The Only Returns that Matter are the Returns

The Only Returns that Matter are the Returns You Keep Strategic Methodology 102 1 -255901

Understanding Your Risk Tolerance = The level of risk you are willing to bear to pursue long-term wealth Personal Knowledge of You and Your World Risk Tolerance Questionnaire Your Risk Tolerance Your Financial Plan Your Risk Score 2

Understanding Your Challenges Investor Challenge Investment Consideration Time Horizon: As you get closer to retirement, you need greater certainty that your wealth will address your financial goals; your tolerance for risk changes over time. Truro provides a series of investment strategies across the risk spectrum that allow you to reduce your risk profile as you age. Liquidity: Having access to your money is important to meet unexpected financial obligations. Truro strategies can maintain strategies to ensure an appropriate amount of your investments are liquid or readily available. Portfolio Losses: Recovery from a significant decline in the value of your portfolio may be difficult to overcome in time for retirement. Truro strategies actively manage risk in an effort to minimize large losses and to help preserve your wealth. 3

Our Approach 1. Actively managing risk to potentially dampen price swings and provide stability during stressful markets. 2. Pursuing strong return opportunities across the globe. 3. Staying the course by providing an approach that can help you address your financial objectives. 4

Our Investment Process Establishing Portfolio Objectives (i. e. Return and Risk Goals) Determining Asset Allocation Framework (i. e, asset classes and allocation size) Coordinating input and make on-going portfolio allocation decisions to supportfolio objectives Daily Monitoring and Analysis of Portfolio Risk to Understand Risk Return Impact of Allocation Decisions Analyzing and Selecting Investment Managers Performing On-Going Risk Insight Into Portfolio 5 1 -255901

Our Investment Team John P. Napolitano, CFP®, CPA, PFS, MST, RLP® Chairman and CEO Phil Kosmala, CFA Chief Investment Strategist Rob Napolitano Associate Portfolio Manager Tom Fletcher Client Manager Truro was founded by a firm of financial planners and investment professionals who have spent their careers understanding the investment needs of individual investors. 6

Truro Asset Management GLOBAL DIVERSIFIED STRATEGIES 7 1 -255901

Portfolio Design In a world in which attractive investment returns are hard to find, we believe thoughtful portfolio design is more important than ever in helping clients address their financial goals. 8 1 -255901

Our Investment Expertise Truro was founded by a firm of financial planners and investment professionals who have spent their careers understanding the investment needs of individual investors. 9 1 -255901

Key Objectives Portfolio Design Analysis Supporting clients financial goals. 3 Key Objectives of Portfolio Design Avoid Overexposure Over exposure to anyone asset class may result in too much investment risk. Spreading your investment dollars into many different asset classes may result in greater stability and a better chance of achieving your financial goals Get Broad & Global Broad and Global exposure across asset classes may provide diversification benefits, lower portfolio risk and enhanced returns Actively Manage Risk In a volatile and complex investing environment active risk management may be necessary to maintain appropriate levels of portfolio risk given your risk tolerance and financial goals 1 -255901 10

Broad Diversification Portfolio Design Analysis At Truro Asset Management we have identified what we believe are the essential asset class exposures to consider as compliments to core asset class exposures. We define the core asset classes to include developed market equity and fixed income securities. We believe there are important advantages to investing beyond the core. *Truro Strategic Asset Classes Portfolio Exposures US Equities Developed International Equities Global Real Estate International Small Cap Emerging Market Debt Emerging Market Equity Commodities (via Mfund/ETF) High Yield Leveraged Loans Hedge Funds 1 -255901 11

Risk Management Strategies Portfolio Design Analysis In Today’s investment environment which is characterized by significant interest rate risk, constrained earnings per share growth, constrained P/E multiple expansion, and a high level of volatility in market volatility levels, we believe it is essential to be very active in managing portfolio risk. In the table on the right we have identified what we believe are the 5 essential risk management strategies to consider when navigating the current environment. Truro Suggested Risk Management Strategies Broad Allocation Global Allocation Active Risk Targeting at the Holding Level Active Risk Targeting at the Portfolio Level Tail Risk Management at the Portfolio Level There is no assurance that the stated objectives of any investment program will be achieved. No strategy can assure success or guarantee against loss. 1 -255901 12

