Asset Valuation Disclosure
1. Portfolio Positions
For assets where value is readily ascertainable on an established exchange or generally recognized market, we will report values as derived from sources commonly used by the financial services industry. The amounts reflected in this statement are month-end prices, as derived from such outside sources. Alternative investments, such as direct participation program securities (e.g., partnerships, limited liability companies and real estate investment trusts which are not listed on any exchange), private equity, private debt and hedge funds are generally illiquid investments and their current values may be different from the purchase price.
The values shown on this statement for such illiquid investments may have been provided by the management, administrator or sponsor of each program without independent verification by Equity Trust Company and may represent an estimate of the value of the investor’s participation in the program. Therefore, the price received at the time of liquidation could be more or less than the per share estimated value provided in the statement. For other assets where value is not readily ascertainable, we will report value at the assets’ last known fair market value as provided by you via a qualified independent appraisal of the asset(s), or at the assets’ acquisition cost if no such appraisal is given to us. For precious metals, the total and individual value(s) are reflected at the spot price per ounce on this statement and may not represent an accurate valuation of the precious metals held. The spot price shown does not include premiums, commissions, spreads or any numismatic value. For a more accurate valuation of the precious metals held, please contact your precious metals dealer or financial advisor. For all custodial assets, Equity Trust Company does not guarantee or verify the accuracy of the prices obtained by outside services or from any other source, including an independent appraisal provided by you. Such values may be general approximations and are only for guidance and reporting purposes and should not be deemed to be an accurate representation of the true fair market value of such asset(s).
2. Total Portfolio Value
This figure represents an estimate of the total value of all your assets on the settlement date, including all money funds, based on the combination of the settled money balances, if any, and the value of the other assets listed. See “Portfolio Positions” above for description of the means used to value assets.
3. Errors and Discrepancies
Be advised you have 60 days from the date of your log on to object to any matter contained herein. If you fail to object within the prescribed time period, you will be deemed to have approved and accepted the information reported as is and, absent fraud or intentional misrepresentation by Equity Trust, Equity Trust shall be released and discharged from any and all liability as to all matters reported in your account. Should your account be overvalued, you agree that Equity Trust is not liable for the difference between the actual value and the reported value, and Equity Trust may correct the overvaluation once it obtains updated information.
4. Investment Responsibility
Investments held at Equity Trust are selected by the customer for his/her own account and Equity Trust does not guarantee the return of such investments.