Past performance is not indicative of future results. All investments have the potential for loss as well as gain. Naylor & Company invests a significant portion of client accounts in the stocks of small and medium-size companies. As a result, portfolio values may be more volatile than the market as a whole. There is also a risk that the broader market may not realize the value of these companies, especially over the short-term, which could lead to losses greater than those of the overall market.