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									                                                                      IMPORTANT DISCLOSURES
                                                                       Kades-Margolis Capital, LLC
                                                              Money-by-Design 403(b)(7)/ Roth 403(b)(7) & 457(b)

                                                                                         How Can I Receive A Copy Of The Prospectus?

The Kades-Margolis Capital Money-by-Design 403(b)(7)/Roth
403(b)(7)/457(b) Program provides you the opportunity to participate                     You may view and print a copy of the prospectus on each mutual
in a salary deferral program to supplement your pension and Social                       fund offered in the Program from the Money-by-Design internet site
Security retirement benefits. To participate in this program, you must                   at, or you may have a prospectus on each
complete a salary reduction election and Participant Enrollment Form                     fund mailed to your address of record by selecting the option on the
that will be provided by your Kades-Margolis financial advisor. By                       Participant Enrollment Form. If no election is made, the default will
signing this form you are bound to the Kades-Margolis Capital                            be the internet option. Your election may be changed at any time
403(b)(7)/Roth 403(b)(7)/457(b) Custodial Agreement, as it may be                        by directing written instructions to the Sponsor, Kades-Margolis
amended from time to time (“Custodial Agreement”). In addition to                        Capital, LLC.
regular salary deferrals, you will have the opportunity to transfer or
rollover funds from other qualifying programs. This Program offers
the features and benefits that may not be available through other                         How Will My Money Be Invested?
403(b)(7)/Roth 403(b)(7)/457(b) programs.

 How Do I Receive A Copy Of The Custodial Agreement?                                     When you complete your Money-by-Design Participant Enrollment
                                                                                         Form, you will select from a list of mutual funds offered in the
                                                                                         Program. As funds are deposited to your account the monies will be
                                                                                         allocated in the funds as you directed on the enrollment form. You
You may view and print a copy of the Custodial Agreement                                 may modify these instructions by accessing your account through the
incorporating the latest amendments from the Money-by-Design                             Program’s internet site at, or by calling the
Internet site at, or you may have a copy of                        toll-free client service number. The new investment instructions will
the Agreement mailed to your address of record by selecting the                          determine the allocation of future additions or existing allocations to
option on the Participant Enrollment Form. If no election is made, the                   your account. The Program currently limits ongoing contributions to
default will be the internet version.                                                    20 allocations.

                                                                                         If for any reason money can not be allocated to a fund(s) that you
How Do I Become A Participant?                                                           selected, your money will be temporarily allocated to a Sponsor
                                                                                         selected Money Market or Cash Reserve Fund. The Fund selected may
                                                                                         be changed from time to time, please see Important Disclosure
A Kades-Margolis financial advisor will assist you in completing the                     document on our website for details. A prospectus of the Fund is
forms necessary to join the Program. To become a participant, a                          available at the web site or by contacting
Money-by-Design Participant Enrollment Form should be completed                          your Kades-Margolis financial advisor.
and returned to your Kades-Margolis financial advisor. This will
establish an account in your name that will receive salary reduction                     Your fund(s) will be transferred out of the selected Money Market or
contributions and any lump sums/transfers or exchanges that you                          Cash Reserves Fund to the fund(s) of your choosing as soon as
may direct. You also must complete a salary reduction agreement                          possible upon the Sponsor receiving proper investment instructions.
which directs your employer to withhold your contributions pre-tax
from each paycheck and send your deferrals to be credited to your
account.                                                                                  Can I Change My Investments?

How Much May I Contribute To My 403(b)(7)/Roth                                           You may reallocate your monies into new investments by selecting
403(b)(7)/457(b)?                                                                        new funds from the list of funds offered on the internet site. Any
                                                                                         trade entered to your account by 2:00 pm EST on normal business
You may direct your employer to contribute up to the maximum                             days will be placed with the mutual fund on that day. On the
amount that may be deferred under the law.                                               following day, you will be able view changes to your account.

