FIDUCIARY ACKNOWLEDGMENT FOR RETIREMENT ACCOUNTS

American Portfolios Financial Services, Inc. and American Portfolios Advisors, Inc.—collectively called American Portfolios—are providing you this Fiduciary Acknowledgment for the purpose of complying with the U.S. Department of Labor’s Prohibited Transaction Exemption 2020-02 (PTE2020-02), where applicable.

Fiduciary Acknowledgment

When American Portfolios provides investment advice, as defined by the Department of Labor, to you regarding your retirement plan account or individual retirement account (IRA) under ERISA, American Portfolios is a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way American Portfolios makes money can create some conflicts of interest; as such, American Portfolios operates under a special rule that requires the company to act in your best interest and not put its own interests ahead of yours.