The SIGMA™ Mutual Fund Solution - Envestnet...The SIGMA™ Mutual Fund Solution has an established track record of providing advisors with professionally managed model mutual fund

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© 2014 Envestnet. All rights reserved. FOR ONE-ON-ONE USE WITH A CLIENT’S FINANCIAL ADVISOR ONLY. 1

The SIGMA™ Mutual Fund SolutionQuarterly Performance Summary (as of 12/31/13)

PERFORMANCE SNAPShOT

4th Quarter YTD 1 Year 3 Year 5 Year 10 Year

Fixed Income Portfolio (Gross) 0.36% -0.37% -0.37% 3.65% 7.11% 4.71%Fixed Income Portfolio (Net 0.70%) 0.19% -1.06% -1.06% 2.93% 6.37% 3.99%Benchmark -0.14% -2.02% -2.02% 3.26% 4.44% 4.55%

Capital Preservation Portfolio (Gross) 1.71% 3.27% 3.27% 5.27% 8.45% 5.41%Capital Preservation Portfolio (Net 0.70%) 1.54% 2.56% 2.56% 4.54% 7.71% 4.69%Benchmark 1.74% 4.92% 4.92% 5.28% 6.94% 5.19%

Capital Preservation Portfolio Muni (Gross) 1.99% 3.90% 3.90% 5.29% 6.67% 4.13%Capital Preservation Portfolio Muni (Net 0.70%) 1.81% 3.18% 3.18% 4.57% 5.94% 3.41%Benchmark 2.02% 3.49% 3.49% 6.86% 8.51% 5.18%

Conservative Portfolio (Gross) 2.70% 6.56% 6.56% 6.06% 9.97% 5.71%Conservative Portfolio (Net 0.70%) 2.50% 5.81% 5.81% 5.32% 9.21% 4.98%Benchmark 2.93% 8.88% 8.88% 6.86% 8.99% 5.67%

Conservative Portfolio Muni (Gross) 2.80% 6.76% 6.76% 6.04% 8.43% 4.57%Conservative Portfolio Muni (Net 0.70%) 2.62% 6.02% 6.02% 5.31% 7.69% 3.85%Benchmark 3.16% 7.65% 7.65% 8.20% 10.22% 5.67%

Conservative Growth Portfolio (Gross) 3.20% 8.33% 8.33% 6.48% 11.11% 5.56%Conservative Growth Portfolio (Net 0.70%) 3.00% 7.55% 7.55% 5.73% 10.34% 4.83%Benchmark 4.07% 12.86% 12.86% 8.33% 10.77% 6.13%

Conservative Growth Portfolio Muni (Gross) 3.35% 8.72% 8.72% 6.56% 9.92% 4.81%Conservative Growth Portfolio Muni (Net 0.70%) 3.18% 7.98% 7.98% 5.83% 9.17% 4.08%Benchmark 4.26% 11.84% 11.84% 9.43% 11.72% 6.13%

Moderate Portfolio (Gross) 4.19% 12.44% 12.44% 7.47% 12.40% 6.24%Moderate Portfolio (Net 0.70%) 3.97% 11.64% 11.64% 6.72% 11.63% 5.50%Benchmark 5.31% 17.29% 17.29% 9.90% 12.44% 6.67%

Moderate Portfolio Muni (Gross) 4.26% 12.52% 12.52% 7.69% 11.72% 5.73%Moderate Portfolio Muni (Net 0.70%) 4.08% 11.76% 11.76% 6.96% 10.96% 5.00%Benchmark 5.45% 16.51% 16.51% 10.73% 13.18% 6.66%

Moderate Growth Portfolio (Gross) 5.27% 15.96% 15.96% 7.97% 13.63% 6.89%Moderate Growth Portfolio (Net 0.70%) 5.01% 15.08% 15.08% 7.20% 12.84% 6.15%Benchmark 6.50% 21.59% 21.59% 11.37% 14.00% 7.13%

Moderate Growth Portfolio Muni (Gross) 5.32% 16.14% 16.14% 8.23% 13.53% 6.60%Moderate Growth Portfolio Muni (Net 0.70%) 5.14% 15.35% 15.35% 7.49% 12.76% 5.87%Benchmark 6.59% 21.05% 21.05% 11.94% 14.50% 7.12%

Growth Portfolio (Gross) 6.15% 18.95% 18.95% 8.64% 15.00% 6.85%Growth Portfolio (Net 0.70%) 5.86% 18.03% 18.03% 7.86% 14.20% 6.10%Benchmark 7.64% 25.90% 25.90% 12.72% 15.59% 7.46%

Growth Portfolio Muni (Gross) 6.05% 18.69% 18.69% 8.67% 14.77% 6.59%Growth Portfolio Muni (Net 0.70%) 5.87% 17.90% 17.90% 7.93% 13.99% 5.86%Benchmark 7.69% 25.61% 25.61% 13.02% 15.85% 7.46%

Aggressive Portfolio (Gross) 7.10% 22.57% 22.57% 9.48% 15.93% 7.32%Aggressive Portfolio (Net 0.70%) 6.76% 21.57% 21.57% 8.68% 15.11% 6.57%Benchmark 8.88% 30.70% 30.70% 14.16% 17.14% 7.86%

Net performance is calculated by deducting 0.70%, which represents 0.40% platform and management fees and 0.30% custody fee. Net performance calculation does not include advisory fees which the advisor may add.


© 2014 Envestnet. All rights reserved. 2 FOR ONE-ON-ONE USE WITH A CLIENT’S FINANCIAL ADVISOR ONLY.

