Asset allocation does not ensure a profit or protect against loss. Sector-Based – Due to their narrow focus, sector-based investments typically exhibit greater volatility. Small Cap Equity – Small company stocks may be riskier and more volatile than larger, more established company stocks. International – International investing is subject to the risk of currency fluctuations and political and economic events. Emerging Markets – Investing in emerging markets may involve greater risk and volatility than investing in more developed countries. Fixed Income – When investing in bonds and interest rate-sensitive securities, it is important to note that as interest rates rise, bond prices will fall. Bond laddering does not assure a profit or protect against loss. Yields and market values will fluctuate, and if sold prior to maturity, bonds may be worth more or less than the original investment. Alternatives – Alternative assets may include, but are not limited to: Real Estate Investment Trusts (REITs), Futures, Limited Partnerships, etc. Real Estate – When investing in real estate companies, property values can fall due to environmental, economic, or other reasons, and changes in interest rates can negatively impact the performance. Futures – The risk of loss in trading futures can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Limited Partnerships – Generally, limited partnership investments are suitable only for a narrow class of relatively sophisticated investors. Limited partnership investments may be speculative in nature and be subject to resale restrictions or illiquidity. An investment is appropriate only for investors who have the capacity to absorb a loss of some or all of their investment.

Investors should consider a fund’s investment objective, risks, charges, and expenses carefully before investing. Prospectuses for mutual funds and exchange traded funds (ETFs) offered in strategies are available through your Financial Advisor and include this and other important information. You should read the prospectus carefully before investing. The investment return and principal value will fluctuate; and an investor’s shares, when redeemed, may be worth more or less than their original cost. ETFs trade throughout the day like a stock and may trade for less than their net asset value. Mutual funds charge advisory fees and other internal expenses that are separate and distinct from the annual fee charged by Stifel.

There may be other costs associated with strategy programs, including but not limited to exchange fees, transfer taxes, interest expense, and closing costs. Ask your Financial Advisor for a Disclosure Brochure and Client Agreement, which further outline the fees, services, and disclosures associated with these strategies. Investors should consider all terms and conditions before deciding whether a particular strategy or program is appropriate for their needs. Minimum investments apply.