Taxes

• Income Tax
  Preferred shareholders usually have no right to vote for corporate directors or on other matters. Shares of traditional preferred securities have a liquidation preference that generally equals the original purchase price at the date of issuance. The market value of preferred securities may be affected by, among other factors, favorable and unfavorable changes impacting companies in the utilities and financial services sectors, which are prominent issuers of preferred securities, and by actual and anticipated changes in tax laws, such as changes in corporate income tax rates. Because the claim on an issuer’s earnings represented by traditional preferred securities may become onerous when interest rates fall below the rate payable on such securities, the issuer may redeem the securities.

Investment

• Investment Management
  This website is for informational purposes only. This website does not constitute an offering or recommendation by Flaherty & Crumrine Incorporated or any of its affiliates of any security, investment management service, or advisory service in any jurisdiction in which such offering or recommendation would be unlawful under the securities laws of such jurisdiction. We do not provide investment advice, tax advice, or legal advice through this website, and you agree that such areas will not be used by you for such purposes. We do not represent that the securities, products, or services discussed on, or accessible through, this website are suitable for any particular investor. You acknowledge that the provision of any information through this website shall not constitute or be considered investment advice, or an offer to sell, or a solicitation of an offer to buy any security.
• Mutual Funds
  We’re investment advisers. We manage closed-end funds, a mutual fund and actively-managed ETFs comprised of preferred, contingent capital and other income securities. We also offer customized investment advisory services to institutional investors — including taxable investors seeking benefits from the dividends received deduction.
• Bonds

Planning

• Asset Management