Employees may contribute amounts allowed by law to both the                              Please note that your reallocation privileges may be limited by
403(b)(7)/Roth 403(b)(7) and 457(b) programs.                                            policies implemented by the Sponsor, Kades-Margolis Capital, LLC in
                                                                                         accordance with the mutual fund trading restrictions pertaining to
You may also be eligible for Special 403(b) catch-up contributions if                    market timing.
you meet certain requirements. As long as the plan permits, you can
elect to have a portion of your contributions designated as pre-tax
(403(b)(7)) and a portion post-tax (Roth 403(b)(7)). The sum of these
contributions cannot exceed the overall TSA limits. Your                                 Can I Directly Transfer-in-kind Mutual Fund Shares Between
Kades-Margolis financial advisor can assist you in making this                           Different Money-by-Design Program Accounts?
                                                                                         No. Mutual Fund shares in one program account may not be directly
                                                                                         transferred-in-kind to a different program account. To affect a
Can I Transfer/Exchange/Rollover Funds Into My Account?                                  transfer, you must contact your Kades-Margolis financial advisor to
                                                                                         seek a redemption of shares in the first program account and a
                                                                                         purchase of the same or similar shares for the second program
Your Money-by-Design account will accept transfers, exchanges and                        account. Please note that there may be differences in fund share
rollovers from other retirement accounts. You may request a transfer                     classes offered through different programs. In this regard, different
into your account by completing the Incoming Exchange/Rollover                           share classes normally have different expense characteristics.
Request Form and returning it to your Kades-Margolis financial                           Additionally, please be aware that there may be a two or more
advisor. The form will be submitted and funds requested from the                         business day delay between a redemption and purchase of shares.
custodian or trustee. You will be able to direct the investment of                       Please contact your Kades-Margolis financial advisor regarding any
your transfer or rollover separately or in the same manner as your                       questions relating to this process.
reduction contributions.

            “Money-by-Design” is a trademark of Kades-Margolis Corporation that has been licensed to Kades-Margolis Capital, LLC for the latter’s use in the
                                    Kades-Margolis Capital, LLC 403(b)(7)/Roth 403(b)(7) & 457(b) Program (Revision Date 1/11)
How Are Distributions Made From My Account?                                               How Are Transaction Fees Calculated?

You can receive a distribution from your 403(b)(7)/Roth 403(b)(7)                         When a contribution is received for your account, that amount is
account of your elective deferrals if you terminate employment; you                       added to your prior contributions. This is known as your
attain age 59 ½, or become permanently disabled. You may also                             Inception-To-Date (ITD) contribution. The total is compared to the
receive a distribution if you qualify for a financial hardship payment,                   breakpoints in the Fee Schedule below and the appropriate charge is
if the Employer Plan Document allows. Upon retirement, you may                            deducted from the current contribution. The remaining amount is
request a single sum payment or a series of systematic withdrawals                        then applied to the investments in your account. All fees you pay will
from your account. Since these transactions involve income tax                            be reflected in the quarterly statement you receive from the
consequences, you should consult a tax advisor before electing a                          recordkeeper. You may also view the fees on the internet site at
distribution from your account. You can receive a distribution from             
your 457(b) account if you terminate employment, attain age 70 ½,
incur an unforeseeable emergency or your employer terminates the
plan. (Please see other sections of this disclosure document for fees).                   What Is The Transaction Fee Schedule?

May I Borrow From My Account?                                                             The Transaction Fee Schedule shown below is based on (ITD)
                                                                                          contributions to your account:

