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 |
WISDOMTREE TRUST LRGECP VALUE | COM | 97717W547 | 73,564 | 1,167,889 | SH | | SOLE | | 1,066,317 | 309 | 101,263 |
SPDR SERIES TRUST LEHMAN YLD E | COM | 78464A417 | 185,770 | 5,423,964 | SH | | SOLE | | 4,916,349 | 1,226 | 506,389 |
ISHARES INC MSCI SWITZERLD | ETF - EQUITY | 464286749 | 4,534 | 152,538 | SH | | SOLE | | 145,475 | 0 | 7,063 |
POWERSHARES ETF TRUST AERSPC D | COM | 73935X690 | 36,126 | 1,022,855 | SH | | SOLE | | 932,916 | 247 | 89,692 |
SPDR SERIES TRUST SPDR KBW CAP | COM | 78464A771 | 33,026 | 848,141 | SH | | SOLE | | 778,799 | 286 | 69,056 |
ISHARES TR 0-5YR HI YL CP | COM | 46434V407 | 3,103 | 68,919 | SH | | SOLE | | 68,919 | 0 | 0 |
WISDOMTREE TR EUROPE HEDGED | COM | 97717X701 | 329,488 | 6,346,075 | SH | | SOLE | | 5,892,966 | 2,187 | 450,922 |
ISHARES INC MSCI EMU INDEX | ETF - EQUITY | 464286608 | 711 | 20,446 | SH | | SOLE | | 20,446 | 0 | 0 |
ALPS ETF TR RIVERFRNT STR INC | ETF - FIXED INCO | 00162Q783 | 270,991 | 11,083,513 | SH | | SOLE | | 10,001,898 | 2,396 | 1,079,219 |
DBX ETF TR EAFE CURR HDG | COM | 233051200 | 8,183 | 320,423 | SH | | SOLE | | 283,686 | 0 | 36,737 |
UBS AG JERSEY BRH ALERIAN INFR | COM | 902641646 | 113,968 | 4,738,849 | SH | | SOLE | | 4,318,622 | 1,138 | 419,089 |
WISDOMTREE TRUST JP SMALLCP DI | COM | 97717W836 | 29,018 | 526,940 | SH | | SOLE | | 509,854 | 306 | 16,780 |
ISHARES TR CONS GOODS IDX | COM | 464287812 | 35,032 | 311,285 | SH | | SOLE | | 296,344 | 0 | 14,941 |
ISHARES MSCI UNITED KINGDOM | COM | 46434V548 | 29,502 | 1,881,516 | SH | | SOLE | | 1,781,496 | 602 | 99,418 |
GLOBAL X FDS FTSE NORDIC RE | COM | 37950E101 | 6,894 | 326,727 | SH | | SOLE | | 312,509 | 164 | 14,054 |
MARKET VECTORS ETF TR OIL SVCS | COM | 92189F718 | 69,172 | 2,599,495 | SH | | SOLE | | 2,366,512 | 680 | 232,303 |
PEPSICO INC | COM | 713448108 | 17,613 | 171,870 | SH | | SOLE | | 154,561 | 42 | 17,267 |
SPDR SERIES TRUST HLTH CARE SV | COM | 78464A573 | 76,745 | 1,385,815 | SH | | SOLE | | 1,267,371 | 360 | 118,084 |
ISHARES TR MSCI GRW IDX | COM | 464288885 | 168,668 | 2,562,978 | SH | | SOLE | | 2,355,296 | 703 | 206,979 |
PAYCHEX INC COM | COM | 704326107 | 18,325 | 339,298 | SH | | SOLE | | 305,422 | 83 | 33,793 |
ISHARES TR S&P 500 INDEX | COM | 464287200 | 16,253 | 78,651 | SH | | SOLE | | 77,366 | 59 | 1,226 |
ISHARES TR DJ HOME CONSTN | COM | 464288752 | 45,018 | 1,662,451 | SH | | SOLE | | 1,515,603 | 321 | 146,527 |
CATERPILLAR INC COM | COM | 149123101 | 18,894 | 246,861 | SH | | SOLE | | 222,158 | 61 | 24,642 |
ISHARES TR MSCI EAFE IDX | COM | 464287465 | 5,937 | 103,875 | SH | | SOLE | | 99,097 | 0 | 4,778 |
ISHARES TR DJ HEALTH CARE | COM | 464288828 | 23,752 | 194,718 | SH | | SOLE | | 177,178 | 52 | 17,488 |
ISHARES INC MSCI AUSTRALIA | COM | 464286103 | 59,749 | 3,092,649 | SH | | SOLE | | 2,851,099 | 854 | 240,696 |
SPDR SERIES TRUST S&P TRANSN E | COM | 78464A532 | 22,794 | 496,610 | SH | | SOLE | | 446,412 | 103 | 50,095 |
