L.M. OHN COMPANY New L.M. Kohn Client: Existing Client ......I am willing to accept moderate risk,...

Full Service Brokerage Investment Advisory Services Insurance Member FINRA (www.FINRA.org) , SIPC (www.SIPC.com, (202) 371-8300) and MSRB. Affiliated with all major exchanges.

Updated 02-2018

L.M. KOHN & COMPANY

BROKERAGE AND INVESTMENT MANAGEMENT

Customer Acknowledgment Form

THIS FORM IS TO BE USED FOR INDIVIDUALS, TRUSTS, ESTATES, SMALL BUSINESSES, NON-PROFITS OR CORPORATIONS VALUED UNDER $50 MILLION.

All Sections Must Be Completed, “*” Indicates A Mandatory Field / Section

ACCOUNT TYPE*

403b IRA SEP Partnership 529 Individual JTWROS JTIC ¹

Non Profit Corporate ² Trust Advisory UG(T)MA Indexed Annuity / Indexed Life Variable Annuity / Variable Life

Other (Indicate type of registration and identify supporting documentation)___________________________________________________________________

_________________________________________________________________________________________________________________________

¹ For JTIC, L.M. Kohn & Company recognizes only two joint tenants, each owning 50% of the account, unless separate documentation with names, SSN, percentage of ownership, and

signatures is attached to this form.

² For Corporate or Business Accounts: Copy of Corporate Resolution MUST be attached to the Customer Acknowledgment Form

SECTION ONE : ACCOUNT OWNERSHIP INFORMATION

Primary Owner/Trustee Name & Mailing Address* Joint/Co-Trustee Name & Mailing Address

For Existing Clients, is this the address we have on file? Yes No For Existing Clients, is this the address we have on file? Yes No

Legal / Physical Address (if different from above) Legal / Physical Address (if different from above)

SSN/EIN* Marital Status* SSN/EIN Marital Status

Date of Birth* Home Phone* Date of Birth Home Phone

Citizenship* Business/Mobile Phone* Citizenship Business/Mobile Phone

E-Mail Address* E-Mail Address

Client does not have e-mail (check box if no e-mail address is given)

Client does not have e-mail (check box if no e-mail address is given)

Primary I.D. Document*

Driver’s License Passport State I.D.

Primary I.D. Document


Primary I.D. Document Number*

Exp. Date*

Primary I.D. Document Number Exp. Date

Occupation/Type of Business Occupation/Type of Business

Employer Name & Address* Employer Name & Address

Client(s) Initials*:____________

New L.M. Kohn Client:

Existing Client Update:

Date Signed:

http://www.finra.org/

http://www.sipc.com/


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L.M. KOHN & COMPANY



ADDITIONAL OWNERS (IF APPLICABLE) POWER OF ATTORNEY/AGENT (IF APPLICABLE, ATTACH COPY OF POA)

Name & Address of Additional Owner/Trustee

Power of Attorney/Agent’s Name & Address

SSN/EIN

Date of Birth

Relationship to Account

Relationship to Account

Citizenship

Primary I.D. Document


Primary I.D. Document Number

Exp. Date

SECTION TWO* : ADDITIONAL CLIENT INFORMATION

Are you affiliated with or work for a member firm of a stock exchange or the Financial Industry Regulatory Authority? If yes, L.M. Kohn & Company will send your

employer notification of your intent to open an account as required by regulations.

Yes No

Are you a director, a policy-making officer, or a 10% shareholder of a publicly traded company?

If yes, name and address of company: _________________________________________________________________

Yes No _________________________________________________________________

Are you related to/associated with an employee or registered representative of L.M. Kohn & Company?

If yes, please state the employee name and relationship: ___________________________________________________________

Yes No

Investment Experience. Scale of 1 – 10, check box that most accurately corresponds to your level of sophistication as an investor (Check One) :

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

None Little Moderate Experienced Highly Sophisticated

Investor Time Horizon. When do you expect to cease accumulating assets in this account, and begin withdrawing significantly from the principal? (Check One) :

Less than 1 year 1 – 3 years 4 – 6 years 7 – 8 years 9 – 11 years 12 years or more

Typical Investment Holding Period. (Check One) :


Liquidity Needs. On an annual basis, what are your expected withdrawal needs from this account? (Check One) :

Less than $1,000 $1,000 - $9,999 $10,000 - $49,999 $50,000 - $99,999 $100,000 - $249,999 $250,000+

Investment Decision Making. How involved are you in making your investment decisions? (Check One) :

I make my own investment decisions and/or consult with someone other than my Financial Advisor

I discuss my investment decisions with my Financial Advisor, but I also consult other sources of financial information and/or discuss with other

parties.

