networth-radio-package-02-24-14 by McGowanGroup Asset Management

McGOWANGROUP ASSET MANAGEMENT

NetWorth Radio The CashFlow Revolution™

Table of Contents Market Commentary MGAM Weekly Economic Update …………………………………………………………………………

Page 3

MGAM Tactical Dynamic Allocation Strategy…………………………………………………………

Page 5

Investment Information Cash Flow Strategies ………………………………………………………………………………………….…

Page 7

Candidate List ………………………………………………………………………………………………………

Page 11

Dividend Report …………………………………………………………………………………………………..

Page 15

Disclosures Disclosures ……………………………………………………………………………………………………………

Page 20

200 Crescent Court #657 Dallas, TX 75201 Phone: (214) 720-4400 Fax: (214) 720-4420 info@themcgowangroup.com

WEEKLY ECONOMIC UPDATE February 24, 2014 MORE MILD INFLATION Consumer prices ticked up 0.1% for January while wholesale prices rose 0.2%. Analysts polled by MarketWatch expected both the headline Consumer Price Index and Producer Price Index to advance 0.1%. The bigger news item (perhaps) is that the Labor Department altered its calculation of producer prices for the first time in 36 years. The definitive PPI is now called the PPI Final Demand index, and it measures prices received for exports, services, federal government purchases and construction in addition to those of finished goods.1,2 POOR HOME SALES TO START THE YEAR The annual pace of existing home sales hit an 18-month low in January; the National Association of Realtors announced 5.1% monthly and yearly declines in residential resales. The good news? Inventory continues to expand (+2.2% in January) and the median existing home price was $188,900 last month, up 10.7% from a year ago.3 OIL TOPS $102, GOLD ADVANCES FOR A THIRD WEEK NYMEX crude for April delivery settled at $102.20 a barrel Friday, rising 1.9% for the week. Unrest in Ukraine, Venezuela, Turkey and other emerging markets also influenced the 0.4% gain for COMEX gold futures last week – the precious metal settled Friday at $1,323.60 per ounce.4 NASDAQ ADDS TO YTD GAINS The tech-heavy benchmark rose 0.46% during this past abbreviated trading week, wrapping up Friday at 4,263.41; in contrast, the Dow and S&P 500 each slipped a bit over four days. After a 0.32% weekly loss, the Dow stood at 16,103.30. The S&P settled Friday at 1,836.25, losing 0.13% on the week.5 THIS WEEK Berkshire Hathaway, Hertz and Live Nation announce earnings Monday. Tuesday, the Conference Board publishes its February consumer confidence index, the December Case-Shiller and FHFA home price indices appear, and Big 5, Office Depot, CoreLogic, Metro PCS, Papa John’s, Toll Brothers, Macy’s, Home Depot, Alleghany, Molycorp, Dreamworks and Cracker Barrel all present earnings. Wednesday offers January new home sales numbers and earnings from Baidu, TJX, Starwood Hotels, JC Penney and U.S. Cellular. Thursday, Fed chair Janet Yellen reports to Congress and new initial claims figures and data on January hard goods orders arrive; quarterly results come from Salesforce, Wendy’s, Hilton, Monster, Sempra Energy, Main Street Capital and Republic Airways. Friday brings the month’s final University of Michigan consumer sentiment index, NAR’s report on January pending home sales, and the second federal estimate of Q4 GDP. 3

% CHANGE DJIA NASDAQ S&P 500 REAL YIELD 10 YR TIPS

Y-T-D -2.86 +2.08 -0.66 2/21 RATE 0.61%

1-YR CHG +16.01 +36.15 +22.22 1 YR AGO -0.54%

5-YR AVG +23.73 +39.16 +27.69 5 YRS AGO 1.67%

10-YR AVG +5.16 +10.92 +6.05 10 YRS AGO 1.79% 6,7,8,9

Sources: USATODAY.com, bigcharts.com, treasury.gov - 2/21/14 Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends.

Citations 1 - marketwatch.com/economy-politics/calendars/economic [2/21/14] 2 - bloomberg.com/news/2014-02-18/producer-price-index-in-u-s-gets-first-overhaul-since-1978.html [2/18/14] 3 - 247wallst.com/housing/2014/02/21/january-sales-of-existing-homes-at-18-month-low/ [2/21/14] 4 - proactiveinvestors.com/companies/news/52249/gold-rises-05-oil-above-102-52249.html [2/21/14] 5 - fxstreet.com/news/forex-news/article.aspx?storyid=f0ae7598-7cbc-41c0-a5ff-1f741e2d583b [2/21/14] 6 - usatoday.com/money/markets/overview/ [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F21%2F12&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F21%2F12&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F21%2F13&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F20%2F09&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F20%2F09&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F20%2F09&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F20%2F04&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F20%2F04&x=0&y=0 [2/21/14] 7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F20%2F04&x=0&y=0 [2/21/14] 8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [2/21/14] 9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [2/21/14]

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.

MGAM Tactical Dynamic Allocation Strategy

Opportunistic portfolios are created during market bottoms taking advantage of lower prices and higher cash flows. 2002 and 2009 are excellent examples.

As equity markets rise, the goal becomes scaling back risk toward a more moderate portfolio.

Following major stock market rallies, the goal is to protect gains by moving to a more conservative portfolio. 1999 and 2007 provided opportunities in more conservative fixed income instruments as the Federal Reserve tightened interest rates.

