<p><span>Form CRS is a brief relationship summary designed to help retail investors make informed choices regarding what type of relationship—brokerage, investment advisory, or a combination of both—best suits a retail investor’s particular circumstances and investment objectives. SEC-registered broker-dealers and investment advisers (each, a “firm”) offering services to retail investors must file with the Commission and provide to retail investors a relationship summary containing plain English disclosures on specific topics under standardized headings and in a prescribed order. The relationship summary is intended to promote transparency, comparability and better-informed decision-making, through clear, concise disclosures, and by summarizing in one place selected information about a particular firm. This format is designed to allow retail investors to more easily compare different firms’ services, fees, conflicts of interest, disciplinary history and other important information.</span></p>