When a bank or credit union (each a “Financial Institution”) offers Cetera brokerage, advisory and/or insurance services on the Financial Institution’s premises or through a Financial Institution employee there are certain nuances to the relationship that investors should be aware of. This page is intended to inform investors of the relationship between Cetera and these Financial Institutions.

Financial Institutions are depository institutions that offer products such as checking and savings accounts, money market accounts, and certificates of deposits. Financial Institutions are typically not registered as broker-dealers or investment advisers.

Cetera Investment Services LLC is a registered broker-dealer that provides brokerage services such as buying and selling securities and certain other investment products including insurance products. Cetera Investment Advisers LLC is a registered investment adviser that provides investment management (or “advisory”) services (Cetera Investment Services LLC and Cetera Investment Advisers LLC are collectively referred to herein as “Cetera”). Cetera is a separate entity from, and is not an affiliate of, the Financial Institution.

If you decide to work with a financial professional who is registered with Cetera, the investment products and services are being offered by Cetera and not the Financial Institution. Often these services are provided under a marketing name. While that marketing name may bear some resemblance to the name of a Financial Institution, it is important to understand that the products and services are still being offered by Cetera and not a Financial Institution. The products and services offered by Cetera are not obligations of, and are not guaranteed by, a Financial Institution, a Financial Institution’s affiliates, or any federal or state government agency.

Your Financial Institution and Cetera are not affiliates, but instead have entered into an agreement that:

• Allows Cetera and its financial professionals, who may be Financial Institution employees, to provide investment products (and, if applicable, advisory services) on or off the premises of your Financial Institution
• Establishes a referral program through which your Financial Institution may refer a customer or member to the Cetera financial professional’s office (again, on or off the premises of your Financial Institution)
• Allows Cetera to compensate your Financial Institution for the use of your Financial Institution’s facilities, technology, marketing services, and/or office supplies.

When the Cetera financial professionals who are Financial Institution employees offer products and services, they are registered with Cetera for the purpose of offering those investment and insurance products and services. Your Cetera financial professional is compensated directly or indirectly by Cetera for the products and services offered.

The agreement between Cetera and your Financial Institution allows Cetera to pay your Financial Institution (in cash or non-cash) for referring customers or members to Cetera. That creates a conflict of interest and an incentive for your Financial Institution to recommend Cetera. This client referral compensation varies. This referral arrangement does not result in any increase in the fees or commissions you pay to Cetera. The Financial Institution is paid directly by Cetera for the referral.

For additional information on any referral arrangement between Cetera and your Financial Institution, please contact Cetera Investment Services Compliance at Compliance@ceterais.com.

• Purchasing investment products and services involves investment risk, including the possible loss of principal and market value.
• The value of the investment products may fluctuate, and the performance of the investment is not guaranteed.
• The investment products offered by Cetera are not obligations of the Financial Institution, and are not endorsed, recommended, or guaranteed by the Financial Institution.
• The investment products offered by Cetera are not insured by the FDIC, NCUA, or any federal or state government agency, except for certain certificates of deposit and cash sweep accounts.
• Cetera is a member of the Securities Investor Protection Corporation (SIPC). The Cetera SIPC Membership provides account protection up to a maximum of $500,000 per customer, of which $250,000 may be claims for cash. An explanatory brochure is available at www.sipc.org. The account protection applies when an SIPC member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments.

If you have any additional questions or concerns about working with a financial professional who is associated with a Financial Institution, please contact Cetera Investment Services Compliance at Compliance@ceterais.com.

This material has been prepared by Cetera Investment Services LLC.

In certain situations, Financial Institutions may have an affiliated broker/dealer, registered investment advisory firm and/or insurance agency. In those situations, the agreement may require Cetera to compensate that affiliate, rather than the Financial Institution, directly.