I rely on the guidance of my Financial Advisor most of the time.

This is my first investment account other than my employer sponsored retirement program.





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L.M. KOHN & COMPANY



SECTION THREE* : SUITABILITY INFORMATION

Annual Income (all sources) :

Under $50,000 $50,000 – 99,999 $100,000 – 249,999

$250,000 – 499,999 $500,000 – 999,999 $1,000,000 +

Client Refused ¹

Joint Owner’s Annual Income (if applicable) :

Under $50,000 $50,000 – 99,999 $100,000 – 249,999

$250,000 – 499,999 $500,000 – 999,999 $1,000,000 +

Client Refused ¹

Net Worth – excluding home (combined if joint account) :

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹

Liquid Net Worth (combined if joint account) :

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹

Existing Investment Accounts (Check all that apply):

Retirement Plan (401k, 403b, 457, etc.) IRA (Simple, SEP, ROTH, Traditional, etc.) Non-Retirement (Individual, Joint, Trust, etc.)

Coverdell / 529 plan Fixed Indexed Annuity Variable Annuity Other ________________________________________________________

Client Refused ¹

Aggregate Asset Values of Existing Investment Accounts:

Under $100,000 $100,000 - $249,999 $250,000 - $499,999 $500,000 - $999,999 $1,000,000 - $2,999,999 $3,000,000 +

Client Refused ¹

Estimated Tax Bracket:

0-15% 16%-24% 25%-31% 32%-36% 37%+ Client Refused ¹

¹ Client Refused: This category allows you to document when a client has declined to provide financial information. Be aware, however, that responses in this category will diminish the

reliability of exception reporting that relies on this information.

SECTION FOUR* : INVESTMENT OBJECTIVE / RISK TOLERANCE

Choose ONE Investment Objective and ONE related Risk Tolerance - For definitions of the Investment Objectives, please refer to the Customer Acknowledgment Agreement Section 18:

Capital/Principal Preservation

I am willing to accept minimal risk, even if that means my investment does not generate significant income or returns and may not keep pace with inflation.

I am willing to accept low risk, including low volatility, and understand I could lose a modest amount of my investment.

Income



I am willing to accept moderate risk, including some volatility, to seek higher returns and understand that I could lose a portion of my investment.

Balanced / Conservative Growth




Growth



I am willing to accept high risk, including high volatility and understand I could lose a substantial amount of my investment.

Aggressive Growth / Aggressive Income



I am willing to accept maximum risk and understand I could lose all of my investment.

Speculation


I am willing to accept maximum risk and understand I could lose all of my investment.





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L.M. KOHN & COMPANY


CUSTOMER ACKNOWLEDGMENT FORM

SECTION FIVE*

Has your registered representative explained and do you understand the following as they may apply to your investments?

Administrative & Transfer Fees? Yes No

Surrender & Liquidation Charges? Yes No

Management & Advisory Fees? Yes No

Sales & Setup Charges? Yes No

Fluctuation of Yield? Yes No

Fluctuation of Share Values? Yes No

Date Prospectus Received: ______________________ (MM/DD/YYYY)

Representative has known client since: _______________________________

Source of Account:

Existing Client Referral Walk-In Cold Call Personal Acquaintance Seminar New Rep Transfer

Other: ____________________________

Any additional assets with this Fund Company that should be householded? If

yes, please attach information. Yes No

Breakpoint Eligible? :

Yes No

Client has an existing RBC CS account, or is in the process

of submitting one. Yes No

Initial Transaction Type:

Buy RIA Contract Transfer Rollover 1035

Change of Dealer Change of Rep

Transaction Solicited: Yes No

Initial 529 Plan: Yes ¹ No

¹ If Yes, MSRB Supervisor Initials Needed: ____________________

Complete if 529 Plan:

Home State 529 Plan Out of State 529 Plan ³

³ *I understand that I may be waiving tax benefits, including deductibility of contributions as well as

state tax exemption of earnings, from my home state by choosing an out of state 529 plan.

Client(s) Initials: ____________________

Is this a Municipal Bond Fund?: Yes ² No

² If Yes, MSRB Supervisor Initials Needed: ____________________

Standing Instructions:

____________________________________________________

____________________________________________________

____________________________________________________

SECTION SIX* : TRUSTED CONTACT PERSON

The trusted contact person is intended to be a resource in protecting your assets and responding to possible financial exploitation. The trusted contact person may be contacted, and

pertinent account information may be disclosed to the trusted contact person, as necessary, to address possible financial exploitation, to confirm your current contact information, health

status or the identity of any of your authorized representatives (e.g. POA, trustee, etc.) or beneficiaries. A trusted contact is not an authorized party on the account and no instructions from

him/her will be accepted to effect transactions and/or change information related to the account.