Yes. Subject to the terms of the Employer Plan Document, you can                          (Example): On May 30th the ITD contributions to your account totaled
request a loan from your 403(b)(7) account by making a request                            $22,500. On June 15th an additional $1,000 deferral is received. The
through the internet site or completing a Loan Application. The loan                      ITD contributions now equal $23,500 and the fee applied to your
policy that describes the guidelines and procedures for taking a loan                     $1,000 would now be 5.00%, rather than 5.25%. Transaction Fees are
may be printed from the website at                                 deducted from ITD contributions before such contributions are
                                                                                          deposited to your account. These Transaction Fees are authorized
You are required by law to repay your loan, along with a reasonable                       under the Custodial Agreement.
rate of interest that is determined at the time the loan is issued. The
interest is credited to your account as the payments are made.
                                                                                                   Your ITD Contributions            Your Transaction Fee
If your loan is not repaid according to the program guidelines, the                                     $0 - $23,499.99                       5.25%
amount of the loan will be defaulted and becomes a “deemed”
distribution to you and the balance will be taxable for federal                                    $23,500.00 - $49,999.99                    5.00%
purposes, and state where applicable. No loan is available for the
Roth 403(b)(7), 457(b), Platinum Advisory 403(b)(7) or Roth 403(b)(7)                              $50,000.00 - $99,999.99                    4.15%
Programs.                                                                                        $100,000.00 - $249,999.99                    3.60%
                                                                                                 $250,000.00 - $499,999.99                    2.60%
What Happens To My Account If I Die?
                                                                                                 $500,000.00 - $999,999.99                    2.00%
                                                                                                   $1,000,000.00 and over                     1.50%
Your Participant Enrollment Form permits you to name a beneficiary
of your account. If you do not name a beneficiary, your account will
be distributed to your estate. Whenever you wish, you may modify
your beneficiary by completing in writing a new beneficiary                                Are There Any Transaction Fee Exceptions And Reductions?
designation form and sending it to the Sponsor or its designated
recordkeeper, GWN Marketing, Inc.
                                                                                          Yes. You may qualify for a reduction in the Transaction Fee if you
                                                                                          intend to make sizeable contributions to your account within the next
Will I Receive An Account Statement?                                                      13-month period. To qualify, you must execute a Letter of Intent
                                                                                          (LOI) specifying the total contributions you believe will be applied to
                                                                                          your account in the 13-month period that begins on the date of your
Yes. An account statement will be mailed to your address of record                        LOI. For a LOI executed with an incoming rollover from the Public
within 15 business days after the end of each quarter. Statements are                     School Employees’ Retirement System (PSERS), the LOI period is 18
generated for lump sum or rollover contributions. However,                                months to allow all of the participant’s contributions and interest
transaction confirmations for salary deferral contributions will not be                   from the PSERS system to rollover. If at the end of the 13-month or
generated. These will show on your quarterly statements. You will                         18-month period your contributions are not sufficient to meet the
also be able to view and print a copy of your account statement from                      program requirements, fees will be applied retroactively to your
the internet site at anytime at                                    account based on the ITD contributions made through the last day of
                                                                                          the 13-month or 18-month period. Fees will be collected through
You will have 60 days to review your statement for any discrepancies.                     redemptions that will be applied on a pro-rata basis to your accounts
At the end of the 60 day grace period, it will be assumed that you                        with account balances on that date.
agree with the information provided in your statement.
                                                                                          If your spouse participates in the Program, contributions made by
                                                                                          either you or your spouse may be counted as your ITD contributions
Are There Fees To Participate In The Program?                                             for determining your Transaction Fee.

                                                                                          Non-Advisory: All accounts, including those owned by a spouse,
The Program charges or passes along various fees as disclosed herein,                     significant other and/or children under the age of 21, within the
including a Transaction Fee that is based on your total account                           Money-by-Design 403(b)(7)/Roth 403(b)(7)/457(b)/IRA/Roth IRA/SEP
contributions from inception.                                                             IRA/Simple IRA and or Money-by-Design Platinum Advisory Service
                                                                                          Programs, may be aggregated to reduce Transaction Fees in the non-
                                                                                          Advisory Program only.

             “Money-by-Design” is a trademark of Kades-Margolis Corporation that has been licensed to Kades-Margolis Capital, LLC for the latter’s use in the
                                     Kades-Margolis Capital, LLC 403(b)(7)/Roth 403(b)(7) & 457(b) Program (Revision Date 1/11)
The Money-by-Design 403(b)(7)/Roth 403(b)(7)/457(b) Program will
allow rollovers, transfers and exchanges to the Money-by-Design IRA/
Roth IRA/SEP IRA/Simple IRA Program and Money-by-Design Platinum                          Pertinent Parties
Advisory Service Program without a new Transaction Fee.

