill is not acting in the capacity as a broker-dealer, nor as a registered investment adviser. Accordingly, through its Family Office Services, Merrill is not offering, and its clients are not paying for, advice with respect to securities, the purchase or sale of securities, or the valuation thereof, nor do Merrill Lynch's Family Office Services encompass financial planning, discretionary account management, or any other securities-related accounts, products or services. Merrill offers a broad array of brokerage and investment advisory accounts, products and services through other parts of its business outside of Family Office Services, which are subject to separate agreements, disclosures, and fee arrangements, and may be procured by applying or enrolling and contracting through those other business channels. Please contact your Financial Advisor or Private Wealth Advisor with questions regarding Merrill's brokerage or investment advisory offerings.

For certain clients, Alex works directly with the Westmoreland Group, which is one of the top Private Wealth Management teams at Merrill. The combined team oversees more than $7 billion in assets for first and second generation business owners (as of 04/30/2022). The team is led by Rod Westmoreland and was named to the Barron's "Top 100 Private Wealth Management Teams" list, 2022, 2021, 2020, and 2019.*

*Source: The Barron’s “Top 100 Private Wealth Management Teams” list, published annually in April. Rankings based on data as of December 31 of prior year.

The Barron’s “Top 100 Private Wealth Management Teams” list is a ranking of wealth management teams that specialize in serving individuals and families. The teams are ranked on a variety of factors, including their size and shape, the regulatory records and credentials of their members and the resources they have at their disposal to serve their client bases. The Barron’s “Top 100 Private Wealth Management Teams” ranking considered advisors with a minimum of seven years financial services experience and who have been employed at their current firm for at least one year. Quantitative and qualitative measures used to determine the advisor rankings include: client assets, return on assets, client satisfaction/retention, compliance records, and community involvement, among others. Rankings are based on the opinions of Barron’s and not representative nor indicative of any one client’s experience, future performance, or investment outcome and should not be construed as an endorsement of the advisor. Barron’s does not receive compensation from advisors, participating firms and their affiliates, or the media in exchange for rankings. Rankings and recognition from Barron’s are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results, and such rankings should not be construed as an endorsement of the advisor. Barron’s is a trademark of Dow Jones & Company, Inc. All rights reserved.