Disclaimers



NO OFFER OR ADVICE

PLEASE NOTE THAT NOTHING IN THIS WEBSITE SHOULD BE CONSTRUED AS AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO PURCHASE AN INTEREST IN ANY SECURITY OR SEPARATE ACCOUNT MANAGED OR ADVISED BY GOOD HARBOR. NOTHING IN THIS WEBSITE IS INTENDED TO BE, AND YOU SHOULD NOT CONSIDER ANYTHING IN THIS WEBSITE TO BE, INVESTMENT, ACCOUNTING, TAX OR LEGAL ADVICE. IF YOU WOULD LIKE INVESTMENT, ACCOUNTING, TAX OR LEGAL ADVICE, YOU SHOULD CONSULT WITH YOUR OWN FINANCIAL ADVISORS, ACCOUNTANTS, OR ATTORNEYS REGARDING YOUR INDIVIDUAL CIRCUMSTANCES AND NEEDS.

THIS WEBSITE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO BE RELIED UPON AS A FORECAST, RESEARCH OR INVESTMENT ADVICE. ALTHOUGH THIS MATERIAL IS BASED UPON INFORMATION THAT GOOD HARBOR CONSIDERS RELIABLE AND ENDEAVORS TO KEEP CURRENT, GOOD HARBOR DOES NOT ASSURE THAT THIS MATERIAL IS ACCURATE, CURRENT OR COMPLETE, AND IT SHOULD NOT BE RELIED UPON AS SUCH. ANY OPINIONS EXPRESSED ON THIS WEBSITE MAY CHANGE AS SUBSEQUENT CONDITIONS VARY. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

VIDEO DISCLAIMER

TACTICAL CORE US
Past performance is no guarantee of future results. The opinions expressed in the video are those of the manager and are current through the date of the broadcast. The manager's views are subject to change at any time based on market and other current conditions, and no forecast can be guaranteed. This material does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. Information contained in the video commentary has been obtained from sources that we believe to be reliable, but its accuracy and completeness are not guaranteed. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.

The Good Harbor Tactical Core strategies invest primarily in exchange traded funds (ETFs) or mutual funds. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account.

Performance results are presented in US dollars and are net-of-max-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 2%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio.

The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the Good Harbor Tactical Core investment strategies. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark.

Portfolios in the composite utilize levered index products. Leveraged ETFs are considered risky. The use of leverage strategies by a fund increases the risk to the fund and magnifies gains or losses on the investment. You could incur significant losses even if the long-term performance of the underlying index showed a gain. Most leveraged ETFs "reset" daily. Due to the effect of compounding, their performance over longer periods of time can differ significantly from the performance of their underlying index or benchmark during the same period of time.

TACTICAL EQUITY INCOME
Past performance is no guarantee of future results. The opinions expressed in the video are those of the manager and are current through the date of the broadcast. The manager's views are subject to change at any time based on market and other current conditions, and no forecast can be guaranteed. This material does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. Information contained in the video commentary has been obtained from sources that we believe to be reliable, but its accuracy and completeness are not guaranteed. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.

The Tactical Equity Income strategy invests primarily in equity securities. Equity securities may include common and preferred stock, American Depository Receipts (ADRs), Master Limited Partnerships (MLPs), real estate investment trusts (REITs), US royalty and Canadian royalty trusts and exploration production companies, exchange traded funds (ETFs) or exchange traded notes (ETNs). The allocation to equities may be supplemented by an allocation to options. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. Good Harbor Financial, LLC's reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests.

There are numerous risks associated with transactions in options on securities. A decision as to whether, when and how to execute the options strategy, involves the exercise of skill and judgment, a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events.

Performance results are presented in US dollars and are net-of-max-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 2%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio.

The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the Tactical Equity Income strategy. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark.

