Cassaday & Company, Inc.

Disclaimer
Investment Advisory Services Offered Through Cassaday & Company, Inc. Securities and Investment Advisory Services Offered Through Royal Alliance Associates, Inc. A registered broker-dealer and member FINRA/SIPC and Registered Investment Adviser

This communication is strictly intended for individuals residing in the states of Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Massachusetts, Maryland, Michigan, Minnesota, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia and Wyoming. No offers may be made or accepted from any resident outside the specific state(s) referenced.

IMPORTANT CONSUMER INFORMATION:
A broker-dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered, or is excluded or exempt from state broker-dealer, investment adviser, BD agent, or IA rep registration requirements, as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either affecting or attempting to affect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made without first complying with appropriate registration requirements, or an applicable exemption or exclusion.

For information concerning the licensing status or disciplinary history of a broker-dealer, investment adviser, BD agent, or IA rep, a consumer should contact his or her state securities law administrator.

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Copyright 2007 Cassaday & Company \| 8180 Greensboro Dr. Suite 1180 \| McLean, VA 22102 \| Phone (800) 672-2102 or (703) 506-8200 \| Fax (703) 506-8208 States Registered To Transact Securities Business

	Securites and advisory services offered through Royal Alliance Associates, Inc. Member FINRA & SIPC. Advisory services offered through Cassaday & Company, Inc. A Registered Investment Advisor.