• Advisory services are provided by MacNicol & Associates Asset Management US LLC. The firm is registered as an investment advisor with the United States Securities and Exchange Commission (SEC) and only conducts business in states where it is properly registered or is excluded from registration requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.
  • You should consult with a professional advisor before implementing any strategies discussed. All investments and strategies have the potential for profit or loss. Different types of investments involve higher and lower levels of risk. There is no guarantee that a specific investment or strategy will be suitable or profitable for an investor’s portfolio. Historical performance returns for investment indexes and/or categories, usually do not deduct transaction and/or custodial charges or an advisory fee, which would decrease historical performance results. There are no assurances that a portfolio will match or exceed any particular benchmark.
  • Alternative investments are speculative and involve a high degree of risk. Investors could lose all or a substantial portion of their investment. Investments may be illiquid, and there may be significant restrictions on transfers. Alternative investments may be leveraged, and their performance may be volatile. These investments may involve complex tax structures.
  • Model returns have inherent limitations, especially the fact that they do not represent the performance of any particular client. Actual clients’ accounts may be managed differently in response to changes in economic conditions, account restrictions, and/or the client’s investment objectives. Hypothetical performance results may not be as reliable as actual returns from clients’ accounts. All results are presented net-of-fees and include dividends and capital gains.
  • In constructing actual portfolios for clients, we might deviate from the asset allocation and investments utilized in this model. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses.
  • The MAAM Pro Equity Model was developed, evaluated, and backtested by MacNicol & Associates Asset Management US LLC. Returns prior to October 2024 are hypothetical backtested results and do not reflect actual trading. See important limitations of hypothetical performance below. Key limitations include:  Strategies are often prepared with the benefit of hindsight, using historical outcomes that can artificially boost results, hypothetical trading does not involve actual financial risk, which cannot be accounted for in simulations, emotional pressures can impact actual trading and can adversely affect results, and simulations often omit real-world variables like liquidity constraints, slippage, and transaction fees as well as many other limitations and risks. Simulated results investment universe preselected during back testing period.
  • Investing involves risks, including the potential loss of principal. The model that gave rise to these backtested performance results is one that the adviser is now using in managing clients’ accounts.
  • All figures in this deck are net of all fees, and expenses.