The Intermediate Tax-Efficient Strategy is an investment grade, intermediate duration municipal bond portfolio that seeks to preserve capital and maximize after-tax income. Allocations to U.S. Treasury, government-related and corporate bonds are also considered based on a client's tax rate and market environment. The strategy employs active management, bottom-up research and proactive portfolio positioning. This strategy allows clients to bias towards over 30 states for investors with state-tax liabilities.

The information above is current as of 12/31/25.

There is no guarantee that the strategies or customizations will achieve their objectives, lower volatility or be profitable. Client-driven modifications and customizations are subject to review and approval. Some modifications and customizations cannot be combined and/or require higher account minimums. All investments involve risk, including loss of principal. Diversification cannot assure a profit or protect against loss. No investment or risk management strategy can guarantee positive results or risk elimination in any market. Investments in values-aligned customizations are subject to proportionately higher exposures in certain types of risks.