OVERVIEWThe SIGMA™ Mutual Fund Solution has an established track record of providing advisors with professionally managed model mutual fund portfolios for their clients. The portfolios are actively managed on an ongoing basis, and are based on your clients’ investment objectives. It is comprehensive, turn-key, objective, and results focused.

We believe that the SIGMA™ Mutual Fund Solution offers advisors and their clients:• Professionallymanaged,diversifiedsolutionsforclientswith$50,000inassetsandabove• Historyofprovenmutualfundselectionandportfoliomanagementprocesssince1996• Adisciplined,effectiveinvestmentstrategy• Taxefficientportfoliosavailable*• Continuousmonitoringandreporting

* NeitherPMCnoritsrepresentativesrendertax,accountingorlegaladvice.Anytaxstatementscontainedhereinarenotintendedorwrittentobeused,andcannotbeused,forthepurposeofavoidingU.S.federal,state,orlocaltaxpenalties.Taxpayersshouldalwaysseekadvicebasedontheirownparticularcircumstancesfromanindependenttaxadvisor.

FixedIncome (100)

CapitalPreservation (20/80)

Conservative (35/65)

Conservative Growth (45/55)

Moderate (60/40)

Moderate Growth (75/25)

Growth (85/15)

Aggressive (100)

8 Target Allocation Strategies

●FixedIncomeAllocation● Equity Allocation



Fixed Income (100) as of 12/31/13ALLOCATIONS

Pastperformanceisnotindicativeoffutureresults.CurrentperformancefortheSIGMA™MutualFundSolutionandanythirdpartyfundmaybehigherorlowerthanthedatashown.Returns assume reinvestment of all dividends and capital gains. Net performance is calculated by deducting 0.70%, which represents 0.40% platform and management fees and0.30%custodyfee.Netperformancecalculationdoesnotincludeadvisoryfeeswhichtheadvisormayadd.Capitalgains,ifany,willbesubjecttotax.Investmentreturnandprincipal value will fluctuate in response to interest rates and other market conditions so that shares, when redeemed, may be worth more or less than original cost. An investment inthisportfolioissubjecttomarketriskandaninvestormayexperiencelossofprincipal.Pleaserefertothelastpageofthepresentationforadetailedperformancedisclosure.

PERFORMANCE

Fixed Income Portfolio

Fixed Income Portfolio (Net 0.70%)

Benchmark

4Q13 0.36% 0.19% -0.14%

YTD -0.37% -1.06% -2.02%

1 Year -0.37% -1.06% -2.02%

3 Year 3.65% 2.93% 3.26%

5 Year 7.11% 6.37% 4.44%

10 Year 4.71% 3.99% 4.55%

2013 -0.37% -1.06% -2.02%

2012 7.16% 6.43% 4.21%

2011 4.29% 3.57% 7.84%

2010 7.56% 6.82% 6.54%

2009 17.70% 16.91% 5.93%

2008 -6.91% -7.57% 5.24%

2007 7.26% 6.52% 6.97%

2006 3.78% 3.06% 4.33%

2005 2.69% 1.97% 2.43%

2004 5.66% 4.93% 4.34%

2003 6.09% 5.36% 4.10%

RISk MEASuRES (Gross)

Statistic 3 Year 5 Year 10 Year

Standard Dev. 2.75% 4.36% 4.75%

Sharpe Ratio 1.3 1.61 0.66

Alpha 2.81% 3.99% 1.41%

Beta 0.26 0.70 0.74

R Squared 8.5% 26.9% 29.8%

● 47% Intermediate BondPIMCOTotalReturnInstl(17%)Fidelity GNMA Fund (15%)Vanguard Interm-Term Invmt-Grade Inv (15%)

● 45% Short BondPIMCOLowDurationInstl(25%)FPANewIncome(20%)

● 6% High YieldPIMCOHighYieldInstl

● 2% Cash



Capital Preservation (20/80) as of 12/31/13ALLOCATIONS


PERFORMANCE

Capital Preservation Portfolio

Capital Preservation Portfolio (Net 0.70%)

Benchmark

4Q13 1.71% 1.54% 1.74%

YTD 3.27% 2.56% 4.92%

1 Year 3.27% 2.56% 4.92%

3 Year 5.27% 4.54% 5.28%

5 Year 8.45% 7.71% 6.94%

10 Year 5.41% 4.69% 5.19%

2013 3.27% 2.56% 4.92%

2012 9.93% 9.18% 6.53%

2011 2.75% 2.03% 4.41%

2010 8.00% 7.26% 8.18%

2009 19.06% 18.27% 10.76%

2008 -11.82% -12.46% -6.62%

2007 7.05% 6.32% 7.10%

2006 7.44% 6.71% 7.23%

2005 3.37% 2.66% 3.72%

2004 7.72% 6.98% 6.63%

2003 12.19% 11.43% 11.45%

EQuITY SECTOR ALLOCATIONS

Sector Weighting

Energy 6.41%

Financial Services 19.84%

Industrials 7.55%

Technology 8.28%

Consumer Cyclical 11.56%

Basic Materials 5.10%

Communication Services 3.70%

Healthcare 12.86%

Real Estate 13.02%

Consumer Defensive 10.78%

Utilities 0.89%

Allocations may not add up to 100% due to rounding.



