Investments are not insured by the FDIC and are not guaranteed by BOKF, NA or any of its affiliates. All investments involve risk, including loss of principal. Past performance does not guarantee future results. There is no assurance that the investment process will consistently lead to successful investing. Asset allocation and diversification do not eliminate the risk of experiencing investment losses. Risks applicable to any portfolio are those associated with its underlying securities. NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE