Our Expertise. Your Investment Process.

PORTFOLIO CONSTRUCTION SOLUTIONS

Our Expertise. Your Investment Process.

PORTFOLIO CONSTRUCTION SOLUTIONS

ART OF CLEAN UPSM

ASSET ALLOCATION MODEL REVIEW

PORTFOLIO CONSTRUCTION INSIGHTS

MODEL CONSTRUCTION

INFORM

ADJUST

BUILD

CONSOLIDATE

In an industry where change is the only constant, we’re here to help you prepare for what lies ahead.

Built on the same foundation that supports our world-class asset allocation capabilities, Portfolio Construction Solutions from T. Rowe Price is an integrated suite of services designed to enhance investment outcomes and position your practice for success.

No matter where you are on your portfolio construction journey, we can help. Working in partnership with your dedicated Investment Consultant, our Portfolio Construction Specialists will help guide you to solutions that maximize your opportunities for success.

Multi-Asset ExpertiseT. Rowe Price’s Multi-Asset Division integrates the core strengths of our firm’s strategic investing approach into multi-asset solutions designed to enhance investment results,

manage risk appropriately, and consistently meet your client needs.

Portfolio Construction SupportOur Portfolio Construction Solutions are supported by a team of dedicated investment

specialists who apply their knowledge of our multi-asset strategies and tactics to address the needs of our partners in a competitive financial professional marketplace.

All data as of December 31, 2019, unless otherwise stated.* 36 of our 40 Retirement Funds (Investor, Advisor, and R Class) had a 10-year track record as of 6/30/20 (includes all share classes). 35 of these 36 funds beat

their Lipper average for the 10-year period. 27 of 40, 36 of 40, and 37 of 39 of the Retirement Funds outperformed their Lipper average for the 1-, 3-, and 5-year periods ended 6/30/20, respectively. Calculations are based on cumulative total return. Not all funds outperformed for all periods. (Source for data: Lipper Inc.)

The principal value of the Retirement Funds is not guaranteed at any time, including at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65) and likely stop making new investments in the fund. If an investor plans to retire significantly earlier or later than age 65, the funds may not be an appropriate investment even if the investor is retiring on or near the target date. The funds’ allocations among a broad range of underlying T. Rowe Price stock and bond funds will (with the exception of the Retirement Balanced Fund) change over time. The funds (other than the Retirement Balanced Fund) emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus on supporting an income stream over a long-term postretirement withdrawal horizon. The funds are not designed for a lump-sum redemption at the target date and do not guarantee a particular level of income. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility over shorter time horizons.Firmwide multi-asset portfolio assets under management include assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates. This figure includes assets that are held outside of T. Rowe Price but where T. Rowe Price influences trade decisions.

25+

70+

$300+B

95%

years offering multi-asset solutions

dedicated multi-asset investment professionals

managed in multi-asset strategies

21+ 4,000+years of industry experience averaged by

our Portfolio Construction Specialistsseparate analyses conducted

for financial professionals

of our Retirement Funds with 10 years of performance beat their

10-year Lipper averages*

Adjust

Asset Allocation Model Review

Challenge:

“ I need objective help identifying unintended risks that could impact investment outcomes and client satisfaction.”

Solution:

Portfolio Construction Specialists conduct a comprehensive analytical review and offer solutions to align your portfolios and your investment goals.

Receive a one-on-one consultation with a Portfolio Construction Specialist to help align your asset allocation with your portfolios’ risk profiles and return objectives

Use our strategic multi-asset design principles to help assess your own portfolio design, with custom reports containing concise summaries and actionable insights

Stress-test your portfolios against different market scenarios and select from a variety of benchmarks to enhance your evaluation process

Access balanced, professional guidance on allocation adjustments intended to address risks, enhance consistency, and improve investment outcomes

Consolidate

Art of Clean UpSM

Challenge:

“ I have too many investment strategies and not enough time to assess them effectively.”

Solution:

An impartial analysis helps streamline your book of business, consolidate portfolios, and focus on improving investment outcomes for your clients.

Evaluate your investment strategies across nine key metrics that measure performance, risk, and efficiency

Identify investment managers who work best for your practice and inform client conversations about their portfolios

Isolate strategies to be considered for review, replacement, or consolidation

Streamline your investment managers after complex business transitions, including brokerage to advisory, team combinations, and succession planning

THE SUITE

troweprice.com/portfolioconstruction

Inform

Portfolio Construction Insights

Challenge:

“ I need actionable insights into markets and portfolio design to inform my investment decisions and client conversations.”

Solution:

Our Multi-Asset Division’s strategic portfolio design principles inform your investment decisions, while our Portfolio Construction Specialists offer practical implementation ideas.

Get objective analyses and expert insights to help you effectively assess market conditions and investment trends

Access professionally designed, client- ready support materials in a variety of formats and frequencies

Learn about our strategic portfolio design, tactical asset allocation, and practical implementation ideas

Draw on knowledge gained from our regular financial professional engagements to better understand your peers’ behavior

Build

Model Construction

Challenge:

“ I need scalable and effective asset allocation models so that I can focus more on my clients and my practice.”

Solution:

Illustrative portfolios designed by our multi-asset investment professionals help you build portfolios aligned to client needs.

Create a proprietary suite of model portfolios based on your preferences for asset allocation and manager selection

Gain the flexibility to start building from your own models, home office models, or our strategic allocation portfolios

Access our team of Portfolio Construction Specialists for objective one-on-one consultations

Improve client satisfaction through the ongoing support and resources of our dedicated professionals

Consider the investment objectives, risks, and charges and expenses carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, call (800) 564-6958 or visit troweprice.com/prospectus. Read it carefully.This material is provided for informational purposes only and is not intended to be investment advice or a recommendation to take any particular investment action. This information is not intended to reflect a current or past recommendation concerning investments, investment strategies, or account types, advice of any kind, or a solicitation of an offer to buy or sell any securities or investment services. The opinions and commentary provided do not take into account the investment objectives or financial situation of any particular investor or class of investor. Please consider your own circumstances before making an investment decision.

Portfolio Construction Solutions discussed are available only to financial professionals and not the retail public.

T. ROWE PRICE, INVEST WITH CONFIDENCE, and the bighorn sheep design are trademarks of T. Rowe Price Group, Inc. The trademarks shown are the property of the respective owners. T. Rowe Price is not endorsed, sponsored, or otherwise affiliated with any of the trademark owners represented by the trademarks shown in this material. © 2020 T. Rowe Price. All rights reserved.

T. Rowe Price mutual funds are distributed by T. Rowe Price Investment Services, Inc. Investment advisory services are provided by T. Rowe Price Associates, Inc.

• Not A Deposit • Not FDIC-Insured • Not Insured By Any Federal Government Agency • Not Guaranteed By Any Bank Or Credit Union • May Go Down In Value

Take the next step. Contact your Investment Consultant.

Whether you’re ready to put the power of our Portfolio Construction Solutions to work for you and your clients, or you simply have questions about our full suite of multi-asset solutions, we’re here to help.

Your T. Rowe Price Investment Consultant is ready to answer questions and guide you toward solutions that maximize the opportunities for success for you and your clients.

PHONE1-800-564-6958

EMAILAdvisorServices@troweprice.com

troweprice.com/portfolioconstruction

CCON0054129 7/20202007-1269492