Braver Wealth Management offers a Diversified Asset Strategy that uses over ten computer models to actively allocate across asset classes based on risk-reward opportunities. The strategy aims to preserve capital in down markets while participating in up markets, with maximum exposure of 100% to money markets or equity funds and 20% to fixed income. Since inception in 2001, the strategy has outperformed a 60% S&P 500/40% BarCap Aggregate benchmark with lower risk, as measured by maximum drawdown and higher risk-adjusted returns.

1. Braver Wealth Management, LLC
Preserving Wealth In Down Markets
Braver Diversified Asset
Ending June 2011
Strategy Description
INVESTMENT A conservative investment program where preservation of capital is one of the principal objectives. Our Diversified Asset Program is comprised of
PROFESSIONALS more than ten proprietary computer models, each analyzing a separate asset class for potential investment. Accounts are monitored daily and based
on probabilistic computer models, Braver positions the money among the asset classes deemed to offer the best risk/reward opportunities at a given
point in time. Our active allocation that moves by asset class has allowed us to utilize cash proactively in order to mitigate risk and miss many of the
ANDREW P. GRIESINGER
down markets while participating in the up markets. The portfolios can have up to 100% in money markets and 100% in equity funds. The current
Chief Investment Officer
maximum fixed income exposure is 20%. This strategy has been recognized nationally by industry rating services and has received the “Top Gun”
BS - Cornell University performance award multiple times by Informa Investment Solution’s Plan Sponsor Network (PSN).
Experience: 12+ Yrs
DAVID J. D’AMICO, CFA
President Growth of $1,000
BS - Bentley College
Braver Diversified 60% S&P 500 / 40% BarCap AGG
MS - Boston College 1800
Experience: 20+ Yrs
1600
JOSEPH B. LUDWIG
Managing Director 1400
BS, BA - Rutgers University
MS - Rensselaer Polytechnic 1200
Institute
1000
Experience: 20+ Yrs
800
Q2 2001 Q4 2001 Q4 2002 Q4 2003 Q4 2004 Q4 2005 Q4 2006 Q4 2007 Q4 2008 Q4 2009 Q2 2011
CHARLES M. TOOLE, CFA
Assistant Vice President
BS - Worcester Polytechnic
Institute
Annualized Returns
MS - Northeastern University Manager vs Benchmark: Return through June 2011
(not annualized if less than 1 year)
Experience: 5+ Yrs Since
YTD 1 y ear 3 y ears 5 y ears 10 y ears
Inception
DAVID SCHIFFER
Analyst
BA - University of Braver Diversified 3.12% 14.88% 8.79% 6.93% 5.59% 9.76%
Massachusetts
Experience: 5 Yrs
60% S&P 500 / 40% BarCap AGG 4.73% 19.57% 5.36% 4.90% 4.42% 9.37%
Risk Analysis
Superior Risk Adjusted Results Downside Protection
July 2001 - June 2011 Drawdown
J uly 2001 - J une 2011
6% 0%
5% -5%
4% -10%
Return
3% -15%
Contact
David J. D'Amico, CFA 2% -20%
President 1% -25%
117 Kendrick Street, Ste 800
Needham, MA 02494 0%
0% 2% 4% 6% 8% 10% -30%
Q2 2001Q4 2001 Q4 2003 Q4 2005 Q4 2007 Q4 2009 Q2 2011
Standard Deviation
617.969.0223 Office
617.969.0224 Fax Braver Diversified
Market Benchmark: Braver Diversified 60% S&P 500 / 40% BarCap AG G
ddamico@braverwealth.com 60% S&P 500 / 40% BarCap AGG
Cash Equivalent:
Citigroup 3-month T-bill
Braver Wealth Management, LLC 117 Kendrick Street, Ste 800, Needham MA 02494 Ph: (617) 969-0223 www.braverwealth.com Email: ddamico@braverwealth.com

2. Diversified Asset Braver Wealth Management, LLC
Page 2 Ending June 2011
Multi-Statistic Analysis
Zephyr StyleADVISOR ZephyrStyleADVISOR: Braver Wealth Management
Multi-Statistic
July 2001 - June 2011
3.5
3
2.5
2
1.5 Braver Diversified
1
60% S&P 500 / 40% BarCap AGG
0.5
0
Alpha Beta Ex c es s R eturn Sharpe Information R atio Pain
vs. vs . vs. R atio vs. R atio
Mark et Market Market Mark et
Peer Review
Zephyr StyleADVISOR ZephyrStyleADVISOR: Braver Wealth Management
Manager vs Morningstar Moderate Allocation: Return
July 2001 - June 2011 (not annualized if less than 1 year)
30
25
20
Braver Diversified
Return
60% S&P 500 / 40% BarCap AGG
15
5th to 25th Percentile
25th Percentile to Median
10 Median to 75th Percentile
75th to 95th Percentile
5
0
YTD 1 y ear 3 y ears 5 y ears 10 y ears
GIPS Performance Disclosures
Diversified Asset Composite
1-January-2001 through 31-December-2010
Total
Total Benchmark Internal Total Firm
Number of Composite
Year Return Return Dispersion Assets
Portfolios Assets
(percent) (percent) (percent) ($Million)
($Million)
2001 4.2 -3.4 114 N/A 38.2 172.3
2002 -4.7 -9.5 142 N/A 43.8 188.3
2003 19.8 18.6 196 N/A 69.7 263.5
2004 1.5 8.4 232 1.0 81.5 326.2
2005 0.0 3.9 151 0.5 35.9 334.4
2006 13.9 11.1 158 1.5 52.1 381.6
2007 0.7 6.2 182 0.6 56.1 394.5
2008 0.9 -21.6 125 0.6 31.8 327.9
2009 8.0 18.5 201 0.4 48.6 432.4
2010 12.5 12.2 231 0.3 64.0 524.2
Braver Wealth Management, LLC. has prepared and presented this report in compliance with the Global Investment Performance Standards (GIPS®)
1 Braver Wealth Management, LLC. (f/k/a Tandem Financial Services Inc.) is an independent investment management firm established in 1987. The firm manages a variety of equity, fixed
income, and balanced portfolios for individuals and institutions. Additional information regarding the firm's policies and procedures for calculating and reporting performance is available upon
request.
2 The Diversified Asset composite uses computer models to allocate assets among money market funds and a wide array of market segments (equity and
bond segements). The portfolios can have up to 100% in money markets.
3 The benchmark is 60% S&P 500 / 40% BarCap AGG. The benchmark index is provided by Zephyr, Inc.
4 This composite was created in 1986. A complete list and description of firm composites is available upon request.
5 Valuations are computed and performance reported in US dollars.
6 Performance figures are presented before management and custodial fees but after all trading expenses.
7 Portfolios in this composite have a fixed fee schedule. The fixed fee is 1.00% on the first $2.5MM, 0.8% on the next $2.5 to $5MM, 0.6% on next $5 to $10MM and 0.4%
over $10MM.
8 Internal dispersion is calculated using the equal-weighted standard deviation of all portfolios that were included in the composite for the entire year.
9 For periods prior to 2004 Braver Wealth Management, LLC was not in compliance with GIPS standards because internal dispersion was not calculated.
Braver Wealth Management, LLC 117 Kendrick Street, Ste 800, Needham MA 02494 Ph: (617) 969-0223 www.braverwealth.com Email: ddamico@braverwealth.com