OUTLOOK 2015 D+W Sector John Dauble+Worthington Rotation Worthington Equity Portfolios November 3

High Yield Plus Paul Signal Research Cunningham Group, LLC 4csns2.0 Stanley Four Seasons Capital Linsenbardt Growth NDX Trading Mark Pankin MDP Associates, LLC Dynamic Andre Lister Signaline Allocation Model Investments LLC

KKM Enhanced U.S. Jeff Kilburg KKM Financial Equity Fund

D+W Sector Rotation

John Worthington

Dauble+Worthington Equity Portfolios D+W Sector Rotation Model Why Sector Rotation? This University of Chicago study published in Investor's Business Daily suggests the true cause of stock movement.

Causes of Price Movement Typical Resource Allocation

10% 10% 31%

49%

20% 80%

Sector Company Market Sector Company Market

Source: Investor's Business Daily, "Check Out Industry Rankings Before You Purchase a Stock" by Nancy Gondo Sector Rotation Goals

• Identify outperforming sectors

of the market

• Add diversification to existing portfolios and lower market

correlation

• Avoid generational losses

*All data presented on this page reflect only completed (hypothetical and real) trades from 12/31/2001 through 6/30/15. Please see our complete tear sheet for more details and disclosures at www.dwequity.com. Sector Rotation Rules

• Investment universe: ProFunds 19 sector funds, in addition to cash.

• At any given time, the portfolio may invest in up to 5 sectors.

• Relative strength measures are used to determine the strongest sectors on an intermediate term basis (average trade lasts about 5.57 months).

• All sectors to be included in the model must also be outperforming cash and the S&P 500.

• During periods of market decline, (money market favored over S&P 500 long term) model will move 100% to cash.

*The Sector Rotation has been back tested to 12/31/2001. The backtested portfolio began 12/31/2001. Actual money traded began 1/31/2010. Please see our complete tear sheet for more details and disclosures at www.dwequity.com. Long or cash? Since 12/31/2001 our long-term market trend indicator has experienced two long periods and two cash periods:

Date Range S&P 500 D+W Sector performance Rotation 12/31/2001-6/4/2003 downtrend (cash) -13.76% -4.42%

6/5/2003-7/2/2008 uptrend (long) 27.41% 166.01%

7/3/2008-3/26/2009 downtrend (cash) -34.05% -1.49%

3/27/2009-9/30/15 (long) 130.53% 152.89% D+W Sector Rotation performance vs. S&P 500 Total Return Index* through 9/30/15

D+W Sector Rotation: Compound ROR: 14.37% Annualized Standard Deviation: 21.05% S&P 500 Total Return: Compound ROR: 5.92% Annualized Standard Deviation: 14.60% D+W Sector Rotation

S&P 500 TR

Growth of $1,000* *The D+W Sector Rotation has been backtested to 12/31/2001. The backtested portfolio began 12/31/2001. Actual money traded began 1/31/2010. Please see our complete tear sheet for more details and disclosures at www.dwequity.com. Benefits of D+W Sector Rotation • Efficient trading using • Proven 5+ year real track ProFunds UltraSector Funds record • Transparent performance • Independently verified updated daily via our performance (Theta Research) website

• 100% mechanically driven • Easy for clients to following technical signals understand and believe

• No shorting, infrequent trading, 1.5x leverage How to partner with Dauble+Worthington

• Model traded at Trust Company of America (Money Managers X-Change (MMX)) and ProFunds through solicitation agreement

• Custom branded tear sheets to match your firms’ look and feel

• Competitive payout to solicitor

• Signals also available through lease agreement

Contact info:

Jon A. Dauble - [email protected]

John A. Worthington - [email protected]

3116 E. Morgan Ave., Ste. A.

Evansville, IN 47711 812-401-8700 dwequity.com Please visit our website for more information and important disclosures. https://www.dwequity.com