First Name

M.I.

Last Name

Phone Number E-Mail Address

Address Apt/Suite

City State Zip Code

Relationship

Child Domestic Partner Parent Sibling Spouse

Other Relative Other: ____________________________________

Client declined to provide





Updated 02-2018

L.M. KOHN & COMPANY


CUSTOMER ACKNOWLEDGMENT FORM

HOME OFFICE USE ONLY

Registered Representative(s) is Licensed in Client’s State of Residence:

Yes No

Check Attached to This Application?:

Yes No

Fund / Insurance Company Application Forwarded On By:

Fax Mail Overnight

OFAC Check:

___________________________________________________________

SECTION SEVEN* : CLIENT SIGNATURES

Under penalties of perjury, I certify that the information on this form is true, correct and complete. In consideration of your accepting this account, I hereby acknowledge that I have read,

understand and agree to the terms set forth in the Customer Acknowledgment Agreement (including the predispute arbitration clause, a copy of which I have received, as found in section

19. All persons must sign if this is a joint account.

Client Signature Date Registered Representative(s) Signature Date

Print Client Name & Title (if applicable) From Above Print Registered Representative(s) Name(s) Rep Number

Joint Tenant or Co-Owner Signature Date Registered Principal Approval Date

Print Joint Owner Name & Title (if applicable) From Above Print Name of Registered Principal




Updated 02-2018

L.M. Kohn & Company


CUSTOMER ACKNOWLEDGMENT FORM MINOR INFORMATION

Name of Minor Minor’s SSN Minor’s DOB

Suitability:

Investment Time Horizon (Check One) :


Investment Objectives (for definitions, please refer to the Customer Acknowledgement Agreement Section 18) :

Capital/Principal Preservation Income Balanced/Conservative Growth Growth Aggressive Growth/Income Speculation

THIS IS A 529 PLAN, THE FOLLOWING INFORMATION IS THE SAME AS IN SECTION THREE


Under $50,000 $50,000 – 99,999 $100,000 – 249,999

$250,000 – 499,999 $500,000 – 999,999 $1,000,000 +

Client Refused ¹

Net Worth:

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹

Liquid Assets:

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹

Estimated Tax Bracket (check one) :

0-15% 16%-24% 25%-31% 32%-36% 37%+

Investment Experience (check one) :



Suitability:







Under $50,000 $50,000 – 99,999 $100,000 – 249,999

$250,000 – 499,999 $500,000 – 999,999 $1,000,000 +

Client Refused ¹

Net Worth:

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹

Liquid Assets:

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹


0-15% 16%-24% 25%-31% 32%-36% 37%+




Suitability:







Under $50,000 $50,000 – 99,999 $100,000 – 249,999

$250,000 – 499,999 $500,000 – 999,999 $1,000,000 +

Client Refused ¹

Net Worth:

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹

Liquid Assets:

Under $100,000 $100,000 – 249,999 $250,000 – 499,999

$500,000 – 999,999 $1,000,000 – 2,999,999 $3,000,000 +

Client Refused ¹


0-15% 16%-24% 25%-31% 32%-36% 37%+



CLIENT(S) INITIALS:




Updated 02-2018

L.M. KOHN & COMPANY


Date ______________________

Account number(s)___________________________________________________________________

__________________________________________________________________________________

I / we affirm that our Registered Representative has reviewed with us the common mutual fund share class structures; “A”,

“B” and “C” shares. I / we also affirm that I / we have read and understand the “Mutual Fund Fee, Expense and Risk

Disclosure” document.

I / we are aware that by purchasing “C” shares and/or A shares in multiple fund families, it is understood that I / we may be

giving up a breakpoint, and that by purchasing C shares over time, depending on the breakpoint level, I / we may have higher

total expenses versus an “A” share purchase which includes an upfront fee. I / we also are aware that, depending on the fund

family, this purchase may cause these shares to be excluded from future potential breakpoint eligibility calculation methods.

IF I / we wish to purchase “C” share mutual funds in our accounts due to our typical investment holding period, we do not

wish to pay any upfront sales charges regardless of any potential breakpoints and forgo any future potential breakpoint

eligibility. I / we understand that selling “C” share mutual funds prior to the fulfillment of the CDSC period stated in the fund

prospectus could result in deferred sales charges.

I / we may already own more than one share class of a single or multiple mutual funds families from previous

recommendations.

