Investment products are: not deposits, not FDIC/NCUA insured, not insured by any government agency, not bank guaranteed, subject to risk and may lose value. Eagle Rock a Greenberg & Rapp Company and Greenberg & Rapp Financial Group, Inc. are not registered broker dealers and are independent of Raymond James Financial Services, Inc.. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.

Alternative investment strategies involve greater risks and are not appropriate for all investors. Private Institutional Client products and services (“PIC Services”) are nondiscretionary, nonfiduciary and nonadvisory investment opportunities in all asset classes, conventional and alternative, that are only available to certain Alex. Brown and Raymond James clients who qualify as an “institutional account” as defined in FINRA Rule 4512(c), that are highly sophisticated investors with experience in independently evaluating and making investment decisions with respect to securities and investment strategies similar to those made available through PIC Services. A copy of the options disclosure document is available from your financial advisor. Options are not suitable for all investors.

Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Past performance does not guarantee future results. Be sure to contact a qualified professional regarding your situation before making any investment or withdrawal decision. Changes in tax laws or regulations may occur at any time and could substantially impact your situation.

Alternative Investments involve substantial risks that may be greater than those associated with traditional investments and may be offered only to clients who meet specific suitability requirements, including minimum net worth tests. These risks include but are not limited to: limited or no liquidity, tax considerations, incentive fee structures, potentially speculative investment strategies, and different regulatory and reporting requirements. There is no assurance that any investment will meet its investment objectives or that substantial losses will be avoided.

While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors we are not qualified to render advice on tax or legal matters. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.