The information, analysis, and opinions expressed herein are for general and educational purposes only. Nothing contained in this weekly
review is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any
investment, nor a solicitation of any type. All investments carry a certain risk, and there is no assurance that an investment will provide
positive performance over any period of time. An investor may experience loss of principal. Investment decisions should always be made
based on the investor’s specific financial needs and objectives, goals, time horizon, and risk tolerance. The asset classes and/or investment
strategies described may not be suitable for all investors and investors should consult with an investment advisor to determine the
appropriate investment strategy. Past performance is not indicative of future results.

Information obtained from third party sources are believed to be reliable but not guaranteed. Envestnet|PMC™ makes no representation
regarding the accuracy or completeness of information provided herein. All opinions and views constitute our judgments as of the date of
writing and are subject to change at anytime without notice.

Investments in smaller companies carry greater risk than is customarily associated with larger companies for various reasons such as volatility
of earnings and prospects, higher failure rates, and limited markets, product lines or financial resources. Investing overseas involves special
risks, including the volatility of currency exchange rates and, in some cases, limited geographic focus, political and economic instability, and
relatively illiquid markets. Income (bond) securities are subject to interest rate risk, which is the risk that debt securities in a portfolio will
decline in value because of increases in market interest rates.

Exchange Traded Funds (ETFs) are subject to risks similar to those of stocks, such as market risk. Investing in ETFs may bear indirect fees and
expenses charged by ETFs in addition to its direct fees and expenses, as well as indirectly bearing the principal risks of those ETFs. ETFs may
trade at a discount to their net asset value and are subject to the market fluctuations of their underlying investments. Investing in
commodities can be volatile and can suffer from periods of prolonged decline in value and may not be suitable for all investors.
Index Performance is presented for illustrative purposes only and does not represent the performance of any specific investment product or
portfolio.An investment cannot be made directly into an index.

Alternative Investments may have complex terms and features that are not easily understood and are not suitable for all investors. You
should conduct your own due diligence to ensure you understand the features of the product before investing. Alternative investment
strategies may employ a variety of hedging techniques and non-traditional instruments such as inverse and leveraged products. Certain
hedging techniques include matched combinations that neutralize or offset individual risks such as merger arbitrage, long/short equity,
convertible bond arbitrage and fixed-income arbitrage. Leveraged products are those that employ financial derivatives and debt to try to
achieve a multiple (for example two or three times) of thereturn or inverse return of a stated index or benchmark over the course of a single
day. Inverse products utilize short selling, derivatives trading, and other leveraged investment techniques, such as futures trading to achieve
their objectives, mainly to track the inverse of their benchmarks. As with all investments, there is no assurance that any investment strategies
will achieve their objectives or protect against losses.

Neither Envestnet, Envestnet|PMC™ nor its representatives render tax, accounting or legal advice. Any tax statements contained herein are
not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state, or local tax penalties. Taxpayers
should always seek advice based on their own particular circumstances from an independent tax advisor. SR#1511068 .
©2020 Envestnet Asset Management, Inc.All rights reserved.

ABOUT ENVESTNET®

Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified
technology enhances advisor productivity and strengthens the wealth management process, delivering unparalleled flexibility, accuracy,
performance, and value. Envestnet enables a transparent, independent, objective, and fiduciary standard of care, and empowers enterprises
and advisors to more fully understand their clients and deliver better outcomes.

For more information on Envestnet, please visit www.envestnet.com.