High Yield Plus

Paul Cunningham

Signal Research Group, LLC HIGH YIELD BOND PLUS

For professional use only. Not intended for the public. GROWTH OF $100,000 $700,000 SRG HY PLUS $600,000 SRG HY $500,000 Lipper HY $400,000

$300,000

$200,000

$100,000

$0

Live trading began in December of 2014. UNDERWATER GRAPH - HY UNDERWATER GRAPH – HY 0% 0% PLUS -1% -1% -2% -2% -3% -3% -4% -4% -5% -5% -6% -6% -7% -7%

-8% -8%

Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015

Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015

Standar d Max 1/2004 to 10/2015 Annualiz Deviatio Drawdow # Up # Down Sharp ed Return n n Months Months e Alpha Beta

SRG HY 15.98 PLUS 17.05% 7.68% -3.15% 115 26 2.09 % 0.18

6.01 SRG HY 9.23% 6.10% -6.73% 99 42 1.48 % 0.53

Lipper HY 6.06% 9.15% -33.16% 99 42 0.69 BREAKDOWN OF RETURNS 60.0%

50.0% HY Bond

Long Gov't Bond 40.0% Inverse Gov't Bond

30.0%

20.0%

10.0%

0.0% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

-10.0% SCATTERPLOT OF RISK/RETURN Jan-2004 to Oct-2015

18% SRG HY PLUS 16%

14%

12%

10% SRG HY S&P 500 8% Return Lipper HY 6%

4%

2%

0% 0% 5% 10% 15% Volatility/Standard Deviation DISCLOSURES About Back-Tested Returns. Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results shown may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown above. Live trading began in December of 2014. Returns from the model are net of a 1.60% annual advisory fee. However, there could be additional transaction fees that have not been included in the report. Performance results reflect all dividends, capital gains, and interest being reinvested. Performance results were generated by applying the model's buy/sell signals to the Lipper High Yield Index, the Rydex Long Gov't Bond Fund (RYADX), and the Rydex Inverse Long Gov't Bond Fund (RYJUX). Therefore, actual client account performance varied from this report as investors cannot directly invest in an index. Model results are NOT BANK GUARANTEED, NOT FDIC INSUREDAND MAY LOSE MONEY. Past performance is not an indication of future results. The advisory fee paid is separate and distinct from the internal fees and expenses charged by mutual funds to their shareholders. These fees and expenses are described in each fund's prospectus, and will generally include a management fee, internal investment, custodial, and other expenses, and a possible distribution fee. Prospective clients should consider all of these fees and charges when deciding whether to invest in the program. Performance results do not reflect the impact of taxes. Client accounts may engage in a significant amount of trading. Gains and losses will generally be short-term in nature; consequently, this program will likely not be suitable for clients seeking tax efficiency. A variable annuity can be used to provide a tax-deferred investment vehicle. This strategy may be offered within a variable annuity. Variable annuities and mutual funds are sold only by prospectus Please carefully consider the product's features, risk, charges and expenses, and investment objectives, risks and policies of the underlying portfolios, as well as other information about underlying fund options, before investing. The prospectus, which contains this and other information about the investment company, can be obtained from your financial professional. Be sure to read the prospectus carefully before deciding whether to invest. The Standard & Poor's 500 Total Return Index (S&P 500TR) is a capitalization-weighted index of 500 stocks with dividends reinvested. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The Lipper High Yield Bond Index provides a measure of the performance of 30 of the largest high yield bond mutual funds. Securities are classified as high-yield if the middle rating of Moody's, Fitch, and S&P is Ba1/BB+/BB+ or below. The historical performance results of the S&P 500TR Index and the Lipper High Yield Bond Index do not reflect the deduction of transaction or custodial charges, nor the deduction of an advisory fee, which would decrease historical performance results. Investors cannot invest directly in the S&P 500TR Index or the Lipper High Yield Bond Index. Performance of the S&P 500TR Index and the Lipper High Yield Bond Index is provided solely for purposes of comparison, to assist prospective clients in determining whether this strategy is generally suitable for their account. The use of the S&P 500TR Index and the Lipper High Yield should not be construed as their endorsement of our management services. QUESTIONS?

