184195Brinker Capital, Inc., a Registered Investment AdvisorINVESTMENT STRATEGYRECOMMENDATIONA PROPOSAL TO:Valued ClientPresented by:Mr. Donald T McNeill, Jr., ChFCJune 17, 2013This presentation is intended for one-on-one presentations with a financial advisor present.
184195Brinker Capital, Inc., a Registered Investment Advisor 2WELCOMEYour investments are so much more than funds and shares, dollars and cents. They’re both plan and protection.Lifestyle and legacy. As an independent investment management firm, Brinker Capital has been serving clients like you since 1987.In that time, we’ve learned one thing that informs everything we do: It’s not just your assets you are investing. It’s your future.Thank you for the opportunity to provide you with investment recommendations. Based on responses to questions in yourconfidential Investment Strategy Questionnaire, we have prepared these recommendations specifically for the management of yourassets and to meet your investment objectives. Should you have any questions regarding the information in this document, pleasecontact:Mr. Donald T McNeill, Jr.Phone: (706) email@example.comPO Box 1839Thomson, GA 30824Foresters Equity Services, Inc.McNeill Financial Services, LLC.
184195Brinker Capital, Inc., a Registered Investment Advisor 3Your Investment TeamCollaboration is a large part of how we work at Brinker Capital — and hasbeen since we were founded in 1987. Any time you need something, oryou have a question or concern, you have access to a dedicated team ofprofessionals, including:Your financial advisorAfter discussing your personal financial situation, Donald will work with your team ofprofessionals to help you meet your investment goals. Donald will help define your investmentobjectives and then discuss the appropriate information with Brinker Capital to develop yourinvestment strategy recommendation. Your advisor will meet with you to discuss yourinvestment strategy as well as assist you with meeting your asset and cash flow needs. Youradvisor will also be available to communicate with you on an ongoing basis regarding theinvestment process and your goals. When your investment objectives and personalcircumstances change, Donald will coordinate with Brinker Capital to make the necessaryadjustments to your investment strategy.Brinker CapitalBrinker Capital is an investment management firm focused on being the best partner to youradvisor, and therefore, to you. Just as your advisor is your trusted source to help you withfinancial decisions, we are that source for your advisor.Asset ManagersYour asset managers focus on day-to-day investment decisions and are responsible for selectinga portfolio of securities based on their specific investment discipline. They strive to add valueby generating returns appropriate to their style of investing.Valued Client
184195Brinker Capital, Inc., a Registered Investment Advisor 4Getting to Know YouTo understand your investment objectives, we need tounderstand you. Your advisor will describe your goals,risk tolerance, time horizon, tax concerns, and incomeneeds, so we can get a thorough sense of how to help you.Understanding Your GoalsAnalyze AssetManagementFirmsWe investigate theconsistency ofperformance, theirinvestment process,the quality of theirassociates andtheir businessprocess.Your SolutionOnce we know yourobjectives, we’ll lookat different ways toallocate assets to producethe results you are seeking.We Allocate Your PortfolioWe don’t give a one-size-fits-allanswer. Instead, we invest in abroad mix of asset classes thatbest serve your needs.Monitor andReviewWhen appropriate,we will reallocate yourportfolio for changes inthe market, assetmanagers or in yourinvestment objectives.CommunicationYou and youradvisor will alwaysknow what’shappening in yourportfolio throughaccount updatesand monthly andquarterly reports.
184195Brinker Capital, Inc., a Registered Investment Advisor 5Making Disciplined DecisionsThe way we construct portfolios, the asset managers we select, the products we offer—theyre all based on four coreprinciples. These approaches comprise our perspective on how to invest successfully in a way that builds both wealth andrelationships.Diversification - Our portfolios span six asset classes, includingboth traditional strategies—domestic equity, international equity, and fixedincome—and alternatives, including absolute return, real assets, andprivate equity. We ensure our clients have access to products andstrategies typically only available to large, institutional investors.Innovation - We continually look for ways to innovate,drawing on our extensive experience to find better investmentstrategies for the long term. This combination of curiosity andflexibility means that you have a ready source for new ideas andsmart solutions.Independent Analysis - At Brinker Capital, we formour own independent perspective on everything werecommend. When we’re putting together a portfolio, westart by analyzing strategy options based on expectedreturns, historic returns, and market volatility. Armed withour in-depth research, we can make informed, strategicdecisions about how to allocate assets.Hands-On Management - We carefullyevaluate every asset manager and strategy werecommend to make sure they meet our standardsfor performance and integrity. We also continueto monitor and reallocate portfolios to takeadvantage of market opportunities.
184195Brinker Capital, Inc., a Registered Investment Advisor 6Domestic Equity Domestic Equity Domestic Equity Domestic Equity Domestic Equity Domestic EquityInternational Equity International Equity International Equity International Equity International EquityFixed Income Fixed Income Fixed Income Fixed IncomeAbsolute Return Absolute Return Absolute ReturnReal Assets Real AssetsPrivate EquityWe also offer a wide range of portfolios to serve the various needs of different investors, from the most conservative to the mostaggressive strategy, from mutual funds to absolute return vehicles.This broad diversification translates into broader opportunities. It means that investors like you have access to products and strategies thataren’t generally available to individual investors. It means you may see reduced risk and increased returns over the long term. It meansthat both your money and your confidence are well placed.Source: Brinker Capital, Inc.There is more than one way to be successful in investing. In fact, there are at least six.We help protect and build wealth through a broadly diversified approach, using a strategy typically employed byendowments seeking to grow their investments over the long term.LESS DIVERSIFICATION MORE DIVERSIFICATION
184195Brinker Capital, Inc., a Registered Investment Advisor 7DiversificationBecause we understand that differentinvestments perform well at differenttimes, we invest in six asset classes,rather than the traditional three, as well asa number of sub-asset classes. Thisstrategy of broad diversification givesyou more opportunities to grow yourinvestments and less exposure torisk — no matter which way the market ismoving.Source: FactSet and Brinker Capital, Inc.
184195Brinker Capital, Inc., a Registered Investment Advisor 8Source: Factset, Red Rocks CapitalYTD returns as of 12/31/11The Growth of $1M chart is for illustration purposes only. No representation that the results represent investment performance of actual client accounts is intended. The chart is intended to demonstrate theimpact on a traditional portfolio of diversification through the inclusion of additional asset classes over a long-term investment horizon. The table discloses the time periods during which each asset class, asrepresented by the market index listed, was included or removed from the chart as more representative market indexes became available, as well as the weighting of each asset class, during the period. Whenindex data for certain asset classes was not available, the other asset class weightings were scaled upward. The information depicted in the charts above is derived from this table. For example, the equalweighted portfolio was 50% U.S. Equity and 50% International Equity from January 1971 through March 1973. In April 1973, the equal weighted portfolio was 33.33% U.S. Equity, 33.33% International Equityand 33.33% Fixed Income until January 1978, when the next asset class, Real Assets (real estate) was available, and so on. The S&P 500 Index is a market value weighted index with each stock’s weight in theIndex proportionate to its market value. The S&P Index is one of the most widely used benchmarks of U.S. equity performance. Each index is a broad market index representative of its respective asset classwhich is utilized by Brinker Capital as a benchmark for measuring the performance of such asset class. Unmanaged indices are for illustrative purposes only. An investor cannot invest directly in an index. Indexperformance does not reflect the deduction of fees and changes and does not reflect the reinvestment of dividends. Past performance is no guarantee of future results.Source: Brinker Capital, FactSet, Cambridge Associates, NCREIFAdditional Diversification Compounds Wealth
184195Brinker Capital, Inc., a Registered Investment Advisor 9Finding BalanceMany investors face the dilemma of investing for the needs of today or investingto meet the needs of tomorrow. If you focus too much on current expenses youmay risk not meeting your future goals.If too much focus is placed on your future growth it may be difficult to meet yourcurrent expenses. The key is to work closely with your financial advisor to planfor both current cash flow and growing your assets to meet your goals andobjectives.Source: Brinker Capital, Inc.Today Tomorrow
184195Brinker Capital, Inc., a Registered Investment Advisor 10Our Key Investment Themes Macro Uncertainties Remain and Could Provide Global Growth Headwindso Favor investments in U.S. companies versus developed international markets.o Europe has likely entered recession territory and growth in China has slowed Emerging Markets Biaso Long-term trend of stronger growth coming from emerging markets compared to developed markets.o Anticipate the middle class in emerging markets to continue to grow in size and wealth. Difficult Interest Rate Environmento Real interest rates are kept artificially low and will remain so for the foreseeable future.o Some risk is necessary to maintain long-term purchasing power within the fixed income asset class.o Consideration should be given to investments outside of fixed income that possess attractive yields. Unique Opportunitieso Continue to search for market anomalies and inefficiencies with the potential for attractive risk adjusted returns.
184195Brinker Capital, Inc., a Registered Investment Advisor 11How We Keep You Informed Quarterly Reportso Performance Reportso Risk/Return Analysiso Cash Flow Summary Monthly Outlook Market Review Reallocation Summary Online Account Access Mobile Account AccessWhat if Times Change?We understand that with life changes, your time horizon, tolerance for risk, or tax situation may change. At Brinker Capital, we thinkstability comes in large part from flexibility. With your advisor, we will adjust your portfolio to your changing circumstances, so that it bestserves your needs and allows you to sustain your lifestyle.Yet it’s not just your asset allocation we adapt. We also work hard to develop flexible investment strategies. We continually look for ways toinnovate, drawing on our extensive experience to find better strategies for the short and long term. We then incorporate our best ideas intoyour portfolio, so that it reflects our most up-to-date thinking and current market conditions.
