1

2

WHERE WILL YOUR FINANCIAL JOURNEY

TAKE YOU?

HD Vest Advisory Consultants have access to industry-leading

technology, comprehensive investment tools and timely financial

market research and analysis.

2

NAVIGATING A COURSE

For many Americans, a comfortable life in retirement is the ultimate financial destination. Yet, there are many equally important stops and decision points along the path to retirement that impact both today’s lifestyle needs and tomorrow’s goals, including:

• Accumulating retirement assets

• Managing investment risk

• Minimizing taxes on investment income

• Funding a child’s education

• Establishing or selling a business

• Paying for healthcare needs in retirement

• Determining your legacy and fulfilling philanthropic goals

• Transferring assets to heirs and beneficiaries in a tax-efficient manner

How you structure your investment portfolio will have a significant impact on your ability to pursue each of your goals with confidence while balancing competing needs over the course of your financial journey.

Navigating today’s complex financial and economic landscape demands tremendous insight and dexterity to adapt to changing and often challenging conditions, but that can be difficult to accomplish without the resources in place to:

• Properly allocate and diversify your investment assets

• Monitor your progress and make necessary adjustments along the way

3

DETERMINE YOUR DESTINATION

Security Selection and Market Timing 6.4%

Asset Allocation 93.6%

THE ROLE OF ASSET ALLOCATION

Developing an investment strategy personalized to your needs and goals begins with asset allocation, the most fundamental and foundational component of wealth management. Asset allocation is the process of dividing your assets among the various asset classes, such as stocks, bonds and cash or money market investments.

Each asset class has associated risks as well as potential rewards that vary based on the anticipated level of exposure to market volatility over time. While there is no single investment product or asset class that eliminates all potential risks — even cash carries the potential risk of failing to outpace inflation over time — how you allocate your assets within your investment portfolio has a profound impact on potentially reducing investment risk and helping to pursue more consistent returns. That’s because asset allocation is considered the major determinant of portfolio risk and return over time.1

Source: Gary P. Brinson, L. Randolph Hood, and Gilbert Beebower, “Determinants of Portfolio Performance,” Financial Analysts Journal, January/February 1995. 1Asset allocation does not assure or guarantee portfolio performance and cannot eliminate the risk of investment losses.

While asset allocation enables your portfolio to participate in a variety of market asset classes with the objective of minimizing overall volatility, asset allocation alone cannot ensure a profit or protect against loss.

THE FOUNDATION OF WEALTH MANAGEMENT

4

IMPORTANCE OF PROFESSIONAL ADVICE AND GUIDANCE

The foundation of your partnership with HD Vest Advisory ServicesSM is your relationship with your Advisory Consultant and the advice, support and counsel he or she provides. HD Vest Advisory Consultants are independent practitioners who have achieved the designation of Investment Adviser Representative (IAR). As independent advisors, HD Vest Advisory Consultants are not affiliated with product providers, enabling them to provide objective advice and guidance.

Your Advisory Consultant will work with you in a collaborative manner, employing a process similar to the steps below to get to know and understand you, your goals and your values before making investment recommendations.

STEP 1: Determine Your Investment Objectives and Time Horizon(s)

STEP 2: Recommend an Investment Strategy

STEP 3: Implement Your Portfolio

STEP 4: Monitor, Adjust and Rebalance Your Account Over Time

STEP 5: Provide Quarterly Performance Reports and Conduct Regular Portfolio Reviews

THE HD VEST ADVISORY SERVICES ADVANTAGE

Your HD Vest Advisory Consultant is backed by an entire team of professional support staff at the home office. The HD Vest Advisory Services team is committed to pursuing the long-held HD Vest mission of providing innovative solutions, consultative support and the latest tools and technology to help your Advisory Consultant meet the full range of your wealth management needs, which may include:

• Selection of advisory programs, including discretionary asset management

• Customized model portfolios

• Extensive research and investment analysis resources

• Broad universe of investments with no proprietary products

• Dedicated HD Vest Advisory Specialist team to assist your Advisory Consultant

• Industry-leading technology and performance reporting capabilities

ACCOUNT PROTECTION

First Clearing, LLC, one of the nation’s leading brokerage clearing institutions, provides HD Vest with quality securities-execution and brokerage-clearance services. As a First Clearing client, you can feel assured knowing there are several ways your brokerage assets are protected. In the event of brokerage firm failure, you will receive Securities Investor Protection Corporation (SIPC) coverage for up to $500,000, limited to $250,000 for claims of cash. First Clearing also has a policy through Lexington Insurance Company, an AIG Company, that provides additional coverage above the SIPC limits for any missing securities and cash in client brokerage accounts to a clearing firm aggregate limit of $1 billion (including up to $1.9 million for cash per client).

There are risks involved with investing, including loss of principal. Past performance is no guarantee of future results. HD Vest Advisors are independent professionals; they are not employees of HD Vest or First Clearing.

DETERMINE YOUR DESTINATION

5

WORKING WITH AN HD VEST

ADVISORY CONSULTANT

6

As a Registered Investment Adviser (RIA) with the Securities and Exchange Commission (SEC), HD Vest Advisory Services has a fiduciary responsibility to its advisory clients, and as such, is obligated to act solely in the best interests of clients. HD Vest Advisory Services and its licensed Advisory Consultants offer a number of advisory programs and services.

