Valley National Advisers Inc. – Form CRS
Valley National Advisers, Inc. (“Company”) is an SEC registered investment adviser located in Bethlehem, Pennsylvania. Company and its representatives are in compliance with the current filing requirements imposed upon SEC registered investment advisers by those states in which Company maintains clients. Company may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Company’s web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of Company’s web site on the Internet should not be construed by any consumer and/or prospective client as Company’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Company with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Company, please contact the SEC or the state securities regulators for those states in which Company maintains a notice filing. A copy of Company’s current written disclosure statement discussing Company’s business operations, services, and fees is available from Company upon written request. Company does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Company web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by Company), will be profitable or equal any historical performance level(s).
Certain portions of Company’s web site (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, Company (and those of other investment and non-investment professionals) positions and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from Company, or from any other investment professional. Company is neither an attorney nor an accountant, and no portion of the web site content should be interpreted as legal, accounting or tax advice.
Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Company is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Company by any of its clients. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser.
To the extent that any client or prospective client utilizes any economic calculator or similar interactive device contained within or linked to Company’s web site, the client and/or prospective client acknowledges and understands that the information resulting from the use of any such calculator/device, is not, and should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from Company, or from any other investment professional.
Each client and prospective client agrees, as a condition precedent to his/her/its access to Company’s web site, to release and hold harmless Company, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from Company.
EVAULT CLIENT PORTAL DISCLOSURES
Clients who specifically access the Valley National eVault Client Portal should understand the data is for illustrative purposes only. Performance does not include time periods prior to 12-31-2005. All information presented is pulled daily from data received by the Custodian of the account. VNA cannot ensure accuracy, as data uploads may be subject to delays and errors. Certain accounts, such as 529 Plan accounts, Annuities, and TIAA-CREF accounts, may be more susceptible to delays. Additionally, this data is not audited and does not constitute a verified statement of your account and should not be used for tax preparation, estate and or retirement planning purposes. For information regarding your holdings, valuations, and investment objective, and in case of discrepancies, you should rely only on your periodic customer statements directly from the Custodian.
FINANCIAL REPORT DISCLOSURES
This report is being supplied as a courtesy to our clients, and it was prepared with information you provided to Valley National Advisers, Inc. (“VNA”) and that of VNA or its affiliates, including Valley National Investments, Inc. (VNI) and the results depend directly on the accuracy and completeness of this information; VNA is not responsible for client errors or omissions. Your financial statements are un-audited and have not been certified or independently verified, please review the data and assumptions provided in this report for accuracy. Please refer to your account statements and confirmations as official sources of information regarding your accounts and compare this report to your actual account financial statements and confirmations as official sources. Returns are not indicative of future results, do not reflect fees, and may be lower than projected with fees applied.
Tax information and any legal aspects presented are for illustrative purposes only. VNA and its affiliates do not provide legal advice. Please consult your tax or legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared.
The information in this report is for illustrative purposes only. This report is not audited and does not constitute a statement of your account and should not be used for tax preparation, estate and or retirement planning purposes. For information regarding your holdings, valuations, and investment objective, and in case of any discrepancies, you should rely only on your periodic statements of your accounts.
DPPs and REITs are not listed on a national securities exchange and priced as a per share estimated value that may be obtained from an annual report, an independent valuation service, or any other source. These values have been obtained or derived from sources we consider reliable, however, we cannot guarantee their accuracy or completeness and should be verified prior to making any material decision relating to such investment. Furthermore, DPPs and REITs are generally illiquid and even if the asset is able to be sold, the price received may be less than the per share estimated value provided on the account statement. IMPORTANT—Part of the DPPs and REITs distribution includes return of capital. Any distribution that represents a return of capital reduces the estimated per share value shown on your account statement.
The information and opinions in this report were prepared by VNA. Information and opinions have been obtained or derived from sources we consider reliable, but we cannot guarantee their accuracy or completeness. This report may include assets in which VNI and/or VNA do no hold, and therefore are not included in VNI’s books and records. These assets are labeled Assets Held Away (AHA) and Managed Assets Held Away (MAHA).
Unsupervised/Unmanaged Assets – VNA does not maintain any investment monitoring or performance responsibility for unmanaged or unsupervised assets and/or accounts. The client and/or its other investment professionals retain exclusive responsibility for the monitoring and performance of such assets and/or accounts. These assets are included for reporting purposes only. However, as set forth in your Investment Advisory Agreement, these assets could be included for purposes of calculating our advisory fee.
Opinions represent VNA’s opinion as of the date of this report and are for general information purposes only. VNA does not undertake to advise you of any change in its opinions or the information contained in this report. VNA affiliates may issue reports or have opinions that are inconsistent with, and reach different conclusions from, this report.
