Phillips Financial Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
DCP MIDSTREAM PARTNERS LP	COM UT LTD PTN	23311P100	449	11,300	SH		SOLE		0	0	11,300
ENTERPRISE PRODS PARTNERS L	COM	293792107	496	14,644	SH		SOLE		0	0	14,644
GENERAL ELECTRIC CO	COM	369604103	456	16,887	SH		SOLE		0	0	16,887
ISHARES	MSCI ACWI US ETF	464288240	482	10,365	SH		SOLE		0	0	10,365
ISHARES	17 AMT-FREE ETF	464289271	1,785	32,467	SH		SOLE		0	0	32,467
ISHARES	16 AMT-FREE ETF	464289313	1,823	34,203	SH		SOLE		0	0	34,203
ISHARES	15 AMT-FREE ETF	464289339	1,196	22,784	SH		SOLE		0	0	22,784
ISHARES GOLD TRUST	ISHARES	464285105	243	20,980	SH		SOLE		0	0	20,980
ISHARES TR	TIPS BD ETF	464287176	4,168	36,188	SH		SOLE		0	0	36,188
ISHARES TR	CORE S&P500 ETF	464287200	30,641	145,037	SH		SOLE		0	0	145,037
ISHARES TR	CORE US AGGBD ET	464287226	21,051	188,642	SH		SOLE		0	0	188,642
ISHARES TR	NA NAT RES	464287374	1,258	31,444	SH		SOLE		0	0	31,444
ISHARES TR	S&P 500 VAL ETF	464287408	29,980	318,022	SH		SOLE		0	0	318,022
ISHARES TR	MSCI EAFE ETF	464287465	15,605	236,294	SH		SOLE		0	0	236,294
ISHARES TR	RUS MID-CAP ETF	464287499	3,415	19,563	SH		SOLE		0	0	19,563
ISHARES TR	CORE S&P MCP ETF	464287507	35,861	235,172	SH		SOLE		0	0	235,172
ISHARES TR	RUS 1000 VAL ETF	464287598	1,624	15,515	SH		SOLE		0	0	15,515
ISHARES TR	RUS 1000 ETF	464287622	2,747	23,351	SH		SOLE		0	0	23,351
ISHARES TR	SP SMCP600VL ETF	464287879	14,927	124,832	SH		SOLE		0	0	124,832
ISHARES TR	19 AMT-FREE MN	46429B564	449	17,566	SH		SOLE		0	0	17,566
ISHARES TR	18 AMT-FREE ETF	46429B580	1,577	61,725	SH		SOLE		0	0	61,725
ISHARES TR	CORE MSCITOTAL	46432F834	8,119	141,075	SH		SOLE		0	0	141,075
ISHARES TR	CORE ST USDB ETF	46432F859	3,304	32,710	SH		SOLE		0	0	32,710
JPMORGAN CHASE & CO	COM	46625H100	835	13,206	SH		SOLE		0	0	13,206
LINCOLN NATL CORP IND	COM	534187109	2,997	52,117	SH		SOLE		0	0	52,117
OLD NATL BANCORP IND	COM	680033107	581	41,095	SH		SOLE		0	0	41,095
SCHWAB STRATEGIC TR	US LCAP VA ETF	808524409	460	10,420	SH		SOLE		0	0	10,420
SMITH A O	COM	831865209	914	14,060	SH		SOLE		0	0	14,060
SPDR INDEX SHS FDS	GLB NAT RESRCE	78463X541	1,489	33,045	SH		SOLE		0	0	33,045
SPDR INDEX SHS FDS	S&P WRLD EX US	78463X889	1,006	34,467	SH		SOLE		0	0	34,467
SPDR SERIES TRUST	INTR TRM CORP BD	78464A375	1,340	38,627	SH		SOLE		0	0	38,627
SPDR SERIES TRUST	BRC HGH YLD BD	78464A417	5,580	141,164	SH		SOLE		0	0	141,164
SPDR SERIES TRUST	NUVN BR SHT MUNI	78464A425	467	19,229	SH		SOLE		0	0	19,229
SPDR SERIES TRUST	BARC SHT TR CP	78464A474	1,271	41,373	SH		SOLE		0	0	41,373
SPDR SERIES TRUST	DJ REIT ETF	78464A607	9,519	103,638	SH		SOLE		0	0	103,638
SPDR SERIES TRUST	BARCLYS TIPS ETF	78464A656	4,482	78,035	SH		SOLE		0	0	78,035
VANGUARD ADMIRAL FDS INC	500 VAL IDX FD	921932703	2,879	31,716	SH		SOLE		0	0	31,716
VANGUARD ADMIRAL FDS INC	SMLCP 600 VAL	921932778	1,136	11,011	SH		SOLE		0	0	11,011
VANGUARD ADMIRAL FDS INC	MIDCP 400 IDX	921932885	2,021	19,637	SH		SOLE		0	0	19,637
VANGUARD BD INDEX FD INC	LONG TERM BOND	921937793	1,369	14,189	SH		SOLE		0	0	14,189
VANGUARD BD INDEX FD INC	INTERMED TERM	921937819	6,128	70,833	SH		SOLE		0	0	70,833
VANGUARD BD INDEX FD INC	SHORT TRM BOND	921937827	4,062	50,443	SH		SOLE		0	0	50,443
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	20,064	240,236	SH		SOLE		0	0	240,236
VANGUARD CHARLOTTE FDS	INTL BD IDX ETF	92203J407	16,861	311,725	SH		SOLE		0	0	311,725
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	3,002	15,606	SH		SOLE		0	0	15,606
VANGUARD INDEX FDS	REIT ETF	922908553	15,157	185,021	SH		SOLE		0	0	185,021
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	5,209	47,344	SH		SOLE		0	0	47,344
VANGUARD INDEX FDS	MID CAP ETF	922908629	7,529	57,856	SH		SOLE		0	0	57,856
VANGUARD INDEX FDS	LARGE CAP ETF	922908637	2,033	21,033	SH		SOLE		0	0	21,033
VANGUARD INDEX FDS	EXTEND MKT ETF	922908652	1,290	13,835	SH		SOLE		0	0	13,835
VANGUARD INDEX FDS	VALUE ETF	922908744	3,587	42,176	SH		SOLE		0	0	42,176
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	2,096	19,233	SH		SOLE		0	0	19,233
VANGUARD INTL EQUITY INDEX F	GLB EX US ETF	922042676	815	13,966	SH		SOLE		0	0	13,966
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	18,017	356,206	SH		SOLE		0	0	356,206
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	2,004	46,205	SH		SOLE		0	0	46,205
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	786	14,106	SH		SOLE		0	0	14,106
VANGUARD MALVERN FDS	STRM INFPROIDX	922020805	4,188	85,775	SH		SOLE		0	0	85,775
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	4,774	59,437	SH		SOLE		0	0	59,437
VANGUARD SCOTTSDALE FDS	INT-TERM CORP	92206C870	7,388	83,794	SH		SOLE		0	0	83,794
VANGUARD STAR FD	VG TL INTL STK F	921909768	9,901	189,170	SH		SOLE		0	0	189,170
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	1,515	36,889	SH		SOLE		0	0	36,889
VANGUARD WORLD FD	MEGA CAP VAL ETF	921910840	4,915	80,740	SH		SOLE		0	0	80,740
VANGUARD WORLD FD	MEGA CAP INDEX	921910873	3,471	48,509	SH		SOLE		0	0	48,509
WILLIAMS COS INC DEL	COM	969457100	637	12,198	SH		SOLE		0	0	12,198