Tactical allocation provides a planning tool for adjusting portfolios for the economic cycle, but does not eliminate risk or assure future performance. McGowanGroup Asset Management, Inc is a Federally Registered Investment Advisory Firm. Securities offered through independent firm, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA / SIPC. McGowanGroup and Spire only transact business in states where it is properly registered or notice filed, or excluded or exempted from registration requirements. Follow-up and individualized responses that involve either the effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, as the case may be, will not be made absent compliance with state investment adviser and investment adviser representative registration requirements, or an applicable exemption or exclusion. 02/2014 6

CASH FLOW STRATEGIES Growth with Income (Aggressive) Senior Loan/Preferred/ Taxable Bond Funds 20%

MLP's, Royalty Trusts, Pipelines 10%

Discount Closed End Funds 30%

Global Dividend Companies 30%

Cash 10%

Disclosures: The allocation shown above is hypothetical in nature and for illustrative purposes only. It does not represent the actual account of any particular client. This material has been prepared and is distributed solely for informational purposes and is not a solicitation or an offer to buy any trading security or instrument or to participate in any trading strategy. Additional information is available upon request. Market values of both equity and fixed income investments will fluctuate due changes in market condition and other factors. Asset Allocation and diversification cannot eliminate the risk of fluctuating prices and uncertain returns. Stocks of small and mid-cap companies are typically more volatile than stocks of larger companies. They often involve higher risks because they may lack the management expertise, financial resources, product diversification and competitive strengths to endure adverse economic conditions. Global/International investing may involve risks such as currency fluctuations, political instability, uncertain economic conditions, different accounting standards, and other risks that are not typically associated with domestic investments. Fixed income investments are subject to default and interest rate risk. High-yield, non-investment grade bonds are only suitable for aggressive investors willing to take greater risks, which could result in loss of principal and interest payments. Stock dividends are not guaranteed. Please contact us to discuss an appropriate allocation for your situation. McGowanGroup Asset Management 200 Crescent Court Suite 657 Dallas, TX 75201 (866) 550-8008 McGowanGroup Asset Management, Inc. is a Federally Registered Investment Advisory Firm. Securities offered through Spire Securities, LLC an independent broker-dealer, member FINRA/SIPC

CASH FLOW STRATEGIES Cash Flow (Moderate)

Municpal Bonds 37%

Discount Closed End Funds 36%

Global Dividend Companies 24%

Cash and Limited Duration 3%

CASH FLOW STRATEGIES Conservative

CD's, MTN's, MTP's 25% Insured Municpal Bonds 50% Cash 25%

CASH FLOW STRATEGIES Ultra Conservative

Cash 50%

Insured Municpal Bonds 50%

Cash Flow Strategy Closed End Funds US Bond Funds

CLOSED END FUND ADVENT CLAYMORE CVT SEC& INC NUVEEN PREFERRED INCOME OPPO NUVEEN CREDIT STRATEGIES INC FLAHERTY & CRUMRINE DYNAMIC DOUBLELINE INCOME SOLUTIONS FIRST TRUST INTERMEDIATE DUR BLACKROCK CORPORATE HY FD VI INVESCO DYNAMIC CREDIT OPPO DWS HIGH INCOME OPPORTUNITIE BLACKROCK CREDIT ALLOCATION

01/31/14

01/31/14 NAV RETURN SHARE INCEPTION PRICE BEST ANNUALIZED YEAR %

SHARE PRICE WORST YEAR %

SYMBOL

ASSET CLASS

12/31/13 NAV VALUE

YIELD

MARKET PRICE

NET ASSET VALUE

DISCOUNT/ PREMIUM

NAV YTD RETURN

AVK

CONVERTIBLE/HIGH YIELD

$20.38

6.13%

$18.38

$20.27

‐9.32%

‐0.08%

7.07%

55.84%

‐47.04%

JPC

CORPORATE/PREFERRED

$9.88

8.45%

$8.99

$10.05

‐10.55%

2.36%

5.43%

84.27%

‐51.74%

JQC

CORPORATE/PREFERRED

$10.24

6.88%

$9.50

$10.25

‐7.32%

0.63%

5.26%

78.60%

‐49.30%

DFP

TAXABLE INCOME‐PREFERREDS

$22.46

9.20%

$20.86

$22.95

‐9.11%

N/A

0.64%

N/A

DSL

TAXABLE INCOME‐MULTI‐SECTOR

$22.45

8.65%

$20.82

$22.59

‐7.84%

N/A

‐0.66%

N/A

FPF

TAXABLE INCOME‐PREFERREDS

$23.19

8.69%

$21.07

$23.52

‐10.42%

N/A

2.93%

N/A

HYT

CORPORATE‐HIGH YIELD

$13.02

8.05%

$12.00

$13.16

‐8.81%

1.08%

9.66%

92.56%

‐38.43%

VTA

TAXABLE INCOME‐SENIOR LOAN

$13.71

7.00%

$12.86

$13.80

‐6.81%

1.21%

3.73%

91.12%

‐49.58%

DHG

TAXABLE INCOME‐HIGH YIELD

$16.37

7.19%

$14.19

$16.41

‐13.53%

0.76%

‐2.92%

65.62%

‐65.50%

BTZ

TAXABLE INCOME‐INVESTMENT GRADE

$14.84

7.47%

$12.93

$15.06

‐14.14%

1.48%

1.96%

57.51%

‐43.95%

01/31/14

12/31/13 NAV VALUE

YIELD

MARKET PRICE

NET ASSET VALUE

DISCOUNT/ PREMIUM

NAV YTD RETURN

$12.08

9.58%

$9.81

$11.79

‐16.79%

‐2.40%

1.79%

22.94%

‐14.02%

$14.89

8.14%

$14.74

$14.96

‐1.47%

0.47%

11.99%

94.90%

‐31.02%

$19.11

8.70%

$16.55

$18.77

‐11.83%

‐1.16%

8.29%

53.55%

‐20.62%

$13.48

8.89%

$11.48

$13.34

‐13.94%

‐1.04%

12.67%

67.36%

‐26.94%

Global Funds

CLOSED END FUND NUVEEN DIVERSIFIED CURRENCY ALLIANCEBERNSTEIN GL HI INC WESTERN ASSET EMERGING MARKE WESTERN ASSET EMERGING MARKE WESTERN ASSET GLOBAL HIGH IN FIRST TRUST ABERDEEN GLOBAL MORGAN STANLEY EMERGING MARK

SYMBOL

JGT AWF ESD EMD

ASSET CLASS GLOBAL HIGH YIELD/INVESTMENT GRADE GLOBAL HIGH YIELD/INVESTMENT GRADE Non‐US/Other‐Emerging Market Income Non‐US/Other‐Emerging Market Income