184195Brinker Capital, Inc., a Registered Investment Advisor 12Your Recommended Investment SolutionWe strive to create the most appropriate investment strategy based on your responses to our InvestmentStrategy Questionnaire and from the input we received from your financial advisor regarding yourinvestment goals. If answers indicated differences in time horizon and/or risk tolerance, the investmentobjective reflects a blend of those responses. Please advise Donald if you believe that your overallinvestment objective differs from that derived by Brinker Capital or if you wish to modify any of youranswers to the Questionnaire. Changes to any of your responses could result in Brinker Capitalrecommending a different investment strategy and asset allocation.Your goals, objectives and risk tolerance may change over time. Your financial advisor will help you planfor all of life’s events, including the unforeseen ones. When you determine a change is needed, BrinkerCapital will adjust your investment strategy upon your instruction.
Aggressive Equity QualifiedValued Client IRA184195Brinker Capital, Inc., a Registered Investment Advisor 131 Target weightings and holdings reflect the target allocation policyweightings as of March 31, 2013. These may change prior toinvestment and are subject to change at any time. Allocations maynot add to totals due to rounding of asset class and fund allocationpercentages.2 If you are invested in a Destinations Strategy with thePersonalized Distribution feature your cash weighting will vary fromthe illustration provided in the table above.WeightingsTarget1 RangeDomestic Equity 68.99% 55%-81%Large CapColumbia Select 12.40%Columbia Dividend Opportunity 5.04%Touchstone Focused Equity 2.49%T. Rowe Price Growth Stock 11.64%TCW Dividend Focus 9.51%Delaware Value 8.64%Fidelity US Equity Index 8.00%Mid CapRidgeWorth Mid Cap Value 6.00%Small CapClearBridge Small Cap Growth 3.18%Aston/River Road IndependentValue2.10%International Equity 23.94% 19%-43%DevelopedMFS International Value 6.82%T. Rowe Price International Stock 5.89%Emerging MarketsWasatch Emerging Markets SmallCap3.78%Aberdeen Emerging Markets 2.08%Micro CapWasatch International Opportunities 3.03%Frontier MarketsWasatch Frontier EM SmallCountries Fund2.34%Fixed Income 1.16% 0%-5%Cash2Cash 1.16%WeightingsTarget1 RangeReal Assets 3.13% 0%-10%Natural Resources EquityRS Global Natural Resources 3.13%Absolute Return 1.47% 0%-20%Closed-End FundsRiverNorth Core Opportunity 1.47%Private Equity 1.30% 0%-10%Listed Private EquityRed Rocks Listed Private Equity 1.30%ObjectivesThe Aggressive Equity - Qualified AssetAllocation Strategy seeks to maximize long-termcapital appreciation. Typically the majority of theportfolio will be allocated to equity, with a smallerallocation to alternative asset classes. It isdesigned for qualified investments. Investorsshould realize that the equity emphasis will likelyproduce a very high level of volatility.Portfolio StructureThe portfolio’s allocation will emphasize equity.The domestic equity allocation has an emphasison large cap securities, with smaller allocations tomid and small cap. A substantial commitment tointernational equity will be maintained. A smallallocation will typically be made to alternativeinvestments such as real assets, absolute returnand private equity.
184195Brinker Capital, Inc., a Registered Investment Advisor 14Historical Performance of Recommended Investment Strategy: DestinationsValued Client IRAGrowth of $100,000The performance information for the Recommended Investment Strategy presents historical performance of client accounts that were open for the full period and invested according to the RecommendedInvestment Strategy. Past performance is no guarantee of future results or trends. The returns are calculated gross (before the deduction) of advisory fees payable to Brinker Capital or other expenses forservices not covered by the advisory fee. These fees and expenses will reduce your return. The Relative Return-Blended Benchmark presents the return produced over the performance period by a blend ofbroad market indices that approximates the recommended asset allocation. Figures for the indices reflect the reinvestment of dividends but do not reflect any fees or expenses which would reduce returns.Indices are unmanaged and an investor cannot invest directly in an index. See the accompanying disclosure statement regarding performance results, benchmarks, the impact of fees and other informationincluded in the investment strategy recommendation. The standard deviation shown is for the length of time displayed on the Growth of $100,000 Chart.Calendar Year Gross PerformanceYTD 2012 2011 2010 2009 2008 2007 2006 2005 2004Recommended Investment Strategy 12.33% 15.88% -5.07% 16.04% 34.87% -43.42% 11.26% 16.15% 8.90% 12.90%S&P 500 15.37% 16.00% 2.11% 15.06% 26.46% -37.00% 5.49% 15.79% 4.91% 10.88%Russell 2000 16.45% 16.35% -4.18% 26.86% 27.17% -33.79% -1.57% 18.37% 4.55% 18.33%Citigroup 3-month T-bill 0.03% 0.07% 0.08% 0.13% 0.16% 1.80% 4.74% 4.76% 3.00% 1.24%Relative Return - Blended Benchmark 12.01% 16.44% -3.36% 15.13% 31.78% -39.00% 7.44% 17.70% 8.19% 13.53%Gross Annualized Return through May 2013YTD 1 year 3 years 5 years 7 years 10 years Std. Dev.Recommended Investment Strategy 12.33% 25.71% 13.93% 2.34% 4.43% 7.55% 16.46%S&P 500 15.37% 27.28% 16.87% 5.43% 5.88% 7.58% 15.75%Russell 2000 16.45% 31.07% 15.72% 7.15% 5.99% 9.78% 20.91%Citigroup 3-month T-bill 0.03% 0.08% 0.09% 0.26% 1.40% 1.64% 0.59%Relative Return - Blended Benchmark 12.01% 26.89% 14.42% 3.66% 5.06% 8.07% 16.10%
184195Brinker Capital, Inc., a Registered Investment Advisor 15Historical Performance of Recommended Investment Strategy: DestinationsValued Client IRAPortfolio vs. Benchmark: Annualized ReturnsThe Portfolio vs. Benchmark: Annualized Return graph plots the annualized returns of the Recommended Investment Strategy, the Absolute ReturnBenchmark and Relative Return-Blended Benchmark. The graph also includes the following major market indices - S & P 500, Russell 2000, MSCIEAFE, Citigroup 3-Month T-Bill & Barclays Aggregate.Annualized ReturnPerformance TableThe performance information for the Recommended Investment Strategy presents historical performance of client accounts that were open for the full period and invested according to the RecommendedInvestment Strategy. Past performance is no guarantee of future results or trends. The returns are calculated gross (before the deduction) of advisory fees payable to Brinker Capital or other expenses forservices not covered by the advisory fee. These fees and expenses will reduce your return. The Absolute Return Benchmark is CPI-SA +5. The benchmark return is slightly overstated because the CPI is anannual calculation but the benchmark return reflects monthly compounding.The Relative Return-Blended Benchmark presents the return produced over the performance period by a blend of broad marketindices that approximates the recommended asset allocation. Figures for the indices reflect the reinvestment of dividends but do not reflect any fees or expenses which would reduce returns. Indices areunmanaged and an investor cannot invest directly in an index. See the accompanying disclosure statement regarding performance results, benchmarks, the impact of fees and other information included in theinvestment strategy recommendation.YTD 1 year 3 years 5 years 7 years 10 yearsRecommended Investment Strategy 9.15% 11.90% 10.06% 3.34% 3.71% 8.80%S&P 500 10.61% 13.96% 12.67% 5.81% 5.01% 8.53%Russell 2000 12.39% 16.30% 13.45% 8.24% 4.59% 11.52%MSCI EAFE Index 5.23% 11.79% 5.49% -0.40% 2.10% 10.19%Citigroup 3-month T-bill 0.02% 0.08% 0.09% 0.31% 1.51% 1.66%Barclays U.S. Aggregate -0.12% 3.77% 5.52% 5.47% 5.94% 5.02%Absolute Return Benchmark 1.75% 6.55% 7.35% 6.79% 7.29% 7.47%Relative Return - Blended Benchmark 8.51% 12.64% 10.37% 4.46% 4.35% 9.22%
184195Brinker Capital, Inc., a Registered Investment Advisor 16Recommended Investment Strategy: DestinationsValued Client IRARisk/ReturnThe Risk/Return graph plots the portfolio’s return (annualized %) against the portfolio’s standard deviation. This chart is a characterization of the risk adjusted return ofthe Recommended Investment Strategy as compared to the Relative Return-Blended Benchmark. The graph also includes the following major market indices - S & P500, MSCI EAFE & Barclays Aggregate. The ideal location on the graph is the upper left-hand quadrant, which means the portfolio had greater returns than thebenchmark with less volatility or risk.Risk/ReturnThe performance information for the Recommended Investment Strategy presents historical performance of client accounts that were open for the full period and invested according to the RecommendedInvestment Strategy. Past performance is no guarantee of future results or trends. The returns are calculated gross (before the deduction) of advisory fees payable to Brinker Capital or other expenses forservices not covered by the advisory fee. These fees and expenses will reduce your return. The Relative Return-Blended Benchmark presents the return produced over the performance period by a blend ofbroad market indices that approximates the recommended asset allocation. Figures for the indices reflect the reinvestment of dividends but do not reflect any fees or expenses which would reduce returns.Indices are unmanaged and an investor cannot invest directly in an index. See the accompanying disclosure statement regarding performance results, benchmarks, the impact of fees and other informationincluded in the investment strategy recommendation.Return: The change in the value of a portfolio overan evaluation period, including any distributions madefrom the portfolio during that period.Standard Deviation: A statistical measure of volatilityindicates the “risk” associated with a return series.The lower the number the less volatility.Sharpe Ratio: The Sharpe Ratio is a measure ofreward per unit of risk. It is a portfolios excess returnover the risk-free rate divided by the portfoliosstandard deviation. The portfolios excess return is itsgeometric mean return minus the geometric meanreturn of the risk-free instrument (by default, T-bills).The lower the Sharpe Ratio, the less return per unit oftotal risk the manager has generated.Beta vs. Blended Benchmark: Beta represents thesystematic risk of a portfolio and measures itssensitivity to a benchmark. A portfolio with a beta ofone is considered as risky as the benchmark andwould therefore provide expected returns equal tothose of the market during both up and down periods.A portfolio with a beta of two would move (both up anddown) approximately twice as much as thebenchmark.Maximum Drawdown: The maximum loss(compounded, not annualized) that the managerincurred during any sub-period. Drawdowns arecalculated on monthly returns.ReturnStandardDeviationSharpeRatioBeta vs.BlendedMaximumDrawdownRecommended Investment Strategy 4.64% 16.46% 0.15 1.01 -54.01%S&P 500 3.53% 15.75% 0.08 0.96 -50.95%MSCI EAFE Index 4.34% 17.89% 0.12 1.03 -56.40%Barclays U.S. Aggregate 5.78% 3.53% 1.00 -0.02 -3.83%Relative Return - Blended Benchmark 4.23% 16.10% 0.12 1.00 -52.22%