I/ we understand that my advisor may recommend more than one share class of a mutual fund family, or may recommend

more than one mutual fund family depending on a number of factors including but not necessarily limited to: the length of

time I / we may intend to hold the investment, to take advantage of current market offerings and pricing to meet near term

objectives, or to meet new objectives that are not necessarily in line with our overall investment objectives.

I / we realize it is NOT L.M. Kohn & Company policy to recommend the sale and purchase of securities unless a client’s

investment objectives can be better served.

This will be my / our standing instructions unless we provide in writing that we wish to change our preference on share classes

for all accounts listed above.

This affects our non-fee based account(s) only, whether held directly at the investment company or through one of the RBC

fee based platforms.

___________________________________________ ____________________________________________

(Client’s Signature) Client Name Printed

___________________________________________ ____________________________________________

(Client signature joint account) Client Name printed joint account

___________________________________________ ____________________________________________

(Representative(s) Signature) Rep Name & Number

__________________________________________

(Manager of Office of Supervisory Jurisdiction)




Updated 02-2018

L.M. KOHN & COMPANY


Customer Acknowledgment Agreement

I (we), the customer(s) or his (their) legal representative (hereafter referred to as “Customer”) hereby acknowledge to L. M. Kohn & Company (LMK) and its registered

representatives listed below (hereafter referred to collectively as “L. M. Kohn & Company (LMK)” that:

1. Customer understands that the investment or insurance products being offered are not insured by the Federal Deposit Insurance Corporation (FDIC),

The National Credit Union Association (NCUA) or any government agency, are not deposits or other obligations of the institution, are not guaranteed by

the institution, and are subject to investment risks including possible loss of principle investment.

2. Customer is of legal age in his state of residence or domicile and is authorized to enter into this agreement.

3. Customer has received and reviewed the current prospectus(es) for the investment(s) applied for.

4. Customer understands the objectives and risks of the investment applied for and acknowledges that there can be no assurance that such objectives will be

achieved.

5. Customer understands, as applicable, the distinction among classes of a multi-class fund.

6. Customer understands the concept of total return, yield, and distribution rates as applies to mutual funds.

7. Customer acknowledges that LMK will not maintain an account. Customer understands that his funds will be invested in securities selected by Customer and all such accounts will be maintained by the respective investment or life insurance company, which issues the securities. Customer agrees to be bound by the terms

and conditions (as set forth in the account application, subscription agreement, custodial agreement, contract, or any other separate agreement) of each respective

investment or life insurance company investment.

8. Customer acknowledges that confirmations and account statements will be provided by the respective investment/insurance Companies, and not by LMK.

Customer understands that disputes regarding confirmations or accounts will be handled between him and the respective investment or insurance company, and

not LMK.

9. Customer acknowledges that LMK will not repurchase his securities, and that requests for redemption of his securities should be addressed to the issuer of the

securities.

10. Customer appoints LMK as his agent for the purpose of carrying out his directions with respect to the purchase and sale of securities in accordance with the terms and conditions of this acknowledgment.

11. Customer understands that LMK does not act as a Registered Investment Advisor with respect to the purchase or sale of securities Customer may make, and that

no fiduciary relationship exists. All transactions will be done only by order of Customer or his authorized representative, and LMK shall only transact securities on an agency (not principal) basis.

12. LMK shall not be liable for loss caused directly or indirectly by war, natural disasters, government restrictions or other conditions beyond its control, including but not limited to exchange or market rulings, extreme trading volumes or market volatility.

13. Customer agrees not to buy any securities of a corporation of which he is an affiliate or sell any restricted securities except in compliance with applicable laws and

regulations and upon notice to LMK that the securities are restricted.

14. This agreement shall be governed by the laws of the state of Ohio.

15. Communications may be sent to Customer at his current address (as disclosed in writing now or in the future to LMK), and all communications so sent, whether

by mail, delivery service, or otherwise shall be deemed given to customer personally, whether actually received or not.

16. LMK reserves the right to record any and all phone communication with the home office to insure quality control.

17. This agreement applies only to investments placed at retail with LMK. Investments introduced by LMK to other firms, will be covered by separate agreement.

