1933 ACT FILE NO.: 333-186288
1940 ACT FILE NO.: 811-21056
CIK NO.: 1559206

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

AMENDMENT NO. 1
TO
FORM S-6

FOR REGISTRATION UNDER THE SECURITIES ACT
OF 1933 OF SECURITIES OF UNIT INVESTMENT
TRUSTS REGISTERED ON FORM N-8B-2

A. Exact name of trust: ADVISORS DISCIPLINED TRUST 1006

B. Name of depositor: ADVISORS ASSET MANAGEMENT, INC.

C. Complete address of depositor's principal executive offices:

18925 Base Camp Road
Monument, Colorado 80132

D. Name and complete address of agent for service:

WITH A COPY TO:

Scott Colyer Scott R. Anderson
ADVISORS ASSET MANAGEMENT, INC. CHAPMAN AND CUTLER LLP
18925 Base Camp Road 111 West Monroe Street
Monument, Colorado 80132 Chicago, Illinois 60603-4080

E. Title of securities being registered: Units of undivided beneficial
interest in the trust

F. Approximate date of proposed public offering:

AS SOON AS PRACTICABLE AFTER THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT

[ ] Check box if it is proposed that this filing will become effective
on ____________, 2012 at _____ pursuant to Rule 487.

-------------------------------------------------------------------------------

STRATEGIC HIGH 50(R)/Q-50 DIVIDEND AND GROWTH PORTFOLIO, SERIES 2013-2Q

(ADVISORS DISCIPLINED TRUST 1006)

A diversified portfolio of
equity securities seeking
above average income and
potential for growth

PROSPECTUS

APRIL 5, 2013

[LOGO] As with any investment, the Securities
and Exchange Commission has not approved
AAM or disapproved of these securities or
passed upon the adequacy or accuracy of
ADVISORS this prospectus. Any contrary
ASSET MANAGEMENT representation is a criminal offense.

------------------
INVESTMENT SUMMARY
------------------

INVESTMENT OBJECTIVE

The trust seeks to provide above average income and potential for growth.
There is no assurance the trust will achieve its objective.

PRINCIPAL INVESTMENT STRATEGY

The trust invests in a diversified portfolio consisting of two equally-
weighted components:

* High 50(R) Dividend Strategy--a specialized dividend-oriented strategy
that seeks to provide above average total return selected as of
March 28, 2013.

* NASDAQ Q-50 Index(SM) Strategy--a strategy that selects the securities
included in the NASDAQ Q-50 Index(SM) as of April 3, 2013. The NASDAQ
Q-50 Index(SM) is designed to track the performance of securities that are
next eligible for inclusion in the NASDAQ 100 Index(R).

The strategies are described in greater detail under "Understanding Your
Investment--Security Selection." We<F1>* selected these components in an effort
to provide an enhanced total return while reducing overall portfolio volatility
through diversification of securities and investment strategies. The trust
invests in each component in approximately equal weightings with the stocks
within each components in approximately equal weightings as of the trust's
inception and the weightings will vary thereafter in accordance with
fluctuations in stock prices.

Certain securities are selected for inclusion in both components. When a
security is selected by both components, the portfolio's weighting of such
security at inception will be approximately double what it would have been had
the security only been selected by only one component.

Please note that we applied the strategy to select the portfolio at a
particular time. If we create additional units of the trust after the trust's
inception date, the trust will purchase the securities originally selected by
applying the strategy. This is true even if a later application of the strategy
would have resulted in the selection of different securities. We currently
offer separate unit investment trusts that invest according to the same or
similar investment strategies. The components, portfolio securities and
structure of the trust offered in this prospectus may differ in certain respects
from those other trusts we may be offering that use similar investment
strategies.

PRINCIPAL RISKS

As with all investments, you can lose money by investing in this trust. The
trust also might not perform as well as you expect. This can happen for reasons
such as these:

* STOCK PRICES WILL FLUCTUATE. The value of your investment may fall over
time.

* AN ISSUER MAY BE UNWILLING OR UNABLE TO DECLARE DIVIDENDS IN THE FUTURE, OR
MAY REDUCE THE LEVEL OF DIVIDENDS DECLARED. This may result in a reduction
in the value of your units.

* THE TRUST INVESTS SIGNIFICANTLY IN STOCKS OF SMALL AND MID-SIZE COMPANIES.
These stocks are often more volatile and have lower trading volumes than
stocks of larger companies. Small and mid-size companies may have limited
products or financial resources, management inexperience and less publicly
available information.

* THE FINANCIAL CONDITION OF AN ISSUER MAY WORSEN OR ITS CREDIT RATINGS MAY
DROP, RESULTING IN A REDUCTION IN THE VALUE OF YOUR UNITS. This may occur
at any point in time, including during the initial offering period.

* THE TRUST'S PERFORMANCE MIGHT NOT SUFFICIENTLY CORRESPOND TO PUBLISHED
HYPOTHETICAL PERFORMANCE OF THE TRUST'S STRATEGY. This can happen for
reasons such as an inability to exactly replicate the weightings of stocks
in the strategy or be fully invested, timing of the trust offering or
timing of your investment, and trust expenses.

* WE DO NOT ACTIVELY MANAGE THE PORTFOLIO. Except in limited circumstances,
the trust will hold, and continue to buy, shares of the same securities
even if their market value declines.

--------------------
<F1>* "AAM," "we" and related terms mean Advisors Asset Management, Inc., the
trust sponsor, unless the context clearly suggests otherwise.

2 Investment Summary

WHO SHOULD INVEST

You should consider this investment if you want:

* to own a defined portfolio of securities selected based on two distinct
investment strategies.

* to pursue a long-term investment strategy that includes investment in
subsequent portfolios, if available.

* the potential to receive above average income and potential for growth.

You should not consider this investment if you:

* are uncomfortable with the risks of an unmanaged investment in the
securities held by the trust.

* are uncomfortable with the trust's strategies.

* seek aggressive growth without current income.

* seek capital preservation.

------------------------------------------------------------

ESSENTIAL INFORMATION
---------------------

UNIT PRICE AT INCEPTION $10.0000

INCEPTION DATE April 5, 2013
TERMINATION DATE July 10, 2014

ESTIMATED NET ANNUAL
DISTRIBUTIONS* $0.2546 per unit

DISTRIBUTION DATES 25th day of each month
RECORD DATES 10th day of each month

CUSIP NUMBERS
Standard Accounts
Cash distributions 00771G481
Reinvest distributions 00771G499
Fee Based Accounts
Cash distributions 00771G507
Reinvest distributions 00771G515

TICKER SYMBOL HFQFAX

MINIMUM INVESTMENT $1,000/100 units

------------------------------------------------------------

<FN>

* As of April 4, 2013 and may vary thereafter.

</FN>

FEES AND EXPENSES

The amounts below are estimates of the direct and indirect expenses that you
may incur based on a $10 unit price. Actual expenses may vary.

AS A % AMOUNT
OF $1,000 PER 100
SALES FEE INVESTED UNITS
------------------------

Initial sales fee 1.00% $10.00
Deferred sales fee 1.45 14.50
Creation & development fee 0.50 5.00
------- -------
Maximum sales fee 2.95% $29.50
======= =======

ORGANIZATION COSTS 0.50% $5.00
======= =======

AS A % AMOUNT
ANNUAL OF NET PER 100
OPERATING EXPENSES ASSETS UNITS
------------------------

Trustee fee & expenses 0.25% $2.38
Supervisory, evaluation
and administration fees 0.10 1.00
------- -------
Total 0.35% $3.38
======= =======

The initial sales fee is the difference between the total sales fee (maximum
of 2.95% of the unit offering price) and the sum of the remaining deferred sales
fee and the total creation and development fee. The deferred sales fee is fixed
at $0.145 per unit and is paid in three monthly installments beginning on
July 20, 2013. The creation and development fee is fixed at $0.05 per
unit and is paid at the end of the initial offering period (anticipated to be
three months).

EXAMPLE

This example helps you compare the cost of this trust with other unit trusts
and mutual funds. In the example we assume that the expenses do not change and
that the trust's annual return is 5%. Your actual returns and expenses will
vary. Based on these assumptions, you would pay these expenses for every
$10,000 you invest in the trust:

1 year $381
3 years $962
5 years $1,569
10 years $3,207

This example assumes that you continue to follow the trust strategy and roll
your investment, including all distributions, into a new series of the trust
each year subject to a reduced rollover sales charge of 1.95%.

Investment Summary 3

STRATEGIC HIGH 50(R)/Q-50 DIVIDEND AND GROWTH PORTFOLIO, SERIES 2013-2Q
(ADVISORS DISCIPLINED TRUST 1006)
PORTFOLIO
AS OF THE TRUST INCEPTION DATE, APRIL 5, 2013

PERCENTAGE OF
NUMBER AGGREGATE MARKET COST OF
OF TICKER OFFERING VALUE PER SECURITIES
SHARES SYMBOL ISSUER(1) PRICE SHARE(1) TO TRUST(2)
----------------------------------------------------------------------------------------------------------------------

COMMON STOCKS -- 100.00%

CONSUMER DISCRETIONARY - 17.91%

31 BKE The Buckle Inc. 0.99% $47.58 $1,475
14 CHTR Charter Communications Inc. (4) 0.98 104.55 1,464
40 DISH DISH Network Corporation (4) 0.99 36.99 1,480
23 DSW DSW Inc. 1.01 65.20 1,500
34 HAS Hasbro Inc. 0.99 43.46 1,478
32 LTD L Brands Inc. 0.98 45.79 1,465
70 LKQ LKQ Corporation (4) 1.00 21.26 1,488
23 LULU Lululemon Athletica Inc. (4) 1.01 65.66 1,510
9 NFLX Netflix Inc. (4) 1.01 166.69 1,500
8 PNRA Panera Bread Company (4) 0.95 175.78 1,406
24 PETM PetSmart Inc. 1.01 62.78 1,507
90 RGC Regal Entertainment Group 1.00 16.56 1,490
36 TSLA Tesla Motors Inc. (4) 1.02 42.01 1,512
14 TSCO Tractor Supply Company 0.97 103.58 1,450
30 TRIP TripAdvisor Inc. (4) 1.00 49.52 1,486
18 ULTA Ulta Salon Cosmetics & Fragrance Inc. (4) 1.03 84.74 1,525
38 URBN Urban Outfitters Inc. (4) 1.01 39.52 1,502
12 WYNN Wynn Resorts Limited 0.96 118.80 1,426

CONSUMER STAPLES - 6.00%

42 MO Altria Group Inc. 0.99 35.16 1,477
51 BGS B&G Foods Inc. 1.00 29.17 1,488
27 GMCR Green Mountain Coffee Roasters Inc. (4) 1.00 54.97 1,484
16 PM Philip Morris International Inc. 1.02 94.53 1,512
33 RAI Reynolds American Inc. 0.99 44.76 1,477
93 VGR Vector Group Limited 1.00 16.05 1,493

ENERGY - 5.02%

25 COP ConocoPhillips 0.99 58.88 1,472
22 DO Diamond Offshore Drilling Inc. 1.02 68.84 1,514
31 HFC HollyFrontier Corporation 1.01 48.25 1,496
49 SE Spectra Energy Corporation 0.99 30.17 1,478
116 WTI W&T Offshore Inc. 1.01 12.90 1,496

(Continued)

4 Investment Summary

STRATEGIC HIGH 50(R)/Q-50 DIVIDEND AND GROWTH PORTFOLIO, SERIES 2013-2Q
(ADVISORS DISCIPLINED TRUST 1006)
PORTFOLIO (CONTINUED)
AS OF THE TRUST INCEPTION DATE, APRIL 5, 2013

FINANCIALS - 5.03%

46 AGNC American Capital Agency Corporation 1.01% $32.65 $1,502
94 NLY Annaly Capital Management Inc. 1.01 15.91 1,495
232 ARR ARMOUR Residential REIT Inc. 1.00 6.44 1,494
127 CYS CYS Investments Inc. 1.01 11.78 1,496
124 TWO Two Harbors Investment Corporation 1.00 12.01 1,489

HEALTH CARE - 13.02%

24 BMRN BioMarin Pharmaceutical Inc. (4) 0.98 60.90 1,462
36 BMY Bristol-Myers Squibb Company 0.99 40.78 1,468
26 LLY Eli Lilly & Company 0.99 56.93 1,480
68 HOLX Hologic Inc. (4) 1.01 22.04 1,499
17 IDXX IDEXX Laboratories Inc. (4) 1.03 89.63 1,524
27 ILMN Illumina Inc. (4) 1.00 54.93 1,483
31 MDVN Medivation Inc. (4) 1.02 48.77 1,512
33 MRK Merck & Company Inc. 1.01 45.32 1,496
17 ONXX Onyx Pharmaceuticals Inc. (4) 0.99 86.61 1,472
40 PDCO Patterson Companies Inc. 1.00 37.22 1,489
203 PDLI PDL BioPharma Inc. 1.00 7.32 1,486
71 QGEN QIAGEN NV (3) (4) 1.00 20.84 1,480
80 QSII Quality Systems Inc. 1.00 18.60 1,488

INDUSTRIALS - 12.04%

26 BEAV B/E Aerospace Inc. (4) 1.01 57.63 1,498
34 CTAS Cintas Corporation 1.01 44.06 1,498
45 CPRT Copart Inc. (4) 1.01 33.40 1,503
21 JBHT JB Hunt Transport Services Inc. 1.02 72.46 1,522
28 LECO Lincoln Electric Holdings Inc. 0.99 52.33 1,465
16 LMT Lockheed Martin Corporation 1.03 95.40 1,526
23 NDSN Nordson Corporation 1.00 64.81 1,491
102 PBI Pitney Bowes Inc. 0.99 14.48 1,477
127 RRD RR Donnelley & Sons Company 1.00 11.71 1,487
35 RYAAY Ryanair Holdings PLC (3) (4) 0.99 41.85 1,465
34 TAL TAL International Group Inc. 0.99 43.21 1,469
64 WERN Werner Enterprises Inc. 1.00 23.21 1,485

(Continued)

Investment Summary 5

STRATEGIC HIGH 50(R)/Q-50 DIVIDEND AND GROWTH PORTFOLIO, SERIES 2013-2Q
(ADVISORS DISCIPLINED TRUST 1006)
PORTFOLIO (CONTINUED)
AS OF THE TRUST INCEPTION DATE, APRIL 5, 2013

INFORMATION TECHNOLOGY - 22.05%

19 ANSS ANSYS Inc. (4) 0.99% $77.33 $1,469
37 ARMH ARM Holdings PLC (3) 1.00 40.37 1,494
23 ASML ASML Holding NV (3) 1.02 66.08 1,520
111 CDNS Cadence Design Systems Inc. (4) 1.00 13.42 1,490
30 CREE Cree Inc. (4) 1.03 50.81 1,524
138 CY Cypress Semiconductor Corporation 1.00 10.82 1,493
86 EA Electronic Arts Inc. (4) 1.00 17.26 1,484
221 FLEX Flextronics International Limited (3)(4) 1.00 6.72 1,485
45 INFA Informatica Corporation (4) 1.01 33.23 1,495
70 INTC Intel Corporation 1.00 21.14 1,480
184 ISIL Intersil Corporation 1.00 8.06 1,483
36 LRCX Lam Research Corporation (4) 1.00 41.23 1,484
56 LXK Lexmark International Inc. 1.00 26.56 1,487
143 MRVL Marvell Technology Group Limited (3) 1.00 10.38 1,484
53 NXPI NXP Semiconductor NV (3)(4) 1.01 28.20 1,495
42 PAYX Paychex Inc. 1.01 35.61 1,496
99 BBRY Research In Motion Limited (3)(4) 1.00 14.99 1,484
71 SWKS Skyworks Solutions Inc. (4) 1.00 21.01 1,492
42 SNPS Synopsys Inc. (4) 0.99 35.14 1,476
51 TRMB Trimble Navigation Limited (4) 0.99 29.00 1,479
32 VRSN VeriSign Inc. (4) 1.00 46.64 1,492
65 YNDX Yandex NV (3)(4) 1.00 22.84 1,485

MATERIALS - 5.98%

47 DOW The Dow Chemical Company 0.99 31.43 1,477
30 DD E.I. du Pont de Nemours & Company 0.99 49.04 1,471
47 FCX Freeport-McMoRan Copper & Gold Inc. 1.00 31.70 1,490
98 KRO Kronos Worldwide Inc. 1.00 15.23 1,493
38 NEM Newmont Mining Corporation 1.00 39.12 1,487
22 RGLD Royal Gold Inc. 1.00 67.35 1,482

(Continued)

6 Investment Summary

STRATEGIC HIGH 50(R)/Q-50 DIVIDEND AND GROWTH PORTFOLIO, SERIES 2013-2Q
(ADVISORS DISCIPLINED TRUST 1006)
PORTFOLIO (CONTINUED)
AS OF THE TRUST INCEPTION DATE, APRIL 5, 2013

TELECOMMUNICATION SERVICES - 7.96%

39 T AT&T Inc. 0.99% $37.91 $1,478
41 CTL CenturyLink Inc. 0.99 36.02 1,477
726 FTR Frontier Communications Corporation 2.00 4.11 2,984
57 TWTC tw telecom Inc. (4) 0.99 25.82 1,472
30 VZ Verizon Communications Inc. 0.99 49.30 1,479
362 WIN Windstream Corporation 2.00 8.22 2,976

UTILITIES - 4.99%

22 ETR Entergy Corporation 0.98 66.52 1,463
43 EXC Exelon Corporation 1.00 34.72 1,493
35 FE FirstEnergy Corporation 1.01 43.03 1,506
69 POM Pepco Holdings Inc. 1.00 21.55 1,487
82 TE TECO Energy Inc. 1.00 18.05 1,480

--------- ----------
100.00% $148,718
========= ==========

<FN>
Notes to Portfolio

(1) Securities are represented by contracts to purchase securities. The value
of each security is based on the most recent closing sale price of each
security as of the close of regular trading on the New York Stock Exchange
on the business day prior to the trust's inception date. In accordance
with Accounting Standards Codification 820, "Fair Value Measurements", the
trust's investments are classified as Level 1, which refers to security
prices determined using quoted prices in active markets for identical
securities.

(2) The cost of the securities to the sponsor and the sponsor's profit or
(loss) (which is the difference between the cost of the securities to the
sponsor and the cost of the securities to the trust) are $148,718 and $0,
respectively.

(3) This is a security issued by a foreign company that trades on a U.S.
securities exchange.