184195Brinker Capital, Inc., a Registered Investment Advisor 17Hypothetical Total Return for Your Recommended Investment Strategy: DestinationsValued Client IRAMonte Carlo SimulationThe above projections are forecasted returns and market values for the Recommended Investment Strategy using Brinker Capital’s capital market return assumptions for various major asset classes. BrinkerCapital’s capital market return assumptions are based on the long-term (10 years or longer if available) annualized returns, standard deviations and correlation coefficients of various capital market indices. Nopremium or discount to return based on any active portfolio management in the Recommended Investment Strategy was included in the projections. The resulting investment outcomes are hypothetical and donot reflect actual investment results or the impact of unforeseen events that may affect portfolio returns. No representation that your portfolio will achieve projected performance is intended and future returnsare not guaranteed. In certain years your annual withdrawal may exceed the total return on your portfolio resulting in a loss in principal. The Annual Withdrawal shown above includes a 3.00% increase eachcalendar year in order to account for inflation. The performance information reflects the deduction of a 1.00% annual advisory fee but no other expenses for services not covered by the advisory fee. Theadvisory fee shown is calculated by applying the proposed annual fee to the 50th percentile projected, inflation-adjusted market value. The actual advisory fee may be more or less than the fee reflected in theabove projection. Any additional fees and expenses will reduce the portfolio and your return. See the accompanying disclosure statement regarding performance results, benchmarks, the impact of fees andother information included in the investment strategy recommendation.Portfolio Value Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 1010th Percentile $253,371 $291,860 $330,680 $370,576 $410,972 $456,344 $506,557 $561,247 $618,228 $673,61450th Percentile $215,583 $230,500 $245,901 $263,362 $282,040 $300,692 $320,264 $343,074 $363,199 $388,48090th Percentile $177,453 $174,895 $176,995 $179,186 $184,327 $189,779 $195,751 $202,428 $209,069 $218,417Average Flow Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Fees ($2,176) ($2,348) ($2,537) ($2,738) ($2,947) ($3,175) ($3,420) ($3,697) ($3,974) ($4,279)Recommended Portfolio10-Year HorizonInitial Investment $200,000Average Annualized Return: 8.88%Standard Deviation: 14.81%Inflation Rate: 3%Annual Withdrawal (assumes 3%inflation):$0Annual Fee: 1.00%10% probability of an endingvalue of at least $673,61425% probability of an endingvalue of at least $520,58050% probability of an endingvalue of at least $388,48075% probability of an endingvalue of at least $288,33590% probability of an endingvalue of at least $218,417Projected Values
184195Brinker Capital, Inc., a Registered Investment Advisor 18Your Program FeesBased upon this proposal of $200,000.00, the blended fee payable to Brinker Capital for all assets in your Destinations accounts is 1.00% annualized.This blendedfee will vary based upon total account value (resulting from appreciation, depreciation, liquidations or additional contributions) inaccordance with Brinker Capital’s fee schedule for the Destinations program.Account Registration Investment Strategy Assets FeeValued Client IRA Destinations $200,000.00 1.00%Your fee covers the following costs associated with your investments: Compensation to Foresters Equity Services, Inc. and Mr. Donald T McNeill, Jr. for assisting in the development and ongoing monitoring of yourinvestment strategy Your investment strategy recommendations Regular rebalancing of mutual funds in your portfolio consistent with your investment strategy Customized quarterly reporting, monthly statements and trade confirmations Access to Brinker Capital Online Services All ongoing mutual fund due diligence provided by Brinker Capital Custody of the mutual fund assets in your portfolioThe total annual fee is exclusive of mutual fund expense ratios, which are set forth in the prospectus for each fund. A fund expense ratio represents thepercentage of the fund’s assets that go toward the expense of running the fund. A fund expense ratio reflects the fund’s investment advisory fee,administrative costs, distribution fees and other operating expenses, which are paid by the fund and reduce the fund’s net asset value.The fee set forth above is calculated using Brinker Capital’s current fee schedule for the Destinations program. Brinker Capital may change the feeschedule for any program on 30 days advance written notice to you.<|PDSFlexFeeDisc|>Brinker Capital will debit your account at the beginning of each quarter based on the previous quarter’s ending balance. Your initial quarterly fee will bepro-rated based upon the beginning value of your account and Brinker Capital will debit your account the month following your initial investment.
184195Brinker Capital, Inc., a Registered Investment Advisor 19Disclosure StatementOne-on-One Presentation: This report is exclusively for use in one-on-one presentations with sophisticated investors.Performance Data: All return calculations are in U.S. dollars and are gross of advisory fees payable to Brinker Capital and any other expenses not covered by theadvisory fee (see “Fees” section).Destinations: The performance returns provided for Destinations are composed of accounts that were open for the full period and are invested in mutual fundsaccording to the asset allocation policy for the recommended Investment Strategy. Detailed information regarding the Investment Strategy composite is available uponrequest. The composite returns are based on actual market values and are weighted accordingly. All calculations reflect the deduction of the respective fund’s internalmanagement fees and expenses but are gross (before deduction) of advisory fees payable to Brinker Capital, which will reduce an investor’s return. Certain fundsincluded in the performance information may no longer be available for purchase and may not be included in the recommended Investment Strategy. Brinker Capitalmay also determine to replace a fund due to a change in management or based upon Brinker Capital’s evaluation of the fund’s performance. Since Brinker Capitalretains full discretion to add or replace mutual funds in which the account is invested and to change the allocation among such funds, the historical performance of therecommended Investment Strategy may reflect the performance of mutual funds which are no longer included in the recommended Investment Strategy. Furthermore,past performance of the funds included in the recommended Investment Strategy is not a guarantee of future results or trends.Prior to December 2008 the Aggressive Equity Taxable Portfolio and Aggressive Equity Qualified portfolios were managed under the same investment mandate from theinitial strategy’s inception in January 1997. In December 2008 the portfolios were separated to provide the ability to better manage their different account tax status andtwo separate composites were created. The performance shown for the Aggressive Equity Taxable Portfolio prior to December 2008 reflects the performance of the twoproducts managed together under Aggressive Equity Portfolio. Brinker has provided this full performance history for illustrative purposes only.Mutual Fund Performance: Mutual Fund and Exchange Traded Fund (ETF) performance information is based upon published performance of the mutual funds orETFs, which must be calculated by the funds in accordance with rules and regulations promulgated by the Securities and Exchange Commission.Benchmarks: Brinker Capital constructs the benchmark to match, to the best of its ability, the components of the recommended Investment Strategy to the appropriateindices so as to reasonably parallel the asset allocation of the Investment Strategy. However, the benchmarks are not intended to parallel the risk or investment style ofany particular manager or mutual fund included in the recommended Investment Strategy or reflect guidelines, restrictions, correlations, concentrations, sectorallocations or volatility of the portfolio of any such manager or mutual fund. The benchmarks are provided for comparative purposes only and do not represent actualperformance. Figures for the indices reflect the reinvestment of dividends but do not reflect any management fees, transaction costs or expenses, which would reducereturns.The Destinations Relative Return-Blended Benchmark is a composite of the following indices weighted in accordance with the recommended Investment Strategy:R3000(78.4%), MSCI ACW ex. US(19.6%), T-Bill(2%) for the time period 1/1/89 to 12/31/07 and R3000(68.6%), MSCI ACW ex. US(29.4%), T-Bill(2%) for the timeperiod 1/1/08 to date. Effective 1/1/08, Brinker Capital increased the allocation to international securities for this Investment Strategy and adjusted the BlendedBenchmark to more closely parallel this revised asset allocation. Detailed information on the composition of each index included in the Blended Benchmark is availableupon request Indices are unmanaged and an investor cannot invest directly in an index.Fees: The performance information does not reflect the deduction of advisory fees payable to Brinker Capital and any other expenses for services not covered by theadvisory fee that an investor may incur, which will reduce a client’s return. Brinker Capital charges one comprehensive fee for investment management services, whichincludes manager and fund due diligence, asset allocation, manager fees, custody fees and trading expenses and Solicitor fees. Brinker Capital’s fee does not includethe internal management fees and operating expenses of mutual funds in which a client’s account is invested, which are reflected in the performance informationcontained herein.Brinker Capital’s fees are disclosed in Part II of its Form ADV. The net effect of the deduction of Brinker Capital’s fees on annualized performance, including thecompounded effect over time, is determined by the relative size of the fee and the account’s investment performance. The chart below depicts the effect of a 1%management fee on the growth of one dollar over a 10-year period at 10% (9% after fees) and 5% (4% after fees) assumed rates of return.
