Our research department provides our team of advisory professionals with leading investment research. The objective is to keep our clients abreast of current trends and asset class valuations. We publish periodic research reports on leading investment-related topics in response to timely issues and economic developments. They provide the foundation for our asset allocation decisions and investment strategies. Equity Market Outlook: 2010 Second Quarter Update 5-Year Analysis (August 2010) Equity Market Outlook: 2010 Second Quarter Update 10-Year Analysis (August 2010) Equity Market Outlook: A Rational View (March 2010) Municipal Bonds: State of the Tax-Exempt Market (May 2009)