It is a sound practice to review and maintain the original source documents that are integrated into this report such as the statements for individual account held at your various broker/dealers or custodians because such reports may contain notices, disclosures, and other information to you and may serve as a reference should questions arise regarding the accuracy of the information of this report
Individual manager performance results and portfolio characteristics information illustrated in this report are provided by the manager and or Morningstar and are believed to be reliable, but are not guaranteed by VNA or Morningstar. Returns for your account may be higher or lower than the performance data shown for the manager and you may receive more or less than your original investment upon termination of your account. The performance of individual managers, indexes and markets for periods after any period shown may differ substantially from the period shown. Individual manager performance information may differ from actual returns in your account during the same period. Different managers may use different methods in constructing composites or computing performance figures; thus, performance and risk figures for individual managers may not be fully comparable to each other. Performance and risk information of certain managers may include only composites of larger accounts, which may or may not have more holdings, different diversification, different trading patterns and different performance than smaller accounts with the same strategy. Neither VNA nor Morningstar undertake to make available updated information for any periods after those included in the report. Past performance is no guarantee of future results.
This report is not an offer to buy or sell, or solicitation of any offer to buy or sell, any securities mentioned.
This report illustrates principles of diversification and asset allocation so you can evaluate the investments you currently own. To help you evaluate your current investments, we compared a hypothetical portfolio modeled after your current portfolio and a hypothetical proposed portfolio. You should review this report carefully including accuracy of how assets are categorized and your risk tolerance assessment, as they are critical components of the analysis. Your risk tolerance, investment objectives, financial resources, current investment mix and life event planning will define your most suitable investment strategy.
The information in this report compares returns and other characteristics of your current portfolio to a proposed asset allocation selected based upon your current investment profile as represented. This report contains hypothetical results calculated based upon the information and assumptions that you provided or that are disclosed in the report. This report does not attempt to address all financial issues that may impact you and is limited to the areas addressed to in the report. Hypothetical results do not reflect actual manager allocation decisions, as we as material market and economic factors that would affect decision making. The asset allocation references in this report may fluctuate based on asset values, portfolio decisions and client needs. As circumstances change, your investment allocation should be reviewed and adjusted as needed as portfolio results will fluctuate with market and economic conditions. Asset allocation and/or diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses; past performance does not indicate future results. The value of income associated with a security or an investment may fluctuate. There is always the potential for loss as well as gain. Investments discussed in this presentation are not insured by the Federal Deposit Insurance Corporation (FDIC) and may be unsuitable for some investors depending on their specific investment objectives and financial position. Additional information on any securities mentioned is available upon request.
Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, there can be no assurance that the future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Valley National Advisers, Inc. (VNA) or Valley National Investments, Inc (
VNI) will be profitable, equal any historical performance level(s), or prove successful. The account performance information reflects the reinvestment of dividends (to the extent applicable), is net of applicable transaction fees, and is net of Valley National’s investment management fee (if debited directly from the account). Account information has been compiled solely by Valley National, has not been independently verified, and does not reflect the impact of taxes on non-qualified accounts. In preparing this report, Valley National has relied upon information provided by the account custodian. Please defer to formal tax documents received from the account custodian for cost basis and tax reporting purposes. Please remember to contact Valley National, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you want to impose, add, or modify any reasonable restrictions to our investment advisory services. Valley National shall continue to rely on the accuracy of information that you have provided. Please Note: Unlessyou advise, in writing, to the contrary, we will assume that there are no restrictions on our services, other than to manage the account in accordance with your designated investment objective. Please Also Note: This Report is provided for information purposes only, and is not an official statement from the account custodian or any product sponsor. Please compare this Report with account statements received from the account custodian. The account custodian does not verify the accuracy of the advisory fee calculation. Please advise us if you have not been receiving monthly statements from the account custodian. A copy of our current written disclosure Brochure discussing our advisory services and fees continues to remain available upon request or at www.valleynationalgroup.com.
Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results. It should not be assumed that your Valley National account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your Valley National accounts; and, (3) a description of each comparative benchmark/index is available upon request.
When you select an investment that has potential for higher returns, remember you are also choosing a higher level of risk. To help us assess your investment needs, we have developed risk tolerance categories or investment statements. Your risk tolerance level will provide guidance regarding the types of investment vehicles that may be appropriate for you. As circumstances change, your risk tolerance should be reviewed and adjusted as needed.
This report is meant to be updated from time to time as changes occur in your life, your investments, and your goals. It is imperative to review and revise your financial plan regularly to keep pace with changes in the tax laws, investment climate, economic conditions, actual future investment results, rate of inflation, and other impacting circumstances. If you fail to review your financial plan on a regular basis and adjust it as necessary, your actual financial outcome could differ dramatically from the results it this report.
