As a fiduciary, BHMS is required to act in each client’s best interests and to care for the clients’ assets in such a manner as to benefit the client. Violations of the Firm’s fiduciary duty could damage the reputation of the Firm and could also harm its clients, and subject the organization and its employees to legal liability and regulatory penalties. Compliance with this duty can be achieved by trying to avoid conflicts of interest and by fully disclosing all material facts concerning any conflict that does arise with respect to any client. The Firm’s policy is to consider any conflict or potential conflict of interest when conducting business. Conflicts may arise both inside and outside BHMS, therefore the Firm examines, reviews and addresses these conflicts and competing interests formally through our internal controls and procedures, and on an ongoing basis in our advisory business.