1Tax exempt bonds may be subject to state, local or the Alternative Minimum Tax.
2Margin borrowing may not be suitable for all investors. When you use margin, you are subject to a high degree of risk. Market conditions can magnify any potential loss. The value of the securities you hold in your account, which will fluctuate, must be maintained above a minimum value in order for the loan to remain in good standing. If it is not, you will be required to deposit additional securities and/or cash in the account or securities in the account may be sold. Clients are not entitled to choose which securities in their accounts are sold. The sale of their pledged securities may cause clients to suffer adverse tax consequences. Clients should discuss the tax implications of pledging securities as collateral with their tax advisors. An increase in interest rates will affect the overall cost of borrowing. Wells Fargo Advisors Financial Network and its affiliates are not tax or legal advisors. Margin strategies are not suitable for retirement accounts. Please carefully review the margin agreement, which explains the terms and conditions of the margin account, including how the interest on the loan is calculated.
3Wells Fargo Advisors Financial Network is not a legal or tax advisor. However, we will be glad to work with you, your accountant, tax advisor and/or lawyer to help you meet your financial goals. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice in your state. Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