Common stocks comprise approximately 100.00% of the investments in the
trust, broken down by country of organization as set forth below:

Bermuda 1.00% Canada 1.00% Ireland 0.99%
Netherlands 4.03% Singapore 1.00% United Kingdom 1.00%
United States 90.98%

(4) This is a non-income producing security.
</FN>

Investment Summary 7

-----------------------------
UNDERSTANDING YOUR INVESTMENT
-----------------------------

SECURITY SELECTION

The following describes the two components of the trust's portfolio. The
initial trust portfolio seeks to invest in each component in approximately equal
weightings as of the trust's inception and the weightings will vary thereafter
in accordance fluctuations in stock prices. Certain securities may be selected
for inclusion in both components. When a security is selected by both
components, the portfolio's weighting of such security at inception will be
approximately double what it would have been had the security only been selected
by only one component. The NASDAQ Q-50 Index(SM) may comprise less than 50
securities at the trust's inception resulting in the NASDAQ Q-50 Index(SM)
Strategy component consisting of fewer than 50 securities for the life of the
trust.

HIGH 50(R) DIVIDEND STRATEGY. This component invests in stocks selected
using a specialized dividend-oriented strategy that seeks to provide above
average total return. We selected this component using the following strategy:

* We begin with the companies included in the New York Stock Exchange (NYSE)
Composite Index, Nasdaq Composite(R) Index and NYSE MKT Composite Index.

* Stocks are eliminated if at the time of selection:

* the company's stock market capitalization is $1 billion or less,

* the company's headquarters is located outside the United States,

* the stocks are securities of limited partnerships, exchange-traded
funds, investment companies or shares of beneficial interest to the
extent such securities are not otherwise excluded from the composition
of the indexes.

* Of the remaining stocks we select the five stocks in each of the ten
industry sector components with the highest dividend yields. The trust
invests in these 50 stocks.

The ten industry sectors used in the strategy are the Global Industry
Classification Standard sectors published by Standard & Poor's and MSCI Barra.
Please note that we applied the strategy to select the portfolio at a particular
time. If we create additional units of the trust after the trust's inception
date, the trust will purchase the securities originally selected by applying the
strategy. This is true even if a later application of the strategy would have
resulted in the selection of different securities. In addition, companies
which, based on publicly available information as of two business days prior to
the date of this prospectus, are the target of an announced business acquisition
which we expect will happen, within six months of the date of this prospectus
have been excluded from the universe of securities from which the trust's
securities are selected.

This component begins with the NYSE Composite Index, the Nasdaq Composite(R)
Index and the NYSE MKT Composite Index. The NYSE Composite Index is designed
to measure the performance of all common stocks listed on the NYSE, including
American Depository Receipts (ADRs), real estate investment trusts (REITs) and
tracking stocks. All closed-end funds, exchange-traded funds, limited
partnerships and derivatives are excluded from the index. The Nasdaq
Composite(R) Index measures all domestic and international based common type
stocks traded on The Nasdaq Stock Market. To be eligible for inclusion in this
index the security's U.S. listing

8 Understanding Your Investment

must be exclusively on The Nasdaq Stock Market (with certain exceptions), and
have a security type of ADRs, common stock, limited partnership interests,
ordinary shares, REITs, shares of beneficial interest or tracking stocks.
Security types not included in this index are closed-end funds, convertible
debentures, exchange-traded funds, preferred stocks, rights, warrants, units and
other derivative securities. The NYSE MKT Composite Index is an index
representing the aggregate value of the common shares or ADRs of all NYSE MKT-
listed companies, REITs, master limited partnerships and closed-end investment
companies. The publishers of the indexes are not affiliated with us and have
not participated in creating the trust or selecting the securities for the
trust, nor have they reviewed or approved of any of the information contained
herein.

NASDAQ Q-50 INDEX(SM) STRATEGY. This component invests in the securities
included in the NASDAQ Q-50 Index(SM) (the "Index") as of the portfolio
selection date. While the Index is market capitalization-weighted, the trust
will seek to invest in each of the strategy's securities in approximately equal
weightings as of the trust's inception and the weightings will vary thereafter
in accordance with fluctuations in stock prices.

The Index is a market capitalization-weighted index designed to track the
performance of securities that are next-eligible for inclusion in the NASDAQ-100
Index(R). The Index is generally comprised of the 50 securities (the "Index
Securities") ranked by market capitalization and reflects companies across major
industry groups including computer hardware and software, telecommunications,
retail/wholesale trade, and biotechnology. As described under "Quarterly
Evaluations" below, the Index may be comprised of less than 50 securities at
certain points in time. It does not contain securities of financial companies,
including banking and investment companies, as these are ineligible for NASDAQ-
100 Index(R) inclusion.

Index Eligibility. Index eligibility is limited to specific security types
only. The security types eligible for the Index include foreign or domestic
common stocks, ordinary shares, ADRs, shares of beneficial interest or limited
partnership interests, and tracking stocks. Security types not included in the
Index are closed-end funds, convertible debentures, exchange traded funds,
preferred stocks, rights, warrants, units and other derivative securities. The
Index does not contain securities of investment companies.

Initial Eligibility Criteria. To be eligible for initial inclusion in the
Index, a security must meet the existing NASDAQ-100 Index(R) criteria, stated as
follows:

* The security's U.S. listing must be exclusively on the NASDAQ Global
Select Market or the NASDAQ Global Market (unless the security was dually
listed on another U.S. market prior to January 1, 2004 and has continuously
maintained such listing);

* The security must be of a non-financial company;

* The security may not be issued by an issuer currently in bankruptcy
proceedings;

* The security must have average daily trading volume of at least 200,000
shares;

* If the issuer of the security is organized under the laws of a
jurisdiction outside the U.S., then such security must have listed options
on a recognized options market in the U.S. or be eligible for listed-
options trading on a recognized options market in the U.S.;

Understanding Your Investment 9

* Only one security per issuer is allowed;

* The issuer of the security may not have entered into a definitive
agreement or other arrangement which would likely result in the security no
longer being Index eligible;

* The issuer of the security may not have annual financial statements with
an audit opinion that is currently withdrawn;

* The issuer of the security must have "seasoned" on NASDAQ or another
recognized market (generally, a company is considered to be seasoned if it
has been listed on a market for at least two years; in the case of spin-
offs, the operating history of the spin-off will be considered).

For purposes of Index eligibility criteria, if the security is a depositary
receipt representing a security of a non-U.S. issuer, then references to the
"issuer" are references to the issuer of the underlying security.

Continued Eligibility Criteria. In addition to the criteria above, the
following criteria are monitored continually for continued inclusion in the
Index:

* The security may not be issued by an issuer currently in bankruptcy
proceedings;

* The issuer of the security may not have annual financial statements with
an audit opinion that is currently withdrawn.

Quarterly Evaluation. Coinciding with the quarterly calendar cycle (i.e.
March, June, September, and December), all securities that meet the initial
inclusion criteria are evaluated and ranked by market value. The data used in
the ranking includes January, April, July and October month-end NASDAQ market
data and are updated for total shares outstanding submitted in a publicly filed
Securities and Exchange Commission document through the end of the month prior
to the quarterly evaluation. At such quarterly evaluations, the top 50
securities by market value are selected for inclusion in the Index. Any
security additions and deletions shall be made effective after the close of
trading on the third Friday of each March, June, September and December.

Ordinarily, if at any time during the year other than the Quarterly
Evaluations, an Index Security no longer meets the Index inclusion criteria, or
is otherwise determined by the Index administrator to have become ineligible for
continued inclusion in the Index, the security will be deleted and will not be
replaced. As a result, the Index may consist of less than 50 stocks at the
trust's inception resulting in the NASDAQ Q-50 Index(SM) Strategy component
consisting of fewer than 50 stocks for the life of the trust. When a component
security from the Index is added to the NASDAQ-100 Index(R), the security will
be deleted from the Index and will not be replaced. Since the Index is subject
to a quarterly evaluation while the review for eligible NASDAQ-100 Index(R)
securities is done on a monthly basis, it is possible that a security added to
the NASDAQ-100 Index(R) intra-quarter may not be a constituent of the Index at
the time of addition to the NASDAQ-100 Index(R).

Index Information. The trust is not sponsored, endorsed, sold or promoted by
The NASDAQ

10 Understanding Your Investment

OMX Group, Inc. or its affiliates (NASDAQ OMX, with its affiliates, are referred
to as the "Corporations"). The Corporations have not passed on the legality or
suitability of, or the accuracy or adequacy of descriptions and disclosures
relating to, the trust. The Corporations make no representation or warranty,
express or implied to the owners of the trust or any member of the public
regarding the advisability of investing in securities generally or in the trust
particularly, or the ability of the Nasdaq Q-50 Index(SM) to track general stock
market performance. The Corporations' only relationship to Advisors Asset
Management, Inc. and the trust ("Licensee") is in the licensing of the
Nasdaq(R), OMX(R), NASDAQ OMX(R), Nasdaq Q-50(SM), and Nasdaq Q-50 Index(SM)
registered trademarks, and certain trade names and service marks of the
Corporations and the use of the Nasdaq Q-50 Index(SM) which is determined,
composed and calculated by NASDAQ OMX(R) without regard to Licensee. NASDAQ
OMX(R) has no obligation to take the needs of the Licensee or the owners of the
trust into consideration in determining, composing or calculating the Nasdaq Q-
50 Index(SM). The Corporations are not responsible for and have not
participated in the determination of the timing of, prices at, or quantities of
the trust to be issued or in the determination or calculation of the equation by
which the trust is to be converted into cash. The Corporations have no
liability in connection with the administration, marketing or trading of the
trust.

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED
CALCULATION OF THE NASDAQ Q-50 INDEX(SM) OR ANY DATA INCLUDED THEREIN. THE
CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED
BY LICENSEE, OWNERS OF THE TRUST, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF
THE NASDAQ Q-50 INDEX(SM) OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE
NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE
NASDAQ Q-50 INDEX(SM) OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE
FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST
PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES,
EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Please note that we applied the strategy to select the portfolio at a
particular time. If we create additional units of the trust after the trust's
inception date, the trust will purchase the securities originally selected by
applying the strategy. This is true even if a later application of the strategy
would have resulted in the selection of different securities. In addition,
companies which, based on publicly available information as of two business days
prior to the date of this prospectus, are the target of an announced business
acquisition which we expect will happen within six months of the date of this
prospectus have been excluded from the universe of securities from which the
trust's securities are selected.

HOW TO BUY UNITS

You can buy units of the trust on any business day the New York Stock
Exchange is open by contacting your financial professional. Unit prices are
available daily on the Internet at WWW.AAMPORTFOLIOS.COM. The public offering
price of units includes:

* the net asset value per unit plus

* organization costs plus

* the sales fee.

Understanding Your Investment 11

The "net asset value per unit" is the value of the securities, cash and other
assets in the trust reduced by the liabilities of the trust divided by the total
units outstanding. We often refer to the public offering price of units as the
"offer price" or "purchase price." The offer price will be effective for all
orders received prior to the close of regular trading on the New York Stock
Exchange (normally 4:00 p.m. Eastern time). If we receive your order prior to
the close of regular trading on the New York Stock Exchange or authorized
financial professionals receive your order prior to that time and properly
transmit the order to us by the time that we designate, then you will receive
the price computed on the date of receipt. If we receive your order after the
close of regular trading on the New York Stock Exchange, if authorized financial
professionals receive your order after that time or if orders are received by
such persons and are not transmitted to us by the time that we designate, then
you will receive the price computed on the date of the next determined offer
price provided that your order is received in a timely manner on that date. It
is the responsibility of the authorized financial professional to transmit the
orders that they receive to us in a timely manner. Certain broker-dealers may
charge a transaction or other fee for processing unit purchase orders.

VALUE OF THE SECURITIES. We determine the value of the securities as of the
close of regular trading on the New York Stock Exchange on each day that
exchange is open. We generally determine the value of securities using the last
sale price for securities traded on a national securities exchange. For this
purpose, the trustee provides us closing prices from a reporting service
approved by us. In some cases we will price a security based on its fair value
after considering appropriate factors relevant to the value of the security. We
will only do this if a security is not principally traded on a national
securities exchange or if the market quotes are unavailable or inappropriate.

We determined the initial prices of the securities shown under "Portfolio" in
this prospectus as described above at the close of regular trading on the New
York Stock Exchange on the business day before the date of this prospectus. On
the first day we sell units we will compute the unit price as of the close of
regular trading on the New York Stock Exchange or the time the registration
statement filed with the Securities and Exchange Commission becomes effective,
if later.

ORGANIZATION COSTS. During the initial offering period, part of the value of
the units represents an amount that will pay the costs of creating your trust.
These costs include the costs of preparing the registration statement and legal
documents, federal and state registration fees, the initial fees and expenses of
the trustee and the initial audit. Your trust will sell securities to reimburse
us for these costs at the end of the initial offering period or after six
months, if earlier. The value of your units will decline when the trust pays
these costs.

TRANSACTIONAL SALES FEE. You pay a fee in connection with purchasing units.
We refer to this fee as the "transactional sales fee." The transactional sales
fee has both an initial and a deferred component and equals 2.45% of the public
offering price per unit based on a $10 public offering price per unit. This
percentage amount of the transactional sales fee is based on the unit price on
the trust's inception date. The transactional sales fee equals the difference
between the total sales fee and the creation and

12 Understanding Your Investment

development fee. As a result, the percentage and dollar amount of the
transactional sales fee will vary as the public offering price per unit varies.
The transactional sales fee does not include the creation and development fee
which is described under ."

The maximum sales fee equals 2.95% of the public offering price per unit at
the time of purchase. You pay the initial sales fee at the time you buy units.
The initial sales fee is the difference between the total sales fee percentage
(maximum of 2.95% of the public offering price per unit) and the sum of the
remaining fixed dollar deferred sales fee and the total fixed dollar creation
and development fee. The initial sales fee will be approximately 1.00% of the
public offering price per unit depending on the public offering price per unit.
The deferred sales fee is fixed at $0.145 per unit. Your trust pays the
deferred sales fee in equal monthly installments as described on page 3. If you
redeem or sell your units prior to collection of the total deferred sales fee,
you will pay any remaining deferred sales fee upon redemption or sale of your
units.

MINIMUM PURCHASE. The minimum amount you can purchase of the trust appears
on page 3 under "Essential Information", but such amounts may vary depending on
your selling firm.

REDUCING YOUR SALES FEE. We offer a variety of ways for you to reduce the
fee you pay. It is your financial professional's responsibility to alert us of
any discount when you order units. Except as expressly provided herein, you may
not combine discounts. Since the deferred sales fee and the creation and
development fee are fixed dollar amounts per unit, your trust must charge these
fees per unit regardless of any discounts. However, if you are eligible to
receive a discount such that your total sales fee is less than the fixed dollar
amounts of the deferred sales fee and the creation and development fee, we will
credit you the difference between your total sales fee and these fixed dollar
fees at the time you buy units.

Large Purchases. You can reduce your sales fee by increasing the size of
your investment:

IF YOU PURCHASE: YOUR FEE WILL BE:
------------------------------------------

Less than $50,000 2.95%
$50,000 - $99,999 2.70
$100,000 - $249,999 2.45
$250,000 - $499,999 2.20
$500,000 - $999,999 1.95
$1,000,000 or more 1.40

We apply these fees as a percent of the public offering price per unit at the
time of purchase. The breakpoints will be adjusted to take into consideration
purchase orders stated in dollars which cannot be completely fulfilled due to
the requirements that only whole units be issued.

You aggregate initial offering period unit orders submitted by the same
person for units of any of the trusts we sponsor on any single day from any one
broker-dealer to qualify for a purchase level. If you purchase initial offering
period units that qualify for the fee account or rollover/exchange discount
described below and also purchase additional initial offering period units on a
single day from the same broker-dealer that do not qualify for the fee account
or rollover/exchange discount, you aggregate all initial offering period units
purchased for purposes of determining the applicable breakpoint level in the
table above on the additional units, but such additional units will not qualify
for the fee account or rollover/exchange discount described below. Secondary
market unit purchases are not aggregated

Understanding Your Investment 13

with initial offering period unit purchases for purposes of determining the
applicable breakpoint level. You can also include these orders as your own for
purposes of this aggregation:

* orders submitted by your spouse or children (including step-children)
under 21 years of age living in the same household and

* orders submitted by your trust estate or fiduciary accounts.

The discounts described above apply only to initial offering period
purchases.

Fee Accounts. Investors may purchase units through registered investment
advisers, certified financial planners or registered broker-dealers who in each
case either charge investor accounts ("Fee Accounts") periodic fees for
brokerage services, financial planning, investment advisory or asset management
services, or provide such services in connection with an investment account for
which a comprehensive "wrap fee" charge ("Wrap Fee") is imposed. You should
consult your financial advisor to determine whether you can benefit from these
accounts. To purchase units in these Fee Accounts, your financial advisor must
purchase units designated with one of the Fee Account CUSIP numbers, if
available. Please contact your financial advisor for more information. If
units of the trust are purchased for a Fee Account and the units are subject to
a Wrap Fee in such Fee Account (i.e., the trust is "Wrap Fee Eligible") then
investors may be eligible to purchase units of the trust in these Fee Accounts
that are not subject to the transactional sales fee but will be subject to the
creation and development fee that is retained by the sponsor. For example, this
table illustrates the sales fee you will pay as a percentage of the initial $10
public offering price per unit (the percentage will vary with the unit price).

Initial sales fee 0.00%
Deferred sales fee 0.00%
-------
Transactional sales fee 0.00%
=======
Creation and development fee 0.50%
-------
Total sales fee 0.50%
=======

This discount applies only during the initial offering period. Certain Fee
Account investors may be assessed transaction or other fees on the purchase
and/or redemption of units by their broker-dealer or other processing
organizations for providing certain transaction or account activities. We
reserve the right to limit or deny purchases of units in Fee Accounts by
investors or selling firms whose frequent trading activity is determined to be
detrimental to the trust.

Employees. We waive the transactional sales fee for purchases made by
officers, directors and employees (and immediate family members) of the sponsor
and its affiliates. These purchases are not subject to the transactional sales
fee but will be subject to the creation and development fee. We also waive a
portion of the sales fee for purchases made by officers, directors and employees
(and immediate family members) of selling firms. These purchases are made at the
public offering price per unit less the applicable regular dealer concession.
Immediate family members for the purposes of this section include your spouse,
children (including step-children) under the age of 21 living in the same
household, and parents (including step-parents). These discounts apply to
initial offering period and secondary market purchases. All employee discounts
are subject to the policies of the related selling firm, including but not
limited to, householding policies or limitations. Only officers, directors and
employees (and their immediate family members) of selling firms that allow

14 Understanding Your Investment

such persons to participate in this employee discount program are eligible for
the discount.

