Merrill Edge® Self-Directed Investing Client Relationship Agreement

Merrill Edge® Self-Directed Investing Client Relationship Agreement Terms and Conditions 1. Introduction 2. Overview of Merrill Edge Self-Directed Investing We have prepared the Merrill Edge® Self-Directed Investing Client Relationship Merrill Edge Self-Directed Investing is designed for U.S.-based investors Agreement (hereinafter referred to as the “Merrill Edge Self-Directed CRA” or who wish to make their own investment choices in a Merrill Lynch, Pierce, “this Agreement”) in order to help you understand your relationship with Fenner & Smith Incorporated brokerage account. Merrill Edge Self-Directed Investing. This Client Relationship Agreement Neither Merrill, nor MESD, nor any Merrill or MESD representative, will provide ("Agreement"), and the agreements for the various products and services you with investment advice, including any recommendations, or offer any offered by Merrill Edge Self-Directed Investing, details the nature of the mutual opinion regarding the suitability of any security, order, transaction, or strategy obligations for services you are about to use and those services you may in a Merrill Edge Self-Directed Investing Account, or monitor your investment choose to use in the future. or the appropriateness of your account or service level, or alert you to any Merrill Edge Self-Directed Investing (also referred to herein as “MESD”) recommended change to your investments, investment accounts, or services. is the marketing name for certain brokerage services offered to clients Neither Merrill nor MESD, nor any Merrill or MESD representative, will provide on a self-directed basis through Merrill Lynch, Pierce, Fenner & Smith any tax or legal advice. Incorporated (“Merrill”). No Merrill Research opinion, Independent Research opinion, the inclusion We have provided you with a copy of the Client Relationship Summary (“Form of a security on any list, or any information provided to you either on CRS“) either online via the Online Account Opening process or as part of the the Merrill Edge website or by mail or any other means constitutes a MESD application packet. recommendation to you to purchase, hold or sell any investment. You should review the Form CRS to understand the scope of services that By entering into this Agreement, you agree that any transactions executed we can provide you at Merrill and key information about our brokerage and through your Merrill Edge Self-Directed Investing Account, whether based on investment advisory programs. information obtained from Merrill or elsewhere, will be solely your own decision and based on your own evaluation of your personal financial situation, needs, Merrill offers its products, accounts and services through different service and investment objective(s). models (e.g., self-directed or full-service). Based on the service model, the same or similar products, accounts and services may vary in their prices or fees In addition to retaining the sole responsibility for investment decisions, you charged to a client. The Summary of Programs and Services, as well as the understand and agree that you are responsible for knowing the rights and Form CRS, outline these different programs and are included during the Online terms of all securities in your account, specifically including valuable rights Account Opening process or as part of the MESD Application Packet. that expire unless the holder takes action. This includes, but is not limited to, warrants, stock rights, convertible securities, bonds, and securities subject Future account disclosures may be delivered to you via the internet, including to a tender or exchange offer. You understand and agree that Merrill accepts as a message at the Secure Message Center. In certain cases, future account no obligation to notify you of any upcoming expiration or redemption dates, or, Disclosures may be delivered via statement message, statement insert or except as required by applicable law or regulation, to take any action on your stand-alone letter. behalf without specific instructions from you. You also agree that all dividends When you agree to the terms of this Agreement, you are agreeing that its and interest payments credited to your account shall accumulate rather than terms will apply to all of your MESD accounts, transactions and services. be paid to you upon receipt, but shall be subject to your withdrawal from time If you have any concerns about the services you receive under these terms and to time upon request for a check or other funds transfer. conditions, please contact Merrill Edge Self-Directed Investing at 877.653.4732. Notwithstanding the foregoing, in its capacity as an investment adviser Merrill may provide investment advice or recommend securities transactions or investment What to do if you have a problem strategies to you within certain investment advisory programs. To enroll in We sincerely hope to service your account in such a manner that problems such an investment advisory program, such as the Merrill Guided Investing will never occur. However, errors, misunderstandings or disputes can occur, Program, you may be required to establish and maintain a Merrill Edge Self- and we want to resolve them promptly and fairly. Directed Investing Account. Merrill acts as an investment adviser and not Reviewing your confirmations and statements — Please review your a broker-dealer for the investment advisory services provided within these confirmations and account statements promptly and let us know if there is investment advisory programs. To the extent that Merrill provides investment any discrepancy in terms of transactions or deposits or withdrawals of either advice or recommends any securities transactions or investment strategies funds or securities. to you within any such investment advisory program, you understand and agree that Merrill does so in its capacity as an investment adviser and not as a Whom to contact — If your concerns cannot be resolved or have not been broker-dealer. You will be required to enter into a separate agreement with Merrill properly addressed, you may contact Merrill Compliance at 609.274.4040, and its affiliates to participate in an investment advisory program. Pursuant to or in writing at P.O. Box 1520, Pennington, NJ 08534-1520. Section 5a of this Merrill Edge Self-Directed CRA, the terms governing any such investment advisory program will control if there are any inconsistencies with the terms of this Merrill Edge Self-Directed CRA. If your account serves as the securities account for a Merrill investment advisory program, certain features of Merrill Edge Self-Directed Investing, such as the Margin Lending Program, check writing, and Visa cards, may not be available to you. If your account serves Page 1 | Merrill Edge Self-Directed Investing Client Relationship Agreement Code 422000PM-1220 as the securities account for a Merrill investment advisory program and if, − Certain securities in your account may be loaned to Merrill or others to the for any reason, you terminate from the investment advisory program without extent not prohibited by applicable laws, rules or regulations. transferring the securities and assets out of your account, your account will be • Limits may be placed on your ability to buy, sell, transfer and hold certain a Merrill Edge Self-Directed Investing Account without any investment advisory securities, like low-priced securities, as identified by Merrill. relationship. As such, and as explained more fully in the preceding paragraphs, neither Merrill, nor any Merrill representative, will provide any investment advice • If you’ve requested a Visa® Card, you agree that: or give any advice or offer any opinion regarding the suitability of any security, − Merrill is authorized to issue you the Visa® Card you requested for use with order or transaction in a Merrill Edge Self-Directed Investing Account. eligible accounts, and you understand that Merrill or an affiliate may obtain Additionally, to the extent that you maintain other accounts or relationships a credit report due to your request. with Merrill or its affiliates under which you do receive investment advice or • If you’re establishing your relationship in a joint capacity, you agree that: management from us or our affiliate, you agree not to implement such advice in the account. − Any joint accounts you open in the future held by the same owners will have the same ownership designation you establish on this Agreement, If you do not feel comfortable with self-directing your retirement assets or unless you notify us otherwise in writing. would otherwise like to learn more about the benefits of our management If you are the custodian of an account opened under the Uniform Transfers to and advisory services and programs for Retirement Investors, please contact Minors Act (UTMA) or the Uniform Gifts to Minors Act (UGMA) as adopted by Merrill Edge Self-Directed Investing at 877.653.4732. any jurisdiction, you agree to comply with all requirements of the applicable UTMA or UGMA law, including but not limited to the requirements that you 3. Definitions (i) expend the UTMA or UGMA account assets only for the use and benefit of For the purpose of this Agreement, “you” and “your” refers to each person who the minor named on the account (the “Minor”), and (ii) upon the earlier of the has agreed to the terms in this Agreement. “Merrill,” “we,” “our” and “us” refer Minor’s attainment of the applicable termination age or the Minor’s death, to Merrill Lynch, Pierce, Fenner & Smith Incorporated, a registered broker-dealer

