About Syntrinsic

Investment advisory services provided by IMA Advisory Services, Inc., (IMAAS) (CRD #112091), doing business as Syntrinsic.  IMAAS is a federally registered investment adviser under the Investment Advisers Act of 1940.  Registration as an investment adviser does not imply a certain level of skill or training. IMAAS is also a registered insurance agency. The Form ADV Part 1A, 2A and Form CRS for IMAAS and Syntrinsic can be obtained by visiting: https://adviserinfo.sec.gov and search for our firm name.

Syntrinsic began as an independent registered investment adviser, founded in August 2008 as Syntrinsic Investment Counsel LLC.  In 2023, Syntrinsic Investment Council was acquired by IMA Advisors LLC (“IMA Advisors”), which is a wholly owned subsidiary of IMA Financial Group, Inc. (“IMA”).  In January 2025, Syntrinsic merged with its affiliate IMAAS though it continues to operate as an independent business unit, providing continuous services to its clients.

Information presented herein regarding Syntrinsic’s clients and assets under advisement is solely attributable to the Syntrinsic business unit of IMAAS. Assets under advisement (“AUA”) refers to assets for which Syntrinsic provides consultative advice in a non-discretionary capacity, and is calculated separately from, and not included in, the regulatory assets under management (“AUM”) disclosed on our Form ADV.

Performance results, including hypothetical performance

The performance results achieved by Syntrinsic were attained by the investment professionals employed at Syntrinsic Investment Counsel (2008-2023) and Syntrinsic LLC (2023-2024).  More specifically, Ben Valore-Caplan managed Syntrinsic client accounts since the inception of Syntrinsic Investment Counsel in 2008.   Akasha Absher managed Syntrinsic client accounts since joining Syntrinsic Investment Counsel in 2013.  While under the management of Mr. Valore-Caplan and Ms. Absher, the investment objectives, policies, and strategies of client accounts were substantially similar in all material respects to the management of client accounts under IMAAS.   The past performance of Syntrinsic Investment Counsel and Syntrinsic LLC is not indicative of the past or future performance of the IMAAS.

All investments involve risk including the loss of principal.  Since Syntrinsic manages its client portfolios according to each client’s specific investment needs and circumstances, Syntrinsic cannot affirm that its reported performance returns are similar to all accounts.    This is due in part to the timing of trades by the adviser, market conditions, cash availability, and the timing of client deposits and withdrawals.  Therefore, prospective clients should not assume that similar performance results to those shown would have been achieved for their accounts had they been invested in the strategy during the period.

Certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of terms such as “may”, “will”, “should”, “seek, ” “expect”, “anticipate”, “project”, “estimate”, “intend”, “continue,” “target” or “believe” (or the negatives thereof) or other variations thereon or comparable terminology. Due to various risks and uncertainties, including those set forth in the risk factor section in the Syntrinsic Brochure, actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. No representation or warranty is made as to future performance or such forward-looking statements

Hypothetical Performance. In instances where hypothetical performance is displayed, the hypothetical results do not represent actual client portfolios and we make no representation that actual client accounts will achieve results similar to those shown. Hypothetical performance is based on various assumptions which can differ from actual results. Hypothetical performance is subject to inherent limitations, including that the information was prepared using historical data with the benefit of hindsight and does not involve any financial risk of loss that a client would otherwise bear. Thus, the performance returns should not be considered indicative of the skill of the Adviser or its investment professionals.

All strategies depicted were available throughout the performance period shown unless otherwise noted. Hypothetical results are presented net of advisory fees.

Market Commentary

We have prepared our market commentary and capital market assumption materials based on third-party sources we deem to be reliable; however, we do not guarantee or represent the accuracy or completeness of any information contained herein. Forecasts, opinions, forward-looking statements, estimates, and projections (and statements referencing “expect,” anticipate,” “target,” and similar terminology) represent Syntrinsic’s views as of the date of publication, are subject to uncertainty, and may be changed without notice. Any references to specific investments or performance are provided for illustrative purposes only and do not constitute investment recommendations.

Nothing in these materials constitutes a recommendation to invest in, and should not be relied on to make such an investment in, any particular security. Investment decisions should be made after taking into consideration relevant objectives, goals, and risks, among other factors.

One cannot invest directly in an index. An index is unmanaged and therefore is not subject to transaction costs, fees or expenses that would otherwise be applicable. We may use investment strategies or employ a different concentration of assets than the indices do, which can cause performance and volatility to differ from that of a given index.

Syntrinsic does not provide tax or legal advice. Consult your investment, tax and legal advisors before making investments.