While technology can simplify investing and deliver real-time information, it's no substitute for human insight and skill. That's why Merrill relies on the investment professionals from the Chief Investment Office ('CIO')* team to manage the portfolio strategies and investment selection for all of the Guided Investing accounts. The CIO * investment professionals focus on asset allocation, investment analysis and portfolio construction for Merrill Guided Investing accounts. Their work involves: Creating strategic asset allocation models Building the investment portfolios Making short-term tactical adjustments Review and selection of ETFs and mutual funds for the strategies Strategy review and oversight * The Chief Investment Office (CIO) develops the investment strategies for Merrill Guided Investing, including providing its recommendations of ETFs, mutual funds, and related asset allocations. Managed Account Advisors LLC (MAA), Merrill's affiliate, is the overlay portfolio manager responsible for implementing the Merrill Guided Investing strategies for client accounts, including facilitating the purchase & sale of ETFs and mutual funds in client accounts and updating account asset allocations when the CIO's recommendations change while also implementing any applicable individual client or firm restriction(s).