Investment Policy Statement | White Aspen Capital

White Aspen Capital
Investment Policy Statement

Date of last update: 08 / 02 / 2026

01 — Personal information

Household information

Client’s Name Client’s Birthdate Spouse's Name Spouse’s Birthdate

02 — Income & net worth

Financial snapshot

Current Annual Household Income Value of Primary Residence Value of Other Illiquid Assets Liquid Net Worth (Excl. Primary Residence, Etc.) Current Annual Income Needs from Investments Client Desired Retirement Age Spouse Desired Retirement Age Current Annual Expenses

03 — Risk tolerance & investment objectives

Time horizon

Points are calculated automatically from questions 1 and 2.

1. I plan to begin withdrawing my money from my investments in:

Less than 3 years[1] 3-5 years[3] 6-10 years[7] 11 years or more[10]

2. Once I begin withdrawing funds from my investments, I plan to spend all of the funds in:

Less than 2 years[0] 2-5 years[1] 6-10 years[4] 11 years or more[8]

Enter the total points from questions 1 and 2. Time Horizon Score:0

04 — Risk tolerance

Investment experience & risk

Points are calculated automatically from questions 3 through 7.

3. I would describe my knowledge of investments as:

None[0] Limited[2] Good[4] Extensive[6]

4. What amount of financial risk are you willing to take when you invest?

Take lower than average risks expecting to earn lower than average returns[0] Take average risks expecting to earn average returns[4] Take above average risks expecting to earn above average returns[8]

5. Select the investments you currently own or have owned:

Money market fund or cash investments[0] Bonds and/or bond funds[3] Stocks and/or stock funds[6] International securities and/or international funds[8]

6. Consider this scenario:

Imagine that in the past three months, the overall stock market lost 25% of its value. An individual stock investment you own also lost 25% of its value. What would you do?

Sell all of my shares[0] Sell some of my shares[2] Do nothing[5] Buy more shares[8]

7. Review the chart below:

We’ve outlined the most likely best-case and worst-case annual returns of five hypothetical investment plans. Which range of possible outcomes is most acceptable to you*?

Plan	Average annual return	Best-case	Worst-case
A	7.1%	22.8%	-9.5%
B	8.3%	27.0%	-13.3%
C	9.2%	30.9%	-20.9%
D	9.8%	34.4%	-29.5%
E	10.2%	39.9%	-36.0%

*The figures are hypothetical and do not represent the performance of any particular investment.

Plan A[0] Plan B[3] Plan C[6] Plan D[8] Plan E[10]

Enter the total points from questions 3 through 7. Risk Tolerance Score:0

05 — Your investor profile

Determine your investor profile

Use your Time Horizon Score and Risk Tolerance Score with the matrix below.

Determine Your Investor Profile

The chart below uses the subtotals calculated in the preceding two sections. Find your Time Horizon Score along the left side and your Risk Tolerance Score across the top. Locate their intersection point, situated in the area that corresponds to your Investor Profile.

06 — Restrictions on the account(s)

Account restrictions

Restrictions on the Account(s)

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