Rollover/Exchange Option. We waive a portion of the sales fee on units of
the trust offered in this prospectus if you buy your units with redemption or
termination proceeds from any unit investment trusts (regardless of sponsor).
The discounted public offering price per unit for these transactions is equal to
the regular public offering price per unit less 1.00%. However, if you invest
redemption or termination proceeds of $500,000 or more in units of the trust,
the maximum sales fee on your units will be limited to the maximum sales fee for
the applicable amount invested in the table under "Large Purchases" above. To
qualify for this discount, the termination or redemption proceeds used to
purchase units of the trust offered in this prospectus must be derived from a
transaction that occurred within 30 calendar days of your purchase of units of
the trust offered in this prospectus. In addition, the discount will only be
available for investors that utilize the same broker-dealer (or a different
broker-dealer with appropriate notification) for both the unit purchase and the
transaction resulting in the receipt of the termination or redemption proceeds
used for the unit purchase. You may be required to provide appropriate
documentation or other information to your broker-dealer to evidence your
eligibility for this sales fee discount.

Please note that if you purchase units of the trust in this manner using
redemption proceeds from trusts which assess the amount of any remaining
deferred sales fee at redemption, you should be aware that any deferred sales
fee remaining on these units will be deducted from those redemption proceeds.
These discounts apply only to initial offering period purchases.

Dividend Reinvestment Plan. We do not charge any sales fee when you reinvest
distributions from your trust into additional units of the trust. This sales
fee discount applies to initial offering period and secondary market purchases.
Since the deferred sales fee and the creation and development fee are fixed
dollar amounts per unit, your trust must charge these fees per unit regardless
of this discount. If you elect the distribution reinvestment plan, we will
credit you with additional units with a dollar value sufficient to cover the
amount of any remaining deferred sales fee or creation and development fee that
will be collected on such units at the time of reinvestment. The dollar value
of these units will fluctuate over time.

RETIREMENT ACCOUNTS. The portfolio may be suitable for purchase in tax-
advantaged retirement accounts. You should contact your financial professional
about the accounts offered and any additional fees imposed.

HOW TO SELL YOUR UNITS

You can sell or redeem your units on any business day the New York Stock
Exchange is open by contacting your financial professional. Unit prices are
available daily on the Internet at WWW.AAMPORTFOLIOS.COM or through your
financial professional. The sale and redemption price of units is equal to the
net asset value per unit, provided that you will not pay any remaining creation
and development fee or organization costs if you sell or redeem units during the
initial offering period. The sale and redemption price is sometimes referred to
as the "liquidation price." You pay any remaining deferred sales fee when you
sell or redeem your units. Certain broker-dealers may charge a transaction or
other fee for processing unit redemption or sale requests.

Understanding Your Investment 15

SELLING UNITS. We may maintain a secondary market for units. This means
that if you want to sell your units, we may buy them at the current net asset
value, provided that you will not pay any remaining creation and development fee
or organization costs if you sell units during the initial offering period. We
may then resell the units to other investors at the public offering price or
redeem them for the redemption price. Our secondary market repurchase price is
the same as the redemption price. Certain broker-dealers might also maintain a
secondary market in units. You should contact your financial professional for
current repurchase prices to determine the best price available. We may
discontinue our secondary market at any time without notice. Even if we do not
make a market, you will be able to redeem your units with the trustee on any
business day for the current redemption price.

REDEEMING UNITS. You may also redeem your units directly with the trustee,
The Bank of New York Mellon, on any day the New York Stock Exchange is open.
The redemption price that you will receive for units is equal to the net asset
value per unit, provided that you will not pay any remaining creation and
development fee or organization costs if you redeem units during the initial
offering period. You will pay any remaining deferred sales fee at the time you
redeem units. You will receive the net asset value for a particular day if the
trustee receives your completed redemption request prior to the close of regular
trading on the New York Stock Exchange. Redemption requests received by
authorized financial professionals prior to the close of regular trading on the
New York Stock Exchange that are properly transmitted to the trustee by the time
designated by the trustee, are priced based on the date of receipt. Redemption
requests received by the trustee after the close of regular trading on the New
York Stock Exchange, redemption requests received by authorized financial
professionals after that time or redemption requests received by such persons
that are not transmitted to the trustee until after the time designated by the
trustee, are priced based on the date of the next determined redemption price
provided they are received in a timely manner by the trustee on such date. It
is the responsibility of authorized financial professionals to transmit
redemption requests received by them to the trustee so they will be received in
a timely manner. If your request is not received in a timely manner or is
incomplete in any way, you will receive the next net asset value computed after
the trustee receives your completed request.

If you redeem your units, the trustee will generally send you a payment for
your units no later than seven days after it receives all necessary
documentation (this will usually only take three business days). The only time
the trustee can delay your payment is if the New York Stock Exchange is closed
(other than weekends or holidays), the Securities and Exchange Commission
determines that trading on that exchange is restricted or an emergency exists
making sale or evaluation of the securities not reasonably practicable, and for
any other period that the Securities and Exchange Commission permits.

You can request an in-kind distribution of the securities underlying your
units if you tender at least 2,500 units for redemption (or such other amount as
required by your financial professional's firm). This option is generally
available only for securities traded and held in the United States. The trustee
will make any in-kind distribution of securities by distributing applicable
securities in book entry form to the account of your financial professional at
Depository Trust Company. You will receive whole shares of the applicable
securities and cash equal to any fractional shares. You may not request this
option in the last 30 days of

16 Understanding Your Investment

your trust's life. We may discontinue this option upon sixty days notice.

EXCHANGE OPTION. You may be able to exchange your units for units of our
unit trusts at a reduced sales fee. You can contact your financial professional
for more information about trusts currently available for exchanges. Before you
exchange units, you should read the prospectus carefully and understand the
risks and fees. You should then discuss this option with your financial
professional to determine whether your investment goals have changed, whether
current trusts suit you and to discuss tax consequences. We may discontinue
this option at any time upon sixty days notice.

ROLLOVER OPTION. The trust strategy is a long-term investment strategy
designed to be followed on an annual basis. You may achieve more consistent
long-term investment results by following the strategy. As part of the
strategy, we currently intend to offer a subsequent series of the trust for a
rollover when the current trust terminates. When the trust terminates you will
have the option to (1) participate in a rollover and have your units reinvested
into a subsequent trust series through a cash rollover as described in this
section, (2) receive an in-kind distribution of securities or (3) receive a cash
distribution.

If you elect to participate in a rollover, your units will be redeemed on the
trust's termination date. As the redemption proceeds become available, the
proceeds (including dividends) will be invested in a new trust series, if
available, at the public offering price for the new trust. The trustee will
attempt to sell securities to satisfy the redemption as quickly as practicable
on the termination date. We do not anticipate that the sale period will be
longer than one day, however, certain factors could affect the ability to sell
the securities and could impact the length of the sale period. The liquidity of
any security depends on the daily trading volume of the security and the amount
available for redemption and reinvestment on any day.

We intend to make subsequent trust series available for sale at various times
during the year. Of course, we cannot guarantee that a subsequent trust or
sufficient units will be available or that any subsequent trusts will offer the
same investment strategies or objectives as the current trust. We cannot
guarantee that a rollover will avoid any negative market price consequences
resulting from trading large volumes of securities. Market price trends may
make it advantageous to sell or buy securities more quickly or more slowly than
permitted by the trust procedures. We may, in our sole discretion, modify a
rollover or stop creating units of a trust at any time regardless of whether all
proceeds of unitholders have been reinvested in a rollover. We may decide not
to offer the rollover option upon sixty days notice. Cash which has not been
reinvested in a rollover will be distributed to unitholders shortly after the
termination date. Rollover participants may receive taxable dividends or
realize taxable capital gains which are reinvested in connection with a rollover
but may not be entitled to a deduction for capital losses due to the "wash sale"
tax rules. Due to the reinvestment in a subsequent trust, no cash will be
distributed to pay any taxes. See "Taxes".

DISTRIBUTIONS

MONTHLY DISTRIBUTIONS. Your trust generally pays distributions of its net
investment income (pro-rated on an annual basis) along with any excess capital
on each monthly distribution date to unitholders of record on the preceding
record date. The record and distribution dates are

Understanding Your Investment 17

shown under "Essential Information" in the "Investment Summary" section of this
prospectus. In some cases, your trust might pay a special distribution if it
holds an excessive amount of cash pending distribution. For example, this could
happen as a result of a merger or similar transaction involving a company whose
stock is in your portfolio. The trust will also generally make required
distributions or distributions to avoid imposition of tax at the end of each
year because it is structured as a "regulated investment company" for federal
tax purposes. The amount of your distributions will vary from time to time as
companies change their dividends or trust expenses change.

When the trust receives dividends or other income payments from a portfolio
security, the trustee credits the dividends or other income payments to the
trust's accounts. In an effort to make relatively regular income distributions,
the trust's monthly income distribution is equal to one-twelfth of the estimated
net annual income to be received by the trust after deduction of trust operating
expenses. Because the trust does not receive dividends from the portfolio
securities at a constant rate throughout the year, the trust's income
distributions to unitholders may be more or less than the amount credited to the
trust accounts as of the record date. For the purpose of minimizing fluctuation
in income distributions, the trustee is authorized to advance such amounts as
may be necessary to provide income distributions of approximately equal amounts.
The trustee will be reimbursed, without interest, for any such advances from
available income received by the trust on the ensuing record date.

ESTIMATED ANNUAL DISTRIBUTIONS. The estimated net annual distributions are
shown under "Essential Information" in the "Investment Summary" section of this
prospectus. We generally base the estimate of the income the trust may receive
on annualizing the most recent ordinary dividend declared by an issuer (or
adding the most recent interim and final dividends declared for certain foreign
issuers) or on scheduled income payments. However, dividend conventions for
certain companies and/or certain countries differ from those typically used in
the United States and in certain instances, dividends paid or declared over
several years or other periods were used to estimate annual distributions. Due
to this and various other factors, actual income payments received by the trust
will most likely differ from the most recent annualized dividends or scheduled
income payments. The actual net annual distributions you will receive will vary
with changes in the trust's fees and expenses, in income payments received and
with the sale of securities.

REPORTS. The trustee or your financial professional will make available to
you a statement showing income and other receipts of your trust for each
distribution. Each year the trustee will also provide an annual report on your
trust's activity and certain tax information. You can request copies of
security evaluations to enable you to complete your tax forms and audited
financial statements for your trust, if available.

INVESTMENT RISKS

All investments involve risk. This section describes the main risks that can
impact the value of the securities in your portfolio. You should understand
these risks before you invest. If the value of the securities falls, the value
of your units will also fall. We cannot guarantee that your trust will achieve
its objective or that your investment return will be positive over any period.

MARKET RISK is the risk that the value of the securities in your trust will
fluctuate. This could

18 Understanding Your Investment

cause the value of your units to fall below your original purchase price.
Market value fluctuates in response to various factors. These can include
changes in interest rates, inflation, the financial condition of a security's
issuer, perceptions of the issuer, or ratings on a security. Even though we
supervise your portfolio, you should remember that we do not manage your
portfolio. Your trust will not sell a security solely because the market value
falls as is possible in a managed fund.

DIVIDEND PAYMENT RISK is the risk that an issuer of a security is unwilling
or unable to pay income on a security. Stocks represent ownership interests in
the issuers and are not obligations of the issuers. Common stockholders have a
right to receive dividends only after the company has provided for payment of
its creditors, bondholders and preferred stockholders. Common stocks do not
assure dividend payments. Dividends are paid only when declared by an issuer's
board of directors and the amount of any dividend may vary over time.

CONCENTRATION RISK is the risk that the value of your trust is more
susceptible to fluctuations based on factors that impact a particular industry
because the portfolio concentrates in companies within that industry. A
portfolio "concentrates" in an industry when stocks in a particular industry
make up 25% or more of the portfolio.

SMALL AND MID-SIZE COMPANIES. The trust invests significantly in securities
issued by small and mid-size companies. The share prices of these companies are
often more volatile than those of larger companies as a result of several
factors common to many such issuers, including limited trading volumes, products
or financial resources, management inexperience and less publicly available
information.

STRATEGY CORRELATION RISK is the risk that the trust's performance will not
sufficiently correspond with the hypothetical performance of the trust's
investment strategy. This can happen for reasons such as:

* the impracticability of owning each of the strategy stocks with the exact
weightings at a given time,

* strategy performance is based on a calendar year strategy while trusts may
be created at various times during the year and generally have 15 month
terms,

* the trust may not be fully invested at all times, and

* trust fees and expenses.

FOREIGN ISSUER RISK. Because the trust invests in stocks of foreign
companies, the trust involves additional risks that differ from an investment
exclusively in domestic stocks. These risks include the risk of losses due to
future political and economic developments, international trade conditions,
foreign withholding taxes and restrictions on foreign investments and exchange
of securities. The trust also involves the risk that fluctuations in exchange
rates between the U.S. dollar and foreign currencies may negatively affect the
value of the stocks. The trust involves the risk that information about the
stocks is not publicly available or is inaccurate due to the absence of uniform
accounting and financial reporting standards. In addition, some foreign
securities markets are less liquid than U.S. markets. This could cause the
trust to buy stocks at a higher price or sell stocks at a lower price than would
be the case in a highly liquid market. Foreign securities markets are often
more volatile and involve higher trading costs than U.S. markets, and foreign
companies, securities markets

Understanding Your Investment 19

and brokers are also generally not subject to the same level of supervision and
regulation as in the U.S. Certain stocks may be held in the form of ADRs. ADRs
represent receipts for foreign common stock deposited with a custodian (which
may include the trustee of your trust). The ADRs in the trust, if any, trade in
the U.S. in U.S. dollars and are registered with the Securities and Exchange
Commission. ADRs generally involve the same types of risks as foreign common
stock held directly. Some ADRs may experience less liquidity than the
underlying common stocks traded in their home market.

LEGISLATION OR LITIGATION RISK is the risk that various legislative
initiatives will be proposed from time to time in the United States and abroad
which may have a negative impact on certain of the companies represented in the
trust. In addition, litigation regarding any of the issuers of the securities
or of the industries represented by these issuers may negatively impact the
share prices of these securities. No one can predict what impact any pending or
threatened litigation will have on the share prices of the securities.

LIQUIDITY RISK is the risk that the value of a security will fall if trading
in the security is limited or absent. No one can guarantee that a liquid
trading market will exist for any security.

NO FDIC GUARANTEE. An investment in the trust is not a deposit of any bank
and is not insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.

HYPOTHETICAL PERFORMANCE INFORMATION

The following table compares hypothetical performance information for the
strategy employed by the trust, the High 50(R) Dividend Strategy, the NASDAQ Q-
50 Index(SM) Strategy, and the actual performance of the Standard & Poor's 500
Index in each of the years listed (and as of the most recent month end). These
hypothetical returns do not guarantee and should not be used to predict future
performance of the trust. Returns from the trust will differ from the
hypothetical strategy returns for several reasons, including:

* total return figures shown do not reflect commissions paid by the trust on
the purchase of securities or taxes you will incur;

* strategy returns are for calendar years (and through the most recent
month), while trusts begin and end on various dates;

* extraordinary market events that we have not expected to be repeated and
may have affected performance;

* the trust has a scheduled term longer than one year;

* the trust may not be fully invested at all times or equally weighted in
all stocks comprising its strategy; and

* the trust often purchases or sells securities at prices different from the
closing prices used in buying and selling units.

You should note that the trust is not designed to parallel movements in any
index, and it is not expected that it will do so. In fact, the trust's strategy
underperformed its comparative indexes in certain years and we cannot guarantee
that the trust will outperform any index over the life of the trust or over
consecutive rollover periods, if available.

20 Understanding Your Investment

-------------------------------------------------------------------------------------------------------------------------
HYPOTHETICAL COMPARISON OF TOTAL RETURNS
-------------------------------------------------------------------------------------------------------------------------

STRATEGIC HIGH 50(R)/Q-50
DIVIDEND AND GROWTH HIGH 50(R) DIVIDEND NASDAQ Q-50 INDEX(SM) STANDARD &
STRATEGY HYPOTHETICAL STRATEGY HYPOTHETICAL STRATEGY HYPOTHETICAL POOR'S 500
YEAR PERFORMANCE PERFORMANCE PERFORMANCE INDEX

-------------------------------------------------------------------------------------------------------------------------

2004 12.32% 13.43% 11.03% 10.87%
2005 7.34 3.37 11.31+ 4.91
2006 14.02 21.49+ 6.55+ 15.78
2007 8.10 4.02 12.17+ 5.49
2008 -41.72 -42.34+ -41.10 -36.99
2009 45.31+ 40.61+ 50.00+ 26.47
2010 22.15+ 17.99 26.32+ 15.08
2011 0.92 5.51 -3.66+ 2.09
2012 12.02 7.22+ 16.83 15.99
2013 thru 3/29 8.14 7.92 8.38 10.60

Source: Bloomberg L.P.

<FN>
+ these returns are the result of extraordinary market events and are not
expected to be repeated
</FN>
-------------------------------------------------------------------------------------------------------------------------

Past performance is no guarantee of future results. Past performance of the
trust strategy (Strategic High 50(R)/Q-50 Dividend and Growth Strategy), High
50(R) Dividend Strategy and NASDAQ Q-50 Index(SM) Strategy stocks (the "strategy
stocks") is hypothetical (and does not represent any actual trust), is shown for
illustrative purposes only and is not intended to indicate the future
performance of any investment, including the trust. The strategy stocks for a
given year consist of the common stocks selected by applying the strategy as of
the beginning of the period (and not the date the trust actually sells units).
The hypothetical past performance of the Strategic High 50(R)/Q-50 Dividend and
Growth Strategy stocks for 2 of the 10 periods shown are the result of
extraordinary market events and are not expected to be repeated.