Capital Allocation ≠ Risk Allocation Risk Budgeting in Action Core equity explains 99% of the portfolios expected volatility, but is only 70% of the Capital Allocation • 17% US Large Cap Growth Equity 17% 30% • 18% US LC Value Equity 18% 15% 10% Risk Allocation 10% • 10% US MCap Equity • 10% US Small Cap • 15% EAFE Equity ------------- • 30% US Agg FI • 24% US Large Cap Growth Equity 1% 17% 24% • 24% US LC Value Equity • 16% US MCap Equity 18% 16% 24% • 18% US Small Cap • 17% EAFE Equity -------------- • 1% US Agg FI 1 -255901 13

Risk Budgeting in Action Active Risk Budgeting is Required… Diversification Decreases Rising correlations diminish the power of diversification As Correlation Increases …Because Correlations Fall and Rise as Markets Change 1 -255901 14

Truro Manager Selection A 5 -Step Process Risk Factor Select Informed By • Purpose • Fit Screen Style Candidates 15 1 -255901

Truro Asset Management: Globally Diversified Strategies 5 Globally Diversified Risk Managed strategies that span the broad spectrum of client risk tolerance and return needs Sophisticated, active and robust risk management Truro Growth Investment Objective Aggressive Growth Modest Growth with Income Purchasing Power Preservation Investment Time Horizon 10+ Years 8+ Years 5+ 5+ Years 3+ Years 13% 11% 9% 9% 7% 6% - 8% 5% - 7% 4% - 6% 3% - 5% *Volatility Objective Target Return Inflation + Truro Balanced Truro Enhanced Income Truro Growth & Income Truro Conservative A focus on Real Return (after Inflation) with an absolute Return Bias Broad & Global Asset Allocation An active focus on drawdown control Active Volatility Management Tail Risk Management There is no assurance that the stated objectives of any investment program will be achieved. No strategy can assure success or guarantee against loss. 1 -255901 16

Truro Asset Management: Broad Diversification Strategic Asset Classes The percentages provided are our Strategic asset class weights…at any point in time our actual portfolio weights, which reflect our tactical views, may differ significantly US Equities Developed International Equities Truro Growth & Income Truro Balanced 15. 5% 13. 3% 10. 9% 8. 4% 12% 13% 11. 2% 9. 1% 7% 8% 14% 30% 46% 19% Developed Global Fixed Income Truro Conservative Truro Enhanced Income Global Real Estate 4. 7% 4% 3. 3% 2. 6% 6% At Truro Asset Management we have identified what we believe are the essential asset class exposures to consider when designing a portfolio. We believe each asset class can be additive to the over all portfolio. International Small Cap 6. 2% 5. 4% 4. 4% 3. 4% 2% *Emerging Market Debt 11. 2% 9. 7% 7. 8% 6. 1% 10% Emerging Market Equity 8% 6. 9% 5. 6% 4. 3% 6% Commodities 3. 4% 2. 9% 2. 4% 1. 8% 2% Truro Asset Management currently allocates across 12 broad asset classes. Global High Yield 6. 3% 5. 4% 4. 4% 3. 4% 20% Leveraged Loans 4. 2% 3. 6% 2. 9% 2. 2% 8% *Emerging Market Debt consists of two distinct asset classes – EM Local Currency and EM USD Hedge Funds 27. 4% 23. 6% 19. 2% 14. 8% 7% There is no assurance that the stated objectives of any investment program will be achieved. No strategy can assure success or guarantee against loss. 1 -255901 17

Disclosure: Investing in securities is subject to risk including possible loss of principal. There is no assurance that the stated objectives of any investment program will be achieved. No strategy can assure success or guarantee against loss. ADV information on U. S. Financial Advisors, LLC may be found at the following address: http: //www. adviserinfo. sec. gov The firm’s home office address is: 30 Braintree Hill Office Park, Suite 201 Braintree, MA 02184 Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through U. S. Financial Advisors, a registered investment advisor. U. S. Financial Advisors and U. S. Wealth Management are separate entities from LPL Financial. 18 1 -255901