It is the policy of FMA Advisory, Inc to keep confidential nonpublic personal information ("information") pertaining to each current and former client (i.e., information and records pertaining to personal background, investment objectives, financial situation, tax information/returns, investment holdings, account numbers, account balances, etc.) unless FMA Advisory, Inc. is: (1) previously authorized by the client to disclose information to individuals and/or entities not affiliated with FMA Advisory, Inc., including, but not limited to the client's other professional advisors and/or service providers (i.e., attorney, accountant, insurance agent, broker-dealer, investment adviser, account custodian, etc.); (2) required to do so by judicial or regulatory process; or (3) otherwise permitted to do so in accordance with the parameters of applicable federal and/or state privacy regulations. The disclosure of information contained in any document completed by the client for processing and/or transmittal by FMA Advisory, Inc. in order to facilitate the commencement/continuation/termination of a business relationship between the client and a nonaffiliated third party service provider (i.e., broker-dealer, investment adviser, account custodian, insurance company, etc.), including information contained in any document completed and/or executed by the client for FMA Advisory, Inc. (i.e., advisory agreement, client information form, etc.), shall be deemed as having been automatically authorized by the client with respect to the corresponding nonaffiliated third party service provider. Each individual and/or entity affiliated with FMA Advisory, Inc. is aware of FMA Advisory, Inc.'s Privacy Policy, and has acknowledged his/her requirement to comply with it. In accordance with FMA Advisory, Inc.'s Privacy Policy, each such affiliated individual and/or entity shall have access to information to the extent reasonably necessary for FMA Advisory, Inc. to perform its services for the client, and to comply with applicable regulatory procedures and requirements.

FMA Advisory, Inc. ("FMA") is a SEC registered investment adviser located in Harrisburg, Pennsylvania. FMA and its representatives are in compliance with the current registration and/or notice filing requirements imposed upon registered investment advisors by those states in which FMA maintains clients. FMA may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. FMA's web site is limited to the dissemination of general information pertaining to its investment advisory and financial planning services. Accordingly, FMA does not, and will not, effect or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by FMA with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of FMA, please contact the United States Securities and Exchange Commission and/or the state securities law administrators for those states in which FMA maintains a notice filing. A copy of FMA's current written disclosure statement discussing FMA's business operations, services, and fees is available from FMA upon written request. FMA does not make any representations or warranties as to the accuracy, completeness, or relevance of any information prepared by an unaffiliated third party provider, whether linked to FMA's web site or incorporated herein. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.