If you provide a copy of a mutual fund statement at the time that you                    Exclusive Marketer: Kades-Margolis Corporation
initiate a qualifying transfer/exchange or rollover from a mutual fund                   Sponsor: Kades-Margolis Capital, LLC
family included in this Program, you will not be subject to a                            Recordkeeper: GWN Marketing, Inc.
Transaction Fee on these monies. These transfer/exchange or                              Custodian: Wilmington Trust Retirement and Institutional Services
rollover dollars will be included in the ITD contribution and therefore                  Company
may reduce future Transaction Fees.                                                      Securities offered through: GWN Securities, Inc.,
                                                                                         11440 N. Jog Road, Palm Beach Gardens, FL 33418, (561) 472-2700,
If you are a relative of a Kades-Margolis financial advisor, the                         Member: FINRA & SIPC.
Transaction Fees may be waived. If you add new
contributions/transfers/rollovers or exchanges to the Money-by-                          Kades-Margolis Corporation, Kades-Margolis Capital, LLC and or GWN
Design Platinum Advisory Service Program and elect the Asset Based                       Securities, Inc. (Organizations) may be reimbursed by funds or their
Fee Structure, you will not be subject to any Transaction Fees.                          affiliates or other service providers (Service Providers) for the
However, you will be subject to an Asset Fee structure imposed by                        expenses the Organizations incur for various sales meetings,
that Program.                                                                            seminars, and conferences held in the normal course of business, or
                                                                                         the Service Providers may directly sponsor the latter events.
                                                                                         Although Service Providers independently decide what they will
Will I Incur Any Other Fees?                                                             spend on these activities, some Service Providers may allocate their
                                                                                         promotional budgets based upon prior sales and asset levels and may
                                                                                         work with the Organizations to plan promotional and educational
Yes. An annual recordkeeping fee up to $25 ($6.25 per quarter) will                      activities on the basis of such budgets. The Organizations do not
be applied to your account.                                                              control Service Providers' determinations of how to allocate their
                                                                                         promotional budgets or their spending decisions in this regard. The
This fee is waived when the ITD contributions reach $50,000. This                        Organization also may receive recurring distribution and service fees
and other fees are authorized under the Custodial Agreement. In this                     (referred to as"12b-1 fees") from Service Providers. Our financial
regard, other fees that may be applied when taking distributions from                    advisors receive no additional compensation as a result of the
your account are:                                                                        aforementioned reimbursements and payments.

    •    For Systematic Distributions using ACH you may make one                         For additional information on a particular fund’s payment and
         free election per calendar year. ACH is available monthly,                      reimbursement practices, please refer to the fund's prospectus. We
         quarterly, semi-annually or annually. After your first                          also note that certain individuals simultaneously serve in key policy
         election, a $25 Fee will be assessed against your account for                   and decision making roles at Kades-Margolis Corporation,
         each additional election made during the year. This Fee will                    Kades-Margolis Capital, LLC and or GWN Securities, Inc.
         be deducted from your account evenly over the remaining
         number of systematic ACH withdrawals that year.                                 Kades-Margolis Corporation and Kades-Margolis Capital, LLC are
                                                                                         affiliated companies. Kades-Margolis Corporation and Kades-Margolis
    •    For Systematic Distributions with a physical check sent to                      Capital, LLC have no sponsorship, affiliations or endorsement
         participant’s address a $10 per check fee will be deducted                      relationship with Public School Employee Retirement System. Kades-
         from your account.                                                              Margolis Corporation and Kades-Margolis Capital, LLC and GWN
                                                                                         Securities Inc. are non-affiliated companies.
    •    $25 Distribution Fee for any and all partial lump sum
         distributions by check or ACH out of the Program.

