Portfolio Consulting

A collaborative dialogue with your portfolio manager

Your portfolio manager is a key member of your U.S. Trust relationship team and serves as your personal "chief investment officer." He or she will work with you to create an Investment Policy Statement, which serves as a blueprint for your portfolio by documenting your:

  • Objectives
  • Risk tolerance
  • Cash flow needs
  • Tax situation
  • Wealth aspirations

Your portfolio manager's ongoing role is to incorporate our best strategic and tactical thinking, most relevant research analysis, current market insights and appropriate investment solutions into your portfolio. He or she will regularly monitor your portfolio to make sure it conforms to your Investment Policy Statement, which will be updated whenever there are significant changes in your life or goals.

Asset management

A more complete approach to asset allocation1

We analyze a wide range of asset classes, including hedge and private equity funds2 and global investment opportunities, as potential components of an asset allocation. In addition, we believe that true diversification requires managing for cash flows across and within asset classes in various market environments — not simply allocating according to a grid.

Your asset allocation will be based on the long-term expectations established for each asset class by our most senior investment professionals. Over the shorter term, however, your portfolio manager will adjust your portfolio tactically in response to emerging opportunities and risks, and reflecting U.S. Trust insights about trends and themes relevant to you.

How you own your assets — personally or in trusts; in taxable or tax-exempt solutions — can have a material impact on the overall performance of your portfolio. At U.S. Trust we focus on this wealth structuring aspect of your portfolio in conjunction with managing the assets themselves.

Specialty asset management

Expertise in nonfinancial assets3

Specialty asset management at U.S. Trust focuses on nonfinancial assets such as:

  • Farm and ranch land
  • Timberland
  • Oil and gas properties
  • Private businesses
  • Real estate

Our Specialty Asset Management team can work with your portfolio manager and wealth strategist to integrate these real assets into your overall plan and portfolio.

We can help you realize your objectives with assets you already own, or help you acquire specific assets to take advantage of their capital growth and diversification potential — whether you own these assets outright or they are held in trust.

Our team of specialists can provide complete turnkey services including identifying and purchasing real property and providing ongoing management.

Capital markets

Sophisticated market-linked solutions4

Through our access to the resources of Merrill Lynch, one of the world's leading capital markets participants, we can tailor approaches to risks and opportunities in the foreign exchange, interest rate, commodity and equity markets. Derivative-based transactions target the risks you seek to hedge, and are designed to dovetail with your overall portfolio and wealth management strategies.

1 Asset allocation and diversification do not ensure a profit or protect against loss in declining markets.

2 Alternative Investments such as derivatives, hedge funds, private equity funds, and funds of funds can result in higher return potential but also higher loss potential. Changes in economic conditions or other circumstances may adversely affect your investments. Before you invest in alternative investments, you should consider your overall financial situation, how much money you have to invest, your need for liquidity, and your tolerance for risk. Alternative investments are speculative and involve a high degree of risk.

3 Nonfinancial assets, such as closely-held businesses, real estate, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. Special risk considerations include natural events (for example, earthquakes or fires), complex tax considerations, and lack of liquidity. Nonfinancial assets are not suitable for all investors. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy.

4 Brokerage services are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Certain U.S. Trust associates are registered representatives with Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S") and may assist you with investment products and services provided through MLPF&S and other nonbank investment affiliates. MLPF&S is a registered broker-dealer, member SIPC and a wholly owned subsidiary of Bank of America Corporation ("BAC"). U.S. Trust operates through Bank of America, N.A., and other subsidiaries of BAC.

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