Securities are selected through application of a strategy at a particular
point in time and if a security which is a component of a strategy is merged out
of existence, de-listed or suffers a similar fate during the period in which the
strategy performance is being measured, such security will not be replaced by
another security during that period. The strategy is not rebalanced during each
one year period and as a result the stocks used for determining hypothetical
performance will not take into account subsequent changes to the indexes used as
a starting point for the strategy. Total return represents the sum of the
change in market value of each group of stocks between the first and last
trading day of a period plus the total dividends paid on each group of stocks
during such period divided by the opening market value of each group of stocks
as of the first trading day of a period. Total return figures assume that all
dividends are reinvested semi-annually. Strategy figures reflect the deduction
of sales charges and expenses but have not been reduced by estimated brokerage
commissions and other transaction costs paid by the trust in acquiring
securities or any taxes incurred by investors. Simulated returns are
hypothetical, meaning that they do not represent actual trading, and, thus, may
not reflect material economic and market factors, such as liquidity constraints,
that may have had an impact on actual

Understanding Your Investment 21

decision making. The hypothetical performance is the retroactive application of
the strategy designed with the full benefit of hindsight.

The Standard & Poor's 500 Index is an index that includes a representative
sample of 500 leading companies in leading industries of the U.S. economy.
Although the Standard & Poor's 500 Index focuses on the large-cap segment of the
market, with over 80% coverage of U.S. equities, it is also often considered a
proxy for the total U.S. stock market. The indexes are unmanaged, not subject
to fees, and not available for direct investment.

The publisher of the index is not affiliated with us and has not participated
in creating the trust or selecting the securities for the trust, nor has the
publisher reviewed or approved of any of the information contained herein.

HOW THE TRUST WORKS

YOUR TRUST. Your trust is a unit investment trust registered under the
Investment Company Act of 1940. We created the trust under a trust agreement
between Advisors Asset Management, Inc. (as depositor/sponsor, evaluator and
supervisor) and The Bank of New York Mellon (as trustee). To create your trust,
we deposited securities with the trustee (or contracts to purchase securities
along with an irrevocable letter of credit or other consideration to pay for the
securities). In exchange, the trustee delivered units of your trust to us.
Each unit represents an undivided interest in the assets of your trust. These
units remain outstanding until redeemed or until your trust terminates. At the
close of the New York Stock Exchange on the trust's inception date, the number
of units may be adjusted so that the public offering price per unit equals $10.
The number of units and fractional interest of each unit in the trust will
increase or decrease to the extent of any adjustment.

CHANGING YOUR PORTFOLIO. Your trust is not a managed fund. Unlike a managed
fund, we designed your portfolio to remain relatively fixed. Your trust will
generally buy and sell securities:

* to pay expenses,

* to issue additional units or redeem units,

* in limited circumstances to protect the trust,

* to make required distributions or avoid imposition of taxes on the trust,
or

* as permitted by the trust agreement.

When your trust sells securities, the composition and diversity of the
securities in the portfolio may be altered. If a public tender offer has been
made for a security or a merger, acquisition or similar transaction has been
announced affecting a security, the trustee may either sell the security or
accept a tender offer if the supervisor determines that the action is in the
best interest of unitholders. The trustee will distribute any cash proceeds to
unitholders. If your trust receives securities or other property, it will
either hold the securities or property in the portfolio or sell the securities
or property and distribute the proceeds. If any contract for the purchase of
securities fails, the sponsor will refund the cash and sales fee attributable to
the failed contract to unitholders on or before the next distribution date
unless substantially all of the moneys held to cover the purchase are reinvested
in substitute securities in accordance with the trust agreement. The sponsor
may direct the reinvestment of security sale proceeds if the sale is the direct
result of serious adverse credit factors which, in the opinion of the sponsor,
would make retention of the

22 Understanding Your Investment

securities detrimental to the trust. In such a case, the sponsor may, but is
not obligated to, direct the reinvestment of sale proceeds in any other
securities that meet the criteria for inclusion in the trust on the trust's
inception date. The sponsor may also instruct the trustee to take action
necessary to ensure that the portfolio continues to satisfy the qualifications
of a regulated investment company.

We will increase the size of your trust as we sell units. When we create
additional units, we will seek to replicate the existing portfolio. When your
trust buys securities, it may pay brokerage or other acquisition fees. You
could experience a dilution of your investment because of these fees and
fluctuations in security prices between the time we create units and the time
your trust buys the securities. When your trust buys or sells securities, we
may direct that it place orders with and pay brokerage commissions to brokers
that sell units or are affiliated with us, your trust or the trustee.

Pursuant to an exemptive order, your trust may be able to purchase securities
from other trusts that we sponsor when we create additional units. Your trust
may also be able to sell securities to other trusts that we sponsor to satisfy
unit redemption, pay deferred sales charges or expenses, in connection with
periodic tax compliance or in connection with the termination of your trust.
The exemption may enable each trust to eliminate commission costs on these
transactions. The price for those securities will be the closing price on the
sale date on the exchange where the securities are principally traded as
certified by us to the trustee.

AMENDING THE TRUST AGREEMENT. The sponsor and the trustee can change the
trust agreement without your consent to correct any provision that may be
defective or to make other provisions that will not materially adversely affect
your interest (as determined by the sponsor and the trustee). We cannot change
this agreement to reduce your interest in your trust without your consent.
Investors owning two-thirds of the units in your trust may vote to change this
agreement.

TERMINATION OF YOUR TRUST. Your trust will terminate on the termination date
set forth under "Essential Information" in the "Investment Summary" section of
this prospectus. The trustee may terminate your trust early if the value of the
trust is less than 40% of the original value of the securities in the trust at
the time of deposit. At this size, the expenses of your trust may create an
undue burden on your investment. Investors owning two-thirds of the units in
your trust may also vote to terminate the trust early. The trustee will
liquidate the trust in the event that a sufficient number of units not yet sold
to the public are tendered for redemption so that the net worth of the trust
would be reduced to less than 40% of the value of the securities at the time
they were deposited in the trust. If this happens, we will refund any sales
charge that you paid.

The trustee will notify you of any termination and sell any remaining
securities. The trustee will send your final distribution to you within a
reasonable time following liquidation of all the securities after deducting
final expenses. Your termination distribution may be less than the price you
originally paid for your units.

THE SPONSOR. The sponsor of the trust is Advisors Asset Management, Inc. We
are a broker-dealer specializing in providing trading and support services to
broker-dealers, registered representatives, investment advisers and other
financial

Understanding Your Investment 23

professionals. Our headquarters are located at 18925 Base Camp Road, Monument,
Colorado 80132. You can contact our unit investment trust division at 8100 East
22nd Street North, Building 800, Suite 102, Wichita, Kansas 67226 or by using
the contacts listed on the back cover of this prospectus. AAM is a registered
broker-dealer and investment adviser, a member of the Financial Industry
Regulatory Authority, Inc. (FINRA) and Securities Investor Protection
Corporation (SIPC) and a registrant of the Municipal Securities Rulemaking Board
(MSRB). If we fail to or cannot perform our duties as sponsor or become
bankrupt, the trustee may replace us, continue to operate your trust without a
sponsor, or terminate your trust.

We and your trust have adopted a code of ethics requiring our employees who
have access to information on trust transactions to report personal securities
transactions. The purpose of the code is to avoid potential conflicts of
interest and to prevent fraud, deception or misconduct with respect to your
trust.

The sponsor or an affiliate may use the list of securities in the trust in
its independent capacity (which may include acting as an investment adviser or
broker-dealer) and distribute this information to various individuals and
entities. The sponsor or an affiliate may recommend or effect transactions in
the securities. This may also have an impact on the price your trust pays for
the securities and the price received upon unit redemption or trust termination.
The sponsor may act as agent or principal in connection with the purchase and
sale of securities, including those held by the trust, and may act as a
specialist market maker in the securities. The sponsor may also issue reports
and make recommendations on the securities in the trust. The sponsor or an
affiliate may have participated in a public offering of one or more of the
securities in the trust. The sponsor, an affiliate or their employees may have
a long or short position in these securities or related securities. An officer,
director or employee of the sponsor or an affiliate may be an officer or
director for the issuers of the securities.

THE TRUSTEE. The Bank of New York Mellon is the trustee of your trust with
its principal unit investment trust division offices located at 2 Hanson Place,
12th Floor, Brooklyn, New York 11217. You can contact the trustee by calling
the telephone number on the back cover of this prospectus or by writing to its
unit investment trust office. We may remove and replace the trustee in some
cases without your consent. The trustee may also resign by notifying us and
investors.

HOW WE DISTRIBUTE UNITS. We sell units to the public through broker-dealers
and other firms. We pay part of the sales fee to these distribution firms when
they sell units. During the initial offering period, the distribution fee (the
broker-dealer concession or agency commission) for broker-dealers and other
firms is as follows:

TRANSACTION CONCESSION OR
AMOUNT: AGENCY COMMISSION:
------------------------------------------

Less than $50,000 2.25%
$50,000 - $99,999 2.00
$100,000 - $249,999 1.75
$250,000 - $499,999 1.50
$500,000 - $999,999 1.25
$1,000,000 or more 0.70

We apply these concessions or agency commissions as a percent of the public
offering price per unit at the time of the transaction. The broker-dealer
concession or agency commission is

24 Understanding Your Investment

65% of the sales fee for secondary market sales. For transactions involving
unitholders of other unit investment trusts who use their redemption or
termination proceeds to purchase units of the trust, the distribution fee is
1.30% of the public offering price per unit. No distribution fee is paid to
broker-dealers or other selling firms in connection with unit sales in Fee
Accounts subject to a Wrap Fee.

Broker-dealers and other firms that sell units of certain unit investment
trusts for which AAM acts as sponsor are eligible to receive additional
compensation for volume sales. The sponsor offers two separate volume
concession structures for certain trusts that are referred to as "Volume
Concession A" and "Volume Concession B." The trust offered in this prospectus
is a Volume Concession A trust. Broker-dealers and other firms that sell units
of any Volume Concession A trust are eligible to receive the additional
compensation described below. Such payments will be in addition to the regular
concessions paid to firms as set forth in the applicable trust's prospectus.
The additional concession is based on total initial offering period sales of all
Volume Concession A trusts during a calendar quarter as set forth in the
following table:

INITIAL OFFERING PERIOD SALES VOLUME
DURING CALENDAR QUARTER CONCESSION
---------------------------------------------------------

Less than $10,000,000 0.000%
$10,000,000 but less than $25,000,000 0.050
$25,000,000 but less than $50,000,000 0.100
$50,000,000 but less than $100,000,000 0.110
$100,000,000 but less than $250,000,000 0.125
$250,000,000 but less than $500,000,000 0.135
$500,000,000 or more 0.150

This volume concession will be paid on units of all Volume Concession A
trusts sold in the initial offering period, except as described below. For a
trust to be eligible for this additional Volume Concession A compensation for
calendar quarter sales, the trust's prospectus must include disclosure related
to this additional Volume Concession A compensation; a trust is not eligible for
this additional Volume Concession A compensation if the prospectus for such
trust does not include disclosure related to this additional Volume Concession A
compensation. Broker-dealer firms will not receive additional compensation
unless they sell at least $10.0 million of units of Volume Concession A trusts
during a calendar quarter. For example, if a firm sells $9.5 million of units
of Volume Concession A trusts in the initial offering period during a calendar
quarter, the firm will not receive any additional compensation with respect to
such trusts. Once a firm reaches a particular breakpoint during a quarter, the
firm will receive the stated volume concession on all initial offering period
sales of Volume Concession A trusts during the applicable quarter. For example,
if a firm sells $12.5 million of units of Volume Concession A trusts in the
initial offering period during a calendar quarter, the firm will receive
additional compensation of 0.05% of $12.5 million and if a firm sells $27.0
million of units of Volume Concession A trusts in the initial offering period
during a calendar quarter, the firm will receive additional compensation of
0.100% of $27.0 million.

In addition, dealer firms will not receive volume concessions on the sale of
units which are not subject to a transactional sales charge. However, such
sales will be included in determining whether a firm has met the sales level
breakpoints for volume concessions. Secondary market sales of all unit trusts
are excluded for purposes of these volume concessions. We will pay these
amounts out of our own assets within a reasonable time following each calendar
quarter.

Understanding Your Investment 25

Any sales fee discount is borne by the broker-dealer or selling firm out of
the distribution fee. We reserve the right to change the amount of concessions
or agency commissions from time to time.

We currently provide, at our own expense and out of our own profits,
additional compensation and benefits to broker-dealers who sell units of this
trust and our other products. This compensation is intended to result in
additional sales of our products and/or compensate broker-dealers and financial
advisors for past sales. A number of factors are considered in determining
whether to pay these additional amounts. Such factors may include, but are not
limited to, the level or type of services provided by the intermediary, the
level or expected level of sales of our products by the intermediary or its
agents, the placing of our products on a preferred or recommended product list
and access to an intermediary's personnel. We may make these payments for
marketing, promotional or related expenses, including, but not limited to,
expenses of entertaining retail customers and financial advisors, advertising,
sponsorship of events or seminars, obtaining information about the breakdown of
unit sales among an intermediary's representatives or offices, obtaining shelf
space in broker-dealer firms and similar activities designed to promote the sale
of our products. We make such payments to a substantial majority of
intermediaries that sell our products. We may also make certain payments to, or
on behalf of, intermediaries to defray a portion of their costs incurred for the
purpose of facilitating unit sales, such as the costs of developing or
purchasing trading systems to process unit trades. Payments of such additional
compensation described in this paragraph and the volume concessions described
above, some of which may be characterized as "revenue sharing," may create an
incentive for financial intermediaries and their agents to sell or recommend our
products, including this trust, over other products. These arrangements will
not change the price you pay for your units.

We generally register units for sale in various states in the U.S. We do not
register units for sale in any foreign country. This prospectus does not
constitute an offer of units in any state or country where units cannot be
offered or sold lawfully. We may reject any order for units in whole or in
part.

We may gain or lose money when we hold units in the primary or secondary
market due to fluctuations in unit prices. The gain or loss is equal to the
difference between the price we pay for units and the price at which we sell or
redeem them. We may also gain or lose money when we deposit securities to
create units. The amount of our profit or loss on the initial deposit of
securities into the trust is shown in the "Notes to Portfolio."

TAXES

This section summarizes some of the main U.S. federal income tax consequences
of owning units of the trust. This section is current as of the date of this
prospectus. Tax laws and interpretations change frequently, and these summaries
do not describe all of the tax consequences to all taxpayers. For example,
these summaries generally do not describe your situation if you are a
corporation, a non-U.S. person, a broker/dealer, or other investor with special
circumstances. In addition, this section does not describe your state, local or
foreign tax consequences.

This federal income tax summary is based in part on the advice of counsel to
the sponsor. The Internal Revenue Service could disagree with any conclusions
set forth in this section. In addition,

26 Understanding Your Investment

our counsel was not asked to review, and has not reached a conclusion with
respect to the federal income tax treatment of the assets to be deposited in the
trust. This may not be sufficient for you to use for the purpose of avoiding
penalties under federal tax law.

As with any investment, you should seek advice based on your individual
circumstances from your own tax advisor.

TRUST STATUS. The trust intends to qualify as a "regulated investment
company" under the federal tax laws. If the trust qualifies as a regulated
investment company and distributes its income as required by the tax law, the
trust generally will not pay federal income taxes.

DISTRIBUTIONS. Trust distributions are generally taxable. After the end of
each year, you will receive a tax statement that separates your trust's
distributions into three categories, ordinary income distributions, capital
gains dividends and return of capital. Ordinary income distributions are
generally taxed at your ordinary tax rate, however, as further discussed below,
certain ordinary income distributions received from the trust may be taxed at
the capital gains tax rates. Generally, you will treat all capital gains
dividends as long-term capital gains regardless of how long you have owned your
units. To determine your actual tax liability for your capital gains dividends,
you must calculate your total net capital gain or loss for the tax year after
considering all of your other taxable transactions, as described below. In
addition, the trust may make distributions that represent a return of capital
for tax purposes and thus will generally not be taxable to you. The tax status
of your distributions from your trust is not affected by whether you reinvest
your distributions in additional units or receive them in cash. The income from
your trust that you must take into account for federal income tax purposes is
not reduced by amounts used to pay a deferred sales fee, if any. The tax laws
may require you to treat distributions made to you in January as if you had
received them on December 31 of the previous year. Under the "Health Care and
Education Reconciliation Act of 2010," income from the trust may also be
subject to a new 3.8 percent "medicare tax" imposed for taxable years beginning
after 2012. This tax will generally apply to your net investment income if your
adjusted gross income exceeds certain threshold amounts, which are $250,000 in
the case of married couples filing joint returns and $200,000 in the case of
single individuals.

DIVIDENDS RECEIVED DEDUCTION. A corporation that owns units generally will
not be entitled to the dividends received deduction with respect to many
dividends received from the trust because the dividends received deduction is
generally not available for distributions from regulated investment companies.
However, certain ordinary income dividends on units that are attributable to
qualifying dividends received by the trust from certain corporations may be
designated by the trust as being eligible for the dividends received deduction.

SALE OR REDEMPTION OF UNITS. If you sell or redeem your units, you will
generally recognize a taxable gain or loss. To determine the amount of this
gain or loss, you must subtract your tax basis in your units from the amount you
receive in the transaction. Your tax basis in your units is generally equal to
the cost of your units, generally including sales charges. In some cases,
however, you may have to adjust your tax basis after you purchase your units.

CAPITAL GAINS AND LOSSES AND CERTAIN ORDINARY INCOME DIVIDENDS. If you are
an individual, the maximum marginal federal tax rate for net capital

Understanding Your Investment 27

gain is generally 20% for taxpayers in the 39.6% tax bracket, 15% for taxpayers
in the 25%, 28%, 33% and 35% tax brackets and 0% for taxpayers in the 10% and
15% tax brackets.

Net capital gain equals net long-term capital gain minus net short-term
capital loss for the taxable year. Capital gain or loss is long-term if the
holding period for the asset is more than one year and is short-term if the
holding period for the asset is one year or less. You must exclude the date you
purchase your units to determine your holding period. However, if you receive a
capital gain dividend from your trust and sell your unit at a loss after holding
it for six months or less, the loss will be recharacterized as long-term capital
loss to the extent of the capital gain dividend received. The tax rates for
capital gains realized from assets held for one year or less are generally the
same as for ordinary income. The Internal Revenue Code treats certain capital
gains as ordinary income in special situations.

Ordinary income dividends received by an individual unitholder from a
regulated investment company such as the trust are generally taxed at the same
rates that apply to net capital gain (as discussed above), provided certain
holding period requirements are satisfied and provided the dividends are
attributable to qualifying dividends received by the trust itself. The trust
will provide notice to its unitholders of the amount of any distribution which
may be taken into account as a dividend which is eligible for the capital gains
tax rates.

