Disclaimer

As with any investment strategy, it is possible to lose money by investing. It’s important to know the risks of each investment asset and the risks associated with each investment strategy employed before you invest. As a long term strategy, this is a somewhat passively managed investment strategy. There will be times when different holdings will be bought or liquidated. Those events will be dictated by economic events, market events, company events or better opportunities for re-investment, among other factors.

​The Strategy cannot guarantee the amount or frequency of distributions because dividend income probably will vary. Companies that have paid regular dividends may reduce or eliminate payments in the future. Further, the value of an issuer’s stock may decrease because it reduced its dividends. A portfolio pursuing a dividend-oriented investment strategy may at times underperform other portfolios that invest more broadly or that have different investment styles.​

Dividend income from foreign (non-U.S.) stocks may lose value due to adverse currency fluctuations, and may be reduced by foreign taxes. The value of foreign stocks may decrease as a result of special risks that affect some foreign countries, such as social and political instability, lax regulatory and financial reporting standards, and government restrictions on investment and capital mobility.

Master Limited Partnerships (“MLPs”) are publicly traded partnerships listed on a national securities exchange. MLPs primarily are engaged in energy and natural resource sectors, which makes their income and market value sensitive to negative developments in those sectors. Their market value also may be sensitive to interest rates. Consequently, the prices of MLP units may fluctuate abruptly. Trading volume for MLP units may be low, which may make it difficult to sell its units at a favorable price. MLP general partners have the power to take actions that adversely affect the interests of unit holders. MLPs do not pay U.S. federal income tax at the partnership level, but an adverse change in tax laws could result in MLPs being treated as corporations for federal income tax purposes, which could reduce or eliminate distributions paid by MLPs.

The dividends paid by a Real Estate Investment Trust (“REIT”) may be lower than expected if the REIT’s net operating income is adversely impacted by tenant defaults, declining occupancy rates, changes in environmental and zoning regulations, or falling property values and rents due to deteriorating local or national economic conditions. Some REITs are highly leveraged, which may increase their risk of loss. A REIT that does not qualify as such under the Internal Revenue Code will pay federal income taxes on its earnings, which will reduce the dividends paid by the REIT to the Fund. The prices of REIT stocks listed on a securities exchange may fluctuate erratically because of interest rate changes and other factors. Non-listed REIT securities may lack sufficient liquidity sell them at an advantageous time or to minimize a loss.

Index Description(s): The S&P 500 Index is a broad market index that tracks the performance of 500 leading stocks from major industries of the U.S. economy. The index is generally considered representative of the U.S. large capitalization market. Barclays Capital U.S. Investment Grade Corporate Bond Total Return Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. corporate investment grade fixed income bond market. Indices are unmanaged, and it is not possible to invest directly in the indices.

Investors should consider the investment objective, risks, charges, and expenses carefully before investing. A free consultation about this investment philosophy may be obtained by contacting Investment Philosopher, LLC. Read the prospectus carefully before investing. The investment return and principal value of an investment will fluctuate, so an investor’s shares, when redeemed, may be worth more or less than their original cost.

There may be other risks not identified in this risk statement. The information contained herein has been prepared from sources believed to be reliable but is not guaranteed and is not a complete summary or statement of all available data, nor is it considered an offer to buy or sell any securities referred to herein.

​“Investment Philosopher,” is an independent registered investment advisor under the Investment Advisers Act of 1940 (as “Amended”) and registered with the state of Florida. Additional information about individuals registered with FINRA can be found on FINRA’s BrokerCheck. Additional information about individuals registered with the NFA can be found at the NFA’s Basic. Any investment program may be volatile and can involve the loss of principal. Global investing can involve additional risks, such as the risk of currency fluctuations. No assurances can be made regarding the accuracy of any future prediction. Past performance is no guarantee of future returns. Trading in futures and options entails risks which must be understood prior to trading and is not appropriate for all investors. Obtain enough information on these risks to determine if any investment is appropriate for you.

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