Standard Dev. 4.74% 7.22% 6.05%


Alpha -2.92% -1.19% -0.73%

Beta 1.65 1.3 1.2

R Squared 91.86% 85.28% 85.85%

● 47% Intermediate BondPIMCOTotalReturnInstl

● 5% Int’l Developed MktsMainStayICAPInternationalI

● 13% Short BondPIMCOShort-TermInstl

● 3% Small Cap ValueNorthern Small Cap Value

● 10% Inflation-ProtectedBondPIMCORealReturnInstl


● 5% Large-Cap GrowthAston/Montag & Caldwell Growth N

● 2% REITsING Global Real Estate W

● 5% Large-Cap CoreSelected American Shares S

● 2% CashCore Money Market

● 5% International BondT.RowePriceInternationalBond



Capital Preservation with Municipals (20/80) as of 12/31/13ALLOCATIONS


PERFORMANCE

Capital Preservation Portfolio

Capital Preservation Portfolio (Net 0.70%)

Benchmark

4Q13 1.99% 1.81% 2.02%

YTD 3.90% 3.18% 3.49%

1 year 3.90% 3.18% 3.49%

3 year 5.29% 4.57% 6.86%

5 year 6.67% 5.94% 8.51%

10 Year 4.13% 3.41% 5.18%

2013 3.90% 3.18% 3.49%

2012 6.34% 5.61% 8.87%

2011 5.65% 4.92% 8.30%

2010 3.66% 2.95% 4.98%

2009 14.14% 13.37% 17.45%

2008 -10.58% -11.22% -12.40%

2007 4.01% 3.29% 4.18%

2006 6.95% 6.22% 8.04%

2005 2.96% 2.24% 4.58%

2004 6.00% 5.27% 6.84%

2003 9.55% 8.80% 11.95%


Sector Weighting

Energy 6.41%


Industrials 7.55%

Technology 8.28%




Healthcare 12.86%

Real Estate 13.02%


Utilities 0.89%




Standard Dev. 3.12% 5.05% 4.70%


Alpha -0.59% -0.79% -0.21%

Beta 0.86 0.88 0.84

R Squared 90.10% 93.81% 95.03%

● 56% Intermediate MuniDWSIntermediateTax/AMTFreeS(28%)Fidelity Advisor Int Muni Inc I (28%)

● 22% Short MuniVanguardLtd-TermTx-Ex

● 5% Int’l Developed MktsMainStayICAPInternationalI



● 3% Small-Cap ValueNorthern Small Cap Value





Conservative (35/65) as of 12/31/13ALLOCATIONS


PERFORMANCE

Conservative Portfolio

Conservative Portfolio (Net 0.70%)

Benchmark

4Q13 2.70% 2.50% 2.93%

YTD 6.56% 5.81% 8.88%

1 Year 6.56% 5.81% 8.88%

3 Year 6.06% 5.32% 6.86%

5 Year 9.97% 9.21% 8.99%

10 Year 5.71% 4.98% 5.67%

2013 6.56% 5.83% 8.88%

2012 10.79% 10.04% 8.23%

2011 1.05% 0.34% 3.54%

2010 8.95% 8.21% 8.84%

2009 23.73% 22.90% 15.78%

2008 -20.18% -20.77% -15.91%

2007 7.61% 6.88% 7.03%

2006 9.83% 9.08% 10.14%

2005 4.24% 3.52% 4.87%

2004 10.16% 9.41% 8.63%

2003 17.92% 17.13% 17.08%


Sector Weighting

Energy 6.03%


Industrials 9.29%

Technology 8.82%




Healthcare 13.07%

Real Estate 11.73%


Utilities 0.54%




Standard Dev. 6.75% 9.48% 8.76%


Alpha -3.39% -0.72% -0.98%

Beta 1.41 1.2 1.2

R Squared 94.87% 94.89% 95.13%


● 12% Int’l Developed MktsHarbor International Instl (4%)MainStayICAPInternationalI(8%)


● 8% Short BondPIMCOShort-TermInstl







● 2% CommodityCredit Suisse Commodity Ret Strat Instl

● 3% Small-Cap CoreBroadview Opportunity




Conservative with Municipals (35/65) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.03%


Industrials 9.29%

Technology 8.82%




Healthcare 13.07%

Real Estate 11.73%


Utilities 0.54%




Standard Dev. 5.25% 8.09% 7.65%


Alpha -2.44% -1.88% -0.87%

Beta 1.05 1.02 0.97

R Squared 94.19% 97.21% 97.65%

PERFORMANCE

Conservative Portfolio

Conservative Portfolio (Net 0.70%)

Benchmark

4Q13 2.80% 2.62% 3.16%

YTD 6.76% 6.02% 7.65%

1 year 6.76% 6.02% 7.65%

3 year 6.04% 5.31% 8.20%

5 year 8.43% 7.69% 10.22%

10 Year 4.57% 3.85% 5.67%

2013 6.76% 6.02% 7.65%

2012 7.78% 7.04% 10.20%

2011 3.63% 2.91% 6.78%

2010 5.11% 4.38% 6.19%

2009 19.60% 18.80% 20.94%

2008 -19.00% -19.60% -19.95%

2007 4.95% 4.23% 4.87%

2006 9.29% 8.55% 10.74%

2005 4.03% 3.31% 5.50%

2004 7.90% 7.16% 8.78%

2003 15.29% 14.52% 17.44%













Conservative Growth (45/55) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.24%


Industrials 9.84%

Technology 8.39%




Healthcare 12.37%

Real Estate 12.07%


Utilities 0.55%




Standard Dev. 8.27% 11.67% 11.17%


Alpha -3.22% -0.87% -1.33%

Beta 1.2 1.12 1.15

R Squared 94.98% 95.90% 96.38%

PERFORMANCE

Conservative Growth Portfolio

Conservative Growth Portfolio (Net 0.70%)

