1

Economic and Financial Indicators – January 2012

Indicators Are Forward Looking 3 to 6 MonthsSources: Rochdale Investment Management 1/1/2012FOR ILLUSTRATIVE PURPOSES ONLY

Political Environment

ECRI Leading Index

Personal Consumption/

Retail Sales

Credit Demand/

Availability

Fiscal Policy

Business Surveys TrendHousing/Mortgages

Inflation Corporate Profit Growth

Business Spending

Volatility LevelsEquity Market Valuation

Company Guidance

Global Economic Outlook

US Economic OutlookLabor MarketEnergy/Oil Costs

Interest Rates/

Fixed Income

Monetary Policy Disposable Personal

Income/Wages

Strengthening/Positive Weakening/Negative

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,”“forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

2

Economic and Financial Indicators – February 2012

Indicators Are Forward Looking 3 to 6 MonthsSources: Rochdale Investment Management 2/1/2012FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Monetary Policy

ECRI Leading Index

Political Environment

Personal Consumption/Retail Sales

Credit Demand/ Availability

Fiscal PolicyBusiness Surveys Trend

Housing/Mortgages

Corporate Profit GrowthBusiness Spending Volatility LevelsEquity Market Valuation

Company Guidance

Global Economic Outlook

US Economic OutlookLabor Market

Disposable Personal Income/Wages

Inflation

Energy/Oil Costs

Interest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,”“forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

2

Economic and Financial Indicators – March 2012

Sources: Rochdale Investment Management. March 2012FOR ILLUSTRATIVE PURPOSES ONLY Indicators Are Forward Looking 3 to 6 Months

Strengthening/Positive Weakening/Negative

Monetary Policy ECRI Leading Index

Political Environment

Personal Consumption/Retail Sales

Credit Demand/ Availability

Fiscal PolicyBusiness Surveys Trend Housing/Mortgages Corporate Profit Growth

Business Spending Volatility Levels

Equity Market Valuation Company Guidance

Global Economic OutlookUS Economic OutlookLabor Market

Disposable Personal Income/Wages

Inflation

Energy/Oil Costs

Interest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,” “forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

2

Economic and Financial Indicators – April 2012

Indicators Are Forward Looking 3 to 6 MonthsSources: Rochdale Investment Management. April 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Monetary Policy

ECRI Leading Index

Political Environment

Personal Consumption/Retail Sales

Credit Demand/ Availability

Fiscal Policy

Business Surveys Trend

Housing/Mortgages Corporate Profit Growth

Business Spending

Volatility Levels

Equity Market Valuation Company Guidance

Global Economic OutlookUS Economic Outlook Labor Market

Disposable Personal Income/Wages

Inflation

Energy/Oil Costs

Interest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,” “forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are validonly as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

Barbara L. Klenovich, CFP | 4456 S. Whispering Circle | Colorado Springs, CO 80917 | (719) 550-4150Securities, insurance, and advisory services offered through FSC Securities Corporation, member FINRA/SIPC | Tax preparationoffered through Barbara L. Klenovich are independent of FSC Securities Corporation.

2

Economic and Financial Indicators – May 2012

Indicators Are Forward Looking 3 to 6 MonthsSource: Rochdale Investment Management. May 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Monetary Policy

ECRI Leading Index

Political Environment

Personal Consumption/Retail Sales

Credit Demand/ Availability

Fiscal Policy

Business Surveys Trend

Housing/Mortgages Corporate Profit Growth

Business Spending

Volatility Levels

Equity Market Valuation Company Guidance

Global Economic OutlookUS Economic Outlook Labor Market

Disposable Personal Income/Wages

Inflation

Energy/Oil Costs

Interest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,” “forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are validonly as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

Barbara L. Klenovich, CFP | 4456 S. Whispering Circle | Colorado Springs, CO 80917 | (719) 550-4150Securities, insurance, and advisory services offered through FSC Securities Corporation, member FINRA/SIPC |Tax Preparation offered through Barbara L. Klenovich are independent of FSC Securities Corporation

Economic and Financial Indicators – June 2012

Indicators Are Forward Looking 3 to 6 MonthsSource: Rochdale Investment Management. June 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Monetary Policy

ECRI Leading Index

Political Environment

Personal Consumption/Retail Sales

Credit Demand/ Availability

Fiscal Policy

Business Surveys Trend

Housing/Mortgages Corporate Profit Growth

Business Spending

Volatility Levels

Equity Market Valuation Company Guidance

Global Economic OutlookUS Economic Outlook Labor Market

Disposable Personal Income/Wages

Inflation

Energy/Oil Costs

Interest Rates/Fixed Income

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,” “forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are validonly as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

2

Economic and Financial Indicators – July 2012

Indicators Are Forward Looking 3 to 6 MonthsSource: Rochdale Investment Management. July 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Monetary Policy ECRI Leading Index

Political Environment

Personal Consumption/Retail Sales

Credit Demand/ Availability

Fiscal Policy

Business Surveys Trend

Housing/Mortgages

Corporate Profit Growth

Business Spending

Volatility Levels

Equity Market Valuation Company Guidance

Global Economic OutlookUS Economic Outlook

Labor Market Disposable Personal Income/Wages

Inflation

Energy/Oil Costs

Interest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,” “forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are validonly as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