IN-KIND DISTRIBUTIONS. Under certain circumstances, as described in this
prospectus, you may receive an in-kind distribution of trust securities when you
redeem units or when your trust terminates. This distribution will be treated
as a sale for federal income tax purposes and you will generally recognize gain
or loss, generally based on the value at that time of the securities and the
amount of cash received. The Internal Revenue Service could however assert that
a loss could not be currently deducted.

EXCHANGES. If you elect to have your proceeds from your trust rolled over
into a future trust, the exchange would generally be considered a sale for
federal income tax purposes.

DEDUCTIBILITY OF TRUST EXPENSES. Expenses incurred and deducted by your
trust will generally not be treated as income taxable to you. In some cases,
however, you may be required to treat your portion of these trust expenses as
income. In these cases you may be able to take a deduction for these expenses.
However, certain miscellaneous itemized deductions, such as investment expenses,
may be deducted by individuals only to the extent that all of these deductions
exceed 2% of the individual's adjusted gross income. Some individuals may also
be subject to further limitations on the amount of their itemized deductions,
depending on their income.

FOREIGN TAX CREDIT. If your trust invests in any foreign securities, the tax
statement that you receive may include an item showing foreign taxes your trust
paid to other countries. In this case, dividends taxed to you will include your
share of the taxes your trust paid to other countries. You may be able to
deduct or receive a tax credit for your share of these taxes.

INVESTMENTS IN CERTAIN FOREIGN CORPORATIONS. If the trust holds an equity
interest in any "passive foreign investment companies" ("PFICs"), which are
generally certain foreign corporations that receive at least 75% of their annual
gross income from passive sources (such as interest, dividends, certain rents
and royalties or capital

28 Understanding Your Investment

gains) or that hold at least 50% of their assets in investments producing such
passive income, the trust could be subject to U.S. federal income tax and
additional interest charges on gains and certain distributions with respect to
those equity interests, even if all the income or gain is timely distributed to
its unitholders. The trust will not be able to pass through to its unitholders
any credit or deduction for such taxes. The trust may be able to make an
election that could ameliorate these adverse tax consequences. In this case,
the trust would recognize as ordinary income any increase in the value of such
PFIC shares, and as ordinary loss any decrease in such value to the extent it
did not exceed prior increases included in income. Under this election, the
trust might be required to recognize in a year income in excess of its
distributions from PFICs and its proceeds from dispositions of PFIC stock during
that year, and such income would nevertheless be subject to the distribution
requirement and would be taken into account for purposes of the 4% excise tax.
Dividends paid by PFICs will not be treated as qualified dividend income.

FOREIGN INVESTORS. If you are a foreign investor (i.e., an investor other
than a U.S. citizen or resident or a U.S. corporation, partnership, estate or
trust), you should be aware that, generally, subject to applicable tax treaties,
distributions from the trust will be characterized as dividends for federal
income tax purposes (other than dividends which the trust properly reports as
capital gain dividends) and will be subject to U.S. income taxes, including
withholding taxes, subject to certain exceptions described below. However,
distributions received by a foreign investor from the trust that are properly
reported by the trust as capital gain dividends may not be subject to U.S.
federal income taxes, including withholding taxes, provided that the trust makes
certain elections and certain other conditions are met. In the case of
dividends with respect to taxable years of the trust beginning prior to 2014,
distributions from the trust that are properly reported by the trust as an
interest-related dividend attributable to certain interest income received by
the trust or as a short-term capital gain dividend attributable to certain net
short-term capital gain income received by the trust may not be subject to U.S.
federal income taxes, including withholding taxes when received by certain
foreign investors, provided that the trust makes certain elections and certain
other conditions are met. In addition, distributions in respect of shares after
December 31, 2013 may be subject to a U.S. withholding tax of 30% in the case of
distributions to (i) certain non-U.S. financial institutions that have not
entered into an agreement with the U.S. Treasury to collect and disclose certain
information and are not resident in a jurisdiction that has entered into such an
agreement with the U.S. Treasury and (ii) certain other non-U.S. entities that
do not provide certain certifications and information about the entity's U.S.
owners. Dispositions of units by such persons may be subject to such
withholding after December 31, 2016. You should also consult your tax advisor
with respect to other U.S. tax withholding and reporting requirements.

EXPENSES

Your trust will pay various expenses to conduct its operations. The "Fees
and Expenses" section of the "Investment Summary" in this prospectus shows the
estimated amount of these expenses.

The sponsor will receive a fee from your trust for creating and developing
the trust, including determining the trust's objectives, policies, composition
and size, selecting service providers and information services and for providing
other similar administrative and ministerial functions. This "creation and
development

Understanding Your Investment 29

fee" is a charge of $0.05 per unit. The trustee will deduct this amount from
your trust's assets as of the close of the initial offering period. No portion
of this fee is applied to the payment of distribution expenses or as
compensation for sales efforts. This fee will not be deducted from proceeds
received upon a repurchase, redemption or exchange of units before the close of
the initial public offering period.

Your trust will pay a fee to the trustee for its services. The trustee also
benefits when it holds cash for your trust in non-interest bearing accounts.
Your trust will reimburse us as supervisor, evaluator and sponsor for providing
portfolio supervisory services, for evaluating your portfolio and for providing
bookkeeping and administrative services. Our reimbursements may exceed the
costs of the services we provide to your trust but will not exceed the costs of
services provided to all of our unit investment trusts in any calendar year.
All of these fees may adjust for inflation without your approval.

Your trust will also pay its general operating expenses. Your trust may pay
expenses such as trustee expenses (including legal and auditing expenses),
various governmental charges, fees for extraordinary trustee services, costs of
taking action to protect your trust, costs of indemnifying the trustee and the
sponsor, legal fees and expenses, expenses incurred in contacting you and costs
incurred to reimburse the trustee for advancing funds to meet distributions.
Your trust will pay a license fee to The NASDAQ OMX Group, Inc. for the use of
the NASDAQ Q-50 Index(SM) and related data and trademarks/service marks. Your
trust may pay the costs of updating its registration statement each year. The
trustee will generally pay trust expenses from distributions received on the
securities but in some cases may sell securities to pay trust expenses.

EXPERTS

LEGAL MATTERS. Chapman and Cutler LLP acts as counsel for the trust and has
given an opinion that the units are validly issued. Dorsey & Whitney LLP acts
as counsel for the trustee.

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM. Grant Thornton LLP,
independent registered public accounting firm, audited the statement of
financial condition and the portfolio included in this prospectus.

ADDITIONAL INFORMATION

This prospectus does not contain all the information in the registration
statement that your trust filed with the Securities and Exchange Commission.
The Information Supplement, which was filed with the Securities and Exchange
Commission, includes more detailed information about the securities in your
portfolio, investment risks and general information about your trust. You can
obtain the Information Supplement by contacting us or the Securities and
Exchange Commission as indicated on the back cover of this prospectus. This
prospectus incorporates the Information Supplement by reference (it is legally
considered part of this prospectus).

30 Understanding Your Investment

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

UNITHOLDERS
ADVISORS DISCIPLINED TRUST 1006

We have audited the accompanying statement of financial condition, including the
trust portfolio on pages 4 through 7, of Advisors Disciplined Trust 1006, as of
April 5, 2013, the initial date of deposit. The statement of financial
condition is the responsibility of the trust's sponsor. Our responsibility is
to express an opinion on this statement of financial condition based on our
audit.

We conducted our audit in accordance with auditing standards of the Public
Company Accounting Oversight Board (United States). Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the statement of financial condition is free of material misstatement. The
trust is not required to have, nor were we engaged to perform an audit of its
internal control over financial reporting. Our audit included consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the trust's internal control over
financial reporting. Accordingly, we express no such opinion. An audit also
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the statement of financial condition, assessing the accounting
principles used and significant estimates made by the sponsor, as well as
evaluating the overall statement of financial condition presentation. Our
procedures included confirmation with The Bank of New York Mellon, trustee, of
cash or an irrevocable letter of credit deposited for the purchase of securities
as shown in the statement of financial condition as of April 5, 2013. We
believe that our audit of the statement of financial condition provides a
reasonable basis for our opinion.

In our opinion, the statement of financial condition referred to above presents
fairly, in all material respects, the financial position of Advisors Disciplined
Trust 1006 as of April 5, 2013, in conformity with accounting principles
generally accepted in the United States of America.

Chicago, Illinois GRANT THORNTON LLP
April 5, 2013

ADVISORS DISCIPLINED TRUST 1006

STATEMENT OF FINANCIAL CONDITION AS OF APRIL 5, 2013

-----------------------------------------------------------------------------------------------------------

INVESTMENT IN SECURITIES
Contracts to purchase underlying securities (1)(2) . . . . . . . . . . . . . . . . . . . . . . $ 148,718
----------
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 148,718
==========

LIABILITIES AND INTEREST OF INVESTORS
Liabilities:
Organization costs (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 751
Deferred sales fee (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,178
Creation and development fee (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 751
----------
3,680
----------

Interest of investors:
Cost to investors (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,220
Less: initial sales fee (4)(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,502
Less: deferred sales fee, creation and development fee and organization costs (3)(4)(5) . . 3,680
----------
Net interest of investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145,038
----------
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 148,718
==========

Number of units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,022
==========

Net asset value per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9.655
==========

<FN>
(1) Aggregate cost of the securities is based on the closing sale price
evaluations as determined by the evaluator.
(2) Cash or an irrevocable letter of credit has been deposited with the trustee
covering the funds (aggregating $200,000) necessary for the purchase of
securities in the trust represented by purchase contracts.
(3) A portion of the public offering price represents an amount sufficient to
pay for all or a portion of the costs incurred in establishing the trust.
These costs have been estimated at $0.05 per unit for the trust. A
distribution will be made as of the earlier of the close of the initial
offering period or six months following the trust's inception date to an
account maintained by the trustee from which this obligation of the
investors will be satisfied. To the extent the actual organization costs
are greater than the estimated amount, only the estimated organization
costs added to the public offering price will be reimbursed to the sponsor
and deducted from the assets of the trust.
(4) The total sales fee consists of an initial sales fee, a deferred sales fee
and a creation and development fee. The initial sales fee is equal to the
difference between the maximum sales fee and the sum of the remaining
deferred sales fee and the total creation and development fee. The maximum
sales fee is 2.95% of the public offering price per unit. The deferred
sales fee is equal to $0.145 per unit and the creation and development fee
is equal to $0.05 per unit.
(5) The aggregate cost to investors includes the applicable sales fee assuming
no reduction of sales fees.
</FN>

Understanding Your Investment 31

CONTENTS

INVESTMENT SUMMARY
-------------------------------------------------------------------

A concise description 2 Investment Objective
of essential information 2 Principal Investment Strategy
about the portfolio 2 Principal Risks
3 Who Should Invest
3 Essential Information
3 Fees and Expenses
4 Portfolio

UNDERSTANDING YOUR INVESTMENT
-------------------------------------------------------------------

Detailed information to 8 Security Selection
help you understand 11 How to Buy Units
your investment 15 How to Sell Your Units
17 Distributions
18 Investment Risks
20 Hypothetical Performance
Information
22 How the Trust Works
26 Taxes
29 Expenses
30 Experts
30 Additional Information
31 Report of Independent Registered
Public Accounting Firm
31 Statement of Financial Condition

WHERE TO LEARN MORE
-------------------------------------------------------------------

You can contact us for VISIT US ON THE INTERNET
free information about http://www.AAMportfolios.com
this and other investments, BY E-MAIL
including the Information info@AAMportfolios.com
Supplement CALL ADVISORS ASSET
MANAGEMENT, INC.
(877) 858-1773
CALL THE BANK OF NEW YORK MELLON
(800) 848-6468

ADDITIONAL INFORMATION
-------------------------------------------------------------------

This prospectus does not contain all information filed with the
Securities and Exchange Commission. To obtain or copy this
information including the Information Supplement (a duplication
fee may be required):

E-MAIL: publicinfo@sec.gov
WRITE: Public Reference Section
Washington, D.C. 20549
VISIT: http://www.sec.gov
(EDGAR Database)
CALL: 1-202-551-8090
(only for information on the operation of the
Public Reference Section)

REFER TO:
ADVISORS DISCIPLINED TRUST 1006

Securities Act file number: 333-186288

Investment Company Act file number: 811-21056

STRATEGIC HIGH 50(R)/Q-50

DIVIDEND AND GROWTH
PORTFOLIO,
SERIES 2013-2Q

PROSPECTUS

APRIL 5, 2013

[LOGO]

AAM

ADVISORS
ASSET MANAGEMENT

ADVISORS DISCIPLINED TRUST 1006

STRATEGIC HIGH 50(R)/Q-50 DIVIDEND AND GROWTH PORTFOLIO, SERIES 2013-2Q

INFORMATION SUPPLEMENT

This Information Supplement provides additional information concerning each
trust described in the prospectus for the Advisors Disciplined Trust series
identified above. This Information Supplement should be read in conjunction
with the prospectus. It is not a prospectus. It does not include all of the
information that an investor should consider before investing in a trust. It
may not be used to offer or sell units of a trust without the prospectus. This
Information Supplement is incorporated into the prospectus by reference and has
been filed as part of the registration statement with the Securities and
Exchange Commission. Investors should obtain and read the prospectus prior to
purchasing units of a trust. You can obtain the prospectus without charge by
contacting your financial professional or by contacting the unit investment
trust division of Advisors Asset Management, Inc. at 18925 Base Camp Road, Suite
203, Monument, Colorado 80132, at 8100 East 22nd Street North, Building 800,
Suite 102, Wichita, Kansas 67226 or by calling (877) 858-1773. This Information
Supplement is dated as of the date of the prospectus.

CONTENTS

General Information 2
Investment Objective and Policies 3
Risk Factors 5
Administration of the Trust 6
Portfolio Transactions and Brokerage Allocation 15
Purchase, Redemption and Pricing of Units 15
Taxation 20
Performance Information 22

GENERAL INFORMATION

Each trust is one of a series of separate unit investment trusts created
under the name Advisors Disciplined Trust and registered under the Investment
Company Act of 1940. Each trust was created as a common law trust on the
inception date described in the prospectus under the laws of the state of
New York. Each trust was created under a trust agreement among Advisors Asset
Management, Inc. (as sponsor, evaluator and supervisor) and The Bank of New York
Mellon (as trustee).

When your trust was created, the sponsor delivered to the trustee
securities or contracts for the purchase thereof for deposit in the trust and
the trustee delivered to the sponsor documentation evidencing the ownership of
units of the trust. At the close of the New York Stock Exchange on the trust's
inception date, the number of units may be adjusted so that the public offering
price per unit equals $10. The number of units, fractional interest of each
unit in the trust and estimated interest distributions per unit will increase or
decrease to the extent of any adjustment. Additional units of each trust may be
issued from time to time by depositing in the trust additional securities (or
contracts for the purchase thereof together with cash or irrevocable letters of
credit) or cash (including a letter of credit or the equivalent) with
instructions to purchase additional securities. As additional units are issued
by a trust as a result of the deposit of additional securities by the sponsor,
the aggregate value of the securities in the trust will be increased and the
fractional undivided interest in the trust represented by each unit will be
decreased. The sponsor may continue to make additional deposits of securities
into a trust, provided that such additional deposits will be in amounts, which
will generally maintain the existing relationship among the shares of the
securities in such trust. Thus, although additional units will be issued, each
unit will generally continue to represent the same number of shares of each
security. If the sponsor deposits cash to purchase additional securities,
existing and new investors may experience a dilution of their investments and a
reduction in their anticipated income because of fluctuations in the prices of
the securities between the time of the deposit and the purchase of the
securities and because the trust will pay any associated brokerage fees.

The trustee has not participated in the selection of the securities
deposited in the trust and has no responsibility for the composition of the
trust portfolio.

Each unit initially offered represents an undivided interest in the related
trust. To the extent that any units are redeemed by the trustee or additional
units are issued as a result of additional securities being deposited by the
sponsor, the fractional undivided interest in a trust represented by each
unredeemed unit will increase or decrease accordingly, although the actual
interest in such trust represented by such fraction will remain unchanged.
Units will remain outstanding until redeemed upon tender to the trustee by
unitholders, which may include the sponsor, or until the termination of the
trust agreement.

A trust consists of (a) the securities listed under "Portfolio" in the
prospectus as may continue to be held from time to time in the trust, (b) any
additional securities acquired and held by the trust pursuant to the provisions
of the trust agreement and (c) any cash held in the accounts of the trust.
Neither the sponsor nor the trustee shall be liable in any way for any failure
in any of the securities. However, should any contract for the purchase of any
of the securities initially

-2-

deposited in a trust fail, the sponsor will, unless substantially all of the
moneys held in the trust to cover such purchase are reinvested in substitute
securities in accordance with the trust agreement, refund the cash and sales fee
attributable to such failed contract to all unitholders on the next distribution
date.

INVESTMENT OBJECTIVE AND POLICIES

The trust seeks to provide above average income and potential for growth by
investing in a portfolio of stocks selected using a strategy as described in the
prospectus. There is, of course, no guarantee that the trust will achieve its
objective. The prospectus provides additional information regarding the trust's
objective and investment strategy.

The trust is a unit investment trust and is not an "actively managed" fund.
Traditional methods of investment management for a managed fund typically
involve frequent changes in a portfolio of securities on the basis of economic,
financial and market analysis. The portfolio of a trust, however, will not be
actively managed and therefore the adverse financial condition of an issuer will
not necessarily require the sale of its securities from a portfolio.

The sponsor may not alter the portfolio of a trust by the purchase, sale or
substitution of securities, except in special circumstances as provided in the
trust agreement. Thus, the assets of a trust will generally remain unchanged
under normal circumstances. The trust agreement provides that the sponsor may
(but need not) direct the trustee to dispose of a security in certain events
such as the issuer having defaulted on the payment on any of its outstanding
obligations or the price of a security has declined to such an extent or other
such credit factors exist so that in the opinion of the supervisor the retention
of such securities would be detrimental to the trust.

If a public tender offer has been made for a security or a merger,
acquisition or similar transaction has been announced affecting a security, the
trustee may either sell the security or accept a tender offer if the supervisor
determines that the action is in the best interest of unitholders. The trustee
will distribute any excess cash proceeds to unitholders. If your trust receives
securities or other property, it will either hold the securities or property in
the portfolio or sell the securities or property and distribute the proceeds.
The sponsor may direct the reinvestment of security sale proceeds if the sale is
the direct result of serious adverse credit factors which, in the opinion of the
sponsor, would make retention of the securities detrimental to the trust. In
such a case, the sponsor may, but is not obligated to, direct the reinvestment
of sale proceeds in any other securities that meet the criteria for inclusion in
the trust on the trust's inception date. The sponsor may also instruct the
trustee to take action necessary to ensure that the portfolio continues to
satisfy the qualifications of a regulated investment company for federal tax
purposes if the trust has elected to be taxed as a regulated investment company.

