Kensington Wealth Advisors is a registered investment adviser. Information presented herein is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Actual Performance Disclosure
Any performance shown for the relevant time periods is based upon actual trading in an account of Kensington’s Tracking accounts and model portfolio.

The portfolio performance is shown net of the model advisory fee of 2% the highest fee charged by Kensington and sample trading costs based on our Custodian’s with Kensington’s Tracking accounts trading costs. Performance does reflect the deduction of other fees or expenses, including but not limited to brokerage fees, custodial fees and fees and expenses charged by mutual funds and other investment companies. Performance results shown include the reinvestment of dividends and interest on cash balances where applicable.

The most recent performance calculations have not been audited by any third party, past performance has as denoted. Performance of client portfolios may differ materially due to the timing related to additional client deposits or withdrawals and the actual deployment and investment of a client portfolio, or the reinvestment of dividends, the length of time various positions are held, the client’s objectives and restrictions, and fees and expenses incurred by any specific individual portfolio.

Benchmarks
The Kensington Wealth Advisors performance results shown are compared to the performance of the Bank of America HY Index, S&P 500, Federated HY Mutual Fund, MSCI World Index minus the US, Barclays AGG Bond Index with all applicable dividends reinvested. The index results do not reflect fees and expenses and you typically cannot invest in an index.

Return Comparison
Bank of America HY Index, Federated HY Mutual Fund and the Barclays AGG Bond Index were chosen for comparison as they are generally well recognized as an indicator or representation of the High Yield and Corporate Bond markets in general and includes a cross section of holdings. The MSCI World Index minus the US and the S&P 500 were chosen for comparison as they are generally well recognized as an indicator or representation of the Equity markets in general and includes a cross section of holdings which represents the broad equity indexes performance.

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS