Advisory services offered by Goldman Sachs Wealth Services, L.P. (the “Adviser”), a registered investment adviser, affiliate of Goldman Sachs & Co. LLC ("GS&Co."), and a subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization. Goldman Sachs Ayco is a brand of Goldman Sachs Wealth Services, L.P. Brokerage services are offered through GS&Co. and Mercer Allied Company, L.P. (a limited purpose broker-dealer), both affiliates of the Adviser and members FINRA/SIPC. This material has been prepared by the Adviser, is intended for educational purposes only, and is provided solely on the basis that it will not constitute investment advice and will not form a primary basis for any personal or plan’s investment decisions. While it is based on information believed to be reliable, no warranty is given as to its accuracy or completeness and it should not be relied upon as such. The Adviser is not a fiduciary or Wealth Advisor with respect to any person or plan by reason of providing the material or content herein, including under the Employee Retirement Income Security Act of 1974, the Internal Revenue Code, or Department of Labor Regulations. Unless the Adviser otherwise agrees in writing to act as a fiduciary to your retirement account, you understand that: i) all investment decisions concerning your retirement accounts are made by you, without any advice or recommendations from the Adviser, and ii) any target allocation shown for your retirement account represents decisions you have communicated to the Adviser regarding such asset allocation, after considering your financial circumstances, objectives, risk tolerance, and goals, without any advice or recommendations from the Adviser. The Adviser provides a variety of financial counseling, investment advisory, investment education, and other services. The Adviser’s counseling services may consist of, among other things, assisting the counseled individuals in developing a comprehensive program designed to maximize the benefits of their employers’ existing compensation and fringe benefit programs, to conserve the counseled individual’s assets, to manage income on a long-term basis, and/or to develop an individual retirement and estate plan. Neither GS&Co., nor the Adviser provide legal advice to their clients, and all clients should consult with their own legal advisor regarding any potential strategy, investment, financial plan, estate plan or with respect to their interest in any employee benefit or retirement plan. Under certain of the Adviser’s financial counseling programs, the Adviser may recommend securities or investment products, including those offered by its affiliates. This could lead to conflicts of interest of which you should be aware. More information regarding the Adviser’s business practices and conflicts is set forth in Goldman Sachs Wealth Services Form ADV brochure, which is available online and upon request. Neither GS&Co. nor the Adviser provide accounting or tax advice to their clients, unless explicitly agreed between the client and GS&Co or the client and the Adviser. All clients should be aware that tax treatment is subject to change by law, in the future or retroactively, and clients should consult with their tax advisors regarding any potential strategy, investment, or transaction. Certain information contained herein is based upon materials provided by third parties. We do not represent that such information is accurate and complete and it should not be relied upon as such. This material may not, without the Adviser’s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.