SMEAD FUNDS TRUST Supplement dated July 24, 2020 to the Prospectus dated March 30, 2020 Smead Value Fund Investor Class Shares (SMVLX) Class A Shares (SVFAX) Class C Shares (SVFCX) Class I1 Shares (SVFFX) Class R1 Shares (SVFDX) Class R2 Shares (SVFKX) Class Y Shares (SVFYX) This Supplement updates certain information contained in the Smead Value Fund Prospectus dated March 30, 2020. You should retain this Supplement and the Prospectus for future reference. Additional copies of the Prospectus may be obtained free of charge by calling the Fund (toll-free) at 877-807-4122 or by visiting the Fund’s website at http://smeadcap.com/smead-value-fund/. The last sentence of the paragraph in the section “Fees and Expenses of the Fund” in the Summary on page 1 of the Prospectus is hereby deleted in its entirety and replaced with the following: More information about these and other discounts and waivers is available from your financial professional and under “Shareholder Information – Class A Sales Charge Reductions and Waivers” beginning on page 18 of the Fund’s Statutory Prospectus, under “Exhibit A – Sales Charge Waivers” on page 39 of the Fund’s Statutory Prospectus, under “Exhibit B – Sales Charge Waivers” on page 41 of the Fund’s Statutory Prospectus and under “Additional Purchase and Redemption Information – Sales Charges on Class A Shares” beginning on page 35 of the Fund’s Statement of Additional Information (“SAI”). The second paragraph in the section “Shareholder Information - Choosing a Share Class - Contingent Deferred Sales Charge Waivers for Class A and Class C shares” on page 20 of the Prospectus is hereby deleted in its entirety and replaced with the following: Other waivers and/or discounts may apply with respect to a particular financial intermediary.

