The Equity Income Plus Strategy

Designed to produce a long-term total return, by combining current and growing dividends with appreciating share prices. The dividend yield of the strategy is expected to exceed the dividend yield of the S&P 500.

The strategy will consist of 28 stocks. Twenty stocks will be predominantly Large Capitalization companies, which currently pay dividends. Eight positions will be higher-yielding securities from areas of the market often associated with above-average dividend yields, real estate investment trusts (REITs), business development companies (BDCs), and higher-yielding C-corporations. The capitalization of the eight positions will generally be smaller than the other 20 stocks and will potentially carry higher business and financial risk. The strategy will seek broad diversification across most economic sectors. A top-down investment approach to these broad sectors will be taken to determine the desired sector exposure of the strategy. A bottom-up approach to stock selection will be applied thereafter They will also most likely be more volatile due to less trading volume.

The strategy will seek broad diversification across most of the major economic sectors. Yet, the inclusion of the eight higher-yielding securities may reduce the broad sector diversity. A top-down investment approach to these broad sectors will be taken to determine the desired sector exposure of the strategy. A bottom-up approach to stock selection will be applied thereafter.

The inclusion of the eight currently higher-yielding equities is expected to create more volatility than the general broad equity market.

This strategy is designed for investors seeking long-term returns by combining current growing dividends.

ASSET CLASS RISK CONSIDERATIONS

Equities: Investors should be willing and able to assume the risk of equity investing. The Value of a client's portfolio changes and can be affected by changes in interest rates, general market conditions, and other political, social, and economic developments as well as specific matters relating to the companies in which the strategy has invested. Companies paying dividends can reduce or cut payouts at any time. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market.

Be advised that investments in real estate and REITs have various risks, including possible lack of liquidity and devaluation based on adverse economic and regulatory changes. Additionally, investments in REITs will fluctuate with the value of the underlying properties, and the price at redemption may be more or less than the original price paid.