NAV RETURN SHARE INCEPTION PRICE BEST ANNUALIZED YEAR %

SHARE PRICE WORST YEAR %

EHI

Non‐US/Other‐Global Income

$13.25

9.55%

$12.09

$13.15

‐8.06%

‐0.04%

8.26%

71.25%

‐30.71%

FAM

GLOBAL HIGH YIELD/INVESTMENT GRADE

$15.32

11.24%

$13.88

$14.88

‐6.72%

‐2.04%

6.55%

74.64%

‐29.82%

EDD

GLOBAL INVESTMENT GRADE

$14.77

13.16%

$11.98

$13.79

‐13.13%

‐6.64%

3.84%

42.03%

‐28.97%

Cash Flow Strategy Closed End Funds Municipal Bond Funds

CLOSED END FUND NUVEEN BUILD AMERICAN BOND NUVEEN BUILD AMERICA BOND OP BLACKROCK BUILD AMERICA BOND GUGGENHEIM BUILD AMERICA BON NUVEEN DVD ADVANTAGE MUNI FD NUVEEN MUNI ADVANTAGE FUND NUVEEN QUALITY INCOME MUNI NUVEEN MUNI MKT OPPORTUNITY BLACKROCK MUNICIPAL INCOME I BLACKROCK MUNIHOLDINGS QU II BLACKROCK MUNIHOLDINGS CA QU BLACKROCK MUNIYIELD NY QUALI

01/31/14

SYMBOL

ASSET CLASS

12/31/13 NAV VALUE

YIELD

MARKET PRICE

NET ASSET VALUE

DISCOUNT/ PREMIUM

NAV YTD RETURN

NAV RETURN INCEPTION ANNUALIZED

NBB

MUNICIPAL NATIONAL

$20.34

7.29%

$19.09

$21.14

‐9.70%

4.52%

9.61%

20.32%

9.88%

NBD

MUNICIPAL NATIONAL

$21.40

6.81%

$20.10

$22.37

‐10.15%

5.08%

11.26%

25.08%

6.46%

BBN

MUNICIPAL NATIONAL

$20.54

8.10%

$19.52

$21.74

‐10.21%

5.84%

11.38%

32.81%

14.83%

GBAB

MUNICIPAL NATIONAL

$21.49

8.09%

$20.50

$22.18

‐7.57%

3.87%

11.79%

26.43%

14.96%

NAD

MUNICIPAL NATIONAL

$14.05

6.54%

$13.58

$14.56

‐6.73%

4.17%

6.47%

45.78%

‐20.44%

NMA

MUNICIPAL NATIONAL

$13.66

6.24%

$12.89

$14.22

‐9.35%

4.60%

6.97%

47.34%

‐21.92%

NQU

MUNICIPAL NATIONAL

$13.79

6.31%

$13.02

$14.36

‐9.33%

4.64%

6.61%

28.78%

‐23.80%

NMO

MUNICIPAL NATIONAL

$13.44

6.36%

$12.65

$13.93

‐9.19%

4.15%

6.62%

38.86%

‐20.56%

BAF

MUNICIPAL NATIONAL

$14.28

6.09%

$13.49

$14.81

‐8.91%

4.20%

6.03%

47.20%

‐21.07%

MUE

MUNICIPAL NATIONAL

$13.18

6.68%

$12.66

$13.69

‐7.52%

4.41%

5.29%

46.84%

‐16.73%

MUC

MUNICIPAL SINGLE STATE

$14.62

6.24%

$13.74

$15.15

‐9.31%

4.12%

5.97%

46.80%

‐24.57%

MYN

MUNICIPAL SINGLE STATE

$13.06

6.48%

$12.59

$13.49

‐6.67%

3.82%

5.97%

45.39%

‐26.21%

SHARE SHARE PRICE PRICE BEST WORST YEAR YEAR % %

Cash Flow Strategy Closed End Funds Equity Funds CLOSED END FUND

SYMBOL

ASSET CLASS

12/31/13 NAV VALUE

01/31/14

YIELD

MARKET PRICE

NET ASSET VALUE

DISCOUNT/ PREMIUM

NAV YTD RETURN

KAYNE ANDERSON ENERGY DEVELO

KED

ENERGY GROWTH/INCOME

$28.46

7.11%

$28.15

$28.46

‐1.10%

2.44%

01/31/14 NAV RETURN INCEPTION ANNUALIZED 11.23%

CUSHING MLP TOTAL RETURN FUN

SRV

ENERGY GROWTH/INCOME

$7.02

11.02%

$8.17

$6.85

19.27%

‐2.42%

‐3.25%

SHARE PRICE BEST YEAR %

SHARE PRICE WORST YEAR %

116.73%

‐64.88%

120.35%

‐69.28%

TORTOISE MLP FUND INC

NTG

ENERGY GROWTH/INCOME

$28.29

6.15%

$27.32

$27.93

‐2.18%

‐1.27%

11.05%

18.64%

1.67%

BLACKROCK INTERNATIONAL GROW GABELLI DIVIDEND & INCOME TR EATON VANCE TAX ADV GL DVD O EATON VANCE TAX‐ADV DVD INC JOHN HANCOCK T/A DVD INCOME