184195Brinker Capital, Inc., a Registered Investment Advisor 20Year 1 2 3 4 5 6 7 8 9 1010% 1.10 1.21 1.33 1.46 1.61 1.77 1.95 2.14 2.36 2.599% 1.09 1.19 1.30 1.41 1.54 1.68 1.83 1.99 2.17 2.375% 1.05 1.10 1.16 1.22 1.28 1.34 1.41 1.48 1.55 1.634% 1.04 1.08 1.12 1.17 1.22 1.27 1.32 1.37 1.42 1.48Portions of the analytical information within this proposal have been powered by Zephyr Web Analytics.The Hypothetical Total Return chart uses market indices to represent the various major and sub asset classes: The Dow Jones Wilshire 5000 Index represents USEquities, MSCI AC World ex/US Index represents foreign equities, Barclays Aggregate Index represents taxable fixed income, Barclays US Treasury 1-5 Yr representsshort US Treasuries, Barclays US Treasury 5-10 Yr represents intermediate US Treasury, Barclays US Treasury Long represents Long US Treasury, Citigroup 3 MonthTreasury Bill represents Cash, Merrill Lynch 3-7 Yr Muni represents municipal fixed income, Dow Jones Wilshire REIT represents US REITs, FTSE EPRA NAREITGlobal Index represents Global REITs, Dow Jones AIG Commodity represents Commodities, NCREIF Property Index represents private real estate, CreditSuisse/Tremont Hedge Fund Index represents absolute return, Cambridge Associates US Private Equity Index represents private equity and the Red Rocks ListedPrivate Equity Index represents listed private equity. The Cambridge Associates US Private Equity Index is comprised of limited partnership investments available onlyto Qualified Purchasers. The Red Rocks Listed Private Equity index reflects actual returns from January 2006 to present; returns prior to January 2006 are provided byRed Rocks Capital, LLC and represent backtested, hypothetical values calculated by reconstructing the index with companies that were included in the index asof inception (or at such time as a company had been public for one full quarter, if later) and re-weighting the index quarterly and do not represent actual indexperformance.
184195Brinker Capital, Inc., a Registered Investment Advisor 21Glossary of Investment Terms60/40 – 60/40 Portfolio is composed of 60% of the Russell 3000 / 40% Barclays Aggregate.Absolute Return – The total return that an asset achieves over a certain period of time. Absolute return differs from relative return because it is concerned with thereturn of a particular asset and does not compare it to any other measure or benchmark.Absolute Return Strategies – Strategies that seek to generate positive absolute return regardless of the direction of financial markets.Asset Allocation – The process of deciding how to apportion investment capital between the various possible asset classes: domestic equity, international equity, fixedincome, real assets, absolute return strategies, private equity, etc.Asset Class – Category of assets such as equities and fixed income, and their subcategories, including large cap, small cap, emerging markets, commodities, etc.Commodities – Basic raw materials and foodstuffs such as metals, petroleum, plantation crops, "softs,” such as coffee and sugar, and grains and agriculture.Due Diligence – The performance of those actions that are generally regarded as prudent, responsible and necessary to conduct a thorough and objective investigation,review and/or analysis.Emerging Market – Emerging markets generally do not have the level of market efficiency and strict standards in accounting and securities regulation to be on par withdeveloped economies, but emerging markets will typically have a physical financial infrastructure including banks, a stock exchange and a unified currency.Expense Ratio – A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual calculation, where afunds operating expenses are divided by the average dollar value of its assets under management.Global Macro – A strategy that bases its holdings—such as long and short positions in various equity, fixed income, currency, and futures markets—primarily on overalleconomic and political views of various countries’ macroeconomic principles.Growth Stocks – Stocks of companies that exhibit growth characteristics and have shown an ability to grow at a faster rate than other firms’.International Equities – Strategies that target either developed economies (e.g. Western Europe, Japan, Australia, Canada) or emerging economies (e.g. China, LatinAmerica, Eastern Europe).Large Cap – A company whose market cap typically exceeds $17 billion (using Russell Index methodology).Manager Tenure – The length of time a portfolio manager has been responsible for managing the specific investment strategy.Mid Cap – A company whose market cap is typically between $2 billion and $17 billion (using Russell Index methodology).Real Assets – Real assets consist of ownership interests in investment vehicles that typically invest in physical assets and exhibit a high correlation to inflation andprovide high levels of current cash flow. Real assets include real estate, commodities, timber, and oil and gas interests.Relative Return – The return that an asset achieves over a period of time compared to a benchmark or peer group. The relative return is the difference between theabsolute return achieved by the asset and the return achieved by the benchmark or peer group.Relative Value – Attractiveness measured in terms of risk, liquidity and return of one instrument
BiographiesThe Brinker Capitalleadership teamis committed todelivering innovativesolutions, qualityservice and value toour clients.Executive ManagementCharles Widger, Executive ChairmanMr.WidgeristhefounderofBrinkerCapitalandhasover30yearsofexperienceworkingwithinvestorsinstrategicinvestmentplanning,andmanagersearchandmonitoring.HeisapastchairmanoftheboardoftrusteesforGettysburgCollegeandischair-emeritusoftheMoneyManagementInstitute,the2.1trilliondollarmanagedaccountindustry’sassociation.HeisalsothechairmanoftheVillanovaUniversitySchoolofLawBoardofConsultors. HewaspreviouslychiefexecutiveofficeroftheMutualBenefitCapitalCompanies,firstvicepresidentwithVanKampen,MorrisStoneandavicepresidentatCIGNA.Earlierinhiscareer,hepracticedlawinPennsylvaniainprivatepracticeandasanassistantattorneygeneralforthePennsylvaniaDepartmentofJustice. Mr.Widgerisafrequentmarketandindustrycommentator,withhisthoughtshavingappearedintopoutletssuchasTheWallStreetJournal,Barron’s,theAssociatedPress,DowJones,InvestmentAdvisor,FundActionandmanyothers. Mr.WidgerisagraduateofGettysburgCollegeandVillanovaUniversitySchoolofLaw,andholdsanL.L.M.inTaxationfromBostonUniversity’sSchoolofLaw.HealsoservedasaLieutenantintheU.S.Navy.John E. Coyne, III, Vice ChairmanMr.CoyneleadsBrinkerCapital’sinitiativetobroadendistributionintonewmarketplaces,akeypartofthefirm’sstrategicplan. Heisthefirm’sprincipalspokespersonwiththenewsmediaandinvestmentadvisors. Healsooverseesthefirm’smarketingdepartment,socialmediagroupandtheSpecialtySalesGroup. Previously,Mr.CoyneservedaspresidentofBrinkerCapitalandwasresponsibleforpolicyandoversightforsales,marketing,andkeyaccountmanagement.Inaddition,JohnservedasChiefComplianceOfficerandhasheldavarietyofregionalandnationalsalespositionsatthefirm,includingthatofnationalsalesdirector.PriortojoiningBrinkerCapital,JohnheldinvestmentadvisoryandnationalsalespositionsatButcher&Singer,VanKampen,MorrisStone,FidelityLeasing,andMutualBenefitCapitalCompanies.Johnhas30yearsofindustryexperience. JohnisaboardmemberoftheMoneyManagementInstituteandtherecipientofits2011PioneerAward,chairmanemeritusandcurrentboardmemberforthePhiladelphiaChapterofTeachforAmerica andamemberofthePhiladelphiachapteroftheFinancialPlanningAssociation.Johnisafrequentspeakerandhostatindustryconferencesandhasbeenquotedextensivelyintopfinancialandadvisormedia. InadditiontoappearancesonFoxBusinessNewsandFoxBusiness’s“CavutoonBusiness”,John’sthoughtshaveappearedinTheWallStreetJournal,Newsweek,InvestmentNews,RegisteredRep,FundFire,MoneyManagementExecutive