Reaves Asset Management (“Reaves”) is a U.S. Securities and Exchange Commission (SEC) registered investment advisor located in Jersey City, NJ. Registration does not imply any skill or training. Reaves may only transact business or render personalized investment advice in those states and jurisdictions where we are registered/filed notice or otherwise excluded or exempted from registration requirements.

The purpose of Reaves’ website (www.reavesam.com, www.reavesassetmanagement.com or www.whreaves.com) is for information dissemination on the Firm’s products and services only and does not constitute financial, investment, tax or legal advice. The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation or which would subject Reaves to any registration qualification, licensing, approval or non-disapproval requirement within such jurisdiction.

Certain portions of Reaves’ website (i.e. newsletter, articles, etc.) may contain a discussion of, and/or provide access to, Reaves’ (and those of other investment and non-investment professionals) opinions as of a specific prior date. Due to various factors, including, but not limited to, changing market conditions, any such discussion may no longer be reflective of current opinion(s). Furthermore, no client or prospective client should assume that any such discussion serves as a substitute for personalized advice from Reaves or from any other investment professional. Different types of investments involve varying degrees of risk and there can be no assurance that any specific investment will be suitable for any specific portfolio.

Past performance may not be indicative of future results; therefore, no current or prospective client should assume that the future performance of any specific investment, product or service made reference to directly or indirectly by Reaves in its website, or indirectly via a link to an unaffiliated third party website, will be profitable or equal to the corresponding indicated performance level(s). Historical performance results do not reflect the deduction of brokerage commissions, management fees (unless noted) and/or transaction fees, the payment of which would have the effect of decreasing the indicated performance results.

Reaves strives to provide accurate and up-to-date material on its website. Reaves will make every effort to be sure that the content is always accurate as possible. Despite our best efforts, we make no warranties or representations as to the accuracy or timeliness of the content. The content on this website and the operation of it are provided “as is” and your use of the website and its content is at your own risk. If you notice an error or an omission please contact us immediately.

For information pertaining to the registration status of Reaves, please contact the U.S. Securities and Exchange Commission (SEC). A copy of Reaves’ current ADV Part 2A discussing Reaves’ business operations, services and fees is available upon request. Reaves 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 and takes no responsibility thereof. All such information is provided solely for the purposes of convenience only and all users should be guided accordingly.