Letter From The Managing Partner

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Updates From the Year

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As We Look to the Future

Rose Capital Advisors

2 Year Anniversary

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Letter From The Managing Partner

Dear Clients, Friends, and Colleagues, We are pleased to announce the two-year anniversary of Rose Capital Advisors and would like to thank you all for your endless support and trust. Over this past year, we have experienced tremendous growth and we are proud to share with you some of our crowning achievements and milestones—few of which would have been possible without you. This past year, there have been many significant economic events happening not only in the United States, but around the world. Perhaps the most important economic event of this past year was the government shutdown over the Congressional budget standoff. The shutdown set off a chain reaction of concerns and market uncertainties. There was also the issue of approval to increase the debt ceiling. This was not the first time Congress put the Nation in a position that risked defaulting on government debts; although being a re-occurrence does not lessen the impact. Not only did Congress’ extended refusal to raise the debt ceiling place the United States market on guard, it had a negative effect on international relations as well. There has also been a lot of concern over bond buying tapering by The Fed, rising interest rates, a slowdown in China, Detroit’s bankruptcy, record setting fines against large US banks, two Malaysian Airline plane crashes, and geopolitical tension in Syria, Israel/Palestine, and sanctions against Iraq and Russia. Despite all of this, the S&P 500 currently sits at an all-time high. The single best advice I can give in any type of economic or market environment is to create a comprehensive financial plan, remain disciplined, periodically rebalance as markets fluctuate, and to not become distracted with whatever is the latest crisis du jour being reported by CNBC or other media. Over the long run this has been a proven strategy that has worked for the most sophisticated institutional investors, pension funds, endowments, and foundations alike.

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Staff Updates

• Added two extraordinary members to our management team:

Joseph P. Mara (1) - Chief Investment Officer (CIO); full bio here.

Gareth Evans (2) - Head of Business Development; full bio here.

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• Hired a Director of Operations, Mitch Romano (3), who is reuniting with Michael from their days at Dominick & Dominick, where they worked together for seven years. Mitch will be in charge of the day-to-day running of the office operations and assisting the Managing Partner.

• Our Director of Client Services, Krissy Basanta (4), will be leaving us after two years and moving to Canada. Mitch will be assuming the majority of Krissy’s responsibilities. We will miss her and wish her the best.

• Promoted Jean Paul Sanchez (5) to Chief of Staff. He is currently enrolled in a graduate program for a Master of Science Degree in Finance, with an anticipated graduation date of December 2014. He also recently passed his Series 7 (General Securities Representative), and his Series66 (Combined Uniform Advisor and State Law Examination). He will continue to be more involved with our daily investment and client facing activities.

• Also hired two young and bright new non-registered Associates: Caleb Koerbel (6) & Pablo Vignolo (7)

• Gene Sulzberger (8), a 20-year industry veteran from an established advisory team at EFG Capital Advisors, will be branding his own practice and doing business under the name Sulzberger Capital Advisors.*

• Increased our assets under management and new client additions.

• Restructured our relationship with Tandragee Global Advisors so that we will be the Registered Investment Advisor (RIA) entity, while Tandragee will be a subsidiary/division of Rose Capital Advisors.

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Castellan Real Estate Partners • Continued property acquisitions with Castellan Real Estate Partners, bringing their portfolio to 49

buildings compromising of 1,937 multi-family apartments and 135 hotel rooms, with a total marketvalue of over $350 Million.

• Castellan also successfully sold Wangjiao Plaza in Shanghai, 518 West 136th Street as well as 2372-2376 Amsterdam Avenue, and refinanced The Hotel Modern in New Orleans.

Fireman Capital Partners

• Participated in 2 new private equity acquisitions with Fireman Capital Partners (FCP):

o Skip-Hop, a New York City based premium lifestyle brand which designs innovative and highly functional products serving the infant and toddler industry and targeting savvy, discerning parents.

o Surfside Coffee Company, a 38-store Dunkin’ Donuts franchise network located in South Florida.

• Michael was appointed to the Limited Partner Advisory Committee of Fireman Capital Partners to help provide increased transparency and representation of Rose Capital Advisors’ investors in FCP II, a middle market consumer focused private equity fund.