4csns2.0

Stanley Linsenbardt

Four Seasons Capital Growth FOUR SEASONS CAPITAL GROWTH Signal Provider

STAN LINSENBARDT OWNER

NAAIM OUTLOOK 2015

4CSNS2.0 2X S&P S&P 500 LONG/ SHORT/ CASH (BENCHMARK)

ANNUALIZED YIELD 30% 10%

MAX DRAW DOWN -23% -12%

SHARPE RATIO 1.4

TIME IN MARKET 70% 100%

MONTHS TRADED 25.5 25.5

AS OF 10/15/2015 4CSNS2.0 2X S&P 500 4CSNS2.0 1X S&P 500 LONG/ SHORT/ CASH LONG/ CASH

ANNUALIZED YIELD 30% 14%

MAX DRAW DOWN -23% -9%

SHARPE RATIO 1.4 1.6

TIME IN MARKET 70% 45%

MONTHS TRADED 25.5 25.5

AS OF 10/15/2015 4CSNS2.0 1X S&P BOND FUND 50/50 500 1.2X COMBINATION LONG/ CASH LONG/ CASH

ANNUALIZED 14% 29% 21% YIELD

MAX DRAW -9% -5% -4% DOWN

SHARPE RATIO 1.6 2.7 3.7

TIME IN 45% 39% MARKET MONTHS 25.5 25.5 25.5 TRADED

AS OF 10/15/2015 FOUR SEASONS CAPITAL GROWTH

“Worth the Risk”

STAN LINSENBARDT

[email protected]

WWW.4CSNS.COM

NDX Trading

Mark Pankin

MDP Associates, LLC NDX Trading

MDP Associates NAAIM Shark Tank November 3, 2015 Mark Pankin

. Ph. D. in Math, U. of Illinois, Chicago . Marshall U., Huntington, WV – Math Prof. . Mathtech Inc., No. VA – Ops. Research . RIA since 1994 (Sector funds, TAA) . SAAFTI/NAAIM member since 1996 . Avid bicyclist . Webmaster of retrosheet.org

NDX Trading

. Method used since September 2002 . QQQ in TAA accounts (about 25%) . RYOCX in Rydex accounts: . Personal account . NAAIM account (since 6/2014)

Trading Method’s Logic

. Small caps attract the most speculative and “nervous” money . Likely to trend up after larger caps . Trend likely to end sooner . Actions of Russell 2000 useful for trading Nasdaq 100

Basic Trading Model

. Trend analysis of Russell 2000 . Confirmation by Nasdaq total volume and up and down volumes • MDP started trading it in Sept. 2002 • Developed by FastTrack community (Werner Ganz) in 2000 • Original parameters still used

Add “Spice” to Basic Model

. Move partially or fully to 2-beta fund . After trade has moved up 8-10% . Take advantage of strong NDX gains . Get out for small profit if trend ends soon . Possible during basic model sell signal . Seasonal trades in a sector fund . Bounce from “oversold”

How well has it worked?

. Compare . MDP = Trading in Rydex personal account . RYOCX = Rydex fund tracks Nasdaq 100 . VFINX = Vanguard Index 500 fund . We will see . Equity curves . Comparison of annual returns . Comparison of annual drawdowns . Summary data for 2002-Q4 to 2015-Q3 . Performance of NAAIM account

Percent Changes since 9/02

400% Maximum 300% Drawdowns: MDP -- 16.6% RYOCX -- 53.7% VFINX -- 55.3% 200%

RYOCX

100%

MDP VFINX

Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09 10 10 11 11 12 12 13 13 14 14 15 15 Annual Returns

60%

50%

40%

30%

20%

10% MDP RYOCX 0% VFINX

-10%

-20%

-30%

-40%

-50% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Annual Drawdowns

0%

-10%

-20%

MDP -30% RYOCX VFINX

-40%

-50%

-60% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Summary Data (13 years)