Benchmark

4Q13 3.20% 3.00% 4.07%

YTD 8.33% 7.55% 12.86%

1 year 8.33% 7.55% 12.86%

3 year 6.48% 5.73% 8.33%

5 year 11.11% 10.34% 10.77%

10 Year 5.56% 4.83% 6.13%

2013 8.33% 7.58% 12.86%

2012 11.82% 11.06% 9.93%

2011 -0.34% -1.04% 2.46%

2010 9.48% 8.73% 9.69%

2009 28.12% 27.28% 19.59%

2008 -27.59% -28.13% -22.60%

2007 7.86% 7.12% 7.03%

2006 11.48% 10.72% 12.47%

2005 4.72% 4.00% 5.83%

2004 11.25% 10.49% 10.22%

2003 22.09% 21.28% 21.46%



● 8% Large-Cap CoreSelected American Shares S (5%)LongleafPartners(3%)





● 3% Large-Cap ValueJHancock Disciplined Value I







Conservative Growth with Municipals (45/55) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.24%


Industrials 9.84%

Technology 8.39%




Healthcare 12.37%

Real Estate 12.07%


Utilities 0.55%




Standard Dev. 7.07% 10.51% 10.20%


Alpha -2.98% -1.97% -1.30%

Beta 1.03 1.03 1.01

R Squared 97.04% 98.18% 98.35%

PERFORMANCE

Conservative Growth Portfolio

Conservative Growth Portfolio (Net 0.70%)

Benchmark

4Q13 3.35% 3.18% 4.26%

YTD 8.72% 7.98% 11.84%

1 year 8.72% 7.98% 11.84%

3 year 6.56% 5.83% 9.43%

5 year 9.92% 9.17% 11.72%

10 Year 4.81% 4.08% 6.13%

2013 8.72% 7.98% 11.84%

2012 9.12% 8.37% 11.53%

2011 2.00% 1.29% 5.05%

2010 6.45% 5.71% 7.56%

2009 24.56% 23.74% 23.49%

2008 -26.10% -26.66% -25.42%

2007 5.96% 5.23% 5.45%

2006 10.95% 10.19% 12.91%

2005 4.61% 3.89% 6.29%

2004 9.66% 8.92% 10.33%

2003 19.60% 18.80% 21.73%




● 8% Large-Cap CoreLongleafPartners(3%)Selected American Shares S (5%)










Moderate (60/40) as of 12/31/13ALLOCATIONS


PERFORMANCE

Moderate Portfolio

Moderate Portfolio (Net 0.70%)

Benchmark

4Q13 4.19% 3.97% 5.31%

YTD 12.44% 11.64% 17.29%

1 Year 12.44% 11.64% 17.29%

3 Year 7.47% 6.72% 9.90%

5 Year 12.40% 11.63% 12.44%

10 Year 6.24% 5.50% 6.67%

2013 12.44% 11.68% 17.29%

2012 12.48% 11.71% 11.75%

2011 -1.85% -2.54% 1.25%

2010 10.40% 9.65% 10.84%

2009 30.91% 30.05% 22.20%

2008 -31.69% -32.21% -26.99%

2007 8.94% 8.20% 7.13%

2006 14.23% 13.46% 14.22%

2005 6.62% 5.89% 6.60%

2004 12.63% 11.86% 11.42%

2003 26.25% 25.42% 24.55%


Sector Weighting

Energy 6.02%


Industrials 9.88%

Technology 9.42%




Healthcare 14.41%

Real Estate 11.44%


Utilities 0.51%




Standard Dev. 10.26% 14.06% 13.31%


Alpha -3.29% -1.32% -1.16%

Beta 1.12 1.12 1.14

R Squared 96.93% 97.27% 97.26%



● 10% Large-Cap GrowthAston/Montag & Caldwell Growth N (6%)PRIMECAPOdysseyGrowth(4%)





● 2% Small-Cap CoreOppenheimer Main Street Sm & Mid Cap A








Moderate with Municipals (60/40) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.02%


Industrials 9.88%

Technology 9.42%




Healthcare 14.41%

Real Estate 11.44%


Utilities 0.51%




Standard Dev. 9.28% 13.00% 12.55%


Alpha -3.04% -1.90% -1.14%

Beta 1.02 1.05 1.05

R Squared 98.08% 98.47% 98.18%

PERFORMANCE

Moderate Portfolio

Moderate Portfolio (Net 0.70%)

Benchmark

4Q13 4.26% 4.08% 5.45%

YTD 12.52% 11.76% 16.51%

1 year 12.52% 11.76% 16.51%

3 year 7.69% 6.96% 10.73%

5 year 11.72% 10.96% 13.18%

10 Year 5.73% 5.00% 6.66%

2013 12.52% 11.76% 16.51%

2012 10.72% 9.97% 12.95%

2011 0.25% -0.45% 3.16%

2010 8.30% 7.56% 9.25%

2009 28.65% 27.81% 25.19%

2008 -30.94% -31.47% -29.05%

2007 7.79% 7.06% 5.94%

2006 13.54% 12.77% 14.55%

2005 6.76% 6.02% 6.94%

2004 11.16% 10.40% 11.50%

2003 23.47% 22.66% 24.75%

● 38% Intermediate MuniDWSIntermediateTax/AMTFreeS(19%)Fidelity Advisor Int Muni Inc (19%)