18. Investment Objectives Definitions: Capital Preservation: The objective of Capital Preservation is to protect your initial investment by choosing investments that minimize the potential of any loss of principal. The long-term risk of capital preservation is that the returns may not be adequate to offset inflation. Income: The

primary objective of an income strategy is to provide current income rather than long-term growth of principal. Balanced/Conservative Growth: The primary

objective of Balanced/Conservative Growth is to provide reasonable growth with less volatile performance by looking at fixed income and blue chip type equity investments, the more risk averse, the more that is allocated toward fixed income with a moderate duration. Growth: The objective of a growth strategy is to

increase the value of your investment over time while recognizing a high likelihood of volatility. Aggressive Growth: The objective of an aggressive growth

strategy is above average capital appreciation by investing in issues that may generally be more volatile than the overall market. Risk of capital loss is high in this category. Speculation: A speculator’s objective is to assume a higher risk of loss in anticipation of potentially higher-than-average gain by taking advantage of

expected price changes.

19. Predispute Arbitration Agreement: This Customer Acknowledgment Agreement is subject to the arbitration rules of the Financial Industry Regulatory

Authority. Customer should be aware that:

(i) Arbitration is final and binding on the parties.

(ii) The parties are waiving their right to seek remedies in court, including the right to jury trial.

(iii) Pre-arbitration discovery is generally more limited than and different from court proceedings.

(iv) The arbitrator’s award is not required to include factual findings or legal reasoning and any party’s right to appeal or to seek

modifications of rulings by the arbitrators is strictly limited.

(v) The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

Arbitration may not be binding in cases of class action; No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-

dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted

out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or

(iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights

under this agreement except to the extent stated herein.

Customer agrees that all controversies that may arise between customer and LMK concerning any order or transaction, or the continuation, performance or

breach of this acknowledgment or any other agreement between them, whether entered into before, on, or after the date of this acknowledgment is executed,

shall be settled before a panel of independent arbitrators set up by the Financial Industry Regulatory Authority. Customer understands that judgment upon

any arbitration award may be entered in any court of competent jurisdiction.

Any Customer complaints must be directed to: Carl R. Hollister

President & COO

L.M. Kohn & Company

10151 Carver Rd, Suite 100

Cincinnati, OH 45242




Updated 02-2018

L.M. KOHN & COMPANY


Mutual Fund Share Class Fee, Expense, and Risk Disclosure

What is a Mutual Fund?

A mutual fund is a collective investment vehicle managed by a professional investment company that pools money from many people and invests it in stocks, bonds, or other securities. Each investor owns shares, which represent a part of these holdings. All mutual funds will redeem (buy back) your shares on any business day. When you buy shares, you pay the current net asset value (NAV) (the value of one share in a fund) per share, plus any sales charge (also known as a load). When you sell your shares, the fund will pay you NAV less any other sales load. As with individual stocks, the share price of mutual funds fluctuates and the value of an investment may be more or less than its original cost. Mutual funds can be a great way to invest because:

- They are a collection of many stocks and/or bonds, so your investment risk is spread out - They are managed by professional fund managers who invest the pooled money into individual securities - Costs associated with the underlying security are often lower than what you would pay on your own because the fund buys and sells large

amounts of securities at a time

Mutual Funds and Taxes Taxes can significantly reduce the net returns on your mutual fund investment, so you should pay close attention to them.

- Some funds pay dividends on a monthly, quarterly, or annual basis. Dividends are distributed to shareholders on a pro rata basis. They must be reported on your tax return (whether reinvested or paid in cash) in the year of distribution.

- Short-term and Long-term capital gain distributions (representing the fund's net gains from securities sales) must be reported on shareholders tax returns. - When you redeem shares of a fund, you generally must pay tax on any capital gain realized. The amount of tax to be paid on a gain

depends on the rate at which the gain is taxed (short-term or long-term), which in turn depends on how long you owned the fund shares prior to selling them.

The Costs Associated with Mutual Funds When investing in a mutual fund, you may have the opportunity to choose among several share classes, most commonly class A, class B, and class C. The differences among these share classes typically revolve around how much you will be charged for buying the fund, when you will pay any sales charges that apply, and the amount you will pay in annual fees and expenses. This multi-class structure offers you the opportunity to select a share class that is best suited to your investment goals and your expected investment holding period.

Mutual funds have costs that are passed on to investors. It's important for you to understand what the different costs are, since these are usually deducted from the money you've invested and can affect the return of your investment over time.

Typically, mutual fund costs consist of sales charges and annual expenses. The sales charge or load, is deducted from your investment when you buy the fund, or when you sell it. The annual expenses cover the fund's operating costs, including management fees, distribution and service fees (commonly known as 12b-1 fees), and general administrative expenses. They are generally computed as a percentage of your assets and then deducted from the fund before the fund's returns are calculated. (To better understand what these charges are, you should review the Fees and Expenses section of the fund's prospectus.)

So which share class should you choose? That answer depends on multiple factors, including how much you want to invest and your investment time horizon.

