Morgan Stanley. What s included in this quarter s Brief: Financial Wellness o Trusted Advisors/Important Contacts List o Account Log In List

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1 The Hammersley Brief Q Helping you with Financial Education, Organization, Advanced Planning Strategies, and staying informed on the Economy, Markets, and Investing What s included in this quarter s Brief: Financial Wellness o Trusted Advisors/Important Contacts List o Account Log In List Planning Strategies & Financial Education o COS & MVP Scorecard ( Concerns, Opportunities, Strengths ) o Values List Exercise o Bucket List Exercise o Asset Allocation & Market History o Introduction to Alternative Investments o Don t Let Market Volatility Distract You from Your Goals o Dynamic Allocation: Taking Advantage of Short-Term Market Opportunities The Economy, Markets, & Investing o Global Strategy Mid Year Update 2017 o GIC On the Markets June 2017 The Company Corner o Trusted Advisors Contact List & Account Log In List [for Organizations] o Plan Perspectives for Individuals o Plan Sponsor Insights o Washington Update FINANCIAL WELLNESS: Annual TRUSTED ADVISORS/IMPORTANT CONTACTS LIST update (share with spouse, family members, & trusted advisors) [For Individuals & Families] Trusted Advisors Contact List

2 Annual ACCOUNT LOG IN LIST update (review the accounts add/delete, update websites, usernames, and passwords) [For Individuals & Families] Account Log In List PLANNING STRATEGIES & FINANCIAL EDUCATION: COS & MVP Scorecard ( Concerns, Opportunities, Strengths ) o COS used to help determine TOP 3 and goals to work on o MVP Scorecard used to help determine your confidence level of your planning Suggested to fill out individually & then compare results (Goal is that Family Members/Spouses feel equally confident) COS & MVP Scorecard Values List use this exercise to help determine your core set of beliefs, values, and purpose Values List Bucket List what experiences do you want to accomplish or have already Bucket List Investment Asset Allocation & Markets Information Asset Allocation

3 An Introduction to Alternative Investments Alternative Investments Don t Let Market Volatility Distract You from Your Goals o Timing Can Be Hazardous to Your Financial Health o How Can You Overcome Emotion Market Volatility Dynamic Allocation: Taking Advantage of Short-Term Market Opportunities o Dynamic Allocation for a Shorter-Term Horizon o Advantages of an Evidence-Based Framework o Getting Insights on Specific Asset Classes o Single Factors and a Single Asset Class Returns o Combining Factors for Asset Class Conclusions o Leveraging Information Diversification o Supporting Portfolio Management Applications Dynamic Allocation

4 THE ECONOMY, MARKETS, & INVESTING: s Global Strategy Insight o Asset Allocation Outlook Glbl Strat Md Yr 2017

5 o Global Equities: Bull Keeps On Rolling New Target Prices o Global Credit & Fixed Income: Forecast Update

6 A few key credit insights US credit seems very late-cycle: Risk/reward is asymmetric, with tight spreads, high leverage and more aggressive Fed tightening. Move up in quality. In the US, we prefer US IG over HY, BBs over CCCs and long risk in CDX over cash: We expect US banks to outperform through the cycle and prefer loans versus HY, with the former more resilient as the Fed hikes faster. Europe remains our favored region, given that cycle concerns are less pronounced here: We look for carry in HY and bank AT1, but take profits in corporate hybrids and LT2. HY and loans versus bonds. We also like CDS curve flatteners, given their steepness versus cash. s Economic Forecasts Exhibit 59 (Page 46) s Govt. Bond Yield/Spread Forecasts Exhibit 60 (Page 47) P. 46 s FX Forecasts On the Markets June 2017 o Sizing Up Recession Risk o Technical Floor for Profit Margins o E-Commerce Pressures Store Margins o China s Market Liberalization o Short Takes o Shrinking the Fed s Balance Sheet o Q&A: Bullish Trends for Japan On the Markets

7 THE COMPANY CORNER: Annual TRUSTED ADVISORS/IMPORTANT CONTACTS LIST update (share with leadership team, key employees, trusted advisors) [For Organizations] Trusted Advisors Org Contact List Annual ACCOUNT LOG IN LIST update (review the accounts add/delete, update websites, usernames, and passwords) [For Organizations] Account Org Log In List Plan Perspectives for Individuals o 5 Mistakes To Avoid in Retirement You Apply for Social Security too Early You Fail to Take a Conservative Investment Approach You Spend the Way you Used to Spend You Miscalculated Your Minimum Distributions You Make the Wrong Distribution Choice from Your 401(k) o What s Changing in Your 401(k) or IRA for 2017? o Should You Invest Outside the U.S.? o How Much Risk Can You Really Tolerate? Plan Perspectives Plan Sponsor Insights o Handling QDROs for Your Retirement Plan o Determining 401(K) Plan Eligibility o Recent Developments IRS Plan Proposal for Forfeitures Retirement Health Expenses Fairly Confident for Retirement Plan Sposnor Insights

8 Washington Update o Legislative Items carried over from the 114 th Congress The Trump Administration & the 115 th Congress Tax Reform & Retirement Savings o Regulatory Department of Labor (DoL) - Fiduciary Treasury Department/IRS o Benefit Limits 2017 Washington Update ***For more information about these topics and my financial advisory practice please visit my Tax laws are complex and subject to change. Smith Barney LLC ( ), its affiliates and Financial Advisors and Private Wealth Advisors do not provide tax or legal advice and are not fiduciaries (under ERISA, the Internal Revenue Code or otherwise) with respect to the services or activities described herein except as otherwise provided in writing by, Individuals are ecouraged to consult their tax and legal advisors (a) before establishing a retirement plan or account, and (b) regarding any potential tax, ERISA and related consequences of any investments made under such plan or account.