Important Disclosures

This website is the property of Schmitz Capital Partners (SCP) and is intended for the use of clients, business associates and the general public. Unauthorized reproduction or distribution of this material in whole or in part is strictly prohibited. If you have any questions, please contact Michael Schmitz at (415) 381-9076, via email at or via regular mail at SCP Website | 655 Redwood Highway, Suite 109 | Mill Valley, CA 94941 for further information.

This information has been prepared Schmitz Capital Partners and the material reflects the views of SCP and is for informational purposes. It does not take into account the particular investment objectives, financial situation, or needs of individual clients. Statements made by various authors, government agencies, professionals, advertisers, sponsors and other sources do not necessarily reflect the opinions of SCP or Royal Alliance Associates, Inc. (RAA), and should not be construed as an endorsement by SCP or RAA, either expressed or implied. Opinions expressed herein are current opinions only as of the date indicated, and are subject to change without notice. This material is based upon information obtained from various sources that SCP believes to be accurate and reliable, but SCP makes no representation or warranty with respect to the accuracy or completeness of such information. SCP is not responsible for typographic errors or other inaccuracies in the content. Therefore, all information and materials are provided "AS IS" without any warranty of any kind.

Nothing contained herein should be construed as (i) an offer to sell or solicitation of an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Certain of the statements contained herein are statement of future expectations and other forward-looking statements that are based on current views, forecasts and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels,(4) increasing levels of loan defaults, (5) changes in laws and regulations, (6) changes in the policies of governments and/or regulatory authorities and (7) inflation. Past results are not indicative of future results.

Investing involves risk including the potential loss of principal. No investment strategy such as diversification or asset allocation can guarantee against a profit or protect against loss in periods of declining values. There is no guarantee that a diversified portfolio will outperform a non-diversified portfolio in any given market environment. Global investing involves special risks including greater economic and political instability, as well as currency fluctuation risks. Investments in developing/emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively smaller size and lesser liquidity. Past performance is no guarantee of future results.

Please note that rebalancing investments may cause investors to incur transaction costs and, when rebalancing a non-retirement account, taxable events will be created that may increase your tax liability. Rebalancing a portfolio cannot assure a profit or protect against a loss in any given market environment.

Technical Analysis is based on the study of historical price movements and past trend patterns. There is no assurance that these movements or trends can or will be duplicated in the near future. It logically follows that historical precedent does not guarantee future results. Conclusions expressed in the TA section are personal opinions; and may not be construed as recommendations to buy or sell anything

The price of commodities is subject to substantial price fluctuations of short periods of time and may be affected by unpredictable international monetary and political policies. The market for commodities is widely unregulated and concentrated investing may lead to higher price volatility

In general, the bond market is volatile as prices rise when interest rates fall and vice versa. This effect is usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

Important Consumer Information

Securities offered through Royal Alliance Associates, Inc., member FINRA/SIPC. Investment advisory services offered through Schmitz Capital Partners, a Registered Investment Advisor not affiliated with Royal Alliance Associates, Inc.

Royal Alliance Associates, Inc. does not provide tax advice.

This communication is strictly intended for individuals residing in the states of AR, AZ, CA, CO, FL, GA, HI, IA, ID, MA, MT, NC, NJ, NV, NY, OH, OR and WA. No offers may be made or accepted from any resident outside the specific state(s) referenced.

A Broker/dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered, or is excluded or exempt from state broker/dealer, investment adviser, BD agent, or IA registration requirements as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made without first complying with appropriate registration requirements, or an applicable exemption or exclusion. For information concerning the licensing status or disciplinary history of a broker/dealer, investment, adviser, BD agent, or IA rep, a consumer should contact his or her state securities law administrator.