Risk Disclosure

This Risk Disclosure ("Disclosure") is provided by Wennig Wealth to inform you of the material risks associated with opening a brokerage account and engaging in securities transactions through Alpaca Securities LLC ("Alpaca"). By accepting this Disclosure, you acknowledge that you have read and understood the risks described below. This Disclosure does not purport to be a complete enumeration of all risks; you should carefully consider whether investing is suitable for your financial circumstances.

1. Risk of Loss

All investments in securities involve a risk of loss, including the total loss of your invested capital. The value of securities may fluctuate due to market conditions, and you may lose some or all of your investment. Past performance is not indicative of future results. No representation or guarantee is made that any investment strategy will achieve its objectives.

2. Market Risk

Securities markets are subject to volatility caused by economic, political, and global events. Market prices may decline rapidly and without warning. You may experience losses that exceed the amount initially invested if you use margin or leverage. During periods of extreme market stress, liquidity may be reduced, making it difficult or impossible to execute trades at desired prices.

3. Individual Stock Risk

Individual stocks carry company-specific risks, including but not limited to earnings shortfalls, management changes, regulatory actions, litigation, and competitive pressures. A single stock may decline in value even when the broader market rises. Diversification does not eliminate the risk of loss.

4. Margin and Leverage Risk

If your brokerage account is approved for margin trading, you may borrow funds from Alpaca to purchase securities. Margin trading amplifies both gains and losses. If the value of your collateral falls below required maintenance levels, Alpaca may issue a margin call and liquidate your positions without prior notice. You may lose more than your initial investment and remain liable for any resulting deficit.

5. Automated Trading Risk

Wennig Wealth offers automated and semi-automated trading features ("Automated Trading"). Automated Trading executes trades based on parameters you configure and is subject to system failures, data feed errors, latency, and market gaps. Automated Trading does not guarantee profits and may result in substantial losses. You are responsible for monitoring your Automated Trading settings and are strongly encouraged to set maximum daily drawdown limits. Wennig Wealth and Alpaca disclaim all liability for losses arising from Automated Trading.

6. Fractional Shares Risk

The Platform supports fractional share trading. Fractional shares are not transferable to other broker-dealers and may have limited liquidity. If Alpaca ceases to support fractional share trading, your positions may be liquidated at prevailing market prices.

7. Limit and Stop Order Risk

Limit orders are not guaranteed to execute if the market price does not reach the specified price. Stop orders become market orders when the stop price is reached and may execute at prices significantly different from the stop price during fast-market conditions. Trailing stop orders may trigger prematurely in volatile markets.

8. Settlement Risk

Securities transactions typically settle on a T+1 basis (one business day after trade date). Funds from recent deposits or sales may not be immediately available for withdrawal. Unsettled proceeds may be subject to good-faith violations if used for new purchases before settlement.

9. SIPC Coverage

Your brokerage account at Alpaca is protected by the Securities Investor Protection Corporation ("SIPC") up to $500,000 (including up to $250,000 for cash). SIPC protection applies only in the event of the failure of Alpaca and does not protect against investment losses resulting from market declines. Additional excess SIPC coverage may apply.

10. No Investment Advice

Wennig Wealth does not provide personalized investment advice or recommendations. The Platform's analytics, AI-generated insights, and educational content are for informational purposes only and do not constitute a solicitation, offer, or recommendation to buy, sell, or hold any security. You should consult a qualified financial advisor before making investment decisions.

11. Acknowledgment

By accepting this Risk Disclosure, you confirm that you have read, understood, and accepted the risks described above, and that you are investing funds you can afford to lose without impairment of your standard of living.