STOCK MARKET INVESTING FOR EVERYONE STOCK MARKET INVEST ING FOR EVERYONE How You Can Beat Wall Street At Their Own Game Audiobook Figures and Charts Kevin J. Davey 1 Kevin J. Davey Copyright © 2019 by Kevin J Davey. All Rights Reserved. All rights reserved. No part of this book may be reproduced in any form or by any electronic or mechanical means including information storage and retrieval systems, without permission in writing from the author. The only exception is by a reviewer who may quote short excerpts in a review. ISBN: 9781701767720 (paperback) Printed in the United States of America First Printing: October 2019 Visit my website at KJTradingsystems.com 2 STOCK MARKET INVESTING FOR EVERYONE CHAPTER 1–WHY SHOULD YOU INVEST IN STOCKS? Figure 1- Growth of Bank CD vs. S&P500 3 Kevin J. Davey CHAPTER 2-WHAT EXACTLY ARE STOCKS? Some of the most popular US brokers include: TD Ameritrade-www.tdameritrade.com Vanguard-www.vanguard.com Charles Schwab-www.schwab.com Fidelity-www.fidelity.com Interactive Brokers-www.interactivebrokers.com Tradestation-www.TradeStation.com E*Trade-www.etrade.com Merrill Edge-www.merrilledge.com Robinhood-www.robinhood.com Figure 2-Vanguard's Order Entry Screen 4 STOCK MARKET INVESTING FOR EVERYONE CHAPTER 4-STOCKS, CATEGORIZED Figure 3- Soon ETF Investments Will Surpass Mutual Fund Investments 5 Kevin J. Davey CHAPTER 5-ANALYZING AND TRADING STOCKS, UTILIZING RISK CAPITAL Figure 4- Typical Technical Analysis On A Price Chart 6 STOCK MARKET INVESTING FOR EVERYONE CHAPTER 6-INTRODUCING STOCK INVESTING TIERS- THE STOCK PICKING PYRAMID Figure 5- The Stock Market Picking Pyramid 7 Kevin J.