Barbara L. Klenovich, CFP | 4456 S. Whispering Circle | Colorado Springs, CO 80917 | (719) 550-4150Securities, insurance, and advisory services offered through FSC Securities Corporation, member FINRA/SIPC |Tax Preparation offered through Barbara L. Klenovich are independent of FSC Securities Corporation

1

Economic and Financial Indicators – August 2012

Indicators Are Forward Looking 3 to 6 MonthsSource: Rochdale Investment Management. August 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Monetary Policy

ECRI Leading Index

Political Environment

Personal Consumption/Retail Sales

Credit Demand/ Availability

Fiscal Policy

Confidence/Uncertainty

Housing/Mortgages

Corporate Profit GrowthBusiness Outlook Spending/Surveys

Volatility Levels

Equity Market Valuation Company Guidance

Global Economic OutlookUS Economic Outlook

Labor Market

Disposable Personal Income/Wages

Inflation

Energy/Oil Costs

Interest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,”“forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

2

Economic and Financial Indicators – September 2012

Indicators Are Forward Looking 3 to 6 MonthsSource: Rochdale Investment Management. September 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Political EnvironmentCorporate Profit GrowthBusiness Outlook Spending/Surveys

Equity Market Valuation Company Guidance

Monetary Policy Credit Demand/ Availability

Confidence/UncertaintyGlobal Economic OutlookUS Economic Outlook

ECRI Leading IndexHousing/Mortgages Volatility LevelsLabor MarketEnergy/Oil Costs

Personal Consumption/Retail Sales

Fiscal PolicyDisposable Personal Income/Wages

InflationInterest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,” “forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are validonly as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

Barbara L. Klenovich, CFP | 4456 S. Whispering Circle | Colorado Springs, CO 80917 | (719) 550-4150Securities, insurance, and advisory services offered through FSC Securities Corporation, member FINRA/SIPC |Tax Preparation offered through Barbara L. Klenovich are independent of FSC Securities Corporation

1

A City National Company

Economic and Financial Indicators – October 2012

Indicators Are Forward Looking 3 to 6 MonthsSource: Rochdale Investment Management. October 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Political EnvironmentCorporate Profit GrowthBusiness Outlook Spending/Surveys

Equity Market Valuation Company Guidance

Monetary Policy Credit Demand/ Availability

Confidence/UncertaintyGlobal Economic OutlookUS Economic Outlook

ECRI Leading IndexHousing/Mortgages Volatility LevelsLabor MarketEnergy/Oil Costs

Personal Consumption/Retail Sales

Fiscal PolicyDisposable Personal Income/Wages

InflationInterest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,” “forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are validonly as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

Barbara L. Klenovich, CFP | 4456 S. Whispering Circle | Colorado Springs, CO 80917 | (719) 550-4150Securities, insurance, and advisory services offered through FSC Securities Corporation, member FINRA/SIPC |Tax Preparation offered through Barbara L. Klenovich are independent of FSC Securities Corporation

A City National Company

1

Economic and Financial Indicators – November 2012

Indicators Are Forward Looking 3 to 6 MonthsSource: Rochdale Investment Management, November 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Political EnvironmentCorporate Profit GrowthBusiness Outlook

Spending/Surveys

Equity Market Valuation Company Guidance

Monetary Policy Credit Demand/

AvailabilityConfidence/UncertaintyGlobal Economic OutlookUS Economic Outlook

ECRI Leading IndexHousing/Mortgages Volatility LevelsLabor MarketEnergy/Oil Costs

Personal Consumption/

Retail SalesFiscal PolicyDisposable Personal

Income/WagesInflationInterest Rates/

Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,”“forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

�������������� ���

5

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������������������������������������� �Source: Rochdale Investment Management, December 2012.FOR ILLUSTRATIVE PURPOSES ONLY

Strengthening/Positive Weakening/Negative

Political EnvironmentCorporate Profit GrowthBusiness Outlook Spending/Surveys

Equity Market Valuation Company Guidance

Monetary Policy Credit Demand/ Availability

Confidence/UncertaintyGlobal Economic OutlookU.S. Economic Outlook

Leading IndexesHousing/Mortgages Volatility LevelsLabor MarketEnergy/Oil Costs

Personal Consumption/Retail Sales

Fiscal PolicyDisposable Personal Income/Wages

InflationInterest Rates/Fixed Income

3

These financial and economic indicators represent Rochdale Investment Management’s opinion based on its analytical research. The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect Rochdale Investment Management’s overall outlook of the economy.

Important Note: Certain information may be based on information received from sources Rochdale Investment Management considers reliable. Rochdale Investment Management does not represent that such information is accurate or complete. Certain statements contained herein may constitute “projections,”“forecasts” and other “forward-looking statements” which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial information. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change at anytime.

These views expressed in this presentation represent the opinions of Rochdale Investment Management and are subject to change without notice at any time. This information should not in any way be construed to be investment, financial, tax, or legal advice or other professional advice or service, and should not be relied on in making any investment or other decisions.

Important Disclosures

Barbara L. Klenovich, CFP | 4456 S. Whispering Circle | Colorado Springs, CO 80917 | (719) 550-4150Securities, insurance, and advisory services offered through FSC Securities Corporation, member FINRA/SIPC |Tax Preparation offered through Barbara L. Klenovich are independent of FSC Securities Corporation