A T & T INC (NEW) | COM | 00206R102 | 22,017 | 562,091 | SH | | SOLE | | 506,181 | 137 | 55,773 |
POWERSHARES ETF TR II KBW RG B | COM | 73937B712 | 42,510 | 1,089,176 | SH | | SOLE | | 997,721 | 378 | 91,077 |
SELECT SECTOR SPDR TR SBI CONS | COM | 81369Y308 | 98,461 | 1,855,653 | SH | | SOLE | | 1,667,430 | 558 | 187,665 |
VANGUARD SCOTTSDALE FDS INT-TE | COM | 92206C870 | 349,069 | 4,015,525 | SH | | SOLE | | 3,530,481 | 0 | 485,044 |
POWERSHARES ETF TR II PWRSH S& | COM | 73937B654 | 33,218 | 894,890 | SH | | SOLE | | 893,454 | 1,028 | 408 |
POWERSHARES ETF TR II EX RTE S | COM | 73937B563 | 72,524 | 2,744,034 | SH | | SOLE | | 2,488,059 | 662 | 255,313 |
FLEXSHARES TR QUALT DIVD IDX | COM | 33939L860 | 125,004 | 3,461,780 | SH | | SOLE | | 3,080,704 | 356 | 380,720 |
SPDR SER TR CAP S/T HI YLD | COM | 78468R408 | 108,402 | 4,198,384 | SH | | SOLE | | 3,798,639 | 969 | 398,776 |
ISHARES INC MSCI JAPAN | COM | 464286848 | 39,229 | 3,438,162 | SH | | SOLE | | 3,160,486 | 1,464 | 276,212 |
WISDOMTREE TR EUROPE SMCP DV | COM | 97717W869 | 147,257 | 2,582,114 | SH | | SOLE | | 2,356,572 | 607 | 224,935 |
CLAYMORE EXCHANGE TRD FD TR GU | COM | 18383M266 | 2,823 | 133,731 | SH | | SOLE | | 133,731 | 0 | 0 |
WISDOMTREE TRUST LARGECAP DIVI | ETF - EQUITY | 97717W307 | 87,906 | 1,197,642 | SH | | SOLE | | 1,087,831 | 108 | 109,703 |
CLAYMORE EXCHANGE TRD FD TR 20 | COM | 18383M241 | 25,181 | 1,215,901 | SH | | SOLE | | 1,080,461 | 0 | 135,440 |
ISHARES INC CORE MSCI EMKT | COM | 46434G103 | 54,339 | 1,305,607 | SH | | SOLE | | 1,227,228 | 406 | 77,973 |
ISHARES TR HDG MSCI JAPAN | COM | 46434V886 | 22,061 | 873,365 | SH | | SOLE | | 809,728 | 0 | 63,637 |
VANGUARD WORLD FDS INF TECH ET | COM | 92204A702 | 6,983 | 63,763 | SH | | SOLE | | 59,891 | 41 | 3,831 |
PIMCO ETF TR INV GRD CRP BD | COM | 72201R817 | 96,833 | 938,586 | SH | | SOLE | | 831,248 | 0 | 107,338 |
WISDOMTREE TR JAPAN HD RL ES | COM | 97717W638 | 85,871 | 3,333,522 | SH | | SOLE | | 3,036,662 | 791 | 296,069 |
VANGUARD WORLD FDS TELCOMM ETF | COM | 92204A884 | 89,368 | 963,863 | SH | | SOLE | | 868,348 | 179 | 95,336 |
POWERSHARES ETF TR II EURO CUR | COM | 73937B514 | 115,190 | 4,761,890 | SH | | SOLE | | 4,276,293 | 757 | 484,840 |
SELECT SECTOR SPDR TR SBI INT- | COM | 81369Y605 | 17,653 | 784,604 | SH | | SOLE | | 724,477 | 0 | 60,127 |
VANGUARD INDEX FDS LARGE CAP E | COM | 922908637 | 5,013 | 53,324 | SH | | SOLE | | 53,324 | 0 | 0 |
SPDR SERIES TRUST MORGAN STN T | COM | 78464A102 | 172,977 | 3,282,314 | SH | | SOLE | | 2,994,773 | 827 | 286,714 |
ISHARES TR DJ INTL SEL DI | COM | 464288448 | 45,887 | 1,582,855 | SH | | SOLE | | 1,452,971 | 428 | 129,456 |
GLOBAL X FDS GLOB X NOR ETF | COM | 37950E747 | 29,389 | 2,941,853 | SH | | SOLE | | 2,707,153 | 836 | 233,864 |
PIMCO ETF TR 0-5 HIGH YIELD | COM | 72201R783 | 108,528 | 1,167,481 | SH | | SOLE | | 1,057,017 | 271 | 110,193 |