The RIC Report Investment Strategy | Global 08 January 2013 2013: back to the future Research Investment Committee MLPF&S The Cliff Compromise Kate Moore Equities rallied sharply in the first days of the New Year, following the last minute Global Equity Strategist MLPF&S congressional compromise on the Fiscal Cliff. While the deal was far from perfect, it averted not only a disaster for the US economy, but also a potentially painful hit Michael Hartnett to risk asset markets. Economist Ethan Harris points out that the compromise was Chief Investment Strategist a significant and very important first step to resolving the US fiscal picture. And MLPF&S critically for investors, consumers, and business leaders, it provided a measure of Swathi Putcha clarity. Though policy uncertainty will linger in early 2013, our base case for a Global Equity Strategist gradual pickup in economic growth throughout the year remains intact. MLPF&S The winners of 2012 See Team Page for Full List of Contributors Asset markets were fueled once again by policy and liquidity in 2012. Global central banks cut interest rates 75 times over the last year, while the balance sheets of the major CBs continued to inflate. Global equities returned a solid 17%, outpacing both bonds (5%) and commodities (-0.3%). EM equities outperformed DM equities, while EM and high yield bonds led fixed income. But in our view, the three most memorable stories of 2012 were the positive surprises in US housing, bank stocks, and Europe. Asset allocation & three reasons to own equities now After fixating on policy in the US and Europe over the last year, the RIC recommends investors focus back on the future of asset returns.

No-Load No Transaction Fee Mutual Funds1 Effective as of December 5, 2011 The following list contains No-Load No Transaction fee mutual funds as of 12/5/2011. You should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. AH LISANTI CAPITAL GROWTH DOMESTIC Fund Name Security Symbol ADAMS HARKNESS SMALL CAP GROWTH FUND ASCGX ALPS FUNDS DOMESTIC Fund Name Security Symbol RIVERFRONT LONG TERM GROWTH FUND RLTSX AMANA DOMESTIC Fund Name Security Symbol AMANA GROWTH FUND AMAGX AMANA INCOME FUND AMANX AMERICAN BEACON FUNDS Fund Name Security Symbol AMERICAN BEACON RTRMENT INC AND APP FD AANPX AMERICAN BEACON EMERGING MARKETS FD AAEPX AMERICAN BEACON HIGH YIELD BOND FD AHYPX AMERICAN BEACON INTERNATIONAL EQUITY FD AAIPX AMERICAN BEACON BALANCED FUND AABPX AMERICAN BEACON SMALL CAP VALUE FUND AVPAX AMERICAN BEACON SHORT TERM BOND FUND AALPX AMERICAN BEACON S&P 500 INDEX FD AAFPX AMERICAN BEACON LARGE CAP VALUE FD AAGPX AMERICAN BEACON INTERM BOND FD ABIPX AMERISTOCK DOMESTIC Fund Name Security Symbol AMERISTOCK MUTUAL FUND AMSTX Merrill Edge® is available through Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S), and consists of the Merrill Edge Advisory Center™ (investment guidance) and self-directed online investing. MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of Bank of America Corporation. Investment products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value AQR FUNDS DOMESTIC Fund Name Security Symbol AQR MANAGED FUTURES STRATEGY

Tradestation Rated “Best for Frequent Traders” for Third Consecutive Year in Barron’S Magazine’S Annual Ranking of Online Brokerage Firms

For Immediate Release TradeStation Rated “Best for Frequent Traders” for Third Consecutive Year in Barron’s Magazine’s Annual Ranking of Online Brokerage Firms Also Rated “Best Trading Experience and Technology” and Given Highest Star Rating for “International Traders” Plantation FL, March 11, 2013 – TradeStation, a Monex Group company (TSE: 8698) and award-winning broker-dealer and futures commission merchant, was ranked “Best for Frequent Traders” in Barron’s magazine’s annual review of online brokerage firms, now in its eighteenth year. TradeStation topped 23 other leading online brokers in the frequent trader category, including Interactive Brokers, TDAmeritrade, Charles Schwab, Fidelity, E*TRADE, Scottrade, Merrill Edge, tradeMonster, and optionsXpress. In rating TradeStation “Best for Frequent Traders” and awarding it the highest rating for “Trading Experience and Technology,” Barron’s noted that “TradeStation offers an incredible platform…. The trading experience can be completely customized, allowing you to trade from grids, charts, or market-depth screens.” Winning the “Best for Frequent Traders” ranking for the third consecutive year cements TradeStation’s position as the leading online broker for the active trader and investor markets. TradeStation also received the highest star rating for “International Traders” for the second year in a row and third time overall. Barron’s went on to praise TradeStation for offering traders “help when you first become a TradeStation customer, with support staff figuring out where you are in your trading career and helping you customize the flexible platform for your needs. There are numerous Webinars available throughout the week to keep you in touch with the markets, from a weekly futures market outlook to a daily stock-market session.