● 2% Mid-Cap CoreOppenheimer Main Street Sm & Mid Cap A






Moderate Growth (75/25) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.26%


Industrials 9.78%

Technology 9.96%




Healthcare 13.51%

Real Estate 9.81%


Utilities 0.64%




Standard Dev. 12.49% 16.08% 15.14%


Alpha -4.14% -1.36% -0.79%

Beta 1.1 1.09 1.1

R Squared 97.83% 97.42% 97.28%

PERFORMANCE

Moderate Growth Portfolio

Moderate Growth Portfolio (Net 0.70%)

Benchmark

4Q13 5.27% 5.01% 6.50%

YTD 15.96% 15.08% 21.59%

1 year 15.96% 15.08% 21.59%

3 year 7.97% 7.20% 11.37%

5 year 13.63% 12.84% 14.00%

10 Year 6.89% 6.15% 7.13%

2013 15.96% 15.17% 21.59%

2012 13.06% 12.29% 13.42%

2011 -4.00% -4.68% 0.15%

2010 12.62% 11.86% 11.73%

2009 33.65% 32.78% 24.79%

2008 -35.02% -35.53% -31.22%

2007 11.06% 10.31% 7.23%

2006 16.06% 15.28% 15.98%

2005 8.40% 7.66% 7.36%

2004 13.22% 12.45% 12.61%

2003 28.86% 28.01% 27.66%











● 3% Int’l Emerging MktsT.RowePriceEmergingMarketsStock





Moderate Growth with Municipals (75/25) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.26%


Industrials 9.78%

Technology 9.96%




Healthcare 13.51%

Real Estate 9.81%


Utilities 0.64%




Standard Dev. 11.93% 15.51% 14.91%


Alpha -4.05% -1.59% -0.88%

Beta 1.06 1.06 1.07

R Squared 98.35% 97.93% 97.66%

PERFORMANCE

Moderate Growth Portfolio

Moderate Growth Portfolio (Net 0.70%)

Benchmark

4Q13 5.32% 5.14% 6.59%

YTD 16.14% 15.35% 21.05%

1 year 16.14% 15.35% 21.05%

3 year 8.23% 7.49% 11.94%

5 year 13.53% 12.76% 14.50%

10 Year 6.60% 5.87% 7.12%

2013 16.14% 15.35% 21.05%

2012 12.08% 11.32% 14.24%

2011 -2.59% -3.28% 1.43%

2010 11.49% 10.73% 10.66%

2009 33.45% 32.58% 26.83%

2008 -35.52% -36.02% -32.56%

2007 10.01% 9.26% 6.43%

2006 15.72% 14.94% 16.20%

2005 8.62% 7.88% 7.59%

2004 12.68% 11.92% 12.66%

2003 28.42% 27.58% 27.80%


● 21% Int’l Developed MktsMainStayICAPInternationalI(10%)Harbor International Instl (11%)



● 12% Large-Cap GrowthPRIMECAPOdysseyGrowth(4%)Aston/Montag & Caldwell Growth N (8%)










Growth (85/15) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.35%


Industrials 9.72%

Technology 10.67%




Healthcare 13.22%

Real Estate 8.83%


Utilities 0.70%




Standard Dev. 13.88% 17.50% 16.87%


Alpha -4.04% -0.98% -0.97%

Beta 1.03 1.04 1.08

R Squared 98.48% 97.13% 96.84%

PERFORMANCE

Growth Portfolio

Growth Portfolio (Net 0.70%)

Benchmark

4Q13 6.15% 5.86% 7.64%

YTD 18.95% 18.03% 25.90%

1 year 18.95% 18.03% 25.90%

3 year 8.64% 7.86% 12.72%

5 year 15.00% 14.20% 15.59%

10 Year 6.85% 6.10% 7.46%

2013 18.95% 18.15% 25.90%

2012 13.40% 12.63% 15.10%

2011 -4.93% -5.61% -1.17%

2010 13.98% 13.20% 13.32%

2009 37.63% 36.74% 27.13%

2008 -39.83% -40.31% -35.01%

2007 11.22% 10.47% 6.99%

2006 16.32% 15.54% 17.21%

2005 9.18% 8.43% 7.73%

2004 13.43% 12.67% 13.36%

2003 30.90% 30.05% 30.39%
















Growth with Municipals (85/15) as of 12/31/13ALLOCATIONS



Sector Weighting

Energy 6.35%


Industrials 9.72%

Technology 10.67%




Healthcare 13.22%

Real Estate 8.83%


Utilities 0.70%




Standard Dev. 13.58% 17.23% 16.77%


Alpha -4.08% -1.29% -1.14%

Beta 1.01 1.03 1.06

R Squared 98.62% 97.37% 97.02%

PERFORMANCE

Growth Portfolio

Growth Portfolio (Net 0.70%)

Benchmark

4Q13 6.05% 5.87% 7.69%

YTD 18.69% 17.90% 25.61%

1 year 18.69% 17.90% 25.61%

3 year 8.67% 7.93% 13.02%

5 year 14.77% 13.99% 15.85%

10 Year 6.59% 5.86% 7.46%

2013 18.69% 17.90% 25.61%

2012 12.78% 12.02% 15.53%

2011 -4.13% -4.81% -0.51%

2010 12.95% 12.18% 12.76%

2009 37.35% 36.46% 28.18%

2008 -40.12% -40.60% -35.66%

2007 10.82% 10.07% 6.59%

2006 16.25% 15.46% 17.32%

2005 8.97% 8.23% 7.84%

2004 13.15% 12.38% 13.39%

2003 30.83% 29.97% 30.45%















Aggressive (100) as of 12/31/13ALLOCATIONS


PERFORMANCE

Aggressive Portfolio

Aggressive Portfolio (Net 0.70%)

