This just was emailed out and we regret sending it. Please see the first bullet point. It is misleading because it sounds like any account holding stocks and bonds are taxable.

Make Your Investments Tax-Intelligent

With Optimal Asset Location

Different types of investments can receive different tax treatments. By using a combination of tax-deferred

and taxable accounts and by actively managing those accounts’ capital gains and losses, it’s possible to

optimize your taxable income and minimize the taxes you must pay.

• Taxable accounts, such as stocks, bonds, and other property allow you to deposit funds, buy and sell investments, and pay taxes now rather than when the investment is distributed.