BGY GDV ETO EVT HTD

US EQUITY COVERED CALL EQUITY TAX ADVANTAGED EQUITY TAX ADVANTAGED EQUITY TAX ADVANTAGED EQUITY TAX ADVANTAGED

$9.18 $24.18 $26.35 $21.30 $20.02

8.53% 5.78% 7.76% 6.94% 7.12%

$7.87 $20.75 $23.21 $18.60 $18.55

$8.90 $23.02 $25.16 $20.80 $20.87

‐11.57% ‐9.86% ‐7.75% ‐10.58% ‐11.12%

‐3.05% ‐4.44% ‐3.97% ‐1.86% 4.25%

0.79% 8.23% 10.31% 8.00% 8.31%

63.67% 44.59% 49.68% 50.42% 42.82%

‐41.95% ‐45.75% ‐53.56% ‐53.43% ‐35.26%

EATON VANCE T/A GL DVD INCM CALAMOS GLOBAL DYNAMIC INCOM MACQUARIE GLOBAL INFR TOT RT

ETG CHW MGU

GLOBAL EQUITY INCOME GLOBAL GROWTH & INCOME GLOBAL INFRASTRUCTURE

$18.09 $10.24 $25.24

7.58% 8.52% 6.36%

$16.23 $8.73 $22.00

$17.26 $9.94 $24.77

‐5.97% ‐12.17% ‐11.18%

‐4.05% ‐2.93% ‐1.86%

6.88% 3.00% 7.55%

44.72% 53.56% 51.16%

‐55.63% ‐47.34% ‐56.67%

MACQUARIE/FT GL INT/UT DV IN

MFD

GLOBAL INFRASTRUCTURE

$17.12

8.43%

$16.60

$17.03

‐2.52%

‐0.53%

8.92%

36.92%

‐55.60%

ALLIANZGI NFJ DIVIDEND INTER EATON VANCE TAX MAN GLBL BR EATON VANCE TAX‐MANAGED GLOB

NFJ ETW EXG

US EQUITY COVERED CALL US EQUITY COVERED CALL US EQUITY COVERED CALL

$18.57 $13.13 $11.12

10.08% 10.03% 9.94%

$17.86 $11.64 $9.81

$18.19 $12.70 $10.66

‐1.81% ‐8.35% ‐7.97%

‐2.05% ‐2.56% ‐3.43%

5.24% 5.53% 3.38%

31.66% 59.66% 49.28%

‐37.77% ‐33.23% ‐30.87%

ING GLOBAL EQUITY & PR OPPT

IGD

US EQUITY COVERED CALL

$10.04

10.39%

$8.78

$9.73

‐9.76%

‐3.09%

3.75%

48.24%

‐32.23%

LIBERTY ALL STAR EQUITY FUND CALAMOS STRAT TOT RETURN FD H & Q HEALTHCARE INVESTORS

USA CSQ HQH

US EQUITY GENERAL EQUITY US EQUITY GROWTH & INCOME US EQUITY‐HEALTH/BIOTECH

$6.71 $12.29 $26.29

7.10% 7.80% 7.39%

$5.63 $10.77 $27.06

$6.39 $11.90 $27.86

‐11.89% ‐9.50% ‐2.87%

‐3.34% ‐3.17% 5.97%

7.94% 5.86% 12.07%

57.28% 56.82% 68.07%

‐43.89% ‐49.28% ‐37.59%

H & Q LIFE SCIENCES INVSTRS

HQL

US EQUITY‐HEALTH/BIOTECH

$21.14

7.54%

$21.23

$22.74

‐6.64%

7.57%

9.89%

80.78%

‐36.09%

COHEN & STEERS INFRASTRUCTUR

UTF

US EQUITY INFRASTRUCTURE

$23.43

7.05%

$20.44

$23.51

‐13.06%

0.34%

17.01%

68.53%

‐57.19% ‐3.50%

BLACKROCK UTILITY AND INFRAS

BUI

US EQUITY‐ UTILITIES

$20.70

7.99%

$18.14

$20.86

‐13.04%

0.77%

11.25%

7.93%

DUFF & PHELPS GLOBAL UTILITY

DPG

US EQUITY‐ UTILITIES

$21.46

7.53%

$18.60

$21.20

‐12.26%

‐1.21%

11.17%

21.95%

0.64%

ALPINE GLOBAL PREMIER PROPER

AWP

GLOBAL REAL ESTATE

$8.11

8.62%

$6.96

$7.76

‐10.31%

‐3.72%

‐3.67%

78.59%

‐63.64%

COHEN & STEERS REIT & PR

RNP

US EQUITY‐REAL ESTATE

$17.88

7.44%

$16.12

$18.50

‐12.86%

3.47%

7.73%

91.15%

‐60.58%

COHEN & STEERS QUAL INC RLTY

RQI

US EQUITY‐REAL ESTATE

$10.53

7.34%

$9.81

$10.96

‐10.49%

4.08%

8.11%

80.59%

‐68.43%

Performance data quoted reflects past performance which cannot guarantee future results. Current performance may be lower or higher than quoted. Investment return and principal value is subject to fluctuations with changes in market conditions such that shares may be worth more or less than original cost when sold. Returns are calculated by subtracting the value of a share at the beginning of the period from the value at the end and dividing the difference by the initial value expressing the result as a percentage change. The calculation assumes that all distributions during the period have been reinvested on the payable dates, at NAV or at market price according to how the returns are labeled. The returns do not reflect broker sales charges or commissions. Net asset value (NAV) is total assets less total liabilities divided by the number of shares outstanding. Pease see final page fopr important information on risks of investing in these funds and other important disclosure.

Exchange Traded Bonds/Preferreds As of 01/31/2014

MUNIFUND TERM PREFERRED SHARES DESCRIPTION Nuveen Dvd Adv Muni Inco Nuveen Md Premium Inc 2 Nuveen Texas Premium Inc Nuveen Ma Dvd Adv Muni Nuveen Amt-Free Adv Muni

TICKER SYMBOL

RATING

INDUSTRY

PRICE

PAR VALUE

PERCENT DISCOUNT

% YIELD AS OF 01/31/2014

COUPON RATE

CORPORATE WEBSITE

NVG2.95 NMY2.9 NTX2.3 NMB2.6 NEA2.85

Aaa AAA Aa2 AAA Aa2 AAA Aa2 AAA /*WR NR

Financial Financial Financial Financial Financial

$10.04 $10.10 $10.05 $10.05 $10.00

$10.00 $10.00 $10.00 $10.00 $10.00

0.40% 1.00% 0.50% 0.50% 0.00%

2.94% 2.87% 2.29% 2.59% 2.85%

2.95% 2.90% 2.30% 2.60% 2.85%

http://www.nuveen.com/CEF/MTPPrices.aspx http://www.nuveen.com/CEF/MTPPrices.aspx http://www.nuveen.com/CEF/MTPPrices.aspx http://www.nuveen.com/CEF/MTPPrices.aspx http://www.nuveen.com/CEF/MTPPrices.aspx

