Research Disclosure Notice

TD Ameritrade pays various outside sources for research material regarding investments and securities that such outside sources distribute to their own customers. TD Ameritrade makes the research material available to its clients without charge for their convenience. Any recommendation, opinion or advice regarding securities or markets contained in such material does not reflect the views of TD Ameritrade, and TD Ameritrade does not verify any information included in such material. TD Ameritrade assumes no responsibility for any fact, recommendation, opinion or advice contained in any such research material and expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it.

Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TD Ameritrade. It is understood that, without exception, any order based on such research that is placed with TD Ameritrade for execution is and will be treated as an UNRECOMMENDED AND UNSOLICITED ORDER. Further, TD Ameritrade assumes no responsibility for the accuracy, completeness or timeliness of any such research or for updating such research, which is subject to change without notice at any time. TD Ameritrade does not provide investment, tax or legal advice. Under no circumstance is the information contained within such third party research to be used or considered as an offer to sell or a solicitation of an offer to buy any particular investment/security.