This material does not necessarily reflect views of RCL or any affiliate thereof and are subject to change without notice. Any information contained herein is general, and does not take into account an individual’s specific circumstances or applicable governing law, which may vary from jurisdiction to jurisdiction and be subject to change. No warranty or representation, express or implied, is made by RCL or any affiliate, nor shall RCL or any affiliate have any liability with respect to the information and data set forth herein. This document does not constitute legal, tax, accounting or other professional advice, and is not intended to be relied on. Please consult your professional advisors prior to acting on the information set forth herein.

RCL does not provide discretionary investment management services and clients are responsible for making all investment decisions. The value of investments can go down as well as up and fees, charges and taxation can have an adverse effect on investment returns. Some or all of the due diligence on managers, mutual funds, and alternative investments may be outsourced by RCL to third party vendors. Any third party information contained herein is from sources believed to be reliable, but which RCL has not independently verified.

This document is in no way a solicitation of offer to sell securities or investment advisory services except, where applicable, in states where we are registered or where an exemption or exclusion from such registration exists.