    •    $70 Distribution Fee for any and all full (100%) lump sum                          Who Can I Contact With Questions?
         distribution by check or ACH out of the Program.

    •    For 403(b)(7) loans a $100 loan processing fee will be
         deducted from your account per loan. Only two open loans                        If you have any questions regarding the Money-by-Design Program,
         are allowed at one time on your account.                                        you may contact your local Kades-Margolis financial advisor by
                                                                                         calling the main office.

                                                                                         Kades-Margolis Corporation
Is There A Cost Applied By The Mutual Fund?                                              998 Old Eagle School Road, Suite 1220, Wayne, PA 19087
                                                                                         Toll-Free: (800) 433-1828 ext. 4 or Email:
                                                                                         Client Account Services: Kades-Margolis Capital, LLC
Yes. Mutual Fund Companies apply certain expenses and
                                                                                         Toll-Free: (800) 940-5524 Fax: (610) 971-8139
management fees to their mutual funds, which may vary by fund
share class. Generally, A, Advisor, and R4 share classes are being
                                                                                         (8:30 am to 5:00 pm EST) or visit
offered through the Program. These share classes generally impose
12b-1 fees that may be shared with the Sponsor to offset
recordkeeping and other service related costs of operating the
Program. For an explanation of the expenses and fees associated with
a particular fund class, participants should read the specific fund
prospectus. Mutual Fund Companies also may charge redemption
fees, particularly to participants who do not hold fund investments
for a certain minimum time. These expenses vary by fund and are
also disclosed in the fund’s prospectus.

            “Money-by-Design” is a trademark of Kades-Margolis Corporation that has been licensed to Kades-Margolis Capital, LLC for the latter’s use in the
                                    Kades-Margolis Capital, LLC 403(b)(7)/Roth 403(b)(7) & 457(b) Program (Revision Date 1/11)
                                                                                          complete schedule of fees and charges. Such fee shall be collected by
  Platinum Advisory Service- General Information                                          the Custodian, and the Advisor may direct the Custodian to pay all or
                                                                                          a portion of the fee to an agent performing duties on behalf of the
                                                                                          Advisor. The Custodian may pay all or a portion of the Custodial fee
                                                                                          to an agent performing administrative duties on behalf of the
Clients with a minimum of $25,000 in assets can elect to choose                           Custodian.
either a Tier I, Tier II or Tier III managed advisory model portfolio
option offered through the federally registered investment advisor of
GWN Securities, Inc. (Platinum Advisory Service). This Service offers
clients a choice of actively managed model portfolios. Under Tier I
                                                                                                 Annual Asset          $25,000.00        $250,000.00        $750,000.00
these portfolios include Aggressive Growth; Moderately Aggressive
Growth; Moderate Growth; Balanced; Moderately Conservative Income                                    Value                   to                to               & over
and Conservative Income. Under Tier II these portfolios include ICON
                                                                                                                       $249,999.99       $749,999.99
Tactical; ICON International; ICON Frontier Growth; ICON Frontier
Moderate; ICON Balanced; ICON Frontier Conservative; ICON
Income/Equity; CLS Wealth Accumulation Aggressive; CLS Wealth                                    Tier I Model              1.30%             1.05%               .80%
Accumulation Moderately Aggressive; CLS Wealth Accumulation                                    Portfolio Annual
Moderate; CLS Wealth Accumulation Moderately Conservative and CLS                              Asset Based Fee
Wealth Accumulation Conservative: PSI Tactical MPT Growth; PSI
Tactical MPT Moderate Growth; PSI Total Return; PSI Tactical MPT                                 Tier II Model             1.55%             1.35%              1.10%
Moderate; PSI Absolute Return; PSI Tactical MPT Moderate                                       Portfolio Annual
Conservative; PSI Tactical MPT Conservative. Under Tier III these                              Asset Based Fee
portfolios include Ocean Park Balanced and High Yield Corporate
Bond. Additional funds apart from those available in the basic                                  Tier III Model             1.65%             1.45%              1.20%
Money-by-Design Program may be available through the Platinum                                  Portfolio Annual
Advisory Service. Service Portfolios- the Tiers are reviewed at least                          Asset Based Fee
every 90 days and investment decisions are automatically
implemented for all participants in each model.