TICKER SYMBOL

RATING

INDUSTRY

PRICE

PAR VALUE

PERCENT DISCOUNT

% YIELD AS OF 01/31/2014

COUPON RATE

CORPORATE WEBSITE

$25.27

$25.00

-1.08

7.42%

7.50%

$25.33

$25.00

-1.32

7.28%

7.38%

Watch List DESCRIPTION Ford Motor Co Ally Financial Inc

F7.5 ALLY7.375

Baa3 BBBB1 BB

Consumer Discretionary Financials

Yields and market value will fluctuate so that your investment, if sold prior to maturity, may be worth more or less than its original cost.

http://www.ford.com/ http://www.gmacfs.com

EQUITY OPPORTUNITIES as of January 31, 2014 Mining, Materials, and Chemicals Company Natural Resource Partners Lp Pvr Partners Lp Quimica Y Minera Chil‐Sp Adr Potash Corp Of Saskatchewan Southern Copper Corp United States Steel Corp Aluminum Corp Of China‐Adr

Ticker Symbol NRP PVR SQM POT SCCO X ACH

Sector

Price

Mining Mining Chemicals Chemicals Industrial Metals & Mining Industrial Metals & Mining Industrial Metals & Mining

15.76 28.04 24.91 31.32 27.98 26.11 8.86

Sector

Price

Fixed Line Telecommunications Fixed Line Telecommunications Fixed Line Telecommunications Fixed Line Telecommunications Fixed Line Telecommunications Fixed Line Telecommunications Gas, Water & Multiutilities Fixed Line Telecommunications Electricity Electricity Fixed Line Telecommunications Electricity Fixed Line Telecommunications Electricity Mobile Telecommunications Gas, Water & Multiutilities Mobile Telecommunications Fixed Line Telecommunications Industrial Engineering General Industrials

4.68 1.71 28.86 9.43 15.36 29.40 15.67 33.32 26.02 14.74 48.02 42.15 36.27 36.64 37.06 23.29 21.26 19.00 33.36 40.95

YTD % Chg ‐20.96% 4.51% ‐3.75% ‐4.98% ‐2.54% ‐11.49% 1.84%

Price/ Earnings 9.27 100.14 13.32 15.06 13.55 15.95 27.71

Current Yield 8.88% 7.85% 6.11% 4.47% 1.72% 0.77% 0.00%

Dividend Frequency Quarterly Quarterly Semi‐Annual Quarterly Quarterly Quarterly Irregular

Annual Dividend 1.40 2.20 1.52 1.40 0.48 0.20 0.00

YTD % Chg 0.70% 7.55% ‐9.39% ‐0.49% ‐6.00% ‐5.04% ‐4.22% ‐5.23% ‐0.15% ‐7.93% ‐2.28% 4.64% 1.17% 1.08% ‐5.72% 0.95% ‐9.03% ‐1.14% ‐3.58% ‐5.69%

Price/ Earnings 21.31 10.35 17.89 11.91 11.61 18.16 n/a 13.34 16.07 18.16 16.92 14.53 15.25 6.64 16.54 23.77 12.61 13.56 21.71 6.78

Current Yield 8.54% 8.16% 7.48% 7.03% 6.14% 6.04% 5.95% 5.52% 4.77% 4.61% 4.41% 4.32% 4.04% 3.65% 3.16% 2.79% 1.60% 1.57% 1.40% 0.98%

Dividend Frequency Quarterly Irregular Quarterly Semi‐Annual Semi‐Annual Annual Annual Quarterly Quarterly Semi‐Annual Quarterly Quarterly Irregular Annual Semi‐Annual Quarterly Semi‐Annual Irregular Quarterly Quarterly

Annual Dividend 0.40 0.14 2.16 0.66 0.940 1.78 0.93 1.84 1.24 0.68 2.12 1.82 1.47 1.34 1.17 0.65 0.34 0.30 0.47 0.40

Telecom/Utilities Company Frontier Communications Corp Oi Sa‐Adr Centurylink Inc Telecom New Zealand‐Sp Adr Telefonica Sa‐Spon Adr Chunghwa Telecom Ltd‐Adr Veolia Environnement‐Adr At&T Inc Hawaiian Electric Inds Cpfl Energia Sa‐Adr Verizon Communications Inc P G & E Corp Telekomunik Indonesia‐Sp Adr Huaneng Power Intl‐Spons Adr Vodafone Group Plc‐Sp Adr California Water Service Grp America Movil‐Adr Series L Telefonica Brasil‐Adr Xylem Inc Itt Corp

Ticker Symbol FTR OIBR CTL NZTCY TEF CHT VE T HE CPL VZ PCG TLK HNP VOD CWT AMX VIV XYL ITT

EQUITY OPPORTUNITIES as of January 31, 2014 Business Development Corportations & Financials Company Prospect Capital Corp Ticc Capital Corp Apollo Investment Corp Ares Capital Corp Compass Diversified Holdings Triangle Capital Corp Main Street Capital Corp Cheviot Financial Corp Westwood Holdings Group Inc California First Natl Bancor

Ticker Symbol PSEC TICC AINV ARCC CODI TCAP MAIN CHEV WHG CFNB

Industry

Price

Equity Investment Instruments Equity Investment Instruments Equity Investment Instruments Equity Investment Instruments Financial Services Equity Investment Instruments Equity Investment Instruments Banks Financial Services Banks

10.87 10.15 8.44 17.71 17.95 26.96 33.88 10.40 57.17 14.80

Industry

Price

Oil & Gas Producers Oil & Gas Producers Chemicals Industrial Transportation Oil & Gas Producers Oil Equipment, Services & Distribution Oil & Gas Producers Oil & Gas Producers Oil & Gas Producers General Retailers Oil Equipment, Services & Distribution Oil & Gas Producers Oil & Gas Producers Oil Equipment, Services & Distribution Oil Equipment, Services & Distribution Oil Equipment, Services & Distribution Oil Equipment, Services & Distribution Oil Equipment, Services & Distribution Oil Equipment, Services & Distribution Oil Equipment, Services & Distribution Oil Equipment, Services & Distribution Oil & Gas Producers Oil Equipment, Services & Distribution Oil & Gas Producers

77.98 20.55 29.07 17.12 26.08 49.50 32.79 35.94 50.69 44.30 29.38 50.10 27.43 79.48 40.47 55.51 27.99 51.83 27.48 35.51 70.19 12.68 66.38 46.30

