Definition of a Qualified Client

Definition of a Qualified Client

An individual or entity is a “qualified client,” as defined by Rule 205-3 under the Investment Advisers Act of 1940, if he, she or it:

1. Has at least $1,000,000 of assets under management with us; or

2. Has a net worth of at least $2,100,000, excluding the value of his or her primary residence; or

3. Is an individual or family-owned business not formed for the specific purpose of investing with us and owns at least $5,000,000 of investments; or

4. Is a trust, not formed for the specific purpose of investing with us and owns at least $25,000,000 of investments; or

5. Is an entity in which each beneficial owner satisfies the conditions of (3) or (4).