By clicking “Yes” below, you acknowledge and agree as follows:

1. Access to the Advantage Hypotheticals Tool is provided on your understanding that Franklin Templeton is not acting as an “investment adviser” (as defined under the Investment Advisers Act of 1940) or as a “fiduciary” (as defined under the Employee Retirement Income Security Act of 1974), nor is engaged in rendering impartial investment advice, legal, accounting, fiduciary, tax or other professional services to you or your customers.
2. You are a representative of a broker-dealer or investment adviser (together, “your firm”) registered with the SEC, FINRA and/or the applicable states in which you or your firm conduct business. You, your firm, and your firm’s personnel (i) are capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; and (ii) will exercise independent judgment in evaluating any information provided by the Tool.
3. While certain holdings identified in the Tool’s output report may be managed by Franklin Templeton, Franklin Templeton is not providing individualized investment advice or investment recommendations to your clients. Only you can determine what to recommend to your client based on your client’s particular investment needs. The output report is intended for informational and educational purposes only.