YTD % Chg ‐3.12% ‐1.84% ‐0.41% ‐0.34% ‐8.56% ‐2.50% 3.64% 0.97% ‐7.66% ‐1.99%

Price/ Earnings 11.58 12.69 10.05 11.07 12.47 11.14 19.14 49.52 27.06 19.22

Current Yield 12.20% 11.43% 9.48% 8.58% 8.02% 8.01% 5.84% 3.46% 3.08% 2.70%

Dividend Frequency Monthly Quarterly Quarterly Quarterly Quarterly Quarterly Monthly Quarterly Quarterly Annual

Annual Dividend 1.33 1.16 0.80 1.52 1.44 2.16 1.98 0.36 1.76 0.40

YTD % Chg ‐2.07% 1.03% 11.72% 4.52% ‐7.39% ‐2.92% 6.50% 5.92% 0.26% ‐5.54% ‐1.64% ‐1.49% 4.46% ‐1.46% ‐5.24% ‐3.04% ‐2.30% ‐1.56% ‐0.43% ‐2.15% 6.14% ‐1.40% 0.12% ‐6.82%

Price/ Earnings 8.97 82.20 33.03 18.81 28.66 69.72 20.24 399.33 13.10 26.85 62.51 29.15 741.35 23.65 13.05 27.21 38.87 22.34 n/a 2.83 129.98 15.11 23.88 8.64

Current Yield 12.97% 9.59% 9.43% 9.11% 9.05% 8.85% 8.84% 8.58% 8.58% 7.90% 7.40% 7.13% 6.93% 6.84% 6.84% 6.63% 6.07% 5.63% 5.24% 5.07% 4.90% 4.81% 4.22% 2.59%

Dividend Frequency Quarterly Monthly Quarterly Quarterly Quarterly Quarterly Monthly Quarterly Monthly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Monthly Quarterly Quarterly

Annual Dividend 10.11 1.97 2.74 1.56 2.36 4.38 2.90 3.08 4.35 3.50 2.17 3.57 1.90 5.44 2.77 3.68 1.70 2.92 1.44 1.80 3.44 0.61 2.80 1.20

Royalty Trusts, Pipelines, & Transportation Company Bp Prudhoe Bay Royalty Trust Breitburn Energy Partners Lp Calumet Specialty Products Ship Finance Intl Ltd Legacy Reserves Lp Nustar Energy Lp Linn Energy Llc‐Units Ev Energy Partners Lp Sabine Royalty Trust Suburban Propane Partners Lp Enbridge Energy Partners Lp Williams Partners Lp Regency Energy Partners Lp Kinder Morgan Energy Prtnrs Teekay Lng Partners Lp Energy Transfer Partners Lp Cheniere Energy Partners Lp Oneok Partners Lp Crosstex Energy Lp Golar Lng Ltd Markwest Energy Partners Lp Permian Basin Royalty Trust Enterprise Products Partners Hollyfrontier Corp

Ticker Symbol BPT BBEP CLMT SFL LGCY NS LINE EVEP SBR SPH EEP WPZ RGP KMP TGP ETP CQP OKS XTEX GLNG MWE PBT EPD HFC

EQUITY OPPORTUNITIES as of January 31, 2014 Medical/Health Care Company Pdl Biopharma Inc Omega Healthcare Investors Universal Health Rlty Income Health Care Reit Inc Healthcare Realty Trust Inc Glaxosmithkline Plc‐Spon Adr Sanofi‐Adr Eli Lilly & Co Pfizer Inc Merck & Co. Inc. Johnson & Johnson Teva Pharmaceutical‐Sp Adr Astrazeneca Plc‐Spons Adr Healthcare Services Group Quest Diagnostics Inc Amgen Inc Covidien Plc Steris Corp St Jude Medical Inc Stryker Corp Unitedhealth Group Inc Aetna Inc Humana Inc Atrion Corporation Doctor Reddy'S Lab‐Adr Dentsply International Inc Cantel Medical Corp Perrigo Co Plc Shire Plc‐Adr Cigna Corp Valeant Pharmaceuticals Inte Salix Pharmaceuticals Ltd Actavis Plc Mylan Inc Alexion Pharmaceuticals Inc Regeneron Pharmaceuticals

Ticker Symbol PDLI OHI UHT HCN HR GSK SNY LLY PFE MRK JNJ TEVA AZN HCSG DGX AMGN COV STE STJ SYK UNH AET HUM ATRI RDY XRAY CMN PRGO SHPG CI VRX SLXP ACT MYL ALXN REGN

Sector

Price

Pharmaceuticals & Biotechnology Real Estate Investment Trusts Real Estate Investment Trusts Real Estate Investment Trusts Real Estate Investment Trusts Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Health Care Equipment & Services Health Care Equipment & Services Pharmaceuticals & Biotechnology Health Care Equipment & Services Health Care Equipment & Services Health Care Equipment & Services Health Care Equipment & Services Health Care Equipment & Services Health Care Equipment & Services Health Care Equipment & Services Health Care Equipment & Services Pharmaceuticals & Biotechnology Health Care Equipment & Services Health Care Equipment & Services Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Health Care Equipment & Services Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology

9.10 31.94 42.40 57.92 22.92 51.54 48.90 54.01 30.40 52.97 88.47 44.63 63.50 27.13 52.50 118.95 68.24 45.89 60.73 77.60 72.28 68.33 97.30 267.18 41.72 46.14 31.70 155.66 149.62 86.31 135.64 97.34 188.98 45.41 158.73 288.59

YTD % Chg 7.82% 7.18% 5.84% 8.12% 7.56% ‐3.47% ‐8.82% 5.90% ‐0.75% 5.83% ‐3.41% 11.35% 6.96% ‐4.37% ‐1.94% 4.27% 0.21% ‐4.50% ‐1.97% 3.27% ‐4.01% ‐0.38% ‐5.74% ‐9.81% 1.68% ‐4.83% ‐6.52% 1.43% 5.90% ‐1.34% 15.54% 8.23% 12.49% 4.63% 19.45% 4.85%

