The Omaha Group at Morgan Stanley. Private Wealth Management Grounded in experience. Driven by value. Built to serve you.

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1 The Omaha Group at Morgan Stanley Private Wealth Management Grounded in experience. Driven by value. Built to serve you.

2 13625 California Street Suite 400, Omaha, Nebraska / MAIN / TOLL-FREE / FAX

3 The Omaha Group at Morgan Stanley Value Investing, Hometown Roots Hard work, trust, diligence and education these are principles core to your values. Sound wealth management comes from working with advisors who construct a financial strategy grounded in these merits, developing the tools that enable you to reach for your goals. Proper planning requires more than just selecting products off a shelf. You want someone who puts your interests first, is direct about options, and offers clarity into the investments that create confidence in the decisions. Wherever your path takes you whether you re looking to finance a daughter s new home or rebuild a family after an unexpected loss a personal and thorough financial plan enhances the outcome. By overseeing our clients portfolios personally, rather than depending on outside managers, we stay true to our hometown roots, keeping your interests as close as our own. As your Financial Advisor, The Omaha Group listens to your passions and future plans and helps pave the road for your individual journey. Working with clients for more than 30 years, we ve walked them through every step of their financial voyage not just as their Financial Advisor, but as a friend. Create the future you envision for yourself and for your family. THE OMAHA GROUP 3

4 Meet The Omaha Group The Omaha Group traces its roots back to 1980, where our partners launched their careers and the genesis of their partnership. Our bonded team can address the multiple stages of our clients lives and of their children s lives as well. Conferring regularly, our partners resolve issues swiftly and decisively, to guide clients along their financial path today. Left to right: Bob Howard, Nathan Farmer, John Dahir, Nick Bedlan, Patrick DiBiase, Michelle Mayo 4 MORGAN STANLEY

5 John A. Dahir Portfolio Management Director Senior Vice President, Wealth Management Financial Advisor Patrick J. DiBiase Portfolio Management Director Senior Vice President, Wealth Management Financial Advisor John began his career with Charles Heider Co. in 1980, a regional investment firm that would eventually become Morgan Stanley, where he would meet the future partners of The Omaha Group. With more than 33 years in financial and investment services, John serves as the team s lead manager handling the construction of core equity portfolios within the Portfolio Management Program. His dedication to providing clients with the highest level of customer service earned John the 25 Year Dedicated & Loyal Service Award from Morgan Stanley, and a position on its President s Council in Graduating from Omaha s Creighton Preparatory School in 1973, John later obtained a Bachelor of Science in business administration from the University of Nebraska-Lincoln, where he swam as a four-year letterman. Still an avid swimmer, John also enjoys reading, traveling, staying fit and spending time with his wife, Melissa, and their two daughters, Jaime and Isabella. john.a.dahir@morganstanley.com Starting his financial career at Charles Heider Co. in 1982, Pat would meet John and Bob with the three later forming the cornerstone of The Omaha Group. With 31 years in financial services, Pat applies his investment acumen to comprehensive wealth planning and portfolio management for clients, with his advocacy for their interests earning him a coveted seat on Morgan Stanley s President s Council in Pat continues to pursue expectations to enhance his professional expertise, completing the Morgan Stanley Financial Advisor program at the Wharton School of Business in Pat s commitment to his professional career is also evident in his educational and philanthropic endeavors. After graduating from Omaha s Westside High School in 1973, Pat earned a Bachelor of Science in education from the University of Nebraska-Lincoln, was named to the prestigious Innocents Society, and swam as a Big Eight Conference champion. His passion for swimming led Pat to serve as the head coach for Marian High School s swim team, guiding them to eight straight state titles and garnering him Omaha World Herald s Coach of the Year in Pat sees his experience as both an educator and coach valuable to his clients in helping them learn the importance of planning and investing in their future security. He believes the more clients understand the process, the more committed they will be choosing the correct course of action for their personal situations. Pat and his wife of 33 years, Sharon, live in Omaha, and enjoy spending time with their daughter Libby, and grandson, Cruz. patrick.dibiase@morganstanley.com THE OMAHA GROUP 5

