GCM Consolidated Equity Performance

Glaze Capital Management, Inc. (GCM) is an independent investment advisory firm established in 1997 providing personalized investment management services including portfolio management. GCM manages portfolios consisting of equity and fixed income which may be customized to meet individual objectives. Additional information concerning the firm can be found at www.glazecapital.com. The GCM Equity Composite is comprised of only those accounts of Glaze Capital Management that have been managed more than one year with the objective of capital appreciation and contain equity investments consistent with the firm’s model portfolio which is 100% equity and predetermined allocations to domestic, international, real estate and natural resources. Performance is based on actual account results and includes reinvestments of dividends. Advisory fees have been deducted from net of fee returns. The performance information provided has not been audited by First Allied Securities, Inc. as to accuracy. The calculations may not comply with Global Investment Performance Standards (GIPS), formerly known as AIMR, and should be utilized only as a general guide to performance. The performance data quoted represents past performance. Past performance is no guarantee of future results. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Investment return and principal value of an investment account will fluctuate and account value may be worth more or less than the original cost. Dispersion is how the entire GCM universe of assets differs from the composite and may be due to customization. The current performance may be higher or lower than the performance quoted. The S&P 500 is an unmanaged index of 500 of the largest publicly traded U.S. companies and is widely used as a benchmark for the U.S. equity portfolios but may differ in allocation and/or composition from that of the Composite. Investors cannot invest directly in an index and volatility of an index may be materially different from that of the Composite and indexes do not have management fees. Glaze Capital Management is not affiliated with First Allied Securities. Securities offered through First Allied Securities, Inc. Member FINRA/SIPC