Class A shares Class A shares may appeal to you if you're considering a long-term investment. When you purchase class A shares, a sales charge, called a front-end load, is typically deducted upfront, thus reducing the actual amount of your initial investment. For example, suppose if you decide to invest $35,000 in class A shares with a hypothetical front-end sales load of 5.0 percent. You will be charged $1,750 on your purchase, and the remaining $33,250 will be invested. However, class A shares offer you discounts called breakpoints, on the front-end load if you buy shares in excess of a certain dollar amount. Typically, a fund will offer several breakpoints, so the more you invest the greater the reduction in the sales load. For example, let's say that a mutual fund charges a load of 5.0 percent if you invest less than $50,000, but reduces that load to 4.50 percent if you invest at least $50,000 but less than $100,000. This means that if you invest $49,000, you'll pay $2,450 in sales charges, but if you invest $50,000 (i.e., you reach the first breakpoint), you'll pay only $2,250 in sales charges. You may also qualify for breakpoint discounts by signing a letter of intent and agreeing to purchase additional shares within a certain period of time (generally 13 months), or by combining your current purchase with other investment holdings that you or your spouse and children have within the same fund or family of funds (called a right of accumulation). Since rules vary, read your fund's prospectus to find out how you may qualify for available breakpoint discounts, or contact your financial consultant for more information. Class A shares tend to have lower total annual expenses due to lower 12b-1 fees than either C share or even B share mutual funds, thus reducing your overall costs over time. This may make class A shares more attractive to you if you wish to hold on to the fund for a longer period of time.




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L.M. KOHN & COMPANY


Class B Shares When you purchase class B shares you are putting 100% of your investment to work immediately since there is no front-end sales charge as in the A shares, however there might be significantly higher costs associated with this share class. The first cost to note is the higher annual ongoing 12b-1 expenses. The second concern with this share class is the Contingent Deferred Sales Charge (CDSC). Most B share mutual funds have a 7 year holding period before the expiration of any CDSC which can be as high as 6.0 percent. If you were to redeem shares prior to the end of the stated CDSC period, you would be subject to a fee imposed by the fund. In many cases B share mutual funds convert to the lower annual expense class A shares after the expiration of the CDSC. In essence B shares lock your money up for a 7 year period (some mutual funds have different CDSC periods.) This share class may be more suitable for investors who typically hold their investment positions for 7 or more years and do not qualify for a breakpoint.

Class C shares When you purchase class C shares, a front-end load is normally not imposed. There is a CDSC charge, typically 1.0 percent, that is reduced to zero if you hold the shares beyond the CDSC period, which for class C shares is typically 12 months. For those reasons class C shares may be appropriate if you intend to keep the fund for less than 5 years. The 12b-1 fees are greater for class C shares than for class A shares. The expenses will not decrease during the life of the investment, because C class shares generally don't convert to class A shares. In addition, there are no breakpoints available for large purchases.

Risk & Past Performance Because each fund pursues its own unique investment objectives, each fund has its own set of risks. While equity funds invest principally in common stocks and other equity securities and the fixed income funds invest principally in bonds and other fixed income securities, in order to achieve their investment objectives, the funds may at times use certain types of investment derivatives, such as options, futures, forwards and swaps. These instruments involve risks different from, and in certain cases, greater than, the risks presented by more traditional investments. For funds that can invest in foreign securities, which may include emerging markets securities, risks may be magnified due to changes in foreign exchange rates and the possibility of substantial volatility due to political and economic uncertainties in foreign countries. Funds that invest substantially all of their assets in foreign securities include risks not associated with funds that invest primarily in U.S. issues. Because those funds will invest in foreign currency denominated securities, fluctuations may be magnified by changes in foreign exchange rates. These risks are fully discussed in each fund's prospectus.

- Each mutual fund has a prospectus and other literature that describe the fund's objective, how it plans to achieve that objective, and the fund's style of investing. The prospectus also discloses important specific details about the fund that you should be aware of, including allowable investments, fund costs, past performance, risks, and financial statements. Always read a fund's prospectus before investing.

- For further information on mutual fund classes, log on to the website of the Financial Industry Regulatory Authority (FINRA) at www.finra.org. You can also find information on the Securities and Exchange Commission (SEC) website at www.sec.gov.

- As you consider how best to invest in mutual funds, keep in mind that there is no guarantee any mutual fund will achieve its investment objective. You should discuss all of your investment goals with your financial consultant. Mutual funds are not guaranteed or insured by the FDIC or any other government agency. You can lose money investing in mutual funds.

