These reports are not to be construed as an offer to buy or sell securities mentioned herein. Information contained in these reports is based on sources and data believed reliable. The information used to construct these reports was received via a variety of sources. These reports are for informational purposes only. These reports do not take the place of any brokerage statements, any fund company statements, or the 1099 tax forms. You are urged to compare this report with the statement you receive from your custodian covering the same period. Differences in positions may occur due to reporting dates used and whether certain assets are not maintained by your custodian. There may also be differences in the investment values shown due to the use of differing valuation sources and methods.
Performance is shown net of fees for accounts where the investment advisory fees are debited from the account. The default calculation method used for performance is Internal Rate of Return (IRR); however, where Time Weighted Rate of Return (TWRR) is reported TWRR is calculated net of all fees. For accounts who pay their fees outside of the account, performance is shown gross of, and will be reduced by, our advisory fees. Time Weighted Rate of Return (TWRR) is used to compare your portfolio returns versus benchmark indices (such as S&P 500). Internal Rate of Return (IRR) is the return rate that equates to cash flows and ending market value to the beginning market value.
Annuity Disclosure - If applicable to your situation, a fixed annuity or a fixed index-annuity value is shown as of the date as indicated on the various reports generated by ORION when run by account; however, a fixed annuity or a fixed-index annuity is not included in any performance reports generated by ORION. We urge you to compare the statement you receive from the insurance company with reports generated by Orion covering the same period.
Employer-sponsored retirement accounts or similar accounts - If applicable to your situation, an employer-sponsored retirement account (e.g. 401(k) or similar account where Orion does not have a feed for the account), the value is shown as of the end of the previous quarter’s balance as indicated on various reports generated by ORION; however, the account is not included in any performance reports generated by ORION. We urge you to compare the statement you receive from the custodian with the reports generated by ORION covering the same period.