This option may not be suitable for all clients, particularly those with
smaller amounts of Program assets. This disclosure document does
not constitute an offer to engage in this option nor should be                            A client not meeting the 13- month minimum of $25,000 may receive
construed as investment advice. To engage in the Platinum Advisory                        notification 90 days prior to the expiration date. This notice will
Service, clients must receive the option’s disclosure documents and                       state that the client will have 90 days to satisfy the minimum
sign the Advisory Account Agreement. Please see your Kades-                               requirement. If the requirement cannot be met, then alternate
Margolis financial advisor or call for additional information. The                        investment options (non Advisory funds) must be received for the
Advisory Account Agreement and GWN Securities, Inc.’s Form ADV                            Advisory account to be placed in a Money-by-Design (Non Advisory)
Part II specifically describe the service.                                                program account no later than the end of the 13-month period. If the
The Pennsylvania State Education Association (PSEA) and Delaware                          alternate investment options are not received within the specified
State Education Association (DSEA) is not a sponsor of the service, but                   timeframe, then the Sponsor may open a Money-by-Design (Non
has endorsed the Flat Rate Fee Structure program.                                         Advisory) account for the client using the Program’s default Money
                                                                                          Market or Cash Reserve Fund.
  Platinum Advisory Service- Asset Based Fee Structure
 (AN OPTIONAL, ELECTIVE SERVICE)                                                          The Money-by-Design Platinum Advisory account will be
                                                                                          automatically de-unitized and shares liquidated. The proceeds from
                                                                                          the liquidation will then be invested into either the default Money
                                                                                          Market or Cash Reserve Fund or client elected options of the Money-
Clients can elect the Platinum Advisory Service Tier I, Tier II or                        by-Design (Non Advisory) program. These are not unitized. The
Tier III managed advisory portfolio model with the Asset Based Fee                        client is then subject to transaction and recordkeeping fees as noted
structure (see schedule below). The minimum requirement of                                within this Important Disclosure document.
$25,000 in assets must be received within 13-months of the account
open date. Sponsor has the right, but not the obligation to accept a                      An annual recordkeeping fee up to $25 ($6.25 per quarter) will be
minimum below $25,000. All Tiers of the Asset Based Fee program                           applied to your Platinum account. This fee is waived when the ITD
will accept initial salary reduction contributions with a minimum of                      contributions reach $50,000. This and other fees are authorized
$200 per pay as well as transfers/rollovers/exchanges and lump sum                        under the Custodial Agreement.
investments. For purposes of calculating Custodial Account assets,
the Custodian will aggregate the Platinum Advisory Service accounts
owned by a spouse, significant other and/or children under the age of
21 and it is not relevant whether you will intend to make sizeable
contributions to your account under a LOI or otherwise. The client
must provide the link request and social security number(s) to the
Sponsor for this to occur. The Program default is not to link
accounts. Linking is not retroactive and will only be in effect from
the date the request is received and processed.

All contributions received will be invested directly into the selected
Tier I, Tier II or Tier III models.

The Custodian shall collect a quarterly fee in arrears equal to a
percentage of the market value of all assets held within the Custodial
Account on the last business day of the quarter or upon withdrawal
from the Custodial Account prior to quarter end. The federally
registered investment advisor, through the Custodian, reserves the
right to collect such fee on a monthly basis. There are no
Transaction Fees applied to purchases within this Asset Based Fee
Structure. See the 403(b) Custodial Account Agreement for a
             “Money-by-Design” is a trademark of Kades-Margolis Corporation that has been licensed to Kades-Margolis Capital, LLC for the latter’s use in the
                                     Kades-Margolis Capital, LLC 403(b)(7)/Roth 403(b)(7) & 457(b) Program (Revision Date 1/11)

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