andothers.JohnisagraduateofMountSt.Mary’sUniversity.HealsoattendedTempleUniversityGraduateSchool. JohnisatrusteeofMountSt.Mary’sUniversityandchairmanofitsEndowmentcommittee.Noreen D. Beaman, CPA, Chief Executive OfficerMs.BeamanisthechiefexecutiveofficerofBrinkerCapital,Inc.andBrinkerCapitalSecurities.Ms.Beamanisresponsiblefordevelopingandexecutingthefirm’sdetailedoperatingplanandfortheoversightofthecompany’sshortandlongtermstrategies. Previously,Ms.Beamanservedasthefirm’schiefoperatingofficerresponsibleforpolicyandoversightofoperations,administration,performance,reconciliation,technologyandhumanresources.Noreenhasmorethan20yearsofinvestmentexperienceworkingwithfinancialadvisorsandinstitutionalandhighnetworthinvestorsinstrategicplanningandinvestmentmanagement.Additionally,sheisamemberofthefirm’sinvestmentmanagementandfinancecommittees.AsoneofBrinkerCapital’soriginalpartners,Noreenpreviouslyheldavarietyofregionalandnationalsalespositionsatthefirm,includingnewbusinessdevelopmentandclientserviceinNewYorkandNewJersey;andwasalsothefirm’schieffinancialofficer.Noreenisafrequentspeakeratindustryconferencesandhasbeenquotedextensivelyintopfinancialandadvisormedia.PriortojoiningBrinkerCapital,NoreenwastreasureratMutualBenefitCapitalCompanies,asubsidiaryofMutualBenefitLifeInsuranceCompany. ShealsoworkedatErnstandYoung.Ms.BeamanisagraduateofSaintPeter’sCollegeandisamemberoftheirBoardofRegents.Brinker Capital, Inc., a Registered Investment Advisor. Brinker_Bios
Leo J. Dolan, Jr., Principal and National Sales DirectorMr.DolanisakeyseniormanagerandthenationalsalesdirectorforBrinkerCapitalasitachievesmajorgrowthwithanexpandedarrayofproductsandservices.Inaddition,heisamemberoftheInvestmentCommitteeandafrequentspeakeroninvestmenttopics.From1995to2001,Mr.DolanservedasseniorvicepresidentandoperatingheadoftheInvestmentAdvisoryGroupatSEIInvestments.Whilethere,hehelpedtransformasmallunitintoahighlyprofitable$25billiondivisionwiththeindustrysleadingmutualfundprogram.Earlier,hehelpedstartandcreateauniquebusinessmodelforSEIsnow$500billionfundadministrationgroup. Priortohis20yearsofinvestmentindustryexperience,Mr.Dolanhadanextensive,diversifiedcareerincludingmanagementpositionsatScottPaperCompany,BeechNutFoods,theColonialPennGroup,andUnitedHospitals.Inaddition,asownerofamarketingfirm,hehelpeddevelopbusinessandmarketingstrategiesthatledtoinitialpublicofferingsandstronggrowthforcompaniessuchasU.S.Healthcare,Nutri/SystemandBaldwin,Inc.Mr.DolanholdsaB.S.fromSaintJosephsUniversityandanM.B.A.fromTheWhartonSchooloftheUniversityofPennsylvania.Heisalsoaformernavalofficer.Sheila Bonitz, Vice President of Investment ManagementSheilahasspentover18yearsfocusedondevelopingtechnologyandproductsolutionstohelpmeettheneedsoffinancialinstitutions,advisorsandinvestors.Inhercurrentrolessheisinvolvedwithnewproductlaunchesandenhancements,regulatoryitemsandoverseestheadministrativeaspectsoftheInvestmentDepartment.SheilastartedhercareeratBrinkerCapitalin1999asamarketingcoordinator. DuringhertimeatBrinkerCapital,shealsoservedasdirectorofonlineserviceswhereshewasresponsibleforoverseeingthecontinuousdevelopmentofthecompany’swebsite. Sheilathenservedasthedirectorofstrategicplanning,responsiblefordevelopingnewproductsolutionsandenhancingexistingsolutions. PriortoBrinkerCapital,SheilaworkedatSEIasaproductplanner. ShegraduatedfromMillersvilleUniversitywithaB.S.inComputerScienceandaminorinBusinessAdministration.SheobtainedherM.B.AfromSaintJoseph’sUniversity. Inaddition,sheholdsFINRA6and63licenses.Avery Cook, CIMA®, Vice President of Strategic PlanningWithover15yearsofindustryexperience,Averyisprimarilyresponsiblefortheevaluation,implementationandmaintenanceofproductofferingsatthefirm. PriortohiscurrentroleatBrinkerCapital,Averyservedinvariouspositionswithinthefirm’sPerformance&Reconciliation,Pricing,ClientServices,andOperationsdepartments.AveryisagraduateofHamiltonCollege,wherehemajoredinEconomicsandComputerSciencewithaminorinGovernment.AveryholdstheCIMA®designationandalsoearnedaLeanSixSigmacertificatefromVillanovaUniversity. Inaddition,heholdsFINRAseries7,24,53,63and65,licenses.Outsidetheoffice,heenjoyscoachinghighschoollacrosseandplayinggolf.Philip F. Green, Jr., Chief Financial OfficerPhilisresponsibleforallfinancialoperationsofthefirm. HealsooverseestheRegisteredInvestmentAdvisorServicesDepartment,focusingonprovidingsolutionsandsupporttothatmarketplace,andisalsoamemberoftheKeyManagementTeam. PhilhasbeenwithBrinkerCapitalfor11yearsinvariouscapacitiesofoperations,financeandaccounting. Hehas21yearsofindustryexperiencewhichincludespriorworkatanumberoflargefinancialandinsuranceinstitutionsinthecommercialunderwritingdisciplinesincludingAIG,LibertyMutual,andCitibank/Travelers. HereceivedhisB.S.inFinanceandEconomicsfromPennsylvaniaStateUniversityandhisM.B.A.fromVillanovaUniversity. Inaddition,PhilipholdshisFINRAseries7and27licenses. HesitsonthetechnologyboardattheSt.EleanorSchool,inCollegeville,PA,andisalsoamemberoftheMMI,themanagedaccountindustry’sassociation.Philipenjoysreading,biking,skiing,hiking,basketball,andrunning.Brendan McConnell, Vice President, Business AdministrationWithover13yearsofindustryexperience,Brendanisprimarilyresponsiblefortheoversightofinitiativesintheareasofclientexperienceandtechnologyacrossthefirm.BrendanisamemberofBrinkerCapital’sOperating,TechnologyandCustodianCommittees,whichdevelopandimplementstrategiestoimproveoperationalandinfrastructureefficienciesthroughoutthecompany. BrendanalsooverseestheClientService,PerformanceandReconciliation,andAccountAdministrationdepartments. Hehasseveralyearsofexperienceasanoperationsmanager,wherehewasresponsibleforalloperationalaspectsofthefirm’srelationshipwithFidelityIWSandNationalFinancial,LLC. BrendanisagraduateofSaintJoseph’sUniversity. HeisalsocertifiedthroughVillanovaUniversityasabusinessanalystandinLeanSixSigmaalongwithholdingFINRAseries7,63and65licenses. Heenjoysspendingtimewithhisfamily,reading,runningandplayinggolf.Leo J. Dolan, Jr.Sheila BonitzAvery CookPhilip F. Green, Jr.Brendan McConnellBrinker Capital, Inc., a Registered Investment Advisor.Executive Management, Continued
William H. Miller, Chief Investment OfficerAsCIOofBrinkerCapital,Billchairsthecompany’sinvestmentcommitteeandsetstheinvestmentphilosophyandprocessforBrinkerCapital. Heisalsoresponsibleforassetallocation,managerselectionandreview,andalternativeinvestments.Bill’sinvestmentexperienceofalmost30yearsincludesthemanagementandlaunchofNationwideInsurance’sInvestorDestinationSeriesofpassiveassetallocationfunds,andOptimalFunds,whichisanactivemanagementproduct.BillinitiallyjoinedtheConshohocken-basedinvestmentoperations,ofNationwide,asinterimchiefinvestmentofficer.BillalsoheldseniorinvestmentpositionsatPutnamInvestmentsandDelawareCapitalManagement.HeholdsaB.A.inEconomicsfromTrinityCollege.Amy Magnotta, CFA, Senior Investment ManagerAmyhasportfoliomanagementresponsibilitiesforBrinkerCapital’smutualfundprogram,Destinations,andisinvolvedinbothassetallocationandinvestmentmanagerselectiondecisions.Shealsowritesperiodicmarketandeconomiccommentaryandoutlookpieces.Shehasover12yearsofindustryexperienceandwaspreviouslyemployedasaconsultantforFranklinParkAssociates,LLC,wheresheselectedprivateequityinvestmentsforinstitutionalclients. PriortothatsheservedinafixedincomeproductmanagementandinstitutionalclientserviceroleatBlackRock,Inc.AmygraduatedfromLehighUniversitywithaB.S.inFinanceandisaCFAcharterholder.SheisamemberofCFAInstituteandtheCFASocietyofPhiladelphia.Stuart P. Quint, III, CFA, Senior Investment Manager and International