Quarter 2 - 2025 Newsletter

Enclosed with this letter is a simplified summary of your investment account values as of

June 30, 2025.  The quarter in brief as of 06/27/2025 ⁽¹⁾

We have included a different quarter end report above than we have used in the past for two reasons:

One, to show you the importance of being well diversified across many different types of investment classes including growth, value, small cap, mid cap, and emerging markets, corporate and high yield bonds.

Two, to show that as abnormal as this year has felt so far politically and socially between the tariffs, the Ukraine and Iran wars, immigration fights and the “Big Beautiful Bill” that the investment markets are acting ‘normal’. We’ve had ‘normal’ volatility, for example, with the DJI being down 10.44% on April 8 but ending up 4.02% for the year on June 30. ⁽²⁾

Let us assist you in ensuring that your portfolio is properly diversified to achieve ‘normal’ returns and is properly matched to your risk profile to help you remain invested for the long term.

Sincerely,