Benchmark

4Q13 7.10% 6.76% 8.88%

YTD 22.57% 21.57% 30.70%

1 Year 22.57% 21.57% 30.70%

3 Year 9.48% 8.68% 14.16%

5 Year 15.93% 15.11% 17.14%

10 Year 7.32% 6.57% 7.86%

2013 22.57% 21.75% 30.70%

2012 14.21% 13.44% 16.90%

2011 -6.25% -6.92% -2.63%

2010 14.64% 13.87% 14.31%

2009 39.20% 38.30% 29.68%

2008 -41.63% -42.10% -38.96%

2007 13.01% 12.24% 7.06%

2006 17.48% 16.69% 18.99%

2005 9.79% 9.05% 8.49%

2004 13.78% 13.01% 14.54%

2003 32.38% 31.52% 33.54%


Sector Weighting

Energy 6.3%


Industrials 9.6%

Technology 10.7%




Healthcare 13.3%

Real Estate 8.8%


Utilities 0.6%




Standard Dev. 15.81% 19.17% 18.28%


Alpha -4.21% -0.99% -0.60%

Beta 1 1 1.03

R Squared 98.78% 97.61% 97.24%














TheperformancetablereflectsactualPMCclientcompositeperformance.Performancedataforeachperiodistheannualizedtotalreturnasofthemostrecentquarterend.Current performance may be higher or lower than the performance data shown. The performance data for both the portfolio and benchmarks reflect the reinvestment of dividends and capital gains. Net performance is calculated by deducting 0.70%, which represents 0.40% platform and management fees and 0.30% custody fee. Net performance calculation doesnotincludeadvisoryfeeswhichtheadvisormayadd.Pastperformanceisnotindicativeoffutureresults.Pastperformanceisnotindicativeoffutureresults.Investmentreturnswillfluctuateandaresubjecttomarketvolatility,sothataninvestor’sshares,whenredeemedorsold,maybe worth more or less than their original cost. The performance data for both the portfolios and benchmark reflect the reinvestment of dividends, income and capital appreciation. Itisnotpossibletoinvestinanindex.Therecentgrowthrateinthestockmarkethashelpedtoproduceshort-termreturnsthatarenottypicalandmaynotcontinueinthefuture.Aninvestmentintheseportfoliosissubjecttomarketriskandaninvestormayexperiencelossofprincipal.Returnsarepresentedwithoutprovisionforfederalorstatetaxes.Undernocircumstancesdoestheinformationcontainedwithinrepresentarecommendationtobuyorsellsecurities.

hYPOThETICAL GROWTh ChART GROWTh OF hYPOThETICAL $100,000 (NET OF 0.70% FEE)Representedinthechartbelowistheperformanceofahypothetical$100,000investment,ifinvestedindividuallyinthesevenSIGMA™MutualFund Solution portfolios with a net annual fee of 0.70% (which represents 0.40% platform and management fees and 0.30% custody fee), for periods beginning December 31, 2002 and ending on December 31, 2013. The performance information is presented for informational purposes only. Also highlighted is theS&P500 Index,which is presented grossof fees, over the sameperiod.Seepages19and20 for additionalinformation on the illustration, the underlying performance information and related disclosures.

n Aggressive n Growth n Moderate Growth n Moderate n Conservative Growth

n Conservative nCapPreservation nFixedIncome n Barclays U.S. Aggregate nS&P500

Initial Investment

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

DEC 2013DEC 2012DEC 2011DEC 2010DEC 2009DEC 2008DEC 2007DEC 2006DEC 2005DEC 2004DEC 2003DEC 2002

$248,860

$235,350$232,620

$214,350

$194,370$190,430

$176,170

$154,334$161,717

$262,900



TheperformancetablereflectsactualPMCclientcompositeperformance.Performancedataforeachperiodistheannualizedtotalreturnasofthemostrecentquarterend.Current performance may be higher or lower than the performance data shown. The performance data for both the portfolio and benchmarks reflect the reinvestment of dividends and capital gains. Net performance is calculated by deducting 0.70%, which represents 0.40% platform and management fees and 0.30% custody fee. Net performance calculation doesnotincludeadvisoryfeeswhichtheadvisormayadd.Pastperformanceisnotindicativeoffutureresults.Pastperformanceisnotindicativeoffutureresults.Investmentreturnswillfluctuateandaresubjecttomarketvolatility,sothataninvestor’sshares,whenredeemedorsold,maybe worth more or less than their original cost. The performance data for both the portfolios and benchmark reflect the reinvestment of dividends, income and capital appreciation. Itisnotpossibletoinvestinanindex.Therecentgrowthrateinthestockmarkethashelpedtoproduceshort-termreturnsthatarenottypicalandmaynotcontinueinthefuture.Aninvestmentintheseportfoliosissubjecttomarketriskandaninvestormayexperiencelossofprincipal.Returnsarepresentedwithoutprovisionforfederalorstatetaxes.Undernocircumstancesdoestheinformationcontainedwithinrepresentarecommendationtobuyorsellsecurities.

hYPOThETICAL GROWTh ChART WITh MuNICIPALS GROWTh OF hYPOThETICAL $100,000 (NET OF 0.70% FEE)Representedinthechartbelowistheperformanceofahypothetical$100,000investment,ifinvestedindividuallyinthesixSIGMA™MutualFundSolution portfolios with municipals with a net annual fee of 0.70% (which represents 0.40% platform and management fees and 0.30% custody fee), for periods beginning December 31, 2002 and ending on December 31, 2013. The performance information is presented for informational purposesonly.AlsohighlightedistheS&P500Index,whichispresentedgrossoffees,overthesameperiod.Seepages19and20foradditionalinformation on the illustration, the underlying performance information and related disclosures.

