BBVA Global Wealth Advisors, Inc. (“GWA”) is an SEC- registered investment adviser and a non-bank wholly owned subsidiary of Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA S.A.”), a publicly held global financial services institution and holding company, which owns other financial institutions throughout the world (BBVA S.A.’s affiliates, collectively, the “BBVA Group”). GWA does not provide banking or brokerage services to its clients, and GWA’s advisory services are separate and distinct from the banking, brokerage and other financial services that can be obtained through other entities in the BBVA Group. Persons engaging the services of GWA’s affiliates should be aware each BBVA Group company is operated separately. Engaging the services of one affiliate of the BBVA Group does not entitle a client to the products or services of another affiliate, many of which are subject to different regulatory regimes, including, in some cases, the laws of other countries. Further, the protections afforded when doing business with one BBVA Group entity may not necessarily exist when doing business with another affiliated entity.