MDP RYOCX VFINX CAGR (2002-Q4 to 2015-Q3): 8.63% 12.71% 8.88% Exposure: 40.8% 100.0% 100.0%

Maximum Drawdown: -16.6% -53.7% -55.3% Date of Max DD: 3/30/09 11/20/08 3/9/09 Standard Deviation*: 11.02% 18.46% 14.11% Negative Deviation*: 5.85% 11.62% 9.51% Ulcer Index (daily returns): 4.48% 9.28% 8.86%

Sharpe Ratio: 0.66 0.61 0.53 Calmar Ratio: 0.52 0.24 0.16 * based on monthly returns and annualized Past performance is no guarantee of future returns NAAIM Account Returns

MDP* RYOCX RYSPX 2014-Q3 -0.29% 5.20% 0.71% 2014-Q4 3.77% 4.48% 4.35% 2015-Q1 -1.29% 2.42% 0.66% 2015-Q2 7.99% 1.46% -0.07% 2015-Q3 2.76% -4.85% -6.86% Total 13.34% 8.67% -1.56% Annualized 10.54% 6.88% -1.25% * includes MDP management fee, 50% of normal

Past performance is no guarantee of future returns Contact Information

Mark Pankin MDP Associates LLC 1018 N. Cleveland St. Arlington, VA 22201 [email protected] www.pankin.com

Dynamic Allocation Model

Andre Lister and John M. Davis

Signaline Investments LLC Signaline Investments The Dynamic Allocation Model Presented by Andre N. Lister and John M. Davis

For Financial Professional or Institutional Use Only. Not For Public Distribution. In search of low correlation and strong Equities diversification…. Fixed Income The strategy consists of three components: Equities; Fixed Income; and Gold. Gold Each component is managed individually and combined to create a holistic portfolio. Strategy can be used as a core or satellite. Holistic / Diversified Portfolio Momentum strategy that seeks to identify the strengths and weaknesses of 6 different ETFs. Primarily a long strategy, inverse ETFs are used to increase returns in down markets. No leverage used.

For Financial Professional or Institutional Use Only. Not For Public Distribution. Low Expenses to Investment Universe and Expense Ratios Maximize Value

Low cost structure to benefit both investors  VTI – Vanguard Total Stock Market and financial Index ETF (.05%) professionals. Signaline Investments  SH – ProShares Short S&P500 ETF (.89%) Management Fee: 45bps  JNK – SPDR Barclays High Yield Bond ETF (.40%) Maximum Expense*: 134bps  TLT – iShares 20+ Year Treasury Bond Minimum Expense*: ETF (.15%) 50bps  GLD – SPDR Gold Shares ETF (.40%)  DGZ – DB Gold Short ETN (.75%)

* Not Including Trading Costs

For Financial Professional or Institutional Use Only. Not For Public Distribution. Fixed Opportunities In Every Equities Gold Direction Income

Maximum of three securities held at one time; one from each of the three asset classes. Equities and Gold can be long, short, or cash. VTI JNK GLD Fixed Income uses a unique set of indicators to trade between JNK, TLT, or CASH. Momentum strategy using a defined set of rules to control buys and sells. Non-emotional trades. Moving averages and envelopes used to determine entry and exit points SH TLT DGZ for each trade. Core Value: Winning by not losing.

For Financial Professional or Institutional Use Only. Not For Public Distribution. Two Factors: Micro and Macro

 The Micro Indicators  The Macro Indicators • Micro Indicators control o Macro Indicators control the basic buy and sell of the allocation between each security. held securities. • Micro Indicators trump o Increased Allocation is Macro Indicators. controlled by the “Golden Cross”. • Each security is measured by its own distinct set of o Decreased Allocation is indicators and buy/sell controlled by the “Death rules. Cross”. • Long-security indicators o Where an Increased trump short-security Allocation is relative, a indicators. Decreased Allocation is a set 10%.

