UBS Strategic Advisor is a non-discretionary, wrap-fee advisory program designed to provide you with ongoing advice, guidance and flexibility with the simplicity of one annual asset-based fee.

The foundation of UBS Strategic Advisor is the working relationship between you and your Financial Advisor, a key to pursuing your investment goals. A Financial Advisor who understands your needs is positioned to help you develop an investment strategy and provide the ongoing advice necessary for you to manage your investments over time. Your Financial Advisor's goal is to provide you with comprehensive investment advice, relying upon:

• Your UBS Strategic Advisor Account Profile, which helps you define long-term goals and build an investment portfolio around them.
• A goal-based investment plan where you and your Financial Advisor must first make an assessment of your overall financial situation. In order to gather this information, your Financial Advisor will conduct an interview with you, using profiling, analytical, proposal-building and tracking tools. The result is an analysis of your financial position that will help you and your Financial Advisor understand your current objectives and how they affect your investment decisions.
• Periodic meetings, including an Annual Strategy Review, to evaluate your investment plan, objectives, progress and performance.
• Quarterly Portfolio Reviews to keep you informed of the performance of your portfolio on a regular basis.

Strategic Advisor is an advisory program in which the ongoing advice of the Financial Advisor is one of the key components and services provided. The program is intended for long-term investors who (i) seek to establish strategic investment goals and follow an asset allocation strategy; (ii) seek and value the ongoing advice of a professional financial advisor, but retain discretion over the trading activity in their account; (iii) are looking to implement a medium-to-long-term investment plan and avail themselves of program features; and (iv) prefer the consistency of fee-based pricing.

Product mix is another consideration you should take into account. For example, while mutual funds in the programs are traded at net asset value (NAV) with no sales load charged, clients who would qualify for breakpoint discounts in a commission-based account invested within a single mutual fund firm and who do not use any of the services available in the program may find that purchasing those funds in a commission-based account to be a more cost-efficient option. The program is not appropriate for clients who maintain consistently high levels of cash or money market funds.