StrategistStuarthasover20yearsofexperienceanalyzingandmanaginginvestmentportfoliosindevelopedandemergingmarkets. HisresponsibilitiesatBrinkerCapitalentailassetallocationandmanagerselectionforthefirm’sCoreSMAproduct. Additionally,headvisesthefirminformulatingitsinternationalinvestmentstrategyandcommunicatingwithclients. PriortoBrinkerCapital,StuartspentsixyearsatAberdeenAssetManagement(formerlyGartmoreGlobalInvestments)asaninvestmentmanager,wherehewasresponsibleforaglobalfinancialfundinvestedinemerginganddevelopedmarkets. HealsoworkedinvariousportfoliomanagementrolesinvolvingemergingmarketsatLFCapital/FriendsIvorySimeandMontgomeryAssetManagement. HiscareerstartedasanequityanalystatSanfordC.BernsteinandCompany,followingthesavingsandloanindustry. StuartgraduatedcumlaudewithaB.S./B.A.dualdegreefromtheUniversityofPennsylvania. HealsostudiedabroadinRussiaandMexicoandbecamefluentinRussianandSpanish. Inaddition,StuartholdstheCFAdesignationandisamemberoftheCFAInstitute.Jeff Raupp, CFA, Senior Investment ManagerWithover17yearsofinvestmentexperience,JeffisprimarilyresponsiblefortheportfoliomanagementforBrinkerCapital’smutualfundandretirementplanservicesprograms.JeffisalsoamemberofBrinkerCapital’sOperatingCommittee,whichdevelopsandimplementsstrategiestoimproveoperationalefficienciesthroughoutthecompany. Priortohiscurrentrole,JeffservedastheoperationsmanagerforBrinkerCapitalandwasinchargeofalloperationalaspectsofthefirm’srelationshipwithFidelityandNationalFinancialServices,LLC. BeforejoiningBrinkerCapital,Jeffwasemployedasanelectronicengineerandprojectmanagerforasmallelectronicsfirm. HealsoservedasanofficerintheUnitedStatesArmy. JeffhasaB.S.inMechanicalEngineeringfromtheUniversityofDelawareandaM.B.AinFinancefromVillanovaUniversity. Inaddition,heiscertifiedinLeanSixSigmathroughVillanovaUniversityandholdsFINRAseries7and66licenses.HeisamemberoftheCFAInstituteandtheCFASocietyofPhiladelphia,Inc.Andrew Rosenberger, CFA, Senior Investment ManagerAsamemberofBrinkerCapital’sDueDiligenceteam,AndrewservesastheseniorportfoliomanageronthePersonalPortfoliosproductaswellastheco-portfoliomanagerontheBrinkerCapitalCrystalStrategy. Additionally,heisresponsiblefortheinvestmentoversightofBrinkerCapital’sPersonalizedDistributionandDollarValueAveragingStrategies. Andrew’spriorexperienceatBrinkerCapitalincludesthepositionofquantitativeinvestmentmanager,wherehewasresponsibleforthequantitativeanalysisofeconomicandcapitalmarkettrends,portfolioriskanalysis,assetallocation,andinvestmentstrategyselection. Priortothat,heservedasamemberoftheInstitutionalInvestments&PrivateClientGroup,wherehisresponsibilitiesincludedassetallocation,clientperformanceandattributionanalysis,clientaccountmanagement,andinvestmentpolicystatementanalysis.HeearnedhisB.S.degreeinEconomicsfromthePennsylvaniaStateUniversity.AndrewisaCFAcharterholderandamemberoftheCFASocietyofPhiladelphia.HealsoholdshisSeries7and65licenses.William H. MillerAmy MagnottaStuart P. Quint, IIIJeff RauppAndrew RosenbergerBrinker Capital, Inc., a Registered Investment Advisor.Investment Team
David A. IxMichael F. FrasconeEdward KellyDavid A. Ix, PrincipalDavidisresponsiblefornewbusinessdevelopmentandclientserviceinPennsylvaniaandNewJersey.Previouslyasdirectorofoperations,heoversawthefirmstradingandaccountadministration,aswellastheoperationaldevelopmentofBrinkerCapital’smutualfundprograms. Priortojoiningthecompany,DavidwaswithTheBostonSafeDeposit&TrustCompany,whereheplayedakeyroleindesigningthefirm’sforeigncurrencyandcustodyoperations. Hehas25yearsofindustryexperienceandholdsFINRAseries7,63,and65licenses.DavidisacumlaudegraduateofBostonCollege.Heenjoysparticipatinginhischildren’sactivitiesaswellasgolfing,skiing,andmusic.Michael F. Frascone, CIMA®, Regional DirectorMichaelisresponsiblefornewbusinessdevelopmentandclientserviceinthemetroNewYorkarea. PriortocoveringmetroNewYork,Michaelspent10yearsasRegionalDirectorintheMidwest.HispreviousrolesatBrinkerCapitalincludeinternalinvestmentconsultant,coveringmetroNewYorkandNewJersey,andinvestmentstrategyanalyst,responsiblefordesigninginvestmentstrategiesandpreparingcustomizedproposalsforclients. MichaelwaspreviouslyemployedbyNewEnglandSecuritiesasaregisteredrepresentative.HeholdsFINRAseries6,7,and66licenses.Inaddition,heisamemberoftheInvestmentManagementConsultantsAssociationandwasawardedaCertifiedInvestmentManagementAnalyst(CIMA®)designationin2004. MichaelisagraduateofthePennsylvaniaStateUniversity,withover14yearsofexperienceintheinvestmentindustry.Edward Kelly, Regional DirectorEdisresponsiblefornewbusinessdevelopmentandclientserviceintheMidwest. Hehasover20yearsofexperienceinthefinancialservicesindustry. PriortojoiningBrinkerCapital,EdservedasseniorregionalconsultantforGenworthWealthManagement,aswellasvicepresidentofsalesforAtlanticTrust. EdalsoheldpositionsatNationwideandCurianCapital. HeholdsFINRAseries7,63and66licensesandisagraduateofVillanovaUniversity. Heenjoysgolfing,basketballandspendingtimewithhiswife,Jody,andtwochildren,SophiaandEd.Dan McGovern, CIMA®, Regional DirectorDanhasbeenwithBrinkerCapitalforover15yearsandhas18yearsofindustryexperience. DanisresponsiblefornewbusinessdevelopmentandclientserviceinTexas,Oklahoma,Arkansas,LouisianaandNewMexico. HealsohelpedpioneerBrinkerCapital’sdevelopmentontheWestCoast. Priortobecomingregionaldirector,Danwasaninternalinvestmentconsultant,coveringtheWesternregionofthecountry. HealsoworkedinBrinkerCapital’sadvisorservicesgroupandoperationsdepartment. PriortojoiningBrinkerCapital,DanwasemployedbyTheVanguardGroupasaregisteredrepresentative. HeholdsFINRAseries7,63and65licenses.Inaddition,heisamemberofInvestmentManagementConsultantsAssociationandwasawardedtheCertifiedInvestmentManagementAnalyst(CIMA)designationin2006. HeisagraduateofUrsinusCollegewithaB.A.inEconomics. Heenjoysgolfing,mountainbikingandspendingtimewithhiswife,Rose,andtheirtwodaughters.Mitchell J. Mellen, Regional DirectorWithover25yearsofinvestmentexperience,MitchmanagesnewbusinessdevelopmentandclientserviceinIndiana,Kentucky,MichiganandOhio.Overhis25yearcareer,MitchhasheldnumerousexecutivepositionsinthefinancialservicesindustryincludingPresidentofDistribution,ING,DirectorofSales, StrongCapitalManagement,andNationalSalesManager,MainstayFunds. Mr.MellenisagraduateoftheUniversityofWisconsinatMadisonwithadegreeinPsychologywithanemphasisinEconomics.Mitchholdsthe7,24,63,65,66,and201licenses. Mitchhasfourchildrenages11-17andisanavidsportsfan,golfer,skierandoutdoorsman.Brinker Capital, Inc., a Registered Investment Advisor.Regional Sales DirectorsDan McGovernMitchell J. Mellen
Glenda A. Pemble, CFP®, CIMA®, Regional DirectorWithover24yearsofinvestmentexperience,GlendamanagesnewbusinessdevelopmentandclientserviceintheRockyMountainregionandNorthwest. PriortojoiningBrinkerCapital,GlendawasseniorvicepresidentatMountYaleCapitalGroup,inchargeofsalesandservicingthefirm’skeyadvisoryrelationships. SheworkedseveralyearswithErnstandYoung,inchargeoftheChicagoareainvestmentconsultingpractice. AtErnstandYoung,shewasamemberoftheNationalInvestmentCommittee. Previously,Glendaheldsalesandservicepositionsatseveralfinancialplanningfirms,workingwithcorporateclientssuchasHewlettPackard,JohnDeere,StateFarmInsuranceandMcDonaldsCorporation. GlendaisagraduateoftheUniversityofWisconsinandholdstheCFP®,CIMA®andFINRAseries7and66licenses. SheisamemberoftheFinancialPlanningAssociationandInvestmentManagementConsultantsAssociation. Glendaenjoystraveling,golfing,biking,skiingandhiking.Jason M. Shevland, CIMA®, Regional DirectorJasonisresponsiblefornewbusinessdevelopmentandclientserviceinNewEnglandandupstateNewYork. Hehas16yearsofindustryexperience,includingayearofserviceatTheVanguardGrouppriortojoiningBrinkerCapitalasaninvestmentstrategist.JasonbecametheregionaldirectorinPennsylvaniaandNewJerseyin2000andtransitionedintotheNewEnglandterritoryin2003.JasonholdsFINRAseries6,7,and66licenses.HeisamemberoftheFinancialPlanningAssociationofMassachusettsandtheInvestmentManagementConsultantsAssociationandwasawardeditsCertifiedInvestmentManagementAnalyst(CIMA®)designationin2003. JasonisacumlaudegraduateofBostonCollegeandanactivememberoftheBCClub. Heenjoysgolf,skiingandspendingtimewithhiswife,Robin,anddaughters,MaggieandAlex.John