The trustee may sell securities, designated by the supervisor, from a trust
for the purpose of redeeming units of such trust tendered for redemption and the
payment of expenses.

In addition, if a trust has elected to be taxed as a regulated investment
company, the trustee may dispose of certain securities and take such further
action as may be needed from time to time to ensure that a trust continues to
satisfy the qualifications of a regulated investment

-3-

company, including the requirements with respect to diversification under
Section 851 of the Internal Revenue Code, and as may be needed from time to time
to avoid the imposition of any tax on a trust or undistributed income of a trust
as a regulated investment company.

Proceeds from the sale of securities (or any securities or other property
received by a trust in exchange for securities) are credited to the Capital
Account of a trust for distribution to unitholders or to meet redemptions.
Except for failed securities and as provided herein, in the prospectus or in the
trust agreement, the acquisition by a trust of any securities other than the
portfolio securities is prohibited.

Because certain of the securities in certain of the trusts may from time to
time under certain circumstances be sold or otherwise liquidated and because the
proceeds from such events will be distributed to unitholders and will not be
reinvested, no assurance can be given that a trust will retain for any length of
time its present size and composition. Neither the sponsor nor the trustee
shall be liable in any way for any default, failure or defect in any security.
In the event of a failure to deliver any security that has been purchased for a
trust under a contract ("Failed Securities"), the sponsor is authorized under
the trust agreement to direct the trustee to acquire other securities
("Replacement Securities") to make up the original corpus of such trust.

The Replacement Securities must be purchased within 20 days after delivery
of the notice that a contract to deliver a security will not be honored and the
purchase price may not exceed the amount of funds reserved for the purchase of
the Failed Securities. The Replacement Securities must be equity securities of
the type selected for the trust and must not adversely affect the federal income
tax status of the trust. Whenever a Replacement Security is acquired for a
trust, the trustee shall notify all unitholders of the trust of the acquisition
of the Replacement Security and shall, on the next monthly distribution date
which is more than 30 days thereafter, make a pro rata distribution of the
amount, if any, by which the cost to the trust of the Failed Security exceeded
the cost of the Replacement Security. Once all of the securities in a trust are
acquired, the trustee will have no power to vary the investments of the trust,
i.e., the trustee will have no managerial power to take advantage of market
variations to improve a unitholder's investment.

If the right of limited substitution described in the preceding paragraphs
is not utilized to acquire Replacement Securities in the event of a failed
contract, the sponsor will refund the sales fee attributable to such Failed
Securities to all unitholders of the trust and the trustee will distribute the
cash attributable to such Failed Securities not more than 30 days after the date
on which the trustee would have been required to purchase a Replacement
Security. In addition, unitholders should be aware that, at the time of receipt
of such cash, they may not be able to reinvest such proceeds in other securities
at a return equal to or in excess of the return which such proceeds would have
earned for unitholders of such trust.

In the event that a Replacement Security is not acquired by a trust, the
income for such trust may be reduced.

To the best of the sponsor's knowledge, there is no litigation pending as
of the trust's inception in respect of any security that might reasonably be
expected to have a material adverse effect on the trust. At any time after the
trust's inception, litigation may be instituted on a variety

-4-

of grounds with respect to the securities. The sponsor is unable to predict
whether any such litigation may be instituted, or if instituted, whether such
litigation might have a material adverse effect on the trust. The sponsor and
the trustee shall not be liable in any way for any default, failure or defect in
any security.

RISK FACTORS

MARKET RISK. Because the trust invests in stocks, you should understand
the risks of investing in stocks before purchasing units. These risks include
the risk that the financial condition of the company or the general condition of
the stock market may worsen and the value of the stocks (and therefore units)
will fall. Stocks are especially susceptible to general stock market movements.
The value of stocks often rises or falls rapidly and unpredictably as market
confidence and perceptions of companies change. These perceptions are based on
factors including expectations regarding government economic policies,
inflation, interest rates, economic expansion or contraction, political climates
and economic or banking crises. The value of units will fluctuate with the
value of the stocks in the trust and may be more or less than the price you
originally paid for your units. As with any investment, we cannot guarantee
that the performance of the trust will be positive over any period of time.
Because the trust is unmanaged, the Trustee will not sell stocks in response to
market fluctuations as is common in managed investments. In addition, because
some trusts hold a relatively small number of stocks, you may encounter greater
market risk than in a more diversified investment.

DIVIDENDS. Stocks represent ownership interests in a company and are not
obligations of the company. Common stockholders have a right to receive
payments from the company that is subordinate to the rights of creditors,
bondholders or preferred stockholders of the company. This means that common
stockholders have a right to receive dividends only if a company's board of
directors declares a dividend and the company has provided for payment of all of
its creditors, bondholders and preferred stockholders. If a company issues
additional debt securities or preferred stock, the owners of these securities
will have a claim against the company's assets before common stockholders if the
company declares bankruptcy or liquidates its assets even though the common
stock was issued first. As a result, the company may be less willing or able to
declare or pay dividends on its common stock.

CONSUMER PRODUCTS AND SERVICES ISSUERS. The trust may invest significantly
in issuers that manufacture or sell consumer products and/or services. The
profitability of these companies will be affected by various factors including
the general state of the economy and consumer spending trends. In the past,
there have been major changes in the retail environment due to the declaration
of bankruptcy by some of the major corporations involved in the retail industry,
particularly the department store segment. The continued viability of the retail
industry will depend on the industry's ability to adapt and to compete in
changing economic and social conditions, to attract and retain capable
management, and to finance expansion. Weakness in the banking or real estate
industry, a recessionary economic climate with the consequent slowdown in
employment growth, less favorable trends in unemployment or a marked
deceleration in real disposable personal income growth could result in
significant pressure on both consumer wealth and consumer confidence, adversely
affecting consumer spending habits. In addition, competitiveness of the retail
industry will require large capital outlays for investment in the

-5-

installation of automated checkout equipment to control inventory, to track the
sale of individual items and to gauge the success of sales campaigns. Increasing
employee and retiree benefit costs may also have an adverse effect on the
industry. In many sectors of the retail industry, competition may be fierce due
to market saturation, converging consumer tastes and other factors. Because of
these factors and the recent increase in trade opportunities with other
countries, American retailers are now entering global markets which entail added
risks such as sudden weakening of foreign economies, difficulty in adapting to
local conditions and constraints and added research costs.

ADDITIONAL DEPOSITS. The trust agreement authorizes the sponsor to
increase the size of a trust and the number of units thereof by the deposit of
additional securities, or cash (including a letter of credit or the equivalent)
with instructions to purchase additional securities, in such trust and the
issuance of a corresponding number of additional units. In connection with
these deposits, existing and new investors may experience a dilution of their
investments and a reduction in their anticipated income because of fluctuations
in the prices of the securities between the time of the deposit and the purchase
of the securities and because a trust will pay the associated brokerage fees and
other acquisition costs.

ADMINISTRATION OF THE TRUST

DISTRIBUTIONS TO UNITHOLDERS. Income received by a trust is credited by
the trustee to the Income Account for the trust. All other receipts are
credited by the trustee to a separate Capital Account for the trust. The
trustee will normally distribute any income received by a trust on each
distribution date or shortly thereafter to unitholders of record on the
preceding record date. The trust will also generally make required distributions
or distributions to avoid imposition of tax at the end of each year if it has
elected to be taxed as a "regulated investment company" for federal tax
purposes. Unitholders will receive an amount substantially equal to their pro
rata share of the estimated net annual income distributions to be received by
the trust. All distributions will be net of applicable expenses. There is no
assurance that any actual distributions will be made since all dividends
received may be used to pay expenses. In addition, excess amounts from the
Capital Account of a trust, if any, will be distributed at least annually to the
unitholders then of record. Proceeds received from the disposition of any of
the securities after a record date and prior to the following distribution date
will be held in the Capital Account and not distributed until the next
distribution date applicable to the Capital Account. The trustee shall be
required to make a distribution from the Capital Account if the cash balance on
deposit therein available for distribution shall be sufficient to distribute at
least $1.00 per unit. The trustee is not required to pay interest on funds held
in the Capital or Income Accounts (but may itself earn interest thereon and
therefore benefits from the use of such funds).

The distribution to the unitholders as of each record date will be made on
the following distribution date or shortly thereafter and shall consist of an
amount substantially equal to such portion of the unitholders' pro rata share of
the estimated annual income distributions to be received by the trust after
deducting estimated expenses. Because dividends are not received by a trust at
a constant rate throughout the year, such distributions to unitholders are
expected to fluctuate. Persons who purchase units will commence receiving
distributions only after such person becomes a record owner. A person will
become the owner of units, and thereby a

-6-

unitholder of record, on the date of settlement provided payment has been
received. Notification to the trustee of the transfer of units is the
responsibility of the purchaser, but in the normal course of business the
selling broker-dealer provides such notice.

The trustee will periodically deduct from the Income Account of a trust
and, to the extent funds are not sufficient therein, from the Capital Account of
a trust amounts necessary to pay the expenses of the trust. The trustee also
may withdraw from said accounts such amounts, if any, as it deems necessary to
establish a reserve for any governmental charges payable out of a trust.
Amounts so withdrawn shall not be considered a part of a trust's assets until
such time as the trustee shall return all or any part of such amounts to the
appropriate accounts. In addition, the trustee may withdraw from the Income and
Capital Accounts of a trust such amounts as may be necessary to cover
redemptions of units.

DISTRIBUTION REINVESTMENT. Unitholders may reinvest distributions into
additional units of their trust without a sales fee. Your trust will pay any
deferred sales fee and creation and development fee per unit regardless of any
sales fee discounts. However, if you are eligible to receive a discount such
that the sales fee you must pay is less than the applicable deferred sales fee
and creation and development fee, you will be credited the difference between
your sales fee and the deferred sales fee and the creation and development fee
at the time you buy your units. Accordingly, if you reinvest distributions into
additional units of your trust, you will be credited the amount of any remaining
deferred sales fee and creation and development fee on such units at the time of
reinvestment.

STATEMENTS TO UNITHOLDERS. With each distribution, the trustee will
furnish to each unitholder a statement of the amount of income and the amount of
other receipts, if any, which are being distributed, expressed in each case as a
dollar amount per unit.

The accounts of a trust are required to be audited annually, at the related
trust's expense, by independent public accountants designated by the sponsor,
unless the sponsor determines that such an audit would not be in the best
interest of the unitholders of the trust. The accountants' report will be
furnished by the trustee to any unitholder upon written request. Within a
reasonable period of time after the end of each calendar year, the trustee shall
furnish to each person who at any time during the calendar year was a unitholder
of a trust a statement, covering the calendar year, setting forth for the trust:

(A) As to the Income Account:

(1) the amount of income received on the securities (including income
received as a portion of the proceeds of any disposition of
securities);

(2) the amounts paid for purchases of replacement securities or for
purchases of securities otherwise pursuant to the trust
agreement, if any, and for redemptions;

(3) the deductions, if any, from the Income Account for payment into
the Reserve Account;

-7-

(4) the deductions for applicable taxes and fees and expenses of the
trustee, the depositor, the evaluator, the supervisor, counsel,
auditors and any other expenses paid by the trust;

(5) the amounts reserved for purchases of contract securities, for
purchases made pursuant to replace failed contract securities or
for purchases of securities otherwise pursuant to the trust
agreement, if any;

(6) the deductions for payment of the depositor's expenses of
maintaining the registration of the trust units, if any;

(7) the aggregate distributions to unitholders; and

(8) the balance remaining after such deductions and distributions,
expressed both as a total dollar amount and as a dollar amount
per unit outstanding on the last business day of such calendar
year;

(B) As to the Capital Account:

(1) the net proceeds received due to sale, maturity, redemption,
liquidation or disposition of any of the securities, excluding
any portion thereof credited to the Income Account;

(2) the amount paid for purchases of replacement securities or for
purchases of securities otherwise pursuant to the trust
agreement, if any, and for redemptions;

(3) the deductions, if any, from the Capital Account for payments
into the Reserve Account;

(4) the deductions for payment of applicable taxes and fees and
expenses of the trustee, the depositor, the evaluator, the
supervisor, counsel, auditors and any other expenses paid by the
trust;

(5) the deductions for payment of the depositor's expenses of
organizing the trust;

(6) the amounts reserved for purchases of contract securities, for
purchases made pursuant to replace failed contract securities or
for purchases of securities otherwise pursuant to the trust
agreement, if any;

(7) the deductions for payment of deferred sales fee and creation and
development fee, if any;

(8) the deductions for payment of the depositor's expenses of
maintaining the registration of the trust units, if any;

-8-

(9) the aggregate distributions to unitholders; and

(10) the balance remaining after such distributions and deductions,
expressed both as a total dollar amount and as a dollar amount
per unit outstanding on the last business day of such calendar
year; and

(1) a list of the securities held as of the last business day of such
calendar year and a list which identifies all securities sold or
other securities acquired during such calendar year, if any;

(2) the number of units outstanding on the last business day of such
calendar year;

(3) the unit value based on the last trust evaluation of such trust
made during such calendar year; and

(4) the amounts actually distributed during such calendar year from
the Income and Capital Accounts, separately stated, expressed
both as total dollar amounts and as dollar amounts per unit
outstanding on the record dates for such distributions.

RIGHTS OF UNITHOLDERS. A unitholder may at any time tender units to the
trustee for redemption. The death or incapacity of any unitholder will not
operate to terminate a trust nor entitle legal representatives or heirs to claim
an accounting or to bring any action or proceeding in any court for partition or
winding up of a trust. No unitholder shall have the right to control the
operation and management of a trust in any manner, except to vote with respect
to the amendment of the trust agreement or termination of a trust.

AMENDMENT AND TERMINATION. The trust agreement may be amended from time to
time by the sponsor and trustee or their respective successors, without the
consent of any of the unitholders, (i) to cure any ambiguity or to correct or
supplement any provision which may be defective or inconsistent with any other
provision contained in the trust agreement, (ii) to make such other provision in
regard to matters or questions arising under the trust agreement as shall not
materially adversely affect the interests of the unitholders or (iii) to make
such amendments as may be necessary (a) for the trust to continue to qualify as
a regulated investment company for federal income tax purposes if the trust has
elected to be taxed as such under the United States Internal Revenue Code of
1986, as amended, or (b) to prevent the trust from being deemed an association
taxable as a corporation for federal income tax purposes if the trust has not
elected to be taxed as a regulated investment company under the United States
Internal Revenue Code of 1986, as amended. The trust agreement may not be
amended, however, without the consent of all unitholders then outstanding, so as
(1) to permit, except in accordance with the terms and conditions thereof, the
acquisition hereunder of any securities other than those specified in the
schedules to the trust agreement or (2) to reduce the percentage of units the
holders of which are required to consent to certain of such amendments. The
trust agreement may not be amended so

-9-

as to reduce the interest in a trust represented by units without the consent of
all affected unitholders. Except for the amendments, changes or
modifications described above, neither the sponsor nor the trustee may consent
to any other amendment, change or modification of the trust agreement without
the giving of notice and the obtaining of the approval or consent of unitholders
representing at least 66 2/3% of the units then outstanding of the affected
trust. No amendment may reduce the aggregate percentage of units the holders of
which are required to consent to any amendment, change or modification of the
trust agreement without the consent of the unitholders of all of the units then
outstanding of the affected trust and in no event may any amendment be made
which would (1) alter the rights to the unitholders as against each other, (2)
provide the trustee with the power to engage in business or investment
activities other than as specifically provided in the trust agreement, (3)
adversely affect the tax status of the trust for federal income tax purposes or
result in the units being deemed to be sold or exchanged for federal income tax
purposes or (4) unless the trust has elected to be taxed as a regulated
investment company for federal income tax purposes, result in a variation of the
investment of unitholders in the trust. The trustee will notify unitholders of
the substance of any such amendment.

The trust agreement provides that a trust shall terminate upon the
liquidation, redemption or other disposition of the last of the securities held
in the trust but in no event is it to continue beyond the mandatory termination
date. If the value of a trust shall be less than the applicable minimum value
stated in the prospectus (generally 40% of the total value of securities
deposited in the trust during the initial offering period), the trustee may, in
its discretion, and shall, when so directed by the sponsor, terminate the trust.
A trust may be terminated at any time by the holders of units representing 66
2/3% of the units thereof then outstanding. In addition, the sponsor may
terminate a trust if it is based on a security index and the index is no longer
maintained. A trust will be liquidated by the trustee in the event that a
sufficient number of units of the trust not yet sold are tendered for redemption
by the sponsor, so that the net worth of the trust would be reduced to less than
40% of the value of the securities at the time they were deposited in the trust.
If a trust is liquidated because of the redemption of unsold units by the
sponsor, the sponsor will refund to each purchaser of units the entire sales fee
paid by such purchaser.

Beginning nine business days prior to, but no later than, the scheduled
termination date described in the prospectus, the trustee may begin to sell all
of the remaining underlying securities on behalf of unitholders in connection
with the termination of the trust. The sponsor may assist the trustee in these
sales and receive compensation to the extent permitted by applicable law. The
sale proceeds will be net of any incidental expenses involved in the sales.

The sponsor will generally instruct the trustee to sell the securities as
quickly as practicable during the termination proceedings without in its
judgment materially adversely affecting the market price of the securities, but
it is expected that all of the securities will in any event be disposed of
within a reasonable time after a trust's termination. The sponsor does not
anticipate that the period will be longer than one month, and it could be as
short as one day, depending on the liquidity of the securities being sold. The
liquidity of any security depends on the daily trading volume of the security
and the amount that the sponsor has available for sale on any particular day.
Of course, no assurances can be given that the market value of the securities
will not be adversely affected during the termination proceedings.

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Approximately thirty days prior to termination of a trust, the trustee will
notify unitholders of the termination and provide a form allowing qualifying
unitholders to elect an in-kind distribution. A unitholder who owns the minimum
number of units described in the prospectus may request an in-kind distribution
from the trustee instead of cash. The trustee will make an in-kind distribution
through the distribution of each of the securities of the trust in book entry
form to the account of the unitholder's bank or broker-dealer at Depository
Trust Company. The unitholder will be entitled to receive whole shares of each
of the securities comprising the portfolio of a trust and cash from the Capital
Account equal to the fractional shares to which the unitholder is entitled. The
trustee may adjust the number of shares of any security included in a
unitholder's in-kind distribution to facilitate the distribution of whole
shares. The sponsor may terminate the in-kind distribution option at any time
upon notice to the unitholders. Special federal income tax consequences will
result if a unitholder requests an in-kind distribution.

