Excess SIPC Insurance

The Securities Investor Protection Corporation ("SIPC") provides $500,000 for securities, including $100,000 for cash claims protection ("SIPC coverage"). www.sipc.org. Account protection applies when a SIPC member firm fails financially and is unable to meet its obligations to securities clients, but it does not protect against market fluctuations.

First Clearing, LLC provides additional protection ("Excess SIPC") through Customer Asset Protection Company. CAPCO is an insurance company licensed by the state of Vermont and has received an A+ financial strength rating from Standard and Poor's. CAPCO provides to participating securities broker/dealers "Excess SIPC" net equity protection for institutional and individual clients' securities accounts. This Excess SIPC protection is excess of the protection provided by the Securities Investor Protection Act ("SIPA"), which is administered by the Securities Investor Protection Corporation ("SIPC").

Excess SIPC does not protect against losses from the rise and fall in the market value of investments, and does not cover all assets. For additional information please visit www.capcoexcess.com.