My GUIL

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_{NOT A DEPOSIT | NOT FDIC INSURED | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT GUARANTEED BY THE BANK | MAY GO DOWN IN VALUE}

_{Guil may be appropriate for clients who do not desire/require ongoing communications with Grey Ledge Advisors regarding their investment portfolios and are comfortable with the technological aspects of Guil. An investment advisor that uses algorithmic and other technology-based programs to provide clients with discretionary asset management services is typically offering an investment program with limited human interaction through an online, electronic-based delivery model. In contrast to traditional advisory relationships where investment advisor personnel typically interact with clients to form a basis for the investment advice given, automated investment programs and platforms rely on other techniques such as online questionnaires to gather client information in order to make suitability determinations for their clients. Limited human interaction between investment advisory personnel and clients presents unique challenges and risks. If there is no human interaction involved in an automated investment program, there is no opportunity to explain the context for the questions asked, to ask follow-up questions about a client’s responses, to provide assistance to clients completing the questionnaire or to address inconsistencies in client responses. Moreover, an advisor may have limited information and transparency on the algorithms designed and maintained by third-party program sponsors or participants. Even small changes to the algorithms used may cause significant changes to a client investment account. Consequently, automated investment programs should only be used by individuals not requiring sophisticated modeling or frequent personal interactions with advisory personnel and those comfortable with the technological aspects of a particular investment platform.}

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