International Equity

RISK CONSIDERATIONS:

All investment and trading activities risk the loss of capital, and no assurance can be given that the investment activities of a client’s account will achieve the investment objectives of such account or avoid losses. Direct and indirect investing in securities involve risk of loss that clients should be prepared to bear. Past performance is not indicative of future results. All information provided has been prepared solely for informational purposes and does not constitute an offer or a recommendation to buy or sell any particular security or to adopt any specific investment strategy.

There is no assurance that a separately managed account (SMA) will achieve its investment objective. SMAs are subject to market risk, which is the possibility that the market values of the securities in an account will decline and that the value of the securities may therefore be less than what you paid for them. Market values can change daily due to economic and other events (e.g., natural disasters, health crises, terrorism, conflicts, and social unrest) that affect markets, countries, companies, or governments. It is difficult to predict the timing, duration, and potential adverse effects (e.g., portfolio liquidity) of events. Accordingly, you can lose money investing in an SMA.

Diversification does not protect you against a loss in a particular market; however, it allows you to spread that risk across various asset classes.

The MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US and Canada.

It is not possible to invest directly in an index. Indexes are unmanaged and do not reflect the deduction of expenses, fees, and other expenses. Any index referred to herein is the intellectual property (including registered trademarks) of the applicable licensor. Any product based on an index is in no way sponsored, endorsed, sold, or promoted by the applicable licensor, and it shall not have any liability with respect thereto.