nCapPreservationwithMunicipals n Conservative with Municipals n Conservative Growth with Municipals n Moderate with Municipals

n Moderate Growth with Municipals n Growth with Municipals nS&P500

Initial Investment

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

DEC 2013DEC 2012DEC 2011DEC 2010DEC 2009DEC 2008DEC 2007DEC 2006DEC 2005DEC 2004DEC 2003DEC 2002

$167,020

$199,800

$177,230

$225,630$229,670

$262,900

$152,190



PERFORMANCE DISCLOSuRESThe historical performance of the investment strategy is based on composite data from actual client accounts. Accounts that do not meet the compositerequirementshavebeenexcludedfromtheperformancecalculation;suchexclusionscanoccurforaccountsthatexperiencemidmonthchanges, have trade holds or restrictions in place, are below minimum asset thresholds, have high cash levels, or are otherwise not in good order.Theperformanceresultsofanyaccountmayvary,perhapssignificantly, fromthecompositeperformancepresented,dependingonthecircumstances related to that account.

The historical performance shown does not guarantee future results. There can be no assurance that the SIGMA™ MFS portfolios will achieve these returns in the future, and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Information was obtained from mutual fund managers and third party sources, which we believe to be reliable but not guaranteed. Gross returns aregrossofplatformandadvisory feesbutnetof theunderlyingmutual fundexpense.Grossperformance resultswill be reducedby feesincluding, but not limited to, investment management fees and other costs such as custodial, reporting, evaluation and advisory services. The net compounded impact of the deduction of such fees over time will be affected by the amount of the fees, the time period, and the investment performance.Forexample,anaccountwithannualfeesof1.5%,deductedquarterly,whoseannualizedperformancewas15.0%beforefees,wouldhavenetannualizedperformanceapproximatelyof13.3%.Foracompletedescriptionofallfees,costsandexpenses,pleaserefertotheEnvestnetFormADVPart2AorFormADVPart2A-Appendix1asapplicable.

Investments in smaller companies carry greater risk than is customarily associated with larger companies for various reasons such as volatility of earningsandprospects,higherfailurerates,andlimitedmarkets,productlinesorfinancialresources.Investingoverseasinvolvesspecialrisks,includingthevolatilityofcurrencyexchangeratesand,insomecases,limitedgeographicfocus,politicalandeconomicinstability,andrelativelyilliquid markets. Income (bond) funds are subject to interest rate risk which is the risk that debt securities in a fund’s portfolio will decline in value because of increases in market interest rates.

Aninvestmentintheseportfoliosissubjecttomarketriskandaninvestormayexperiencelossofprincipal.Therecentgrowthrateinthestockmarket has helped to produce short-term returns that are not typical and may not continue in the future. Returns are presented without provision forfederalorstatetaxes.Undernocircumstancesdoestheinformationcontainedwithinrepresentarecommendationtobuyorsellsecurities.Thisisnotasalessolicitation,butratheraresearchprofileonaspecificinvestmentoption.Itisintendedonlyforone-on-onepresentationswithafinancialadvisorpresent.

PASTPERFORMANCEISNOTINDICATIVEOFFUTURERESULTS.

BENChMARkS FOR SIGMA™ MuTuAL FuND SOLuTION PORTFOLIOS:1.SIGMA™MFSCapital Preservation Portfolio - The benchmark for the SIGMA™MFSCapital Preservation portfolio consists of a blend of

75%BarclaysCapitalU.S.Government/Credit Index,20%Russell3000,5%MSCIEAFE (Inception to5/31/2010);80%BarclaysCapitalIntermediateU.S.Government/CreditIndex,14%Russell3000,6%MSCIEAFE(6/1/2010todate).Benchmarkperformanceisnottheactualhistorical performance of the portfolio and actual performance will differ from the performance of the representative benchmark over time. Benchmark returns include the reinvestment of dividends and capital gains. Reported benchmarks are unmanaged indices that do not have anyfeesorexpensechargesandarenotavailablefordirectinvestment.

2.SIGMA™MFS Conservative Portfolio - The benchmark for the SIGMA™MFS Conservative portfolio consists of a blend of 55% BarclaysCapitalU.S.Government/CreditIndex,35%Russell3000,10%MSCIEAFE(Inceptionto5/31/2010);67%BarclaysCapitalIntermediateU.S.Government/CreditIndex,24%Russell3000,9%MSCIEAFE(6/1/2010todate).

3.SIGMA™MFSConservativeGrowthPortfolio - Thebenchmark for theSIGMA™MFSConservativeGrowth portfolio consists of a blendof45%Russell3000,40%BarclaysCapitalU.S.Government/Credit Index,15%MSCIEAFE(Inceptionto5/31/2010);54%BarclaysCapitalIntermediateU.S.Government/CreditIndex,33%Russell3000,13%MSCIEAFE(6/1/2010todate).

4.SIGMA™MFSModerate Portfolio - The benchmark for the SIGMA™MFSModerate portfolio consists of a blend of 50% Russell 3000,30%BarclaysCapitalU.S.Government/Credit Index,20%MSCIEAFE(Inceptionto5/31/2010);43%Russell3000,40%BarclaysCapitalIntermediateU.S.Government/CreditIndex,17%MSCIEAFE(6/1/2010todate).

5.SIGMA™MFSModerateGrowthPortfolio-ThebenchmarkfortheSIGMA™MFSModerateGrowthportfolioconsistsofablendof55%Russell3000,25%MSCIEAFE,20%BarclaysCapitalU.S.Government/Credit Index (Inception to5/31/2010);53%Russell3000,27%BarclaysCapitalIntermediateU.S.Government/CreditIndex,20%MSCIEAFE(6/1/2010todate).