6 Robert S. Howard Financial Planning Specialist First Vice President, Wealth Management Financial Advisor Nathan P. Farmer, CFP Senior Portfolio Manager Associate Vice President, Wealth Management Financial Advisor Nicholas J. Bedlan, CFP, CIMA Senior Portfolio Manager Financial Advisor After launching his investment career with the Charles Heider Co. 32 years ago, Bob met John and Pat with the three eventually forming the senior members of The Omaha Group. Particularly attuned to the concerns clients face as they approach their retirement years, Bob brings his expertise to the financial and estate planning details that arise when overseeing their wealth management needs. Bob applies the same focus and dedication he brings to The Omaha Group, to his volunteer aims as well, serving on numerous charitable and educational boards including past chair of the board and chair of student affairs and recruitment at Clarkson College, trustee of the Robert H. Storz Foundation, as well as chair of the investment committee and treasurer of the board at Bellevue University. A graduate of Southern Methodist University, Bob earned a Bachelor of Science in business administration after finishing Omaha s Westside High School in With an inherent interest in investing since he was young, Bob reads financial periodicals as others read novels, always eager to learn about new and upcoming companies whose prospects appear promising. robert.s.howard@morganstanley.com Nate began his financial service, career 13 years ago as a Certified Public Accountant (CPA) with Seim, Johnson, Sestak & Quist, LLP, in his hometown of Omaha, joining Morgan Stanley in Although no longer a practicing CPA, his experience offers The Omaha Group s clients a unique perspective on the tax and accounting details that affect retirement, employer-based 401(k)s, business and tax planning. He deeply values the difference he can make for his clients by offering them his professional knowledge, personalized counsel and service, as well as his financial skills. Nate believes there is a significant need for trusted financial advice offering educated clients wise counsel and service. Graduating Nebraska Wesleyan University with a Bachelor of Arts in accounting and finance in 2000, Nate continues to pursue experiences that enhance his professional responsibilities to clients. He holds a CERTIFIED FINANCIAL PLANNER designation, as well as FINRA Series 7, 65, and 63 licenses, and is thankful that he has the opportunity to use his skills to make a meaningful difference in people s lives. Living in Omaha, he works closely with the Big Brothers Big Sisters of the Midlands, providing one to one mentoring services to young girls and boys in the Omaha and Council Bluffs areas. Nick s experience working with high net worth clients brings The Omaha Group an expertise in solving the complex issues of building and sustaining substantial wealth. From holding concentrated positions in illiquid securities, to the formation of foundations, Nick understands how these concerns impact portfolios, and examines tax strategies to mitigate their affects for wealthy individuals and families. Before returning to Nebraska and joining the team in 2008, Nick spent five years with Merrill Lynch s Private Banking & Investments Group in Los Angeles as a financial analyst, catering to client accounts of $10 million and more, and evaluating their options. A graduate of Nebraska Wesleyan University, Nick earned his Bachelor of Science in finance, with a minor in Economics in 2001, continuing his professional education over the past decade. Fascinated by stocks since grade school, Nick pursues value investing strategies, not just for his clients, but as a hobby as well. He is a credentialed CERTIFIED FINANCIAL PLANNER as well as a Certified Investment Management Analyst, bringing his training and experience to The Omaha Group and its family of clients. He and his wife, Ashley, live in Elkhorn with their two daughters, Anabel and Birdie. nathan.p.farmer@morganstanley.com nicholas.j.bedlan@morganstanley.com MORGAN STANLEY

7 Michelle M. Mayo Senior Client Service Associate Heidi L. Alikpokou Client Service Associate With more than 25 years of brokerage experience, Michelle is a valuable member of The Omaha Group, working closely with clients on their questions and concerns. She supports administrative matters including account maintenance and service requests, along with the team s regular communication with clients. Michelle is an advocate for the Nebraska Humane Society, volunteering with the nonprofit as well as the Bulldog Rescue network based in Omaha. She also enjoys traveling, running and staying fit. michelle.m.mayo@morganstanley.com With more than 8 years of financial services experience, Heidi is the newest member of The Omaha Group, working closely with clients on their questions and concerns. She directs our world class customer experience thru our Supernova program as well as handling administrative matters including account maintenance and service requests. Heidi is an active supporter of Habitat for Humanity and volunteers regularly. She and her husband, Hermann, live in Omaha with their two daughters, Aubrey and Sidney. heidi.alikpokou@morganstanley.com

8 Building Your Legacy Step by Step We start by listening to you your dreams, your concerns and, more importantly, the legacy you hope to leave for you and your family. That first step together leads us along a path where we construct a portfolio that dovetails to your personal objectives. As a boutique firm, we have the ability to guide you along every turn, helping you construct a wealth strategy plan that is uniquely yours Select By working with a select number of clients, we are stewards of your investments, creating a customized portfolio tailored to your wealth management goals. 2 Focus We interview you about what matters most and what you hope to accomplish with your wealth. We explore your values, your key relationships along with your assets. 3 Design We create a customized portfolio tailored to your wealth goals. We conduct thorough, rigorous research, carefully studying balance sheets and liquidity issues. 8 MORGAN STANLEY

9 The Boutique Experience Discern With an eye on the longterm, we seek goalfocused returns rather than those predicated on economic trends. 6 Respond Clients can expect to hear from us proactively in scheduling reviews, and updating portfolios should changes arise. We are responsive. 8 Accountability Our team personally manages each client s portfolio in-house rather than the popular trend of delegating money management roles. 10 Transparency By focusing on individual stocks and bonds, our clients know what they own and understand why. 10 Commit We are committed to our clients. Understanding our relationship is a voyage we take with you, and your family. 5 Monitor With an investment manager on-site, we can secure answers to portfolio questions quickly, scheduling in-person reviews as requested. 7 Educate We strive to educate all generations, encouraging children and grandchildren be involved in investing and financial decisions. 9 Structure Our well-defined team ensures your needs are addressed, your concerns answered swiftly. 11 Care We focus exclusively on a select number of companies and invest in them ourselves as well. Clients interests are treated with the same care as our own. 13 Empower As we embark on this financial journey with you, we equip our clients with the strategies to reach for their long-term financial goals and personal dreams.

