1) Investment advisers may only transact business in a particular state after licensure or satisfying qualification requirements of that state, or only if they are excluded or exempted from the state's investment adviser registration, as the case may be.

2) Following-up, individualized responses to consumers in a particular state by the investment adviser that involve either the effecting or attempting to effect transactions in investment advice for compensation, as the case may be, shall not be made without first complying with the state's investment adviser requirements, or pursuant to an applicable state exemption or exclusion.

3) Information concerning the licensure status or disciplinary history of an investment adviser can be obtained by contacting your state securities law administrator. Communications shall not involve either effecting or attempting to effect transaction in securities, or the rendering of personalized investment advice for compensation, as the case may be, over the Internet, but shall be limited to the dissemination of general information on products and services.

Information on this web site may contain technical inaccuracies or typographic errors. Information may be changed or updated without notice. Improvements or changes may be made in the programs described in this information at any time without notice.

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