6.SIGMA™MFSGrowthPortfolio-ThebenchmarkfortheSIGMA™MFSGrowthportfolioconsistsofablendof65%Russell3000,25%MSCIEAFE,10%BarclaysCapitalU.S.Government/CreditIndex(Inceptionto5/31/2010);62%Russell3000,24%MSCIEAFE,14%BarclaysCapitalIntermediateU.S.Government/CreditIndex(6/1/2010todate).

7.SIGMA™MFSAggressivePortfolio-ThebenchmarkfortheSIGMA™MFSAggressiveportfolioconsistsofablendof70%Russell3000,30%MSCIEAFE(Inceptionto5/31/2010);72%Russell3000,28%MSCIEAFE(6/1/2010todate).



BENChMARkS FOR SIGMA™ MuTuAL FuND SOLuTION PORTFOLIOS WITh MuNICIPALS:1.SIGMA™MFSCapitalPreservationPortfoliowithMunicipals-ThebenchmarkfortheSIGMA™MFSCapitalPreservationportfoliowithmunicipals

consists of a blend of 75%BarclaysMunicipal Bond Index, 20%Russell 3000, 5%MSCI EAFE (Inception to5/31/2010); 80%BarclaysMunicipalBondIndex,14%Russell3000,6%MSCIEAFE(6/1/2010todate).Benchmarkperformanceisnottheactualhistoricalperformanceof the portfolio and actual performance will differ from the performance of the representative benchmark over time. Benchmark returns include thereinvestmentofdividendsandcapitalgains.Reportedbenchmarksareunmanagedindicesthatdonothaveanyfeesorexpensechargesand are not available for direct investment.

2.SIGMA™MFSConservativePortfoliowithMunicipals-ThebenchmarkfortheSIGMA™MFSConservativeportfoliowithmunicipalsconsistsofablendof55%BarclaysMunicipalBondIndex,35%Russell3000,10%MSCIEAFE(Inceptionto5/31/2010);67%BarclaysMunicipalBondIndex,24%Russell3000,9%MSCIEAFE(6/1/2010todate).

3.SIGMA™MFS Conservative Growth Portfolio with Municipals - The benchmark for the SIGMA™MFS Conservative Growth portfolio withmunicipalsconsistsofablendof45%Russell3000,40%BarclaysMunicipalBondIndex,15%MSCIEAFE(Inceptionto5/31/2010);54%BarclaysMunicipalBondIndex,33%Russell3000,13%MSCIEAFE(6/1/2010todate).

4.SIGMA™MFSModeratePortfoliowithMunicipals -Thebenchmark for theSIGMA™MFSModerateportfoliowithmunicipalsconsistsofablendof50%Russell3000,30%BarclaysMunicipalBondIndex,20%MSCIEAFE(Inceptionto5/31/2010);43%Russell3000,40%BarclaysMunicipalBondIndex,17%MSCIEAFE(6/1/2010todate).

5.SIGMA™MFSModerateGrowthPortfoliowithMunicipals-ThebenchmarkfortheSIGMA™MFSModerateGrowthportfoliowithmunicipalsconsistsofablendof55%Russell3000,25%MSCIEAFE,20%BarclaysMunicipalBondIndex(Inceptionto5/31/2010);53%Russell3000,27%BarclaysMunicipalBondIndex,20%MSCIEAFE(6/1/2010todate).

6.SIGMA™MFSGrowthPortfoliowithMunicipals-ThebenchmarkfortheSIGMA™MFSGrowthportfoliowithmunicipalsconsistsofablendof65%Russell3000,25%MSCIEAFE,10%BarclaysMunicipalBondIndex(Inceptionto5/31/2010);62%Russell3000,24%MSCIEAFE,14%BarclaysMunicipalBondIndex(6/1/2010todate).

TheS&P500Indexisanunmanagedindexcomprisedof500widelyheldsecuritiesconsideredtoberepresentativeoftheU.S.stockmarketingeneral.

TheRussell3000Indexmeasurestheperformanceofthelargest3000U.S.companiesrepresentingapproximately98%oftheinvestableU.S.equity market.

TheMSCIEAFEIndexisdesignedtomeasuretheequitymarketperformanceofdevelopedmarketsoutsideoftheU.S.&Canada.

TheBarclaysUSGovernment/CreditBondIndexisamarketcapitalization-weightedindexofinvestment-grade,fixed-ratedebtissues,includingTreasuries, government-related and U.S. corporate securities, with maturities of at least one year.

TheBarclaysIntermediateUSGovernment/CreditBondIndexisamarketcapitalization-weightedindexofinvestment-grade,fixed-ratedebtissues,including Treasuries, government-related and U.S. corporate securities, with maturities of at least one year and less than 10 years.

TheBarclaysCapitalMunicipalBondIndexisanunmanagedindexcomprisedofinvestment-grade,fixed-ratemunicipalsecuritiesrepresentativeofthetax-exemptbondmarketingeneral.

PMC Is the InvestMent ConsultanCy of envestnetenvestnet, 35 east Wacker Drive, suite 2400, Chicago, Il 60601

© 2014 envestnet. all rights reserved. foR one-on-one use WIth a ClIent’s fInanCIal aDvIsoR only. QPU-SMFS-0114

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The SIGMA™ Mutual Fund Solution - Envestnet...The SIGMA™ Mutual Fund Solution has an established track record of providing advisors with professionally managed model mutual fund