For Financial Professional or Institutional Use Only. Not For Public Distribution. Macro Indicator: The “Death Cross” and the “Golden Cross” The purpose of using a decreased allocation is to help reduce unwanted volatility in the portfolio, even when the Micro Indicator has a BUY on the security.

For Financial Professional or Institutional Use Only. Not For Public Distribution. Allocation Controlled By The Macro Indicators

 There are 27 possible portfolio allocations, including ALL CASH.  When all positions have an Increased Allocation Indicator, allocation is split evenly. A Decreased Allocation Indicator sets the given security at 10% and all other securities are allocated to evenly.  The model operates a “low-cash” system. When a position is reduced, cash generated is re-allocated evenly to positions with an Increased Allocation.

 Example: An Increased Allocation on VTI, Decreased Allocation on TLT, and Increased Allocation on DGZ would result in a portfolio mix of VTI (44%), TLT (10%), DGZ (44%), and CASH (2%).  The portfolio generally holds about 2% in CASH.

For Financial Professional or Institutional Use Only. Not For Public Distribution. Back-Tested Results Used As A Confidence Indicator

Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. For Financial Professional or Institutional Use Only. Not For Public Distribution. Back-Tested Portfolio Metrics

2015 Model Performance Through 3rd Qtr: -3.75% (Net of 2% Annual Fee) 2015 S&P500 TR Performance Through 3rd Qtr: -5.29%

For Financial Professional or Institutional Use Only. Not For Public Distribution. Contact Information and Disclaimers Signaline Investments This presentation has been prepared to provide you with general information only. Information provided does not constitute any investment recommendation. Portfolio Managers: Before making an investment decision, you need to consider whether this information is appropriate to André N. Lister – your objectives, financial situation, and needs. [email protected] For back-tested results, an annual wrap fee of 2% was included to simulate potential fees, expenses, sales John M. Davis – charges, and trading costs. Actual fees and expenses [email protected] could be higher or lower than the 2%. Prices used in calculating back-tested returns in the model may be Phone: 844-654-6365 different from actual executed trade prices. Back-tested trades were generally priced using the published Available through the VWAP for that security on that day. Actual trade data Envestnet/Placemark and UMA is used in the model from 06/18/2014 forward. Marketplace Platforms. The performance of, or any particular repayment of capital on any investment is not guaranteed. Past investment performance is not indicative of future Available on the broader Envestnet results. The value of investments and the income from Platform in 2016. them can fall as well as rise and are not guaranteed. You may not get back the amount of your original investment. Investment advice and financial planning offered We reserve the right at any time to change, amend, or through Financial Advocates Investment cease this investment program. Management, DBA Signaline Investments, a registered investment advisor. For Financial Professional or Institutional Use Only. Not For Public Distribution.

KKM Enhanced U.S. Equity Fund

Jeff Kilburg

KKM Financial KKM Enhanced U.S. Equity Fund KKMAX KKMIX

2015 Q4

Research provided by

kkmfinancial.com | 312.448.7230 | 141 W. Jackson Blvd. Suite 1711, Chicago, IL 60604

CONFIDENTIAL USE

This Presentation and any other information provided to the recipient by KKM Financial, LLC (“KKM”) is confidential and is intended for use only by the persons or entity to which it was furnished. This Presentation may not be distributed, reproduced or used without the express consent of KKM. This material has been prepared by KKM for informational purposes only.

DISCLAIMER

This document does not constitute an offer to sell or the solicitation of an offer to buy any security or investment product and should not be construed as such. The investment strategies presented may not be suitable for all types of clients. All investing involves risk including the possible loss of all amounts invested. Prospective clients should not rely solely on this Presentation in making a decision as to whether to retain KKM and should make an independent review of all available facts and information regarding KKM, including the economic benefits and risks of pursuing the strategies mentioned.