TACTICAL CORE US

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is April 30, 2003. Performance results are presented in US dollars and are net-of-max-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 2%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. Prior to May 2010, the composite contained only non-wrap fee accounts and results reflect gross performance of the TACTICAL CORE US composite reduced by the maximum fee. Thereafter the composite results consist 100% of wrap-fee accounts. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. Portfolios in the composite utilize levered index products. Leveraged ETFs are considered risky. The use of leverage strategies by a fund increases the risk to the fund and magnifies gains or losses on the investment. You could incur significant losses even if the long-term performance of the underlying index showed a gain. Most leveraged ETFs "reset" daily. Due to the effect of compounding, their performance over longer periods of time can differ significantly from the performance of their underlying index or benchmark during the same period of time. The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE US strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL CORE US – INSTITUTIONAL

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is April 30, 2003. Performance results are presented in US dollars and are net-of-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 1.5%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. Portfolios in the composite utilize levered index products. Leveraged ETFs are considered risky. The use of leverage strategies by a fund increases the risk to the fund and magnifies gains or losses on the investment. You could incur significant losses even if the long-term performance of the underlying index showed a gain. Most leveraged ETFs "reset" daily. Due to the effect of compounding, their performance over longer periods of time can differ significantly from the performance of their underlying index or benchmark during the same period of time. The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE US strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firmm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL CORE US – MODERATE

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is August 31, 2009. Performance results are presented in US dollars and are net-of-max-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 2%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE US strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL CORE US MODERATE - INSTITUTIONAL

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is August 31, 2009. Performance results are presented in US dollars and are net-of-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 1.5%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE US MODERATE strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL CORE INTERNATIONAL

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is October 31, 2012. Performance results are presented in US dollars and are net-of-max-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 2%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. Portfolios in the composite utilize levered index products. Leveraged ETFs are considered risky. The use of leverage strategies by a fund increases the risk to the fund and magnifies gains or losses on the investment. You could incur significant losses even if the long-term performance of the underlying index showed a gain. Most leveraged ETFs "reset" daily. Due to the effect of compounding, their performance over longer periods of time can differ significantly from the performance of their underlying index or benchmark during the same period of time. The MSCI ACWI ex-US Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. Net total return indices reinvest dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE INTERNATIONAL strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed..

TACTICAL CORE INTERNATIONAL – INSTITUTIONAL

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is October 31, 2012. Performance results are presented in US dollars and are net-of-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 1.5%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. Portfolios in the composite utilize levered index products. Leveraged ETFs are considered risky. The use of leverage strategies by a fund increases the risk to the fund and magnifies gains or losses on the investment. You could incur significant losses even if the long-term performance of the underlying index showed a gain. Most leveraged ETFs "reset" daily. Due to the effect of compounding, their performance over longer periods of time can differ significantly from the performance of their underlying index or benchmark during the same period of time. The MSCI ACWI ex-US Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. Net total return indices reinvest dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE INTERNATIONAL strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL CORE INTERNATIONAL MODERATE

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is November 30, 2011. Performance results are presented in US dollars and are net-of-max-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 2%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. The MSCI ACWI ex-US Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. Net total return indices reinvest dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE INTERNATIONAL MODERATE strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL CORE INTERNATIONAL MODERATE – INSTITUTIONAL

The strategy invests primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is November 30, 2011. Performance results are presented in US dollars and are net-of-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 1.5%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. The MSCI ACWI ex-US Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. Net total return indices reinvest dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL CORE INTERNATIONAL MODERATE strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL EQUITY INCOME

The strategy invests primarily in equity securities. Equity securities may include common and preferred stock, American Depository Receipts (ADRs), Master Limited Partnerships (MLPs), real estate investment trusts (REITs), US royalty and Canadian royalty trusts and exploration production companies, exchange traded funds (ETFs) or exchange traded notes (ETNs). The allocation to equities may be supplemented by an allocation to options. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There are numerous risks associated with transactions in options on securities. A decision as to whether, when and how to execute the options strategy, involves the exercise of skill and judgment, a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events. Inception date of the composite presented is December 31, 2000. Performance results are presented in US dollars and are net-of-max-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 2%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. Prior to August 2012, the composite contained only non-wrap fee accounts and results reflect gross performance of the TACTICAL EQUITY INCOME (INST) composite reduced by the maximum fee. Thereafter the composite results consist 100% of wrap-fee accounts. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL EQUITY INCOME strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TACTICAL EQUITY INCOME – INSTITUTIONAL

The strategy invests primarily in equity securities. Equity securities may include common and preferred stock, American Depository Receipts (ADRs), Master Limited Partnerships (MLPs), real estate investment trusts (REITs), US royalty and Canadian royalty trusts and exploration production companies, exchange traded funds (ETFs) or exchange traded notes (ETNs). The allocation to equities may be supplemented by an allocation to options. The strategy is subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There are numerous risks associated with transactions in options on securities. A decision as to whether, when and how to execute the options strategy, involves the exercise of skill and judgment, a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account. Inception date of the composite presented is December 31, 2000. Performance results are presented in US dollars and are net-of-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 1.5%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. The S&P 500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the TACTICAL EQUITY INCOME strategy. Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.