- Past performance does not guarantee future results. Current performance may be lower or higher than past performance. The investment return and principal value of an investment in the fund will fluctuate as the prices of the individual securities in which it invests fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing

For Further information please contact your financial consultant or the home office at 1-800-478-0788. For mutual fund share class cost comparisons go to www.lmkohn.com and click Important Client Information and then click on FINRA Mutual Fund

Fee Analyzer. You may also go directly to FINRA’s website, www.finra.org and select Tools & Calculators or go to http://apps.finra.org/fundanalyzer/1/fa.aspx



http://www.lmkohn.com/



Updated 02-2018

L.M. KOHN & COMPANY


Business Continuity Planning Statement

L. M. Kohn & Company maintains important disaster recovery and business continuity plans that may be activated in the

event of a significant business disruption. The firm realizes the critical nature of being able to continue material

operations if an incident occurs that could affect mission-critical business units and systems. These plans are key

components in maintaining emergency procedures, and are required by securities industry regulations.

In planning for potential significant business disruptions, L.M. Kohn & Company has studied a number of outcomes from

varying scenarios, including, as examples only, a disruption to a single building, a city-wide business disruption, and a

regional disruption. The firm’s plans are intended to permit the continuation of key business operations during most types

of disruptions by resuming mission-critical operation, usually within the same business day as the disruption. To assist

this business continuity, the firm maintains back-up technology processing capabilities in alternate locations. In cases of

an extreme disruption, where the continuation of business may not be practical or in the best interest of the firm or its

clients, L.M. Kohn & Company has implemented steps necessary to allow clients prompt access to their funds and

securities.

However, clients should be aware that because the firm’s plans contain details of a confidential and proprietary nature,

they cannot be distributed to the public. Clients should also note that L.M. Kohn & Company’s business continuity plan

is subject to modification, and that updates to this Business Continuity Planning Statement will be promptly posted on

L.M. Kohn & Company’s Web site, as permitted by applicable law. Questions regarding our Business Continuity Plan

should be directed to [email protected].

Important Information About Procedures for

Opening a New Account With L.M. Kohn & Company

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial

institutions to obtain, verify, and record information that identifies each person who opens an account.

L.M. Kohn & Company falls under the definition of “financial institution.”

What this means to you:

When you wish to open an account with L.M. Kohn & Company, we will ask for your name, address, date of birth and

other information which will allow us to adequately identify you.

We may also ask to see your driver’s license, passport or other appropriate identifying documents.

If it becomes necessary for you to change your address, please contact your Registered Representative immediately to

obtain an address change request form to ensure that your account statements and notifications are delivered to the proper

address. Giving notice to the U.S. Postal Service WILL NOT update your address in our systems.

Thank you for your assistance in this matter of greatest importance as we all make every effort to combat identity

theft, terrorism, the funding of terrorism, illegal money laundering schemes and fraud.




Updated 02-2018

FACTS

WHAT DOES L.M. KOHN & COMPANY DO WITH YOUR PERSONAL INFORMATION?

Why?

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. You are receiving this privacy notice because you are a client of L.M. Kohn & Company. The Gramm-Leach-Bliley Act of 1999 requires each member of the financial services industry to communicate its policy to consumers at the time of establishing a customer relationship. Furthermore, the act requires annual notification to all customers.

■ What?

The types of personal information we collect and share depend on the product or service you have with us. The information we collect comes primarily from answers given to us by you. This includes such information as your name, address and Social Security number that you have provided on applications, agreements or other forms. In addition, we maintain records of each of your transactions and holdings.

■

■ How?

To whom we disclose the information & the reasons we can share this information

All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons L.M. Kohn & Company chooses to share; and whether you can limit this sharing.

■

■

Reasons we can share your personal information

Does L.M.

Kohn &

Company

share?

Can you limit this sharing?

For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus

To other companies as necessary to process your business. For example, we transmit your personal information to investment companies and insurance companies. Third parties in this category, like those in the category above, must limit their use of the information to the purpose for which it was provided.

Where required by law or regulation.

Examples include responses to a subpoena, court order or regulatory demand, and as part of the Anti-Money Laundering Provisions as detailed in the U.S. Patriot Act.

■

■

YES

NO

For our marketing purposes —

to offer our products and services to you

NO

We do not share

For joint marketing with other financial companies —

To companies with whom we have joint marketing agreements. A joint marketing agreement is one in which another financial institution offers a product or service jointly with L.M. Kohn & Company, such as RBC Correspondent Services, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC our clearing firm for trade executions and reporting of assets, TD Ameritrade for custody services and investment companies such as but not limited to SEI and CLS.