Merrill Personal Advisor Progra Client Agreement Mutual Fund Investing at Merrill Lynch A Client Disclosure Pamphlet January 2021 Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park New York, N.Y. 10036 1.800.MERRILL 1 CCooddee 331111661199PPMM--00221100 Table of Contents Introduction 2-3 U.S. Registered Mutual Fund Share Classes 3–7 Front-End Sales Charge and Contingent Deferred Sales Charge (CDSC) Waivers and Discounts at Merrill Lynch 7-8 Asset-Based Fee Programs 8-9 Retirement & Benefit Plan Services Programs 9 Merrill Edge® Self-Directed Investing 9-10 Compensation of Merrill Lynch Financial Advisors and Their Managers 10-12 Additional Merrill Lynch Services and Compensation 12-14 Money Market Mutual Funds 14-16 Purchases, Sales and Transfers 16 Other Services 16-17 Appendix 18 Mutual Funds are not FDIC insured; are not deposits or obligations of, or guaranteed by, any financial institution; and are subject to investment risks, including possible loss of the principal amount invested. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Prospectuses for mutual funds can be obtained through the investor’s sign-in area of merrilledge.com. Clients of Merrill Advisory Center can also call 1.888.654.6837. If you’re not currently a Merrill Edge client, please call 1.888.637.3343. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”).

University of Arkansas, Fayetteville ScholarWorks@UARK Finance Undergraduate Honors Theses Finance 5-2021 The Evolution of Investing Bradyn Papke Follow this and additional works at: https://scholarworks.uark.edu/finnuht Part of the Finance and Financial Management Commons Citation Papke, B. (2021). The Evolution of Investing. Finance Undergraduate Honors Theses Retrieved from https://scholarworks.uark.edu/finnuht/62 This Thesis is brought to you for free and open access by the Finance at ScholarWorks@UARK. It has been accepted for inclusion in Finance Undergraduate Honors Theses by an authorized administrator of ScholarWorks@UARK. For more information, please contact [email protected]. The Evolution of Investing by Bradyn David Papke Advisor: Dr. Thomas Hayes An Honors Thesis in partial fulfillment of the requirements for the degree Bachelor of Science in Business Administration in Finance Sam M. Walton College of Business University of Arkansas Fayetteville, Arkansas May 7, 2021 1 Introduction We live in a world that is constantly changing. The world of business is no different. The name of the game is innovation. How can companies innovate to stay relevant in the minds of their consumers while also remaining profitable? The investment industry has seen one of the biggest evolutions this century. If someone were asked what the investment industry looked like 15-20 years ago, their response would most likely depict a trading floor, lots of yelling and screaming, money-hungry brokers, and complicated numbers and symbols on a bunch of screens that they do not even want to try to understand. Technology and the idea of Corporate Social Responsibility has vastly changed that view.

