Our Commitment to Our Clients

DISCLOSURE:

Provide certain required disclosure before or at the time of the recommendation, about the recommendation and the relationship between you and your retail customer.

CARE:

Exercise reasonable diligence, care, and skill in making the recommendation.

CONFLICT OF INTEREST:

Establish, maintain, and enforce written policies and procedures reasonably designed to address conflicts of interest.

COMPLIANCE:

Establish, maintain, and enforce written policies and procedures reasonably designed to achieve compliance with Regulation Best Interest.

What Types of Investment Services Do You Provide?

Depending on your needs and investment objective, we can provide you with brokerage services, investment advisory services, or both at the same time.

As you consider the type of relationship you may wish to establish with us, ask your Financial Professional the following questions:

• Given my financial situation and investment objective, should I choose a brokerage account, an investment advisory service, or a combination of both? What are the differences? Is one more suited to my situation than the other, and if so, why?
  
  
• How will you choose the investments you recommend to me? If you recommend a third-party investment adviser, how will you decide which one best matches my situation?
  
  
• What is your relevant experience, including licenses, education and other qualifications? What do these qualifications mean? Based on your licensing or other qualifications, are you limited to offering specific types of services or investments?
  
  
• How often will you monitor my account's performance and offer investment advice if I have a brokerage account? An advisory account?
  

What Fees Will I Pay?

Fees and costs affect the value of your account over time. Ask your Financial Professional to give you personalized information on the fees and costs that you will pay if you choose a brokerage account and/or an investment advisory account. You will pay fees and costs whether you make or lose money on your investments, and regardless of which type of account you select. Fees and costs will reduce any amount of money you make on your investments over time. Be aware that you understand what fees and costs you are paying.

As you consider the type of relationship you may wish to establish with us, ask your Financial Professional the following questions:

• Help me understand how the fees and costs you charge might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
  
  
• How much would I expect to pay per year for an advisory account? How much for a typical brokerage account? What would make the fees for both options increase or decrease?
  
  
• How do wrap-fee accounts differ from arrangements where I pay separately for advice and transactions? Does it make a difference if my account is actively traded?
  
  
• What effect will the types of investments selected (stocks, bonds, mutual funds, etc.) have on the overall cost?
  
  
• How are you compensated for providing services to me?
  

Our Legal Obligations to Clients and Conflicts of Interest.

When we make recommendations as your broker-dealer or act as your investment adviser, we must act in your best interest and not place our interest ahead of yours. When we act as your investment adviser, we are subject to a fiduciary duty that creates other obligation to you. In either case, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the recommendations and investment advice that we provide you. All financial services companies have conflicts of interest. Most conflicts arise out of how we and our Financial Professionals are compensated, by whom they are paid, and who has an incentive to recommend a given investment or service. There are a number of conflicts of interest associated with the compensation that we and our Financial Professionals receive. We have adopted conflict mitigation practices that are tailored to the nature and scope of our conflicts of interest where we believe they are necessary or appropriate.

As you consider the type of relationship you may wish to establish with us, ask your Financial Professional the following questions:

• How do you make money from providing services to me? Are you paid more if I buy one type of investment instead of another?
  
  
• Are there different classes of mutual fund shares or annuities? Are the fees or sales charges different? Given my situation, which is likely to be better for me?
  
  
• How might your conflicts of interest affect me, and how will you address them?
  
  
• What portions of your compensation do I pay directly, and which do you receive from third parties such as product sponsors, clearing firms, or third-party investment advisers?
  
  
• In addition to paying fees for investment activities as described above, what other charges and costs do I pay you or third-parties?
  
  
• If you provide services through an ORIA, how do they differ from the services offered through CA? Is your compensation different in either type, source, or amount?

Do You or Your Financial Professionals Have Legal or Disciplinary History?

SEC and FINRA rules provide that certain types of legal and disciplinary matters involving broker-dealers, RIAs, and Financial Professionals must be reported through the Central Registration Depository ("CRD") system. Both Cetera Advisors and some of our Financial Professionals have legal and disciplinary disclosures. For additional information about our Financial Professionals and services, visit Investor.gov or BrokerCheck.Finra.org.

As you consider the type of relationship you may wish to establish with us, ask your Financial Professional the following questions:

• As a financial professional, do you have any disciplinary history? For what type of conduct? what was the outcome of the matter disclosed?
  
  
• Where can I get more information about any disclosures regarding you or your firm?
  
  
• If I have questions about the handling of my account or how my Financial Professional is treating me, who should I contact at Cetera Advisors?