Your Investment Profile

1. The investment objective addressed by this questionnaire represents:

my overall investment objectives one component of a larger investment plan Please elaborate on the objectives and components of this larger plan:

2. These assets in my managed portfolio will eventually be used to:

fund retirement finance education of children or grandchildren fund a major purchase such as a home, business or collectibles other

3. I envision the following investment time horizon for these assets: (The time horizon used in evaluating investment return has significant impact on the probability of realizing the stated return objectives. The longer the time period, the better the chance that up and down periods within market cycles will average out and your desired return can be achieved. If your time horizon is less than three years, this may not be the ideal program for you.)

3 to 5 years 5 to 7 years 7 years or more

4. My investment objective for this portfolio over a market cycle would be:

Preservation of capital and returns exceeding those of risk-free investments. (A low risk level means the portfolio is subject to minimal price fluctuations.) A combination of modest growth of capital and income via high-quality investments. (Diversification and risk control through a balanced portfolio of stocks, bonds and or cash equivalents.) Growth of capital. (Exposure to increased levels of price volatility with expectations to outperform an equity index.) Aggressive growth of capital. (Exposure to yet higher levels of volatility with a greater expectation for outperforming a growth equity index. Income is incidental and not a major investment consideration.)

5. My current income requirement from these assets (the portion of total return which should come from dividends/interest) is:

None. I have no need for current income. Low. These assets should be managed on a total return basis with minor emphasis on dividend/interest return. Moderate. These assets should be managed on a total return basis with some emphasis on dividend/interest return.

6. I would best describe my tolerance for capital fluctuation as:

Low. I am able to accept only infrequent and very modest losses during difficult phases in a market cycle. Moderate. I am able to accept only two or three quarters of negative returns during difficult phases in a market cycle. High. I am able to accept negative annual returns during difficult phases in a market cycle.

7. I feel an acceptable annual rate of return over a market cycle to be:

6 % 8 % 10 % other    %

I would describe my Risk/Return profile as follows: (Please indicate the best match to your investment objective by placing an “√” in the appropriate box. See figure below) Most Aggressive Aggressive S & P 500 Moderate Conservative Most conservative

8. My preferred investments are:

Certificates of Deposit Bonds Mutual Funds Stocks Options

9. Which risk concerns you most:

Not earning enough on my investments to reach my goal Losing money on a single investment Seeing my portfolio value drop in a given year

10. Which statement best describes you:

I want to be certain I do not lose money I do not like losing money, but I want to beat inflation I am willing to take a little risk to get a good return I have aggressive investment goals and I am willing to take some risk I want to maximize my return, I am not to concerned about the risk

11. Which one of the following statements best describes your reaction if the value of your portfolio suddenly declined 15%?

I invest for long-term growth and accept portfolio value changes due to market fluctuations I would be very concerned because I can not accept fluctuations in the value of this portfolio If the amount of current income was sustainable, it would not bother me I invest for long-term growth but would be concerned with even a temporary decline

12. I believe that the best opportunities are stocks in companies that:

Exhibit high growth potential Overlooked by the market and are trading below their intrinsic value Had setbacks and are turning around their fortunes Provide high current income

13. I would like to get as much long-term growth from my investment funds as possible, even if it means dramatic ups and downs on a year-to-year or month-to-month basis in my investment results

Strongly Disagree Disagree Neutral Agree Strongly Agree

14. I believe I will have enough money to reach my goal; therefore, I must protect what I have

Strongly Disagree Disagree Neutral Agree Strongly Agree

15. I believe I will not have enough money to reach my goal; therefore, I must take risk to get ahead

Strongly Disagree Disagree Neutral Agree Strongly Agree

16. Earning the highest possible return is the first priority, even if it requires taking some risks to do so

Strongly Disagree Disagree Neutral Agree Strongly Agree

17. I prefer an investment strategy designed to grow steadily and avoid sharp ups and downs, even if it lowers the long-term returns

Strongly Disagree Disagree Neutral Agree Strongly Agree

18. I prefer the size (assets under management) of my investment management organization to be:

Large (over $2 billion) Medium ($500 million - $2 billion) Small (less than $500 million) No preference

19. My experience level in the stock market is:

None 1 – 3 years 3 – 5 years 5 years or greater

20. The current value of your assets for your household:

Taxable  $  IRA  $  401(k)  $  Other  $

21. Value of assets to be placed under professional management: $

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