Hypothetical projections included in this report are for illustrative purposes only and are not intended to represent past or future performance of any specific investment. Returns for individual accounts may be higher or lower than the performance data shown, and may receive more or less than the original investment upon termination of the account. Your portfolio and associated results will fluctuate with market and economic conditions and will reflect the volatility of your selected investments. There is no guarantee that a specific rate of return will be achieved; the price or value of the investments in this report may fluctuate, and there is always the potential for loss as well as gain. Past performance is no guarantee of future results.
Effects of fees on performance. Some returns illustrated in this report do no reflect fees that you may incur; the actual performance of your portfolio will vary, and will be reduced by any fees. You may wish to view plans with lower return assumptions to better understand the impact changing assumptions may have. The compounded effect of the deduction of fees over time will be affected by the amount of the fee, the time period, and the account’s investment performance.
Financial indices are for illustrative purposes only, do not represent actual account performances, and are unmanaged and are not available for direct investment. The composition and performance of an index may differ from the composition and performance of an investment style to which it is compared. Index performance figures do not reflect actual trading or material economic and market factors that would affect decision-making, as would be the case in managing actual client portfolios. Performance results in actual portfolios will be reduced by fees, actual trading costs and other expenses. Indexes represent securities widely held by investors. You cannot invest in an index.
Fixed income securities area subject to availability and market fluctuation. These securities may be worth less than the original cost upon redemption. Certain high-yield/high-risk bonds carry particular market risks and may experience greater volatility in market value than investment-grade corporate bonds. Corporate bonds generally provide higher yields than U.S. Treasuries while incurring higher risk. Municipal bonds offer interest payments exempt from federal taxes, and potentially state and local income taxes; unlike U.S. Treasuries, municipal bonds are subject to credit risk and potentially the Alternative Minimum Tax (“AMT”). Quality varies widely depending on the specific issuer. Government bonds and Treasury bills are guaranteed by the U.S. government and, if held to maturity, offer a fixed rate of return and fixed principal value. Interest from certain municipal bonds may be subject to state and/or local taxes and in some instances, the alternative minimum tax.
Investing in foreign securities presents certain risks that may not be present in domestic securities, including: currency fluctuation, the potential for diplomatic and political instability, regulatory and liquidity risks, foreign taxation, and differences in auditing and other financial standards. These risks and generally intensified in emerging markets.
The investments referred to in this report may use options strategies. Options carry a high level of risk and may not be suitable for all investors. Because of the short-term nature of options, it is likely that the investor will trade them more frequently than stocks or bonds, and that each time an option-related trade is effected, the investor will be charged a commission. Commissions on option transactions generally amount to a higher percentage of the principal than commissions for normal stock trades.
Please Note: Private/Alternative Investment Funds-The value(s) for all private investment funds owned by the client reflect the most recent valuation provided by the fund sponsor. However, if subsequent to purchase, the fund has not provided an updated valuation, the valuation shall reflect the initial purchase price. If subsequent to purchase, the fund provides an updated valuation, then the statement will reflect that updated value. The updated value will continue to be reflected on this report until the fund provides a further updated value. As result of the valuation process, if the valuation reflects initial purchase price or an updated value subsequent to purchase price, the current value(s) of an investor’s fund holding could be significantly more or less than the value reflected on this report. Unless otherwise indicated, the client’s advisory fee shall be based upon the value reflected on this report. Please Also Note: If the private fund is a private equity or real estate fund, the value reflected on this report will generally reflect the most recent “fair-value” determined by the fund sponsor, fund CPA or independent valuation service, rather than market value as used for all non-private fund liquid investment assets (i.e. mutual funds, ETFs, individual equity and fixed income securities, etc.).
Real estate investments carry a certain degree of risk and may not be suitable for all investors
There are additional risks associated with investments in smaller and/or newer companies that are no present in companies with larger capitalizations.
Yields are subject to change with economic conditions. Yield is only one factor that should be considered when making an investment decision. Treasuries are guaranteed by the U.S. government and, if held to maturity, offer a fixed rate of return and fixed principal value. Interest income from U.S. Treasury and some government agency securities is generally subject to federal income taxation, but may be exempt from some state and local taxes. Most federal agency bonds are no backed by the full faith and credit of the federal government, however, they may offer some type of guarantee by the issuing agency.
The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Additional information available upon request. If you have additional questions about positions or need contact information for any position in this report, contact Valley National’s Chief Compliance Officer at 800-383-8297
THIS REPORT IS INTENDED FOR ONE-TO-ONE CLIENT PRESENTATIONS ONLY.
Investment and Insurance Products:
- Are NOT insured by the FDIC or any other federal government agency.
- Are NOT deposits of or guaranteed by a Bank or any Bank Affiliate.
- May Lose Value.
- VNI’s SIPC coverage applies only to those investments held by VNI, and to the extent some of the reported entities may be SIPC members, you should contact the other entity regarding SIPC membership.
- Assets Held Away (AHA) and Managed Assets Held Away (MAHA) are not held by VNI.