Solomon, Southeast Region Manager, Regional DirectorJohnisresponsiblefortheoversightanddevelopmentofadvisorrelationshipsintheSoutheastregionoftheUnitedStates.Hismainroleishelpingadvisorsbuildaprofitablebusinesswithafocusonacquiringnewclientsandhelpingthemmeettheirmostimportantgoals.Hehasover25yearsofexperienceinthefinancialservicesindustry.PriortojoiningBrinkerCapital,JohnwasseniorvicepresidentofsalesandclientserviceatInvestorForce,Inc.Healsospent11yearsatSEIInvestments,workingwithRIAsandlargeBankingInstitutions.JohnisagraduateoftheUniversityofPittsburgh,withaB.S.inAppliedMathematics,andhasalsocompletedcoursesatTheWhartonSchoolofBusinessaspartofitsExecutiveEducationprogram.HeholdsFINRAseries7and66licenses.Johnenjoysspendingtimewithhiswife,Michelle,son,Bradanddaughter,Delaney.InhissparetimeheumpiresNCAAbaseball.George B. Wrightnour, Jr. (Bay), Western Region Manager, Regional DirectorBayhasover10yearsofexperiencewithBrinkerCapital. HecurrentlyresidesinManhattanBeach,CAandisresponsiblefortheoversightanddevelopmentofsalesintheWesternregionoftheUnitedStates. Additionally,BayservesastheregionaldirectorforSouthernCaliforniaandthePacificSouthwestandisinchargeofnewbusinessandclientserviceinthatarea. Priortothis,Baywasaninvestmentstrategyanalyst,associatenationalsalesdirector,andrelationshipmanageronthecorporatebusinessdevelopmentteamwithBrinkerCapital.HeholdsFINRAseries7and66licenses.BayisagraduateofHobartCollegewithaB.S.inEconomicsandaminorinEnglish. Heenjoystraveling,swimming,skiingandsailing.Glenda A. PembleJason M. ShevlandJohn SolomonBay WrightnourBrinker Capital, Inc., a Registered Investment Advisor.Regional Sales Directors, Continued
Jean Lynch, CIMA®, Managing Director, National AccountsWithover15yearsofindustryexperience,JeanoverseesBrinkerCapital’sbroker/dealerandregisteredinvestmentadvisorrelationships.Sheisalsoresponsibleforthemanagementandimplementationofthenationalsalesandmarketingbudgets.AtBrinkerCapital,Jeanpreviouslyworkedasasalesassociate,coveringmetropolitanNewYorkandNewJersey.JeanwaspreviouslyemployedbyPanasonicintheCorporateCommunicationsDepartment,andawriterforWWOR-TVChannel9NewsinNewYorkandasawriter/producerforABCaffiliateKTNV-TVChannel13News.JeanholdsFINRAseries7and66licensesandaB.A.fromNewJerseyCityUniversity.SheisamemberoftheInvestmentManagementConsultantAssociationandwasawardeditsCertifiedInvestmentManagementAnalyst(CIMA®)designationin2008. Jeanenjoysrunning,reading,andspendingtimewithherfamily.Jeffrey A. Wirosloff, Managing Director, National AccountsJeffoverseesBrinkerCapital’sbroker/dealerandregisteredinvestmentadvisorrelationshipsandisalsoamemberoftheKeyManagementTeam. Previously,JeffmanagedbothBrinkerCapital’sadvisorservicesteamandBrinkerCapital’steamofinternalinvestmentconsultants. Withover22yearsofindustryexperience,JeffhasheldmanagerialpositionswithTheKillenGroup/BerwynFundsandRodneySquareManagement,asubsidiaryofWilmingtonTrust,wherehewasresponsibleforthefirm’sclientrelationshipmanagement. HewasalsoemployedwithTheVanguardGroupandPFPC. JeffholdsFINRAseries6and63licensesandaB.S.B.A.fromtheUniversityofDelaware. Heenjoysspendingtimewithhiswife,Beth,andson,Mitchell.Michael Brady, CIMA®, RIA Relationship ManagerWithover12yearsofindustryexperience,Mikemanagesseveralofthefirm’slargestadvisoryclients. HehasheldavarietyofsalesandoperationspositionsatBrinker,mostrecentlyhewastheRegionalDirectorfortheSoutheastterritorycoveringNC,SC,AL,MS,&GA.MikewaspreviouslyresponsibleformanagingtheinternalsalesdeskinBrinker’shomeofficewhereheplayedakeyroleindevelopingandmaintainingrelationshipswithfinancialadvisors. PriortoworkingwithBrinkerCapital,MikeworkedwithclientserviceteamatPlymouthRockAssuranceCorporationinBoston,MA. MikeisagraduateofWestVirginiaUniversitywithaB.A.inEconomics. HeholdstheFINRASeries7and66licenses.In2007,hewasawardedtheCertifiedInvestmentManagementAnalyst(CIMA®)designationandisamemberoftheInvestmentManagementConsultantsAssociation.In2010,MikealsoreceivedtheLeanSixSigmacertificationthroughVillanovaUniversity. Outsideoftheoffice,heenjoysplayingsports,traveling,andspendingtimewithhisfamily.Thomas K.R. Wilson, CFA, Senior Investment Manager and Managing DirectorTomoverseestheCoreAssetManagementProgramaswellastheinstitutionalandhighnetworthclientsatBrinkerCapital.AsamemberofBrinkerCapital’sInvestmentCommittee,hedirectstheimplementationofthefirm’sinvestmentphilosophyanddisciplineinclientportfolios. TombeganhiscareeratBrinkerCapitalasthevicepresidentoftheInvestmentManagementGroupwherehesupervisedtheDueDiligence,PerformanceMeasurement,InvestmentStrategy,RelationshipManagement,andNewAccountsdepartments. PriortoBrinkerCapital,TomwasthevicepresidentofDavidsonCapitalManagement,whereheservedasaportfoliomanagerforinstitutionalandhighnetworthaccountsandwasalsoanequityanalystcoveringthetelecommunicationsandtechnologysectors.Tomisafrequentinvestmentandassetallocationcommentator. Hisviewscanbefoundinvariousbusinessnewsmedia,includingTheWallStreetJournal,theAssociatedPress,BloombergU.S.,BloombergAsia,Comcast’sMoneyMatters,FOXNews,Businessweek,andFoundation&EndowmentMoneyManagement. Inaddition,heisamemberoftheFinancialAnalystsofPhiladelphiaandtheCFAInstitute.TomisanhonorsscholarandsummacumlaudegraduateofJamesMadisonUniversitywithaB.A.inEconomics. Heenjoysweightlifting,jogging,andcoachingyouthwrestling.Jennifer P. Kulp, CIMA®, Principal and Managing Director of Wealth Management ServicesWith18yearsofindustryexperience,JenisresponsiblefortheSalesandMarketingAdvisorSupportforBrinker’sInstitutionalandPrivateClientGroupwithafocusonthe$2millionto$10millionmarketsegment. Previously,JenwasresponsiblefornewbusinessdevelopmentandclientserviceinthemetroNewYorkarea,andhelpedpioneerBrinkerCapital’sdevelopmentontheWestCoast.ShewasalsoamarketingcoordinatorwithBrinkerCapitalandworkedwithmanyofthefirm’sprimarybroker/dealerrelationships.Herresponsibilitiesincludeddailyinteractionwithhomeofficepersonnelandimplementationofthefirm’smarketingplan.InJen’searlyyearsatBrinkerCapital,sheworkedasaninvestmentstrategyanalyst,wheresheintroducedadvisorstoBrinkerCapitalanddesignedcustomizedassetallocationstrategiesfortheirclients.JenholdsFINRAseries7and66licenses.SheisalsoamemberoftheInvestmentManagementConsultantsAssociationandwasawardeditsCertifiedInvestmentManagementAnalyst(CIMA®)designationin2003.SheisagraduateofBostonCollege.Sheenjoysspendingtimewithherhusbandandsons,cookingandrunning.Jean LynchJeffrey A. WirosloffThomas K.R. WilsonJennifer P. KulpBrinker Capital, Inc., a Registered Investment Advisor.National AccountsInstitutional Investments and Wealth ManagementMichael Brady
