DISCLOSURES

For clients who receive both financial planning and investment advisory services under agreement. No strategy assures success or protects against loss. Investing involves risk, including loss of principle.
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
Historically, equity markets have recovered from recessions and downturns. Past performance is no guarantee of future returns. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
All data sourced from Bloomberg as of 8/31/26
Investing involves risk including loss of principal. No strategy assures success or protects against loss.
Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price.
Source: Bloomberg.
Content in this material is provided for general informational and educational purposes only and is not intended to provide specific investment, tax, legal, or accounting advice or recommendations for any individual. Investors should consult their financial, tax, legal, and other professional advisers regarding their individual circumstances before making any investment or financial decision.
The views and opinions expressed represent our judgment as of the date of publication and are subject to change without notice. Economic, market, geopolitical, and investment forecasts, projections, and forward-looking statements are based on assumptions, estimates, and information available at the time of publication and are inherently uncertain. Actual events or results may differ materially from those anticipated. There can be no assurance that any forecast, expectation, objective, or investment strategy discussed in this material will be achieved or prove successful.
All investing involves risk, including the possible loss of principal. Investment values will fluctuate and investors may experience gains or losses. Past performance is not indicative of future results and does not guarantee future returns.
References to specific securities, industries, sectors, market participants, economic events, or market themes are provided solely for informational and educational purposes and should not be construed as investment recommendations, offers to sell, solicitations to buy, or indications of trading intent for any client account. Discussions of individual securities are not representative of all securities purchased, sold, or recommended for advisory clients.
Any discussion of portfolio construction, diversification, asset allocation, rebalancing, risk management, fixed income investing, cash management, tax management, or other investment approaches represents general commentary and should not be construed as personalized investment advice or a recommendation for any particular investor. Investment suitability depends upon an investor’s objectives, financial situation, liquidity needs, time horizon, tax considerations, and risk tolerance.
Diversification and asset allocation are investment techniques intended to help manage investment risk. Neither diversification nor asset allocation guarantees a profit, enhances returns, or protects against loss in declining markets. A diversified portfolio may underperform a non-diversified portfolio.
Equity securities are subject to market risk and may experience substantial price fluctuations. Growth-oriented investments may be more volatile than the broader market and may underperform during certain market environments. Small-capitalization, mid-capitalization, international, and emerging-market investments involve additional risks, including greater volatility, currency fluctuations, political and economic uncertainty, differing regulatory frameworks, and varying accounting standards.
Bond investments are subject to market, interest-rate, credit, inflation, and liquidity risks. Bond prices generally decline when interest rates rise and may fluctuate before maturity. Yield and yield-to-maturity figures are estimates based upon prevailing market conditions and assumptions and are not guarantees of future results. Actual investor returns may differ materially from quoted yields.
References to market indexes, economic statistics, industry data, and other third-party information are believed to be reliable but are not guaranteed as to accuracy, completeness, or timeliness. Unless otherwise noted, market and economic data are sourced from Bloomberg as of August 31, 2026.
The Market Returns chart on Page 4 is provided for informational purposes only. Indexes are unmanaged, cannot be invested in directly, do not reflect fees, expenses, transaction costs, or sales charges, and are shown solely for comparative and illustrative purposes. Index performance is not indicative of the performance of any investment, portfolio, or advisory account.
Links to additional educational materials, articles, or website content are provided as a convenience and for informational purposes only. Such references should not be viewed as endorsements of any security, investment strategy, product, or service.
Winthrop Advisory Group, LLC d/b/a Winthrop Wealth is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. Additional information about the firm is available through its Form ADV and other regulatory filings.
International and emerging-market investments involve risks not typically associated with domestic investments, including currency fluctuations, political and economic developments, regulatory changes, market structure differences, and varying accounting standards. These risks may be more significant in emerging-market countries.