Within a reasonable period after termination, the trustee will sell any
securities remaining in a trust and, after paying all expenses and charges
incurred by the trust, will distribute to unitholders thereof their pro rata
share of the balances remaining in the Income and Capital Accounts of the trust.

The sponsor may, but is not obligated to, offer for sale units of a
subsequent series of a trust at approximately the time of the mandatory
termination date. If the sponsor does offer such units for sale, unitholders
may be given the opportunity to purchase such units at a public offering price
that includes a reduced sales fee. There is, however, no assurance that units
of any new series of a trust will be offered for sale at that time, or if
offered, that there will be sufficient units available for sale to meet the
requests of any or all unitholders.

THE TRUSTEE. The trustee is The Bank of New York Mellon, a trust company
organized under the laws of New York. The Bank of New York Mellon has its
principal unit investment trust division offices at 2 Hanson Place, 12th Floor,
Brooklyn, New York 11217, (800) 848-6468. The Bank of New York Mellon is subject
to supervision and examination by the Superintendent of Banks of the State of
New York and the Board of Governors of the Federal Reserve System, and its
deposits are insured by the Federal Deposit Insurance Corporation to the extent
permitted by law.

The trustee, whose duties are ministerial in nature, has not participated
in selecting the portfolio of any trust. In accordance with the trust
agreement, the trustee shall keep records of all transactions at its office.
Such records shall include the name and address of, and the number of units held
by, every unitholder of a trust. Such books and records shall be open to
inspection by any unitholder at all reasonable times during usual business
hours. The trustee shall make such annual or other reports as may from time to
time be required under any applicable state or federal statute, rule or
regulation. The trustee shall keep a certified copy or duplicate original of
the trust agreement on file in its office available for inspection at all
reasonable times during usual business hours by any unitholder, together with a
current list of the securities held in each trust. Pursuant to the trust
agreement, the trustee may employ one or more agents for the purpose of custody
and safeguarding of securities comprising a trust.

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Under the trust agreement, the trustee or any successor trustee may resign
and be discharged of a trust created by the trust agreement by executing an
instrument in writing and filing the same with the sponsor.

The trustee or successor trustee must mail a copy of the notice of
resignation to all unitholders then of record, not less than sixty days before
the date specified in such notice when such resignation is to take effect. The
sponsor upon receiving notice of such resignation is obligated to appoint a
successor trustee promptly. If, upon such resignation, no successor trustee has
been appointed and has accepted the appointment within thirty days after
notification, the retiring trustee may apply to a court of competent
jurisdiction for the appointment of a successor. In case at any time the
trustee shall not meet the requirements set forth in the trust agreement, or
shall become incapable of acting, or if a court having jurisdiction in the
premises shall enter a decree or order for relief in respect of the trustee in
an involuntary case, or the trustee shall commence a voluntary case, under any
applicable bankruptcy, insolvency or other similar law now or hereafter in
effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator
(or similar official) for the trustee or for any substantial part of its
property shall be appointed, or the trustee shall generally fail to pay its
debts as they become due, or shall fail to meet such written standards for the
trustee's performance as shall be established from time to time by the sponsor,
or if the sponsor determines in good faith that there has occurred either (1) a
material deterioration in the creditworthiness of the trustee or (2) one or more
grossly negligent acts on the part of the trustee with respect to a trust, the
sponsor, upon sixty days' prior written notice, may remove the trustee and
appoint a successor trustee, as hereinafter provided, by written instrument, in
duplicate, one copy of which shall be delivered to the trustee so removed and
one copy to the successor trustee. Notice of such removal and appointment shall
be mailed to each unitholder by the sponsor. Upon execution of a written
acceptance of such appointment by such successor trustee, all the rights,
powers, duties and obligations of the original trustee shall vest in the
successor. The trustee must be a corporation organized under the laws of the
United States, or any state thereof, be authorized under such laws to exercise
trust powers and have at all times an aggregate capital, surplus and undivided
profits of not less than $5,000,000.

THE SPONSOR. The sponsor of the trust is Advisors Asset Management, Inc.
acting through its unit investment trust division. The sponsor is a broker-
dealer specializing in providing services to broker-dealers, registered
representatives, investment advisers and other financial professionals. The
sponsor's headquarters are located at 18925 Base Camp Road, Monument, Colorado
80132. You can contact the unit investment trust division at 8100 East 22nd
Street North, Building 800, Suite 102, Wichita, Kansas 67226 or by using the
contacts listed on the back cover of the prospectus. The sponsor is a registered
broker-dealer and investment adviser and a member of the Financial Industry
Regulatory Authority, Inc. (FINRA) and the Securities Investor Protection
Corporation (SIPC), and a registrant of the Municipal Securities Rulemaking
Board (MSRB).

If at any time the sponsor shall fail to perform any of its duties under
the trust agreement or shall become incapable of acting or shall be adjudged a
bankrupt or insolvent or shall have its affairs taken over by public
authorities, then the trustee may (a) appoint a successor sponsor at rates of
compensation deemed by the trustee to be reasonable and not exceeding such
reasonable amounts as may be prescribed by the Securities and Exchange
Commission, (b) terminate the

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trust agreement and liquidate any trust as provided therein, or (c) continue to
act as trustee without terminating the trust agreement.

THE EVALUATOR AND SUPERVISOR. Advisors Asset Management, Inc., the
sponsor, also serves as evaluator and supervisor. The evaluator and supervisor
may resign or be removed by the sponsor and trustee in which event the sponsor
or trustee is to use its best efforts to appoint a satisfactory successor. Such
resignation or removal shall become effective upon acceptance of appointment by
the successor evaluator. If upon resignation of the evaluator no successor has
accepted appointment within thirty days after notice of resignation, the
evaluator may apply to a court of competent jurisdiction for the appointment of
a successor. Notice of such resignation or removal and appointment shall be
mailed by the trustee to each unitholder.

LIMITATIONS ON LIABILITY. The sponsor, evaluator, and supervisor are
liable for the performance of their obligations arising from their
responsibilities under the trust agreement but will be under no liability to the
unitholders for taking any action or refraining from any action in good faith
pursuant to the trust agreement or for errors in judgment, except in cases of
its own gross negligence, bad faith or willful misconduct or its reckless
disregard for its duties thereunder. The sponsor shall not be liable or
responsible in any way for depreciation or loss incurred by reason of the sale
of any securities.

The trust agreement provides that the trustee shall be under no liability
for any action taken in good faith in reliance upon prima facie properly
executed documents or for the disposition of moneys, securities or certificates
except by reason of its own gross negligence, bad faith or willful misconduct,
or its reckless disregard for its duties under the trust agreement, nor shall
the trustee be liable or responsible in any way for depreciation or loss
incurred by reason of the sale by the trustee of any securities. In the event
that the sponsor shall fail to act, the trustee may act and shall not be liable
for any such action taken by it in good faith. The trustee shall not be
personally liable for any taxes or other governmental charges imposed upon or in
respect of the securities or upon the interest thereof. In addition, the trust
agreement contains other customary provisions limiting the liability of the
trustee.

The trustee and unitholders may rely on any evaluation furnished by the
evaluator and shall have no responsibility for the accuracy thereof. The trust
agreement provides that the determinations made by the evaluator shall be made
in good faith upon the basis of the best information available to it, provided,
however, that the evaluator shall be under no liability to the trustee or
unitholders for errors in judgment, but shall be liable for its gross
negligence, bad faith or willful misconduct or its reckless disregard for its
obligations under the trust agreement.

EXPENSES OF THE TRUST. The sponsor will not charge a trust any fees for
services performed as sponsor. The sponsor will receive a portion of the sale
commissions paid in connection with the purchase of units and will share in
profits, if any, related to the deposit of securities in the trust.

The sponsor may receive a fee from your trust for creating and developing
the trust, including determining the trust's objectives, policies, composition
and size, selecting service providers and information services and for providing
other similar administrative and ministerial

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functions. The amount of this "creation and development fee" is set forth in the
prospectus. The trustee will deduct this amount from your trust's assets as of
the close of the initial offering period. No portion of this fee is applied to
the payment of distribution expenses or as compensation for sales efforts. This
fee will not be deducted from proceeds received upon a repurchase, redemption or
exchange of units before the close of the initial public offering period.

The trustee receives for its services that fee set forth in the prospectus.
The trustee's fee which is calculated and paid monthly is based on the total
number of units of the related trust outstanding as of January 1 for any annual
period, except during the initial offering period the fee will be based on the
units outstanding at the end of each month. The trustee benefits to the extent
there are funds for future distributions, payment of expenses and redemptions in
the Capital and Income Accounts since these Accounts are non-interest bearing
and the amounts earned by the trustee are retained by the trustee. Part of the
trustee's compensation for its services to a trust is expected to result from
the use of these funds.

The supervisor will charge a trust a surveillance fee for services
performed for the trust in an amount not to exceed that amount set forth in the
prospectus but in no event will such compensation, when combined with all
compensation received from other unit investment trusts for which the sponsor
both acts as sponsor and provides portfolio surveillance, exceed the aggregate
cost to the sponsor of providing such services. Such fee shall be based on the
total number of units of the related trust outstanding as of January 1 for any
annual period, except during the initial offering period the fee will be based
on the units outstanding at the end of each month.

For evaluation of the securities in a trust, the evaluator shall receive an
evaluation fee in an amount not to exceed that amount set forth in the
prospectus but in no event will such compensation, when combined with all
compensation from other unit investment trusts for which the sponsor acts as
sponsor and provides evaluation services, exceed the aggregate cost of providing
such services. Such fee shall be based on the total number of units of the
related trust outstanding as of January 1 for any annual period, except during
the initial offering period the fee will be based on the units outstanding at
the end of each month.

For providing bookkeeping and administrative services to a trust, the
sponsor shall receive an administration fee in an amount not to exceed that
amount set forth in the prospectus but in no event will such compensation, when
combined with all compensation from other unit investment trusts for which the
sponsor acts as sponsor and provides evaluation services, exceed the aggregate
cost of providing such services. Such fee shall be based on the total number of
units of the related trust outstanding as of January 1 for any annual period,
except during the initial offering period the fee will be based on the units
outstanding at the end of each month.

The trustee's fee, sponsor's fee for providing bookkeeping and
administrative services to the trust, supervisor's fee and evaluator's fee are
deducted from the Income Account of the related trust to the extent funds are
available and then from the Capital Account. Each such fee (other than any
creation and development fee) may be increased without approval of unitholders
by amounts not exceeding a proportionate increase in the Consumer Price Index or
any equivalent index substituted therefor.

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The following additional charges are or may be incurred by the trust:
(a) fees for the trustee's extraordinary services; (b) expenses of the trustee
(including legal and auditing expenses and reimbursement of the cost of advances
to the trust for payment of expenses and distributions, but not including any
fees and expenses charged by an agent for custody and safeguarding of
securities) and of counsel, if any; (c) various governmental charges;
(d) expenses and costs of any action taken by the trustee to protect the trust
or the rights and interests of the unitholders; (e) indemnification of the
trustee for any loss, liability or expense incurred by it in the administration
of the trust not resulting from negligence, bad faith or willful misconduct on
its part or its reckless disregard of its obligations under the trust agreement;
(f) indemnification of the sponsor for any loss, liability or expense incurred
in acting in that capacity without gross negligence, bad faith or willful
misconduct or its reckless disregard for its obligations under the trust
agreement; and (g) expenditures incurred in contacting unitholders upon
termination of the trust. The fees and expenses set forth herein are payable
out of a trust and, when owing to the trustee, are secured by a lien on the
trust. If the balances in the Income and Capital Accounts are insufficient to
provide for amounts payable by the trust, the trustee has the power to sell
securities to pay such amounts. These sales may result in capital gains or
losses to unitholders. A trust may pay the costs of updating its registration
statement each year.

PORTFOLIO TRANSACTIONS AND BROKERAGE ALLOCATION

When a trust sells securities, the composition and diversity of the
securities in the trust may be altered. In order to obtain the best price for a
trust, it may be necessary for the sponsor to specify minimum amounts in which
blocks of securities are to be sold. In effecting purchases and sales of a
trust's portfolio securities, the sponsor may direct that orders be placed with
and brokerage commissions be paid to brokers, including brokers which may be
affiliated with the trust, the sponsor or dealers participating in the offering
of units.

PURCHASE, REDEMPTION AND PRICING OF UNITS

PUBLIC OFFERING PRICE. Units of a trust are offered at the public offering
price thereof. The public offering price per unit is equal to the net asset
value per unit plus organization costs plus the applicable sales fee referred to
in the prospectus. The initial sales fee is equal to the difference between the
maximum sales fee and the sum of the remaining deferred sales fee and the total
creation and development fee. The sales fee as a percentage of the public
offering price and the net amount invested is set forth in the prospectus. The
deferred sales fee is a fixed dollar amount and will be collected in
installments as described in the prospectus. The creation and development fee is
a fixed dollar amount and will be collected at the end of the initial offering
period as described in the prospectus. Units purchased after the initial
deferred sales fee payment will be subject to the remaining deferred sales fee
payments. Units sold or redeemed prior to such time as the entire applicable
deferred sales fee has been collected will be assessed the remaining deferred
sales fee at the time of such sale or redemption. Units sold or redeemed prior
to such time as the entire applicable creation and development fee has been
collected will not be assessed the remaining creation and development fee at the
time of such sale or redemption. During the initial offering period, a portion
of the public offering price includes an amount of securities to pay for all or
a portion of the costs incurred in establishing a trust. These costs

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include the cost of preparing the registration statement, the trust indenture
and other closing documents, registering units with the Securities and Exchange
Commission and states, the initial audit of the trust portfolio, legal fees and
the initial fees and expenses of the trustee. These costs will be deducted from
a trust as of the end of the initial offering period or after six months, if
earlier. Certain broker-dealers may charge a transaction fee for processing unit
purchases.

As indicated above, the initial public offering price of the units was
established by dividing the aggregate underlying value of the securities by the
number of units outstanding. Such price determination as of the opening of
business on the date a trust was created was made on the basis of an evaluation
of the securities in the trust prepared by the evaluator. After the opening of
business on this date, the evaluator will appraise or cause to be appraised
daily the value of the underlying securities as of the close of regular trading
on the New York Stock Exchange on days the New York Stock Exchange is open and
will adjust the public offering price of the units commensurate with such
valuation. Such public offering price will be effective for all orders received
at or prior to the close of regular trading on the New York Stock Exchange on
each such day as discussed in the prospectus. Orders received by the trustee,
sponsor or authorized financial professionals for purchases, sales or
redemptions after that time, or on a day when the New York Stock Exchange is
closed, will be held until the next determination of price as discussed in the
prospectus.

Had units of a trust been available for sale at the close of business on
the business day before the inception date of the trust, the public offering
price would have been as shown under "Essential Information" in the prospectus.
The public offering price per unit of a trust on the date of the prospectus or
on any subsequent date will vary from the amount stated under "Essential
Information" in the prospectus in accordance with fluctuations in the prices of
the underlying securities. Net asset value per unit is determined by dividing
the value of a trust's portfolio securities, cash and other assets, less all
liabilities, by the total number of units outstanding. The portfolio securities
are valued by the evaluator as follows: If the security is listed on a national
securities exchange, the evaluation will generally be based on the last sale
price on the exchange (unless the evaluator deems the price inappropriate as a
basis for evaluation). If the security is not so listed or, if so listed and
the principal market for the security is other than on the exchange, the
evaluation will generally be made by the evaluator in good faith based on an
appraisal of the fair value of the securities using recognized pricing methods.

The foregoing evaluations and computations shall be made as of the close of
regular trading on the New York Stock Exchange, on each business day commencing
with the trust's inception date of the securities, effective for all sales made
during the preceding 24-hour period.

Although payment is normally made three business days following the order
for purchase, payments may be made prior thereto. A person will become the
owner of units on the date of settlement provided payment has been received.
Cash, if any, made available to the sponsor prior to the date of settlement for
the purchase of units may be used in the sponsor's business and may be deemed to
be a benefit to the sponsor, subject to the limitations of the Securities
Exchange Act of 1934.

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PUBLIC DISTRIBUTION OF UNITS. The sponsor intends to qualify the units for
sale in a number of states. Units will be sold through dealers who are members
of the National Association of Securities Dealers, Inc. and through others.
Sales may be made to or through dealers at prices which represent discounts from
the public offering price as set forth in the prospectus. Certain commercial
banks may be making units available to their customers on an agency basis. The
sponsor reserves the right to change the discounts from time to time.

We may provide, at our own expense and out of our own profits, additional
compensation and benefits to broker-dealers who sell shares of units of this
trust and our other products. This compensation is intended to result in
additional sales of our products and/or compensate broker-dealers and financial
advisors for past sales. We may make these payments for marketing, promotional
or related expenses, including, but not limited to, expenses of entertaining
retail customers and financial advisors, advertising, sponsorship of events or
seminars, obtaining shelf space in broker-dealer firms and similar activities
designed to promote the sale of the our products. These arrangements will not
change the price you pay for your units.

The sponsor reserves the right to reject, in whole or in part, any order
for the purchase of units.

PROFITS OF SPONSOR. The sponsor will receive gross sales fees equal to the
percentage of the offering price of the units of such trusts stated in the
prospectus and will pay a portion of such sales fees to dealers and agents. In
addition, the sponsor may realize a profit or a loss resulting from the
difference between the purchase prices of the securities to the sponsor and the
cost of such securities to a trust. The sponsor may also realize profits or
losses with respect to securities deposited in a trust which were acquired from
underwriting syndicates of which the sponsor was a member. An underwriter or
underwriting syndicate purchases securities from the issuer on a negotiated or
competitive bid basis, as principal, with the motive of marketing such
securities to investors at a profit. The sponsor may realize additional profits
or losses during the initial offering period on unsold units as a result of
changes in the daily evaluation of the securities in a trust.

