Account Protection First Clearing*/RBCClients who maintain securities accounts with us are protected by the Securities Investor Protection Corporation (SIPC). Securities and cash in client accounts held at First Clearing¹ and RBC Capital Markets have other sources of protection in addition to, and separate and distinct from, the SIPC coverage of Cutter & Company, Inc.SIPC protects clients against the custodial risk of a member brokerage firm becoming insolvent by replacing missing securities and cash up to a maximum of $500,000, which includes up to $250,000 for claims for cash. (SIPC coverage is not the same as, nor is it a substitute for FDIC deposit insurance.) For more information on SIPC coverage, please see the explanatory brochure available at WWW.SIPC.ORG.In addition to also being SIPC members, First Clearing maintains a program of additional protection provided through London Underwriters, led by Lloyd’s of London Syndicates (“Lloyd’s”) For clients who have received the full SIPC payout limit, First Clearing’s policy with Lloyd’s provides additional coverage above the SIPC limits for any missing securities and cash in client brokerage accounts up to a clearing-firm aggregate limit of $1 billion (including up to $1.9 million for cash per client).SIPC and the additional protection from Lloyd’s do not protect against losses from the failure of a security, nor do they insure the quality of investments or protect against losses from fluctuating market value. All coverage is subject to the specific policy terms and conditions. First Clearing’s SIPC and additional coverages only apply in the event of First Clearing’s insolvency, and do not apply in the event of Cutter & Company’s insolvency.RBC Capital Markets (RBC CM) is a member of SIPC, and provides additional protection through an insurance policy from Lloyd’s of London. The RBC CM Lloyd’s policy covers up to $99.5 million per SIPC qualified account (of which $900,000 may be cash), subject to a total maximum aggregate for RBC CM of $400 million that would be distributed on a pro-rata basis across all losses by clients of RBC CM.About Lloyd’s of London SyndicatesLloyd’s is the world’s specialist insurance market. The business written at Lloyd’s is brought to specialist syndicates, which price and underwrite risk, via brokers and cover holders. Currently, A.M. Best has given Lloyd’s a financial strength rating of “A (Excellent) Stable Outlook”. For more information about Lloyd’s, please visit www.lloyds.comFirst Clearing Cash Sweep FDIC Insurance Limits: For accounts enrolled in the Cash Sweep program, uninvested cash (principal and interest) in each eligible account is automatically deposited into one or more sweep vehicles. The program consists of two options:The Standard Bank Deposit Sweep consists of interest-bearing deposit accounts at two affiliated banks. Cash sweep deposits are insured for up to $500,000 per single depositor (or $1 million for joint ownership accounts with two or more owners).The Expanded Bank Deposit Sweep consists of interest-bearing deposits at up to five banks including affiliated and unaffiliated banks. Cash sweep deposits are insured for up to $1.25 million per single depositor (or $2.5 million for joint ownership accounts with two or more owners).Deposits made through the Standard Deposit Sweep and the Expanded Deposit Sweep are added to any deposits you may already have at any of the affiliated banks and eligible for FDIC insurance of up to $250,000 per depositor, per institution, in accordance with FDIC rules. These deposit insurance limits refer to the total coverage that an account holder has at each bank, including any CD’s. More information on FDIC coverage is available at www.fdic.govFor further information, please see the Cash Sweep Program Disclosure Statement. A copy can be obtained from your financial advisor. ¹First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.