Research provided by

kkmfinancial.com | 312.448.7230 | 141 W. Jackson Blvd. Suite 1711, Chicago, IL 60604 53 KKM Enhanced U.S. Equity Fund In today's market environment, downside protection continues to be a primary focus for investors. The challenge, however, is to both generate positive returns and reduce downside risk. The KKM Enhanced U.S. Equity Fund seeks to be a solution to this challenge.

The KKM Enhanced U.S. Equity Fund offers investors the ability to strategically invest in a broadly diversified portfolio of U.S. stocks through ETFs (Exchange Traded Funds) with the enhanced diversification of an optimized volatility hedge (“The Umbrella”) that includes embedded daily tail-risk protection.

Our approach is simple – quantitatively select superior sectors inside of the 10 sectors that comprise the U.S. stock market and then dynamically allocate to volatility based upon methodology that utilizes historical and forward-looking market volatility trends.

The fund seeks to deliver comparable returns, before fees and expenses, of the CBOE VIX Tail Hedge IndexSM (VXTHSM) 80% U.S. Sector Selection + 20% “The Umbrella”

Research provided by

kkmfinancial.com | 312.448.7230 | 141 W. Jackson Blvd. Suite 1711, Chicago, IL 60604 54 Portfolio Overview Objective – To outperform the S&P 500 Index with smaller draw downs by investing in a diversified basket of sector and volatility ETFs. ”The Umbrella” 20%

U.S. Sectors, 80%

U.S. Sectors “The Umbrella”

1. Identify Sectors 1. Determine market behavior . Analyze 3 month, 6 month and 12 month trends in job  Is this a growth environment or contraction? creation, GDP and profitability  Is the market moving sideways? . Determine the 5 sectors or sub-sectors showing  Do we need protection from exogenous events, or tail growth opportunities risk? . Concentration strives to generate best opportunity for alpha 2. Select ETFs . Aim to capture alpha in bull markets and protect 2. Select ETFs principle in bear markets . Current opportunity set includes 10 sectors and more . Current opportunity set of 10 ETFs is available than 20 sub-sector ETFs Research. providedAllocation by based on ETF fundamentals 3. Hedge Tail Risk . A defined allocation to VIX call options ensures the portfolio is always net long volatility and hedged against tail risk events. kkmfinancial.com | 312.448.7230 | 141 W. Jackson Blvd. Suite 1711, Chicago, IL 60604 55 Sector Selection Objective: Identify 5 U.S. sectors or sub-sectors that have the opportunity to grow faster than the S&P 500 index.

Output from Leading Indicators Job creation, GDP impact, and profit realization in each sector

ETF Ownership Influence Compare ETF penetration to overall market weighting

Product Selection Expense ratio, AUM, trading volume, premium/discount, ETP structure, tax optimization

Allocation Diversification by sector, security and geography, market capitalization

Optimization Price/earnings, price/book value, price/sales, yield, ROE, concentration

Research provided by

kkmfinancial.com | 312.448.7230 | 141 W. Jackson Blvd. Suite 1711, Chicago, IL 60604 56 The Umbrella Objective – To profit from structural inefficiencies among volatility ETFs and provide downside protection to the overall portfolio.

Volatility Ingredients: Macro Term Economic Structure 1. Macro Economic Regime: Long Volatility Regime

 Expansion or contraction? Tail Risk Hedge Tail Risk 2. Volatility Term Structure: Hedge  Contango or backwardation? 3. Tail Risk Hedge:  Always remain tail-risk hedged “The Umbrella” Positions

Implied Long Realized Volatility Market Neutral Tail Hedged Volatility Harvesting