■

YES

NO

For our affiliates' everyday business purposes —

information about your transactions and experiences

YES

NO

For our affiliates' everyday business purposes —

information about your creditworthiness

NO

We do not share

For our affiliates to market to you

NO

We do not share

For non-affiliates to market to you

NO

We do not share




Updated 02-2018

What we do

How does L.M. Kohn & Company

protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

■

How does L.M. Kohn & Company

collect my personal information?

The information we collect comes primarily from answers given to us by you. This includes such information as your name, address and Social Security number that you have provided on applications, agreements or other forms. In addition, we maintain records of each of your transactions and holdings.

Why can't I limit all sharing? Federal law gives you the right to limit only

■ sharing for affiliates' everyday business purposes - information about your creditworthiness

■ affiliates from using your information to market to you for marketing

■ sharing for non-affiliates to market to you – We do not share information for marketing

State laws and individual companies may give you additional rights to

limit sharing. [See below for more on your rights under state law.]

For California residents, we will limit the sharing of your nonpublic personal information with other RBC companies to the extent required by applicable California privacy laws.

What happens when I limit sharing

for an account I hold jointly with

someone else?

Your choices will apply to everyone on your account.

Who we are

Who is providing this notice?

L.M. Kohn & Company, as an independent securities broker-dealer, is committed to safeguarding the confidential information of its clients. Respect for our customers’ privacy has long been highly valued at L.M. Kohn & Company. Not only is it what our customers expect, it’s the right way to conduct our business. Our privacy promise derives from basic principles of trust, ethics and integrity.

Sharing

Policy ■ Call (800) 478-0788 our menu will prompt you through your choice(s).

■ Visit us online: www.lmkohn.com

Please note:

If you are a new customer, we can begin sharing your information immediately only with companies where your assets are held from the date you open an account. When you are no longer our customer, we continue to share your information as described in this notice.

You can contact us at any time to discuss our sharing policy.

Questions? Call (800) 478-0788 or go to www.lmkohn.com






Updated 02-2018

Definitions ■ Affiliates Companies related by common ownership or control. They can be

financial and nonfinancial companies.

■ Non-affiliates Companies not related by common ownership or control. They can be

financial and nonfinancial companies. We only share with Non-LMK affiliates upon your request as authorized by you. You may direct us, for example, to send your account statements and trade confirmations to a third party. You may direct us to provide information to other trusted advisors such as an attorney or CPA.

■ Joint marketing ■ A formal agreement between nonaffiliated financial companies that

together market financial products or services to you.

■ We need to share with print and mail Companies to send communications

Other important information Proxy Notices. L.M. Kohn & Company does not vote proxies on behalf of clients. All proxy material is forwarded to our clients by our clearing firm RBC Correspondent Services.

Governing Bodies. Please note that you may contact the Financial Industries Regulation Authority (FINRA) at www.FINRA.org, or the Securities Investor Protection Program (SIPC) at www.SIPC.com or (202) 371-8300.

EMMA Website for Municipal Bonds - you may now find official statements, continuing disclosure of “material events” with respect to any municipal bond issue, as well as other information about bonds you may have purchased. Log on to http://emma.msrb.org utilizing the CUSIP number of the municipal bonds you may purchase.

FINRA BrokerCheck Tool – BrokerCheck is a free tool to help investors research the professional backgrounds on current and former

FINRA-registered brokerage firms and brokers. You may access FINRA BrokerCheck through the www.finra.org website or by calling BrokerCheck toll free (800) 289-9999.

Securities Investor Protection Corporation (“SIPC”). - SIPC is the first line of defense in the event a brokerage firm fails owing customer’s cash and securities that are missing from customer accounts. SIPC protection does not cover a decline in the value of your assets due to market loss. You may obtain information about SIPC, including the SIPC brochure by accessing SIPC’s website at: www.sipc.org or by calling: (202) 371-8300.

Business Continuity Plan – L.M. Kohn & Company (the “Firm”) is committed to protecting our employees, clients and their assets at all times, including in times of emergency. As part of this commitment, and in compliance with internal management policy and industry regulations (FINRA, NFA, et al), the Firm maintains a business continuity plan (the Plan). The Plan provides for sustainable operating environments during any crisis/incident or major business interruption that adversely impacts the Firm’s ability to conduct business. The Plan addresses various scenarios including but not limited to a departmental disruption, building, city-wide or regional disruption, or a pandemic incident. Because the Plan contains details of a confidential and proprietary nature, it is not distributed to the public.





http://emma.msrb.org/


http://www.sipc.org/

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