MARKET FOR UNITS. After the initial offering period, while not obligated
to do so, the sponsor may, subject to change at any time, maintain a market for
units of the trust offered hereby and to continuously offer to purchase said
units at the net asset value determined by the evaluator, provided that the
repurchase price will not be reduced by any remaining creation and development
fee or organization costs during the initial offering period. While the sponsor
may repurchase units from time to time, it does not currently intend to maintain
an active secondary market for units. Unitholders who wish to dispose of their
units should inquire of their broker as to current market prices in order to
determine whether there is in existence any price in excess of the redemption
price and, if so, the amount thereof. Unitholders who sell or redeem units
prior to such time as the entire deferred sales fee on such units has been
collected will be assessed the amount of the remaining deferred sales fee at the
time of such sale or redemption. Unitholders who sell or redeem units prior to
such time as the entire creation and development fee on such units has been
collected will not be assessed the amount of the remaining creation and
development fee at the time of such sale or redemption. The offering price of
any units resold by the sponsor will be in accord with that described in the
currently effective prospectus describing

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such units. Any profit or loss resulting from the resale of such units will
belong to the sponsor. If the sponsor decides to maintain a secondary market,
it may suspend or discontinue purchases of units of the trust if the supply of
units exceeds demand, or for other business reasons.

REDEMPTION. A unitholder who does not dispose of units in the secondary
market described above may cause units to be redeemed by the trustee by making a
written request to the trustee at its unit investment trust division office.
Unitholders must sign the request exactly as their names appear on the records
of the trustee. Additional documentation may be requested, and a signature
guarantee is always required, from corporations, executors, administrators,
trustees, guardians or associations. The signatures must be guaranteed by a
participant in the Securities Transfer Agents Medallion Program ("STAMP") or
such other signature guaranty program in addition to, or in substitution for,
STAMP, as may be accepted by the trustee.

Redemption shall be made by the trustee no later than the seventh day
following the day on which a tender for redemption is received (the "Redemption
Date") by payment of cash equivalent to the redemption price, determined as set
forth below under "Computation of Redemption Price," as of the close of regular
trading on the New York Stock Exchange next following such tender, multiplied by
the number of units being redeemed. Any units redeemed shall be canceled and
any undivided fractional interest in the related trust extinguished. The price
received upon redemption might be more or less than the amount paid by the
unitholder depending on the value of the securities in the trust at the time of
redemption. Unitholders who sell or redeem units prior to such time as the
entire deferred sales fee on such units has been collected will be assessed the
amount of the remaining deferred sales fee at the time of such sale or
redemption. Unitholders who sell or redeem units prior to such time as the
entire creation and development fee on such units has been collected will not be
assessed the amount of the remaining creation and development fee at the time of
such sale or redemption. Certain broker-dealers may charge a transaction fee
for processing redemption requests.

Under regulations issued by the Internal Revenue Service, the trustee is
required to withhold a specified percentage of the principal amount of a unit
redemption if the trustee has not been furnished the redeeming unitholder's tax
identification number in the manner required by such regulations. Any amount so
withheld is transmitted to the Internal Revenue Service and may be recovered by
the unitholder only when filing a tax return. Under normal circumstances, the
trustee obtains the unitholder's tax identification number from the selling
broker. However, any time a unitholder elects to tender units for redemption,
such unitholder should make sure that the trustee has been provided a certified
tax identification number in order to avoid this possible "back-up withholding."
In the event the trustee has not been previously provided such number, one must
be provided at the time redemption is requested. Any amounts paid on redemption
representing interest shall be withdrawn from the Income Account of a trust to
the extent that funds are available for such purpose. All other amounts paid on
redemption shall be withdrawn from the Capital Account for a trust.

Unitholders tendering units for redemption may request a distribution in
kind (a "Distribution In Kind") from the trustee in lieu of cash redemption of
an amount and value of securities per unit equal to the redemption price per
unit as determined as of the evaluation time next following the tender, provided
that the tendering unitholder meets the requirements stated in

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the prospectus and the unitholder has elected to redeem at least thirty days
prior to the termination of the trust. If the unitholder meets these
requirements, a Distribution In Kind will be made by the trustee through the
distribution of each of the securities of the trust in book entry form to the
account of the unitholder's bank or broker-dealer at Depository Trust Company.
The tendering unitholder shall be entitled to receive whole shares of each of
the securities comprising the portfolio of the trust and cash from the Capital
Account equal to the fractional shares to which the tendering unitholder is
entitled. The trustee shall make any adjustments necessary to reflect
differences between the redemption price of the units and the value of the
securities distributed in kind as of the date of tender. If funds in the
Capital Account are insufficient to cover the required cash distribution to the
tendering unitholder, the trustee may sell securities. The in kind redemption
option may be terminated by the sponsor at any time.

The trustee is empowered to sell securities in order to make funds
available for the redemption of units. To the extent that securities are sold
or redeemed in-kind, the size of a trust will be, and the diversity of a trust
may be, reduced but each remaining unit will continue to represent approximately
the same proportional interest in each security. Sales may be required at a
time when securities would not otherwise be sold and may result in lower prices
than might otherwise be realized. The price received upon redemption may be
more or less than the amount paid by the unitholder depending on the value of
the securities in the portfolio at the time of redemption.

The trustee is irrevocably authorized in its discretion, if the sponsor
does not elect to purchase any unit tendered for redemption, in lieu of
redeeming such units, to sell such units in the over-the-counter market for the
account of tendering unitholders at prices which will return to the unitholders
amounts in cash, net after brokerage commissions, transfer taxes and other
charges, equal to or in excess of the redemption price for such units. In the
event of any such sale, the trustee shall pay the net proceeds thereof to the
unitholders on the day they would otherwise be entitled to receive payment of
the redemption price.

The right of redemption may be suspended and payment postponed (1) for any
period during which the New York Stock Exchange is closed, other than customary
weekend and holiday closings, or during which (as determined by the Securities
and Exchange Commission) trading on the New York Stock Exchange is restricted;
(2) for any period during which an emergency exists as a result of which
disposal by the trustee of securities is not reasonably practicable or it is not
reasonably practicable to fairly determine the value of the underlying
securities in accordance with the trust agreement; or (3) for such other period
as the Securities and Exchange Commission may by order permit. The trustee is
not liable to any person in any way for any loss or damage which may result from
any such suspension or postponement.

COMPUTATION OF REDEMPTION PRICE. The redemption price for units of each
trust is computed by the evaluator as of the evaluation time stated in the
prospectus next occurring after the tendering of a unit for redemption and on
any other business day desired by it, by:

A. Adding: (1) the cash on hand in the trust other than cash deposited in the
trust to purchase securities not applied to the purchase of such securities
and (2) the aggregate

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value of each issue of the securities held in the trust as determined by
the evaluator as described above;

B. Deducting therefrom (1) amounts representing any applicable taxes or
governmental charges payable out of the trust and for which no deductions
have been previously made for the purpose of additions to the Reserve
Account; (2) an amount representing estimated accrued expenses, including
but not limited to fees and expenses of the trustee (including legal and
auditing fees), the evaluator, the sponsor and counsel, if any; (3) cash
held for distribution to unitholders of record as of the business day prior
to the evaluation being made; and (4) other liabilities incurred by the
trust, provided that the redemption price will not be reduced by any
remaining creation and development fee or organization costs during the
initial offering period; and

C. Finally dividing the results of such computation by the number of units of
the trust outstanding as of the date thereof.

RETIREMENT PLANS. A trust may be suited for purchase by Individual
Retirement Accounts, Keogh Plans, pension funds and other qualified retirement
plans. Generally, capital gains and income received under each of the foregoing
plans are deferred from Federal taxation. All distributions from such plans are
generally treated as ordinary income but may, in some cases, be eligible for
special income averaging or tax-deferred rollover treatment. Investors
considering participation in any such plan should review specific tax laws
related thereto and should consult their attorneys or tax advisers with respect
to the establishment and maintenance of any such plan. Such plans are offered
by brokerage firms and other financial institutions. The trust will lower the
minimum investment requirement for IRA accounts. Fees and charges with respect
to such plans may vary.

OWNERSHIP OF UNITS. Ownership of units will not be evidenced by
certificates. Units may be purchased in denominations of one unit or any
multiple thereof, subject to the minimum investment requirement. Fractions of
units, if any, will be computed to three decimal places.

TAXATION

The prospectus contains a discussion of certain U.S. federal income tax
issues concerning your trust and the purchase, ownership and disposition of
trust units. The discussion below supplements the prospectus discussion and is
qualified in its entirety by the prospectus discussion. Prospective investors
should consult their own tax advisors with regard to the federal tax
consequences of the purchase, ownership, or disposition of trust units, as well
as the tax consequences arising under the laws of any state, locality, non-U.S.
country, or other taxing jurisdiction.

The federal income tax summary below and in the prospectus is based in part
on the advice of counsel to your trust. The Internal Revenue Service could
disagree with any conclusions set forth in these discussions. In addition, our
counsel was not asked to review, and has not reached a conclusion with respect
to the federal income tax treatment of the assets to be

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held by your trust. This may not be sufficient for prospective investors to use
for the purpose of avoiding penalties under federal tax law.

If so indicated in the prospectus, your trust intends (i) to elect and (ii)
to qualify annually as a regulated investment company under the Code and to
comply with applicable distribution requirements so that it will not pay federal
income tax on income and capital gains distributed to its unitholders.

To qualify for the favorable U.S. federal income tax treatment generally
accorded to regulated investment companies, your trust must, among other things,
(a) derive in each taxable year at least 90% of its gross income from dividends,
interest, payments with respect to securities loans and gains from the sale or
other disposition of stock, securities or foreign currencies or other income
derived with respect to its business of investing in such stock, securities or
currencies, and net income from certain publicly traded partnerships; (b)
diversify its holdings so that, at the end of each quarter of the taxable year,
(i) at least 50% of the market value of the trust's assets is represented by
cash and cash items (including receivables), U.S. government securities, the
securities of other regulated investment companies and other securities, with
such other securities of any one issuer generally limited for the purposes of
this calculation to an amount not greater than 5% of the value of the trust's
total assets and not greater than 10% of the outstanding voting securities of
such issuer, and (ii) not more than 25% of the value of its total assets is
invested in the securities (other than U.S. government securities or the
securities of other regulated investment companies) of any one issuer, or two or
more issuers which the trust controls and are engaged in the same, similar or
related trades or businesses, or the securities of certain publicly traded
partnerships; and (c) distribute at least 90% of its investment company taxable
income (which includes, among other items, dividends, interest and net short-
term capital gains in excess of net long-term capital losses but excludes net
capital gain, if any) and at least 90% of its net tax-exempt interest income
each taxable year.

As a regulated investment company, your trust generally will not be subject
to U.S. federal income tax on its investment company taxable income (as that
term is defined in the Code, but without regard to the deduction for dividends
paid) and net capital gain (the excess of net long-term capital gain over net
short term capital loss), if any, that it distributes to unitholders. The trusts
intend to distribute to its unitholders, at least annually, substantially all of
its investment company taxable income and net capital gain. If your trust
retains any net capital gain or investment company taxable income, it will
generally be subject to federal income tax at regular corporate rates on the
amount retained. In addition, amounts not distributed on a timely basis in
accordance with a calendar year distribution requirement are subject to a
nondeductible 4% excise tax unless, generally, your trust distributes during
each calendar year an amount equal to the sum of (1) at least 98% of its
ordinary income (not taking into account any capital gains or losses) for the
calendar year, (2) at least 98% of its capital gains in excess of its capital
losses (adjusted for certain ordinary losses) for the one-year period ending
October 31 of the calendar year, and (3) any ordinary income and capital gains
for previous years that were not distributed during those years. To prevent
application of the excise tax, your trust intends to make its distributions in
accordance with the calendar year distribution requirement. Further, if your
trust retains any net capital gain, the trust may designate the retained amount
as undistributed capital gains in a notice to unitholders who, if subject to
federal income tax on long-term capital gains

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(i) will be required to include in income for federal income tax purposes, as
long-term capital gain, their share of such undistributed amount, and (ii) will
be entitled to credit their proportionate share of the tax paid by the trust
against their federal income tax liabilities if any, and to claim refunds to the
extent the credit exceeds such liabilities. A distribution will be treated as
paid on December 31 of the current calendar year if it is declared by your trust
in October, November or December with a record date in such a month and paid by
your trust during January of the following calendar year. These distributions
will be taxable to unitholders in the calendar year in which the distributions
are declared, rather than the calendar year in which the distributions are
received.

If your trust failed to qualify as a regulated investment company or failed
to satisfy the 90% distribution requirement in any taxable year, the trust would
be taxed as an ordinary corporation on its taxable income (even if such income
were distributed to its unitholders) and all distributions out of earnings and
profits would be taxed to unitholders as ordinary dividend income.

If the trust is treated as holding directly or indirectly 10 percent or
more of the combined voting power of the stock of a foreign corporation, and all
U.S. shareholders collectively own more than 50 percent of the vote or value of
the stock of such corporation, the foreign corporation may be treated as a
"controlled foreign corporation" (a "CFC") from a U.S. tax perspective. In such
circumstances, the trust will be required to include certain types of passive
income and certain other types of income relating to insurance, sales and
services with related parties and oil related income in the trust's taxable
income whether or not such income is distributed.

If the trust holds an equity interest in any "passive foreign investment
companies" ("PFICs"), which are generally certain foreign corporations that
receive at least 75% of their annual gross income from passive sources (such as
interest, dividends, certain rents and royalties or capital gains) or that hold
at least 50% of their assets in investments producing such passive income, the
trust could be subject to U.S. federal income tax and additional interest
charges on gains and certain distributions with respect to those equity
interests, even if all the income or gain is timely distributed to its
unitholders. The trust will not be able to pass through to its unitholders any
credit or deduction for such taxes. The trust may be able to make an election
that could ameliorate these adverse tax consequences. In this case, the trust
would recognize as ordinary income any increase in the value of such PFIC
shares, and as ordinary loss any decrease in such value to the extent it did not
exceed prior increases included in income. Under this election, the trust might
be required to recognize in a year income in excess of its distributions from
PFICs and its proceeds from dispositions of PFIC stock during that year, and
such income would nevertheless be subject to the distribution requirement and
would be taken into account for purposes of the 4% excise tax (described above).
Dividends paid by PFICs will not be treated as qualified dividend income.

PERFORMANCE INFORMATION

Information contained in this Information Supplement or in the prospectus,
as it currently exists or as further updated, may also be included from time to
time in other prospectuses or in

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advertising material. Information on the performance of a trust strategy or the
actual performance of a trust may be included from time to time in other
prospectuses or advertising material and may reflect sales fees and expenses of
a trust. The performance of a trust may also be compared to the performance of
money managers as reported in SEI Fund Evaluation Survey or of mutual funds as
reported by Lipper Analytical Services Inc. (which calculates total return
using actual dividends on ex-dates accumulated for the quarter and reinvested at
quarter end), Money Magazine Fund Watch (which rates fund performance over a
specified time period after sales fee and assuming all dividends reinvested) or
Wiesenberger Investment Companies Service (which states fund performance
annually on a total return basis) or of the New York Stock Exchange Composite
Index, the American Stock Exchange Index (unmanaged indices of stocks traded on
the New York and American Stock Exchanges, respectively), the Dow Jones
Industrial Average (an index of 30 widely traded industrial common stocks) or
the Standard & Poor's 500 Index (an unmanaged diversified index of 500 stocks)
or similar measurement standards during the same period of time.

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CONTENTS OF REGISTRATION STATEMENT

This Amendment to the Registration Statement comprises the following:
The facing sheet
The prospectus and information supplement
The signatures
The consents of evaluator, independent auditors and legal counsel

The following exhibits:

1.1 Trust Agreement.

1.1.1 Standard Terms and Conditions of Trust. Reference is made to Exhibit
1.1.1 to the Registration Statement on Form S-6 for Advisor's Disciplined
Trust, Series 13 (File No. 333-116816) as filed on August 5, 2004.

1.2 Certificate of Amendment of Certificate of Incorporation and Certificate
of Merger of Advisors Asset Management, Inc. Reference is made to
Exhibit 1.2 to the Registration Statement on Form S-6 for Advisors
Disciplined Trust 647 (File No. 333-171079) as filed on January 6, 2011.

1.3 Bylaws of Advisors Asset Management, Inc. Reference is made to
Exhibit 1.3 to the Registration Statement on Form S-6 for Advisors
Disciplined Trust 647 (File No. 333-171079) as filed on January 6, 2011.

1.5 Form of Dealer Agreement. Reference is made to Exhibit 1.5 to the
Registration Statement of Form S-6 for Advisors Disciplined Trust 262
(File No. 333-150575) as filed of June 17, 2008.

2.2 Form of Code of Ethics. Reference is made to Exhibit 2.2 to the
Registration Statement on Form S-6 for Advisor's Disciplined Trust 73
(File No. 333-131959) as filed on March 16, 2006.

3.1 Opinion of counsel as to legality of securities being registered.

3.3 Opinion of counsel as to the Trustee and the Trust.

4.1 Consent of evaluator.

4.2 Consent of independent registered public accounting firm.

6.1 Directors and Officers of Advisors Asset Management, Inc. Reference is
made to Exhibit 6.1 to the Registration Statement on Form S-6 for
Advisors Disciplined Trust 736 (File No. 333-174382) as filed on
August 18, 2011.

7.1 Power of Attorney. Reference is made to Exhibit 7.1 to the Registration
Statement on Form S-6 for Advisor's Disciplined Trust 213
(File No. 333-148484) as filed on January 4, 2008.

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SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the Registrant,
Advisors Disciplined Trust 1006 has duly caused this Amendment to the
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Wichita and State of Kansas on the 5th day of
April, 2013.
ADVISORS DISCIPLINED TRUST 1006

By ADVISORS ASSET MANAGEMENT, INC., DEPOSITOR

By: /s/ ALEX R. MEITZNER
-----------------------------
Alex R. Meitzner
Senior Vice President

Pursuant to the requirements of the Securities Act of 1933, this Amendment
to the Registration Statement has been signed below on April 5, 2013 by the
following persons in the capacities indicated.

SIGNATURE TITLE

Scott I. Colyer Director of Advisors Asset )
Management, Inc. )

Lisa A. Colyer Director of Advisors Asset )
Management, Inc. )

James R. Costas Director of Advisors Asset )
Management, Inc. )

S-2

Christopher T. Genovese Director of Advisors Asset )
Management, Inc. )

Randy J. Pegg Director of Advisors Asset )
Management, Inc. )

R. Scott Roberg Director of Advisors Asset )
Management, Inc. )

Jack Simkin Director of Advisors Asset )
Management, Inc. )

Andrew Williams Director of Advisors Asset )
Management, Inc. )

By /s/ ALEX R MEITZNER
-----------------------------
Alex R. Meitzner
Attorney-in-Fact*

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*An executed copy of each of the related powers of attorney is filed
herewith or incorporated herein by reference as Exhibit 7.1.

S-3