THE DOW JONES BUSINESS AND FINANCIAL WEEKLY www.barrons.com MARCH 20, 2017 SPECIAL REPOR%T Amid price cuts, Fidelity repeats as Barron’s Best Online broker, nosing out Interactive Brokers. One More Reason to Buy Online by Theresa W. Carey The bull market is on sale for online cial-advice decisions. Barron’s own reader sion only for opening a position—$5 for brokerage customers. survey shows that the majority of respon- equities and $1 per contract for options. In the run-up to our 22nd annual rank- dents want to keep their costs at a bare Closing a position is free. ing of Barron’s Best Online Brokers, two minimum. As much as we admire tastyworks, it developments topped all others: The three “But cost is just one piece of the puz- seems unlikely that a small newcomer major indexes—the Dow Jones Industrial zle,” as Metzger says. Barron’s encourages could cause such an upheaval. Schwab, Average, the Standard & Poor’s 500, and investors to look at the entire set of ser- one of the largest online brokers, both by the Nasdaq Composite—all set record vices a broker provides, including research assets under management and by number highs, and six brokers slashed commis- and education offerings, and then decide of clients, isn’t a nimble little sailboat that sions and other fees. At the 16 brokers we whether the commissions assessed provide reacts to every passing breeze. It is, rather, reviewed this year, the average monthly adequate value. a large ship—and it can take time to change cost of trading for an occasional investor Cost is an element in our rankings, and headings.

FinTech: Shaping the Financial World April 29, 2020 1 Class 9: Overview • Online Brokerage • Robinhood & Zero Commission Trading • Robo Advisors • Capital Markets FinTech Startups • Crypto Exchanges, Lending & Decentralized Finance 2 Class 9: Readings • 'How Robinhood Changed an Industry' John Divine, US News • 'Charles Schwab and the New Broker Wars' Daren Fonda, Bloomberg • 'Robo-Advisors: Product vs. Platform' Henry O’Brien, The Startup 3 Class 9: Study Questions • How did online brokers emerge during an earlier stage of FinTech development? How were Robinhood and this era’s FinTech startups able to further disrupt the brokerage world? • How are Robo Advisors transforming the provision of retail asset management services? How has Big Finance - incumbent asset managers and banks - reacted? • What are FinTech trends and applications affecting trading, asset management & capital market infrastructure? 4 Online Brokerage Company Landscape • Retail Brokers: Charles Schwab / TD Ameritrade (1971) – 12M each, E*TRADE (1982) – 5.2M, Firstrade (1985), Interactive Brokers (1978) – 0.8M, LBMZ Zacks Trade (1978), Monex TradeStation (1999 / 1982) • Asset Managers: Fidelity (1946), Vanguard (1975) • Banks: JP Morgan You Invest (1871 / 2018), Merrill Edge (1914 / 2010), Ally Invest (1919 / 2016) 4M • FinTech Startups: Freetrade (2016), Public (2017), Robinhood (2013) - 10M, Stash (2015) – 3.5M, Tastyworks (2017), Upstox (2012), Webull (2017) 5 Mobile Trading – App Comparison © Reink Media Group LLC. All rights reserved. This content is excluded from

WSJ WSJ LIVE MARKETWATCH BARRON'S DJX MORE News, Quotes, Companies, Videos SEARCH ASIA EDITION U.S. EDITION Welcome, BARRONS Customer Center Logout HOME MAGAZINE DAILY INVESTING IDEAS ADVISOR CENTER MARKET DATA PENTA BARRON'S NEXT BEST ONLINE BROKERS Barron’s 2017 Best Online Broker Ranking Fidelity takes the top spot, with Interactive Brokers and TD Ameritrade right on its heels Email Print 4 Comments Order Reprints By THERESA W. CAREY March 18, 2017 William Waitzman for Barron's The bull market is on sale for online brokerage customers. In the run­up to our 22nd annual ranking of Barron’s Best Online Brokers, two developments topped all others: The three major indexes—the Dow Jones Industrial Average, the Standard & Poor’s 500, and the Nasdaq Composite—all set record highs, and six brokers slashed commissions and other fees. At the 16 brokers we reviewed this year, the average monthly cost of trading for an occasional investor had fallen 25% since early 2016, to $47.51 from $63.45. That means more of the market’s gains are ending up in the pockets of self­directed online traders. Most Popular Table: How Online Brokers Stack Up 1. 5 Ways to Invest in Water How We Ranked the Brokers 2. Kill the Border Adjustment Tax Charles Schwab kicked off the price wars by cutting its base commission from $8.95 to $6.95, and after a flurry of activity, six brokers settled into reduced­fee structures. 3. Barron’s 2017 Best Online Broker Following a second cut, Schwab now charges $4.95 per equity trade, as does Firstrade.