Price/ Earnings 5.45 23.14 37.86 287.79 219.86 13.99 14.35 12.19 13.55 15.40 16.15 8.95 12.74 33.91 14.23 16.31 17.58 20.41 16.07 18.51 13.14 12.53 11.03 20.99 20.88 17.48 31.21 30.77 20.63 12.46 22.10 52.71 62.67 26.27 111.20 41.11

Current Yield 6.59% 6.14% 5.90% 5.49% 5.24% 4.78% 3.67% 3.63% 3.42% 3.32% 2.98% 2.93% 2.83% 2.52% 2.51% 2.05% 1.88% 1.83% 1.65% 1.57% 1.55% 1.32% 1.11% 0.96% 0.59% 0.54% 0.28% 0.27% 0.12% 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Dividend Frequency Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Annual Quarterly Quarterly Quarterly Quarterly Quarterly Semi‐Annual Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Annual Quarterly Semi‐Annual Quarterly Semi‐Annual Annual Irregular None None Irregular None None

Annual Dividend 0.600 1.960 2.500 3.180 1.200 2.464 1.793 1.960 1.040 1.760 2.640 1.306 1.800 0.685 1.320 2.440 1.280 0.840 1.000 1.220 1.120 0.900 1.080 2.560 0.245 0.250 0.090 0.420 0.180 0.040 0.000 0.000 0.000 0.000 0.000 0.000

EQUITY OPPORTUNITIES as of January 31, 2014 Global Growth Leaders & Technology Company Invesco Mortgage Capital Cedar Fair Lp Southern Co/The General Electric Co Mcdonald'S Corp Seagate Technology Procter & Gamble Co/The Lyondellbasell Indu‐Cl A Sturm Ruger & Co Inc Coca‐Cola Co/The Kohls Corp 3M Co Caterpillar Inc Apple Inc Dell Inc Intl Business Machines Corp Oracle Corp Home Depot Inc Hewlett‐Packard Co Qualcomm Inc Altera Corp Dover Corp Emc Corp/Ma Broadcom Corp‐Cl A Marvell Technology Group Ltd Joy Global Inc Infosys Ltd‐Sp Adr Whole Foods Market Inc Visa Inc‐Class A Shares Arm Holdings Plc‐Spons Adr Titan International Inc Roundy'S Inc Weight Watchers Intl Inc Cirrus Logic Inc Corelogic Inc Zillow Inc‐Class A Mwi Veterinary Supply Inc Wageworks Inc Broadsoft Inc Cerner Corp Darling International Inc Netflix Inc Fossil Group Inc Tempur Sealy International I

Ticker Symbol IVR FUN SO GE MCD STX PG LYB RGR KO KSS MMM CAT AAPL DELL IBM ORCL HD HPQ QCOM ALTR DOV EMC BRCM MRVL JOY INFY WFM V ARMH TWI RNDY WTW CRUS CLGX Z MWIV WAGE BSFT CERN DAR NFLX FOSL TPX

Sector

Price

Real Estate Investment Trusts Travel & Leisure Electricity General Industrials Travel & Leisure Technology Hardware & Equipment Household Goods & Home Construction Chemicals Aerospace & Defense Beverages General Retailers General Industrials Industrial Engineering Technology Hardware & Equipment Technology Hardware & Equipment Software & Computer Services Software & Computer Services General Retailers Technology Hardware & Equipment Technology Hardware & Equipment Technology Hardware & Equipment Industrial Engineering Technology Hardware & Equipment Technology Hardware & Equipment Technology Hardware & Equipment Industrial Engineering Software & Computer Services Food & Drug Retailers Financial Services Technology Hardware & Equipment Automobiles & Parts Food & Drug Retailers General Retailers Technology Hardware & Equipment Support Services Real Estate Investment & Services Support Services Support Services Software & Computer Services Software & Computer Services Food Producers General Retailers Personal Goods Household Goods & Home Construction

15.71 49.74 41.24 25.13 94.17 52.86 76.62 78.76 76.17 37.82 50.63 128.19 93.91 500.60 13.73 176.68 23.64 76.85 29.00 74.22 33.43 86.56 24.24 29.76 14.93 52.79 58.58 52.26 215.43 46.07 16.76 8.48 27.03 17.51 31.85 82.10 186.26 62.19 30.61 56.89 19.56 409.33 111.83 49.29

YTD % Chg 7.02% 0.32% 0.32% ‐10.35% ‐2.95% ‐5.88% ‐5.88% ‐1.89% 4.21% ‐8.45% ‐10.78% ‐8.60% 3.41% ‐10.77% ‐5.81% ‐3.55% ‐6.67% 3.65% ‐0.04% 2.83% ‐10.34% ‐3.62% 0.39% 3.82% ‐9.75% 3.50% ‐9.63% ‐3.26% ‐15.82% ‐6.79% ‐14.00% ‐17.92% ‐14.27% ‐10.36% 0.45% 9.59% 4.63% 12.04% 2.06% ‐6.32% 11.18% ‐6.76% ‐8.65%

Price/ Earnings 7.38 20.30 15.27 15.19 16.94 11.75 19.16 11.56 14.40 18.39 12.14 18.88 17.11 12.42 14.79 10.80 17.60 20.85 9.72 18.90 24.58 16.46 17.50 23.54 26.56 9.33 22.19 35.43 27.44 47.37 264.63 11.33 6.10 9.49 20.86 2218.92 37.25 111.05 25.38 44.62 19.33 171.04 17.89 22.71

Relative Strength 0.13 0.06 0.05 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

EPS Growth % ‐11.46 42.19 ‐30.37 6.47 2.59 ‐26.04 24.69 34.93 74.06 ‐29.08 ‐3.23 6.72 ‐32.61 ‐10.33 ‐28.42 3.65 15.08 21.69 n/a 27.07 ‐21.26 22.88 6.11 ‐42.64 ‐45.54 ‐30.62 13.16 16.08 140.06 39.54 57.14 n/a 2.64 57.04 150.00 259.62 16.98 ‐97.45 ‐63.64 27.47 ‐24.49 522.58 20.82 ‐46.79

