BAM currently has a brokerage agreement with Schwab Advisor ServicesTM ("Schwab") for its wrap fee program and may enter into brokerage agreements with additional broker-dealers in the future. I don't know if this says anything to those who follow L2. https://www.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=391536