Assumptions & Disclosures

55ip Table Assumptions – Hypothetical Wealth Creation With and Without Active Tax Management

Backtested performance of two $1M accounts invested in 60/40 Global Allocation strategy (60% S&P and 40% AGG exposure), one with active tax
management and one without active tax management.
• One account has active tax management and has benefited from 0.81% of after-tax over-performance over the other account without active tax
management.
• Average gross post-tax returns are assumed to be 6.29% which is the average post-tax return of a 60% SPY ETF and 40% AGG ETF portfolio for
last 10 years (from 2007 until 2017). Gross returns imply returns without considering management fees.
This chart depicts the historical investment performance of a portfolio or index including capital appreciation/depreciation, dividends and other
investment income. Past performance is not indicative of future returns. Estimated returns are derived from simulated models or historical back tests
and scenario analysis when sufficient historical data is unavailable. These hypothetical returns do not reflect actual trading and therefore do not
account for market risks, economic conditions, taxes, fees or expenses.
While calculating wealth creation estimates and projections, it is assumed a portfolio will grow cumulatively at the average annual rate of return (not
actual rate of return) of the portfolio of securities input during the holding period from Jan 2007 until approximately the date of the report or chart
displayed (the “Backtest Period”).

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55ip is the marketing name used for software licensed by 55 Institutional Partners, LLC, an investment technology provider, and for investment advisory services provided by 55I, LLC, an SEC-registered investment adviser.

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Neither 55 Institutional Partners, LLC, nor 55I, LLC provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

BlackRock Disclosures

55 Institutional Partners, LLC and its affiliates  (“55ip”) is a registered investment adviser that offers access to the third-party strategies provided herein in addition to other services.  BlackRock Fund Advisors (collectively with its affiliates, “BlackRock”) provides investment ideas in the form of model portfolios, to 55ip for use in the software offered herein. 55ip receives a service fee from BlackRock as consideration for the services 55ip provides its customers in relation to the BlackRock Model Portfolios. The BlackRock Model Portfolios are provided for illustrative and educational purposes only, do not constitute research, personalized investment advice or a fiduciary investment recommendation from BlackRock or 55ip to any client of 55ip, and are intended for use only by 55ip customers, with other  information, as a resource to help build a tailored portfolio or as an input in the development of investment advice from a Financial Advisor to its own clients and shall not be the sole or primary basis for a Financial Advisor. Financial Advisors are responsible for making their own independent fiduciary judgment as to how to specifically use the BlackRock Model Portfolios and/or whether to implement any trades for its designated clients. BlackRock does not have investment discretion over, or place trade orders for, any portfolios or accounts derived the BlackRock Model Portfolios. BlackRock is responsible for the methodology of the Model Portfolios; it is not responsible for determining the individual appropriateness or suitability of the BlackRock Model Portfolios or any of the securities included therein for any client of 55ip. Information and other marketing materials provided by BlackRock or 55ip concerning the BlackRock Model Portfolios including holdings, performance, and other characteristics – may vary materially from any portfolios or accounts derived from the BlackRock Model Portfolios. Any performance shown for the BlackRock Model portfolios does not include brokerage fees, commissions, or any overlay fee for portfolio management, which would further reduce returns. There is no guarantee that any investment strategy will be successful or achieve any particular level of results. The BlackRock Model Portfolios themselves are illustrative, they are not funds and one cannot invest directly in the Model Portfolios. The BlackRock Model Portfolios, allocations, and data are subject to change.BlackRock and 55ip are not affiliated. BlackRock disclaims responsibility for any content provided by 55ip.

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