10 Our Investment Philosophy Investing is most intelligent when it is most businesslike. Benjamin Graham Search For Value We practice old-fashioned, fundamental value investing using only the traditional asset classes of common stocks, bonds, and cash. Our goal is simple: identify securities that sell for considerably less than their value to a private owner. If there are no securities that meet our stringent criteria, we are content to hold cash. A Business Approach We encourage our clients to think and act like business owners rather than stock market participants. We do not distinguish between analyzing a business and analyzing a stock. The two are linked because the value of a stock is simply the value of the business divided by the number of outstanding shares. We focus on two things: price and value. We search for discrepancies between the value of a business and the price of small pieces of that business in the market. Our goal is to invest in a handful of terrific businesses that we fully understand, but only when we can purchase them at a discounted price. Even a fantastic business can prove a poor investment if the price paid is too high. Quality and Price In general we compare the quality and prices of various businesses that we understand to the other investment options available to our clients. The easiest comparison available to us is government bonds. In our opinion, a security can be determined a bargain to the extent that it can produce a return larger than the yield on government bonds. The larger the spread, the more interested we will be. If we cannot find such circumstances, we are content to hold cash or purchase bonds. Growth Our equity portfolios tend to be focused, generally holding between 10 and 20 companies. We think it makes little sense to put money into your 40th favorite idea when you could just buy more shares of your 3rd or 4th favorite idea. Income We use fixed income securities to help build portfolios that can potentially provide clients with more income and less volatility than those constructed solely of common stocks. For some of our clients, these objectives are paramount, and we manage portfolios consisting entirely of fixed-income instruments for those clients. Growth & Income Finally, many clients prefer a combination of growth and income. In these circumstances, we build them a balanced portfolio consisting of a customized mix of common stocks, bonds, and cash. Nothing focuses the mind more on researching companies than having one s own money on the line. Shelby M.C. Davis 10 MORGAN STANLEY

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13 A Wealth of Possibilities Your needs can change throughout your lifetime. Today, you re seeking to build a lifestyle for your retirement. Tomorrow, you may want to endow your grandchild with a college education. We provide you solutions tailored to your financial journey, customizing a solution for you. Retirement Planning Lifestyle and risk review Cash flow analysis Insurance review (life, annuities, disability, long-term care) Pension and/or social security benefits analysis Retirement account assessment Retirement income plan Beneficiary review Health care/medicare planning Discretionary Portfolio Management Asset allocation Rebalancing Investment selection of stocks, fixed income (municipal, government and corporate bonds) Investment portfolio analysis Investment Services and Personal Investing Tax-efficient investing Investment advisory programs Capital markets services Traditional brokerage Family Needs Planning Financial planning Education planning Special needs child assessment and planning Planning for support of aging parents Access to Private Banking and Lending Services Business Succession Planning Business needs review Cash management and capital needs assessment Business valuation Succession plan documents Succession plan funding Estate Planning Review of wills, durable power of attorney (POA) for health care/ POA living will and trusts Gifting Charitable giving Asset titling Estate tax funding Family dynamics/family meeting THE OMAHA GROUP 13

14 Recognition John A. Dahir earned Morgan Stanley s 25 Year Dedicated & Loyal Service Award, and was named to the firm s President s Council in Patrick J. DiBiase first earned his seat on Morgan Stanley s President s Council in Robert S. Howard earned Morgan Stanley s 25 Year Dedicated & Loyal Service Award, and became a member of the firm s Century Club in Nathan P. Farmer became a member of Morgan Stanley Wealth Management s Pacesetter s Club in Nicholas J. Bedlan earned a seat on Morgan Stanley Smith Barney s Blue Chip Council in 2009, and became a member of the Morgan Stanley Wealth Management Pacesetter s Club in MORGAN STANLEY

15 Concierge Service, Incisive Strategy Working with a select number of clients, we are stewards of your investments, dedicated to creating a customized portfolio tailored to your wealth management needs. Every concern is addressed rapidly, any issue resolved without delay. Clients interests are treated with the same care as our own. With an incisive investment style and a prudent financial practice, we enable clients to enjoy their life, knowing they have a plan for their long-term goals, and their future.

16 This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The strategies and investments discussed in this material may not be suitable for all investors. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments and strategies and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investors individual circumstances and objectives Morgan Stanley Smith Barney LLC. Member SIPC. CRC CS /14