Average Stock Allocation 50% Small, mid, and large cap stocks Benchmark: 50% Russell 3000 / 50% BCGC

The All-Cap Balanced Account has an average allocation of 50% equities, 40% fixed income, and 10% cash.  This allocation changes as our risk indicators direct us to add or reduce equity exposure to the account.  We actively manage the fixed income portion of the account with high quality iShares and Treasuries. 

The account holds a mix of small, mid, and large cap stocks.  We weight the stock exposure toward the most advantageous market capitilizations based on our research. 

Sector analysis in an important part of our portfolio management process.  Changes in sector weightings are made based on our analysis. 

We believe that having the maximum flexibility to follow our research is the key to adding value to our clients' accounts. 

As of June 30, 2010

	Small Cap 19% Mid Cap 47% Large Cap 34%	Fixed Income 52% Common Stocks 43% Short Term Liquidity 5%