Advisors have not received remuneration for participation in providing these testimonials. Advisor testimonials may not represent the experience of all advisors using TD Ameritrade brokerage services. The advisors mentioned are not affiliated with TD Ameritrade Institutional. More information about the advisors is available on the SEC website www.sec.gov. TD Ameritrade is not responsible for services or policies of any third party. TD Ameritrade does not recommend or endorse any advisor that utilizes its brokerage or custodial services. TD Ameritrade does not monitor, and is not responsible for, communications between advisors and their clients.

TD Ameritrade Institutional, Division of TD Ameritrade, Inc., member FINRA/SIPC/NFA & TD Ameritrade Clearing, Inc., member FINRA/SIPC. TD Ameritrade Trust Company is a non-depository trust company, acts as a custodian and/or directed trustee and is not a member of FINRA, SIPC or NFA. Brokerage services provided exclusively by TD Ameritrade, Inc. TD Ameritrade, Inc., TD Ameritrade Clearing, Inc. and TD Ameritrade Trust Company are subsidiaries of TD Ameritrade Holding Corporation. This is not an offer or solicitation for brokerage services, investment advisory services, or other products or services in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the securities laws or other local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Austria, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Saudi Arabia, Singapore, or the United Kingdom. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. ©2012 TD Ameritrade IP Company, Inc. All rights reserved. Used with permission.