TOTAL PORTFOLIO SOLUTIONS

The strategies invest primarily in exchange traded funds (ETFs) or mutual funds which are offered by prospectus only. Investors should consider the underlying funds' investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other important information, should be read carefully before investing. The strategies are subject to management risk and an investor's return and principal value of investment may fluctuate, so that an investment, when liquidated, may be worth more or less than their original investment. ETFs trade like stocks and may trade for less than their net asset value. The strategies may also invest in fixed income securities. Fixed-income securities may be subject to the risk that the issuer of the securities may be unable to make principal and interest payments when they are due. The strategies may invest in private funds or alternative investments which may be subject to additional risks associated with the lack of liquidity, short selling, marketability and pricing. These investments may employ leverage and have exposure to other unknown operational and counterparty risks. Some of these investments may use derivative instruments such as options, swaps, futures, structured securities or other instruments. Some of these investments may hold securities or instruments for which market quotations are not readily available. The valuation of such securities may be determined by the adviser to such fund. Many of these funds are not registered under the Investment Company Act of 1940. There may be other structural and taxation issues which you should consider and review as covered in the subscription documents. The funds also may be subject to both management and performance fees which are in addition to the Adviser's fees. Good Harbor Financial, LLC's ("Good Harbor" or the "Adviser") reliance on the strategy and its judgments about the value and potential appreciation of the securities in which the strategy invests may prove to be incorrect. Overall market risk, including volatility, may affect the value of the individual instruments in which the strategy invests. There will be brokerage commissions associated with buying and selling ETFs unless trading occurs in a fee-based account.

Inception dates of each strategy are as follows: TPS 1: January 31, 2011; TPS 2: May 31, 2011; TPS 3: June 30, 2011; TPS 4: June 30, 2011; TPS 5: December 31, 2011. Performance results are presented in US dollars and are net-of-fees and trading expenses and reflect the reinvestment of dividends and capital gains. The applicable fee schedule is 1.5%. Actual fees may vary based on, among other factors, account size and custodial relationship. To the extent you are a non-fee paying investor, or your fees differ from the applicable schedule, your returns may differ from those presented. No current or prospective client should assume future performance of any specific investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals may cause the performance results of your portfolio to differ materially from the reported composite performance. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client's investment portfolio. Historical performance results for market indices generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark.

Portfolios in the composite utilize levered index products. Leveraged ETFs are considered risky. The use of leverage strategies by a fund increases the risk to the fund and magnifies gains or losses on the investment. You could incur significant losses even if the long-term performance of the underlying index showed a gain. Most leveraged ETFs "reset" daily. Due to the effect of compounding, their performance over longer periods of time can differ significantly from the performance of their underlying index or benchmark during the same period of time.

The Barclay's US Aggregate Bond Index provides a measure of the performance of the US investment grade bonds market, which includes investment grade US Government bonds, investment grade corporate bonds, mortgage pass through-securities and asset-backed securities that are publicly offered for sale in the United States. The securities in the index must have at least 1 year remaining to maturity. In addition, the securities must be denominated in US dollars and must be fixed rate, nonconvertible, and taxable. The S&P500 Total Return Index is the total return version of the S&P 500 Index which includes the effects of reinvested dividends. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The investment strategy and types of securities held by the comparison indices may be substantially different from the investment strategy and the types of securities held by the respective TPS strategies.

Good Harbor is registered as an investment adviser with the United States Securities and Exchange Commission (SEC). Registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the Adviser has attained a particular level of skill or ability. Good Harbor claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of the firmm's composites and/or a presentation that adheres to the GIPS® standards, please contact the firm at the address listed.