Tail Risk Event

Research provided by

kkmfinancial.com | 312.448.7230 | 141 W. Jackson Blvd. Suite 1711, Chicago, IL 60604 57 Portfolio Manager Jeff Kilburg started his career at the Chicago Board Options Exchange (CBOE). After learning equity options from Mercury Founders Jon and Pete Najarian, Mr. Kilburg was offered an opportunity in the Chicago Board of Trade (CBOT) bond option pit. He had the opportunity to learn from a team of veteran traders with one of the premier firms, Ritchie Capital Markets Group at the CBOT. There he was first introduced to volatility. After gaining a footing in the fixed income option, Mr. Kilburg gravitated to the bond futures pits. Subsequently, he joined a specialist group in the thirty-year pit, JLS Group. The thirty-year pit in the 1990s was a riveting opportunity and became his starting point in futures. Mr. Kilburg is regarded as one of the industry’s premier futures traders and is a member of the Futures Now team on CNBC. In early 1999, he decided to launch a floor operation of his own. He went on to become one of the larger market makers in the ten-year note pit. With the ability to trade the entire Treasury curve, Mr. Kilburg obtained vast experience in understanding risk management. His deep understanding of the Treasury curve has proven applicable for various futures markets and truly helps separate Mr. Kilburg from his peers. Risk management was imperative as he transitioned his floor operations into a registered investment advisory firm in 2012. KKM Financial is a liquid alternative investment firm. Mr. Kilburg gained national recognition in 2012 when he called, on CNBC, for the ten-year to fall to historic lows (under 1.5%). Since then, Mr. Kilburg has had an exclusive contract as a CNBC contributor and is on air regularly. He is also the recipient of a four-year football scholarship (under Lou Holtz) and a graduate of the University of Notre Dame.

Research ProvidersScott D. Martin is Chief Market Strategist of United Advisors, a diversified financial services company and CEO of Accent Asset Management. He is frequently featured on radio and television; and he is a contributor to and commentator on Fox Business Network. Prior to joining United Advisors, Mr. Martin was Managing Director at Astor Asset Management where he supervised new advisory relationships for the company and oversaw significant growth in the firm’s assets under management during his tenure. Mr. Martin also served on Astor’s portfolio management team beginning in 2004 and was co-portfolio manager on all of Astor’s ETF-based separate account programs as well as Astor’s mutual fund, which was launched in 2009. At the company, he authored the weekly “Astor Long/Short Balanced Update” newsletter, which received the NAAIM President’s Award for excellence in financial newsletter writing. A recognized graduate from Denison University, Mr. Martin completed a double major in Economics and French, and spent months abroad studying the introduction of the Euro currency and its impact on European markets. Mr. Martin began his career in the financial industry with TD Waterhouse Investment Services Corporation, concentrating on portfolio services for high net worth clients at the firm. A frequent speaker and lecturer, Mr. Martin has been featured in print and broadcast media such as The Wall Street Journal, Investor’s Business Daily, Bloomberg, and CNBC. He is currently a contributor to Fox Business Network and is a former columnist with TheStreet.com. Michael J. Venuto is Co-Founder and Chief Investment Officer of Toroso Investments, LLC. He has over 16 years experience in the asset management business. Michael oversees asset allocation and security selection for both Toroso’s 401k and SMA business. He is also the lead portfolio manager for the the Toroso Newfound Tactical Allocation Fund. His most recent position was Head of Investments at Global X Funds where Michael provided portfolio optimization services to institutional clients. Previously he was Senior Vice President at Horizon Kinetics where his responsibilities included new business development, investment strategy, client and strategic initiatives. As Director of the Private Client Group, Michael managed the financial advisory team, client service group and marketing strategy for $1.6 billion in client accounts. Michael also served on Horizon’s Investment Committee where he helped implement the firm’s “Core Value” portfolio, as well as portfolio customization strategies on behalf of high net worth individuals. Additionally, he developed and implemented a fixed income portfolio utilizing exchange traded products. Michael was also instrumental in the establishment of multiple strategic investments and partnerships related to ETFs, Exchanges and Indexation. In 2014, Michael was chosen as one the ETF.COM All Stars for his research and is often quoted as an ETF expert in publications such as Reuters and Barron's.

kkmfinancial.com | 312.448.7230 | 141 W. Jackson Blvd. Suite 1711, Chicago, IL 60604 58