50‐Day Moving Avg 15.08 49.19 40.95 26.81 95.89 54.13 81.64 78.28 75.59 39.86 54.37 133.06 88.07 545.48 13.70 181.55 36.38 80.05 27.74 73.34 32.03 92.64 24.63 28.43 14.25 55.20 56.62 55.20 214.09 49.95 17.43 9.18 31.53 19.72 34.62 80.19 175.47 60.10 26.70 55.73 20.49 361.55 120.12 50.39

Exchange Traded Funds Sectors 1/31/2014

1/31/2014

12/31/13 NAV

Current % Yield

MARKET PRICE

1/31/2014 YTD MARKET RETURN

1/31/2014

5 YR MKT RETURN

10 YR MKT RETURN

EXP. RATIO

ETF

SYMBOL

ASSET CLASS

FUND INCEPTION DATE

Financial Select Sector Spdr

XLF

Financial

12/22/98

21.05

1.52

21.06

‐3.66

19.87

‐1.03

0.17

SSgA Funds Management Inc

Consumer Discretionary Selt Consumer Staples Spdr Industrial Select Sect Spdr Energy Select Sector Spdr Health Care Select Sector

XLY XLP XLI XLE XLV

Consumer Discretionary Consumer Staples Industrials Energy Health Care

12/22/98 12/22/98 12/22/98 12/22/98 12/22/98

62.88 40.79 50.02 83.38 55.98

1.24 2.52 1.75 1.83 1.51

62.82 40.76 50.03 83.38 55.96

‐6.00 ‐5.17 ‐4.27 ‐5.80 0.94

28.61 16.20 22.05 14.19 18.64

8.62 9.08 8.46 13.19 7.92

0.17 0.17 0.17 0.17 0.17

SSgA Funds Management Inc SSgA Funds Management Inc SSgA Funds Management Inc SSgA Funds Management Inc SSgA Funds Management Inc

Materials Select Sector Spdr

XLB

Materials

12/22/98

44.06

2.18

44.04

‐4.72

18.77

8.14

0.17

SSgA Funds Management Inc

Technology Select Sect Spdr Utilities Select Sector Spdr

XLK XLU

Technology Utilities

12/22/98 12/22/98

34.83 39.11

1.75 3.75

34.82 39.10

‐2.57 2.98

20.80 10.63

6.49 9.02

0.17 0.17

SSgA Funds Management Inc SSgA Funds Management Inc

1/31/2014

12/31/13 NAV

Current % Yield

MARKET PRICE

1/31/2014 YTD MARKET RETURN

5 YR MKT RETURN

10 YR MKT RETURN

EXP. RATIO

MANAGER NAME

Indexes ETF

SYMBOL

ASSET CLASS

FUND INCEPTION DATE

Ishares S&P Small‐Cap 600 Va Vanguard Mid‐Cap Etf Ishares S&P Mid‐Cap 400 Valu Ishares Core S&P 500 Etf

IJS VO

Small Cap Mid Cap

07/28/00 01/30/04

107.43 79.34

0.25 0.10

107.35 107.39

‐3.51 ‐2.39

22.59 23.21

13.81 9.55

0.25 0.10

BlackRock Fund Advisors Vanguard Group Inc/The

IJJ IVV

Mid Cap Large Cap

07/28/00 05/19/00

114.32 179.20

0.25 0.07

114.29 179.17

‐1.67 ‐3.49

22.05 19.05

9.32 6.75

0.25 0.07

PRF

Large Cap

12/19/05

79.78

0.39

79.80

‐3.79

23.34

n/a

0.39

PID

International

09/15/05

17.47

0.56

17.49

‐5.05

17.58

n/a

0.56

BlackRock Fund Advisors BlackRock Fund Advisors Invesco PowerShares Capital Management LLC Invesco PowerShares Capital Management LLC

EEM EFA

Emerging Markets International

04/11/03 08/17/01

38.57 64.03

0.67 0.34

38.19 63.61

‐8.63 ‐5.19

13.03 13.80

9.21 5.99

0.67 0.34

BlackRock Fund Advisors BlackRock Fund Advisors

DIM EZU

International International

06/16/06 07/31/00

56.92 39.32

0.58 0.50

56.94 39.27

‐3.70 ‐5.10

15.78 12.59

n/a 5.29

0.58 0.50

WisdomTree Asset Management Inc BlackRock Fund Advisors

Powershares Ftse Rafi Us 1K Powershares Inter Dvd Achiev Ishares Msci Emerging Market Ishares Msci Eafe Etf Wisdomtree Intl M/C Dvd Fund Ishares Msci Emu Etf

MANAGER NAME

200 Crescent Court #657 Dallas, TX 75201 Phone: (214) 720-4400 Fax: (214) 720-4420 info@themcgowangroup.com

Thank you for listening to NetWorth Radio with Spencer McGowan on 570 KLIF! If you need anything in addition to the materials or have any questions, please give us a call at (214) 720-4400. Also if you missed any of the show or would like to listen to past shows, we now have podcasts available on our site at www.themcgowangroup.com If you would like to meet the team and upgrade your investment plan, please call us, (214) 720-4400. The consolidation process is surprisingly easy and we will walk you through every step. Schedule your 2014 planning meeting today! Our minimum consolidation is $500,000 per family. Please remember that if you are out of range of the station, you can listen live via the KLIF website at www.klif.com. Just click the green listen live icon and you should be connected. McGowanGroup Asset Management, Inc is a Federally Registered Investment Advisory Firm. Securities offered through independent firm, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA / SIPC McGowanGroup and Spire only transact business in states where it is properly registered or notice filed, or excluded or exempted from registration requirements. Follow-up and individualized responses that involve either the effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, as the case may be, will not be made absent compliance with state investment adviser and investment adviser representative registration requirements, or an applicable exemption or exclusion. All the materials presented in this guide are meant to be informational and used for educational purposes. Each situation is different and requires customization based on individual goals and risk tolerance. We recommend meeting with a financial professional before any action is taken. All articles used with permission. All trademarks are the property of their respective owners. No part of the information in this guide can be redistributed, copied, or reproduced without prior written consent of McGowan Group Asset Managemen and JPMorgan Asset Management.