COVER STORY Where to put your money We judge advice and brokerage service at major financial companies eposit $75,000 or more into ings or income analysis prepared by an ad- how clients seeking advice are served. And a new or existing brokerage ac- visory counsel under the supervision of a we asked major financial-services compa- count at Charles Schwab and certified financial planner. Vanguard of- nies to prepare investment plans based on you could be eligible for a new fers a free plan by a CFP if you transfer or the profiles of five of those staff members. DAndroid smart phone. Move your money roll over at least $100,000. Two independent financial planners and to TD Ameritrade and get 60 days of Whether you’re a seasoned investor, a commission- free online trading and a pos- newbie, or someone retesting the waters sible bonus of up to $600. Bank of Ameri- after a scary loss, financial-services com- 1 DID YOU KNOW? ca’s Merrill Edge has up to $500 waiting panies want your business. But aside from for anyone opening a new IRA. potential incentives, what will you get for At Fidelity and Schwab, clients can get moving your accounts? Is the service up to a complimentary investment plan created par? Is even free advice worth your time? by a financial adviser. Merrill Edge has a Consumer Reports investigated what similar offer for clients with less than financial-services companies are really $250,000 in “investable assets”—stocks, providing to their customers. We surveyed bonds, and mutual funds, for instance.

WELLS FARGO APPLIES ED JONES DIVERSITY PUSH FINRA TARGETS COSTLY KILL THE ESTATE TAX 4NEW ADVISORY FEE 5 STIRS CONTROVERSY 20 529 SHARE CLASSES 26 OR BROADEN IT? FEBRUARY 4-8, 2019 THE LEADING INFORMATION SOURCE FOR FINANCIAL ADVISERS $5.00 / $89 Year SHERYL GARRETT, GARRETT PLANNING NETWORK ICONS& INNOVATORS FEARLESS EXPERIMENTORS AND THEIR BIG IDEAS FOR THE ADVICE PROFESSION TAKE CENTER STAGE PAGE 10 NEWSPAPER | VOL. 23, NO. 5 | COPYRIGHT INVESTMENTNEWS LLC. | ALL RIGHTS RESERVED INVESTMENTNEWS.COM Joseph F. Hohn Joel P. Schneider Lukas J. Smart, CFA Dimensional Fund Advisors Ranked the #1 provider of JOHN HANCOCK MULTIFACTOR ETFs multimanager investments by financial advisors At John Hancock Investments, we search the world to fi nd proven portfolio teams with specialized expertise for every strategy we offer, then we apply robust investment oversight to ensure they continue to meet our uncompromising standards and serve the best interests of our shareholders. Discover our multimanager approach at jhinvestments.com. Dimensional Fund Advisors is a subadvisor of John Hancock Multifactor ETFs. Ranking is by Market Strategies International, Brand Tracking Study, 2017; Cogent Reports, Investor Brand Builder, 2017. Investing involves risks, including the potential loss of principal. See the prospectuses for details. Request a prospectus or summary prospectus from your fi nancial advisor, by visiting jhinvestments.com, or by calling us at 800-225-5291. The prospectus includes investment objectives, risks, fees, expenses, and other information that you should consider carefully before investing. © 2019 John Hancock. All rights reserved. John Hancock Multifactor ETFs are distributed by Foreside Fund Services. IN011658_left.indd 2 1/22/19 1:28 PM Joseph F.