W. Byron McClennen, CIMA®, Director, Institutional Investments and Private Client GroupByronisresponsibleforconsultingandcommunicatingwithBrinkerCapital’sinstitutionalandhighnetworthclients. Hehasover15yearsofexperienceinthefinancialservicesindustry.WhileatBrinkerCapital,hehasservedasregionaldirector,internalinvestmentconsultant,investmentstrategyanalystandcorporatetrainerworkingwithBrinkerCapital’skeybroker/dealerandinvestmentadvisorrelationships. PriortojoiningBrinkerCapital,ByronwasemployedbyTheVanguardGroupintheirbrokeragedivision. HeholdsFINRAseries7and66licenses. ByronisamemberoftheInvestmentManagementConsultantsAssociationandwasawardeditsCertifiedInvestmentManagementAnalyst(CIMA®)designationin2008. HeisagraduateoftheUniversityofDelawareandenjoysmovies,sports,andspendingtimewithhisfamily.William P. Simon, Jr., Managing Director, Retirement Plan Services and Investment ServicesBillisresponsibleforthemanagement,guidanceandexpansionoftheRetirementPlanServicesteamandprogram.Healsoservesonthefirm’smanagementandoperatingcommittees.Billhasmorethan30yearsofinvestmentexperienceworkingwithfinancialadvisors,plansponsorsandinstitutionalandhighnetworthinvestorswithaspecializedfocusinsalesanddistribution.Priortojoiningthefirm,heservedasmanagingpartneratPPBAdvisors,LLC.wherehewasresponsibleforbuildinganalternativesecuritiesstart-up. Previously,Mr.Simonspent22yearsatAmericanFunds,whereheheldavarietyofseniorpositionsincludingdivisionmanager–MidAtlantic,andnationalsalesmanagerfortheEasternU.S. BillalsoheldpositionsatVanKampenMerritt,andwithFederatedInvestors,wherehebeganhiscareer. BillgraduatedfromtheUniversityofPittsburghwithaB.A.inEconomicsandholdsSeries7,65,63and26licenses. BillservesaschairmanoftheboardoftrusteesfortheCornerstoneChristianAcademyofPhiladelphiaandisamemberoftheboardforYoungLife,LibertyRegion. Billalsoenjoysgolfandsquashandspendingtimewithhiswifeandthreechildren.Timothy A. Chisholm, Retirement Plan Services Regional DirectorTimisresponsiblefornewbusinessdevelopmentandclientservicefortheretirementplanservicesdivision. Hehasover10yearsofexperienceinthefinancialservicesindustry.PriortojoiningBrinkerCapital,TimwasemployedbyMFSInvestmentManagement,wherehewasresponsibleforinstitutionalbusinessdevelopment. HeholdsFINRAseries6,7,63,65licenses. TimisamemberoftheInvestmentManagementConsultantsAssociationandagraduateofTrinityCollege.Heenjoysbasketball,golfandspendingtimewithhisfamily.Paul J. Cook, Retirement Plan Services Regional DirectorPaulisresponsiblefornewbusinessdevelopmentandclientservicefortheretirementplanservicesdivision. Hehasover17yearsofexperienceinthefinancialservicesindustry.PriortojoiningBrinkerCapital,PaulservedasthevicepresidentofretirementservicesfortheUSIConsultingGroup,wherehewasresponsiblefordevelopingbusinessstrategiesforacquiringnewclients. PaulhasalsoheldwholesalesalespositionsatStancorpEquities,Inc.andSEIInvestments.HeholdsFINRAseries7,63and65licenses.PaulisagraduateofthePennsylvaniaStateUniversity.Heenjoysgolfing,bikingandspendingtimewithhiswife,Stacia,andtwosons,CameronandGavin.W. Byron McClennenWilliam P. Simon, Jr.Timothy A. ChisholmPaul J. CookBrinker Capital, Inc., a Registered Investment Advisor.Institutional Investments, ContinuedRetirement Plan ServicesGregory KeckGregory Keck, Director, Institutional Investments and Private Client GroupAsamemberoftheInstitutionalInvestmentsandPrivateClientGroup,GregisresponsibleforconsultingandcommunicatingwithBrinkerCapital’sinstitutionalandhighnetworthclients. GregworksinconjunctionwithBrinkerCapital’sDueDiligenceGrouptocommunicateBrinkerCapital’sinvestmentphilosophyandimplementcurrentinvestmentstrategies. Additionally,Gregmonitorsportfoliosforadherencetoinvestmentstrategyguidelinesandprovidesinstitutionalclientswithperiodicperformancereviews.Greghasover17yearsofindustryexperience,mostrecentlyasaseniorinvestmentanalystinBrinkerCapital’sDueDiligenceGroup,wherehisresponsibilitiesincludedinitialandongoingduediligencefortheseparatelymanagedaccountprogram. PriortoBrinkerCapital,GregheldpositionswithVanKampenFundsandTheVanguardGroup. GreggraduatedfromMoravianCollegewithaB.A.inBusinessManagementandisFINRAseries7,63and65licensed.
William P. Simon, Jr., Managing Director, Retirement Plan Services and Investment ServicesBillisresponsibleforthemanagement,guidanceandexpansionoftheRetirementPlanServicesteamandprogram.Healsoservesonthefirm’smanagementandoperatingcommittees.Billhasmorethan30yearsofinvestmentexperienceworkingwithfinancialadvisors,plansponsorsandinstitutionalandhighnetworthinvestorswithaspecializedfocusinsalesanddistribution.Priortojoiningthefirm,heservedasmanagingpartneratPPBAdvisors,LLC.wherehewasresponsibleforbuildinganalternativesecuritiesstart-up. Previously,Mr.Simonspent22yearsatAmericanFunds,whereheheldavarietyofseniorpositionsincludingdivisionmanager–MidAtlantic,andnationalsalesmanagerfortheEasternU.S. BillalsoheldpositionsatVanKampenMerritt,andwithFederatedInvestors,wherehebeganhiscareer. BillgraduatedfromtheUniversityofPittsburghwithaB.A.inEconomicsandholdsSeries7,65,63and26licenses. BillservesaschairmanoftheboardoftrusteesfortheCornerstoneChristianAcademyofPhiladelphiaandisamemberoftheboardforYoungLife,LibertyRegion. Billalsoenjoysgolfandsquashandspendingtimewithhiswifeandthreechildren.Gregory G. Vradenburg, CFP®, Principal and Managing Director, Investment ServicesGregisresponsiblefortheoversightanddevelopmentofBrinkerInvestmentServices,givingBrinkerCapitalinvestmentproductsandsalessupportbroaderaccesstoadditionalplatforms.PriortothisroleGregwasresponsiblefornewbusinessdevelopmentandclientserviceintheMidwest..Hehasbeenintheinvestmentbusinessformorethan35years,specializinginmanagedmoneyforthelast29years. Previously,heheldsalesandmanagementpositionsatBache&Co.andJ.C.BradfordCo. HealsoservedasfirstvicepresidentofanationalbrokeragefirmandasvicepresidentofinvestmentsforalargeMidwesternpropertyandcasualtycompany.HeholdsFINRASeries7,24,39,63and65licensesandwasawardedtheCertifiedFinancialPlanner(CFP®)designationin1982.GregisagraduateofFranklinUniversity. Heenjoystravelingwithhisfamily,reading,golfandexercising.Jean Lynch, CIMA®, Managing Director, National AccountsWithover15yearsofindustryexperience,JeanoverseesBrinkerCapital’sbroker/dealerandregisteredinvestmentadvisorrelationships.Sheisalsoresponsibleforthemanagementandimplementationofthenationalsalesandmarketingbudgets.AtBrinkerCapital,Jeanpreviouslyworkedasasalesassociate,coveringmetropolitanNewYorkandNewJersey.JeanwaspreviouslyemployedbyPanasonicintheCorporateCommunicationsDepartment,andawriterforWWOR-TVChannel9NewsinNewYorkandasawriter/producerforABCaffiliateKTNV-TVChannel13News.JeanholdsFINRAseries7and66licensesandaB.A.fromNewJerseyCityUniversity.SheisamemberoftheInvestmentManagementConsultantAssociationandwasawardeditsCertifiedInvestmentManagementAnalyst(CIMA®)designationin2008. Jeanenjoysrunning,reading,andspendingtimewithherfamily.Sheila Bonitz, Vice President of Investment ManagementSheilahasspentover18yearsfocusedondevelopingtechnologyandproductsolutionstohelpmeettheneedsoffinancialinstitutions,advisorsandinvestors.Inhercurrentrolessheisinvolvedwithnewproductlaunchesandenhancements,regulatoryitemsandoverseestheadministrativeaspectsoftheInvestmentDepartment.SheilastartedhercareeratBrinkerCapitalin1999asamarketingcoordinator. DuringhertimeatBrinkerCapital,shealsoservedasdirectorofonlineserviceswhereshewasresponsibleforoverseeingthecontinuousdevelopmentofthecompany’swebsite. Sheilathenservedasthedirectorofstrategicplanning,responsiblefordevelopingnewproductsolutionsandenhancingexistingsolutions. PriortoBrinkerCapital,SheilaworkedatSEIasaproductplanner. ShegraduatedfromMillersvilleUniversitywithaB.S.inComputerScienceandaminorinBusinessAdministration.SheobtainedherM.B.AfromSaintJoseph’sUniversity. Inaddition,sheholdsFINRA6and63licenses.Sheila BonitzJean LynchWilliam P. Simon, Jr.Gregory G. VradenburgBrinker Capital, Inc., a Registered Investment Advisor.Investment ServicesJordan WallensRetirement Plan Services, ContinuedJordan Wallens, Retirement Plan Services Regional DirectorJordanisresponsiblefornewbusinessdevelopmentandclientserviceforBrinkerCapital’sretirementplanservicesprogram. Hehasover15yearsofsalesandmarketingexperienceintheinvestmentmanagementindustrywithafocusonretirementplanning.PriortojoiningBrinkerCapital,JordanservedasthevicepresidentandregionaldirectoroftheInvestmentConsultantGroup(ICG)DivisionatGoldmanSachsAssetManagement,aswellasRegionalMarketingDirectoratLincolnFinancialDistributors.JordanalsoheldpositionsatCapitalGroup/AmericanFundsDistributors,thePolytechnicSchoolofPasadenaandtheChicagoMercantileandBoardofOptionsExchange,wherehebeganhiscareer. HeholdsFINRAseries6,7,26and63licensesandisagraduateofCornellUniversitywithaB.A.S.inEnglishLiteratureandEconomics.Heisapublishedauthorandenjoystravel,sports,behavioralfinanceandhistory.