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Strategic Partners • Commenced participation on the recently launched CAIS new issue platform making Rose Capital

Advisors the 1st RIA in the country to transact on all three of CAIS’ platforms, Hedge Funds, Structured Notes, and now Syndicate/New Issues.

• Adopted a new outsourced CIO model with UMA investment solutions, including liquid alternative strategies with the oversight from Dynasty Financial Partners Investment Committee along with our institutional research consultants, Callan and Wilshire.

• Renewed and restructured a uniquely customized structured note which was originally created by Rose Capital Advisors and underwritten by Goldman Sachs in order to realize clients long-term capital gains and re-strike a new buffer to provide additional downside protection, given the appreciation in the equity markets over the past few years.

• Put into effect new compliance and administration programs with the help of our Broker-Dealer Saxony Securities, and our compliance partner Market Counsel.

• New technology enhancements including e-signature capabilities, cloud based computing, and a business continuity plan for full disaster recovery utilizing SAS-70 type II military-grade data centers.

• Made vast improvements and upgrades to our website, www.rosecapitaladvisors.com, to include our key competitive advantages, our corporate brochure, detailed information regarding our investment philosophy and process, and more functionality via client login capabilities to Pershing (our custodian) MoneyGuide Pro (financial planning software), and Evestnet (consolidated reporting and

and data aggregation). We have also continued to grow our social media presence via LinkedIn and Twitter: @RoseCapitalAdv

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Various Conferences • Attended various practice management and leadership conferences, including:

o Pershing INSITE 2014 in Hollywood, FL with keynote speaker, Condoleeza Rice. o Dynasty Summit at Meadowood, Napa Valley with special guest Sandy Weil. o FCP Annual Meeting at Liberty National Golf Course, with NJ Senator Cory Booker. o TedXMiami: Ideas Worth Spreading.

• Promoted and supported various philanthropic initiatives. Most notably, this past year Michael was elected to join the esteemed Board of Directors of the Mourning Family Foundation, a local non-profit organization founded by Alonzo and Tracy Mourning to enhance the lives of children and families in South Florida-- hosting it's annual Zo's Winter Groove this December. Participated in various Ray of Hope Foundation events including their annual Holiday Giving Tree and the inaugural Ray Allen Golf Classic benefiting the Juvenile Diabetes Research Foundation (JDRF).

• Collaborated with Indiegogo to organize and assist with a high profile crowdfunding campaign for one of our notable celebrity clients, slated to launch this fall.

• Assisting with the organization and strategic development of the Serena Williams Ultimate Run South Beach which will be held on December 14, 2014 benefitting the Serena Williams Fund,powered by Driving Force Giving Circle (DFGC).

Philanthropic Initiatives

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As We Look to the Future With the strategic additions to our team and enhancements to our infrastructure, we are now

positioned for increased capacity and growth, without compromising the level of service our clients are accustomed to. As we continue to expand our practice, our focus will remain on our core values of long-term planning, unbiased independent advice, and a strong client-advisor relationship. We are also in the process of creating a distinguished Advisory Board, comprised of a diverse group of influential business savvy entrepreneurs and philanthropists. This board will provide thought leadership and assist with the overall strategic direction of the firm. Details will be announced soon. Furthermore, as we look to the future and broaden our scope of services to a wider demographic (ie: Millennials), we are exploring the new and exciting opportunities of providing a digital advisor solution, a system that will allow users the advantage of the convenience and accessibility of online tools, apps, and technology combined with the personal touch of a financial advisor. As baby boomers grow older we are preparing to help with the massive inter-generational transfers of wealth on the horizon. By facilitating family meetings and opening up the planning conversation to all of the involved parties, we hope to help families come together around their plan to increase the likelihood of success. To create a more user-friendly experience we will also be creating short educational videos to answer frequently asked questions regarding wealth management and financial planning.

Finally, thanks to everyone who has engaged in the collaborative financial planning process and for introducing us to your friends and family. Your confidence in us is a testament to our approach, our philosophy, our values, and our execution. With your never-ending support we will continue to grow our business and deliver the service that you need. As always, continue to spread the word about Rose Capital Advisors and make sure to follow us on LinkedIn and Twitter. Thank you once again for your trust and confidence.

Best Regards,

Michael Rose