Within its advisory programs, HD Vest Advisory Services and our Advisory Consultants provide ongoing investment advice and monitoring of client portfolios. Some of these programs may be offered on a discretionary basis, meaning that your financial advisor does not need to be directed by you to make trades, and he or she may place these trades, rebalance your portfolio and make investment decisions within these programs on your behalf.

For all of the services associated with an advisory program, clients pay a comprehensive annual2 fee, determined between you and your Advisory Consultant, which is typically a small percentage of the value of the assets within the account.

HD VEST ADVISORY PROGRAMS – Fee-Based Advice

HD Vest Advisory Consultants are licensed to provide fee-based advice to their clients and have a range of advisory platforms to meet the needs of their diverse client base. Your Advisory Consultant will discuss appropriate investment solutions within these platforms based on your goals, risk tolerance and investment timeline.

Why Fee-Based Asset Management?

An advisory account is an investment account where the Advisory Consultant’s compensation is based on a percentage of the client’s assets under management. Contrast this to a commission-based investment, where the advisor is compensated based on the number of trades made or the amount of products sold to the client.

The benefit of a fee-based asset management account is that the Advisory Consultant’s interests are considered to be more in line with those of the investor. Fee-based asset management ensures you and your HD Vest Advisory Consultant are focused on the same thing—the long-term goals of your investment portfolio. Through a fee-based approach to investment management, your Advisory Consultant is compensated based on the value of your portfolio, placing the incentive on the long-term performance of your investments. It also eliminates any commission-related conflicts of interest in the advice you receive, enabling your HD Vest Advisory Consultant to:

• Maintain objectivity throughout the planning and investment process

• Provide unbiased financial advice

2Annual fee is paid quarterly at the beginning of each quarter based upon the previous quarter’s account or household ending balance not inclusive of a margin balance if one is present.

FEE-BASED ASSET MANAGEMENT

7

A PARTNERSHIP OF SUCCESS: HD VEST AND

YOUR ADVISORY CONSULTANT

8

HD VEST FINANCIAL SERVICES®

Recognized by Financial Advisor as one of the top firms in the industry,1 we are committed to changing America by reinventing the way people invest. Since its inception in 1983, HD Vest Financial Services® has supported an independent network of tax and non-tax professionals who provide comprehensive financial planning solutions, including securities, insurance, money management services and banking solutions. Approximately 4,500 independent contractors manage over $35 billion in assets for some 1.8 million individuals, families and small businesses in all 50 states.2

1Independent Broker-Dealers 2013, Financial Advisor Magazine, April 20132As of January 1, 2014

HD VEST ADVISORY SERVICES

HD Vest Advisory Services was founded in 1987 to provide fee-based investment solutions. Our commitment centers on providing HD Vest Advisory Consultants with exemplary service, enabling them to provide more Americans than ever before with quality investment and financial planning solutions.

HD Vest Advisory Services offers research on asset allocation and investment product selection to Advisory Consultants and provides you with quarterly performance reports that keep you well informed about the performance of your investments and the progress of your portfolio in relation to your financial goals.

HOW HD VEST SERVES ADVISORS

Contact your HD Vest Advisory Consultant today to begin navigating a path for your financial future.

Additional fees may apply in certain circumstances. Please contact an Advisor for more specific details about additional expenses that may be incurred in this type of program and for a list of eligible and excluded assets. The account minimum for this program is $25,000, but accounts may be linked to meet this minimum as long as they have at least $5,000 and the average account size of the group is larger than $25,000. Past performance is no guarantee of future results. Investments are subject to market risks including the potential loss of principal invested. This material is not to be construed as providing investment services in any jurisdiction where such offers or solicitation would be illegal. ETFs, as the name implies, are funds that trade like stocks. A single ETF often attempts to mirror an entire index such as the S&P 500, Dow Jones Industrial Average, or Nasdaq Composite Index; an entire sector of the equities market such as large caps, small caps, growth stocks or value stocks; or whole industries such as technology, energy or biotechnology. ETFs are traded like stocks or bonds and offer liquidity throughout the day as opposed to the end-of-day pricing system for mutual funds. ETFs and mutual funds are sold by prospectus. Please consider the investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other information, can be obtained by calling your Advisor. Read it carefully before you invest. The value of the fund’s domestic and foreign investment will vary from day to day in response to many factors. Stock values fluctuate in response to the activities of individual companies, and general market and economic conditions. The prices of small and medium-sized company stocks are generally more volatile than large company stocks. Investing in foreign securities presents certain risks that may not be present in domestic securities including currency fluctuation, the potential for diplomatic and political instability, regulatory and liquidity risks, foreign taxation and differences in auditing and other financial standards. Fixed income securities are subject to availability and market fluctuation and may be worth less than the original cost upon redemption. Fixed income yields and total return change daily and are based on changes in interest rates, market conditions, other economic and political news, and on the quality and maturity of investments. In general, fixed income prices rise when interest rates fall, and vice versa.

Securities offered through HD Vest Investment ServicesSM, Member SIPC Advisory services offered through HD Vest Advisory ServicesSM 6333 N. State Highway 161, Fourth Floor, Irving, TX 75038, (972) 870-6000 1285350 05/14