WE DO IT FOR YOU

Our highest level of service is best for those who do not have the time or do not want to take the time to pay close attention to the management of their (retirement) portfolios. The fee is a modest percentage of the assets under management.

The services you will receive to help you achieve your financial goals are:

1. Work with you to determine a suitable target asset allocation that will be based on your financial situation, plans and desires, risk tolerances, and what investments are available in your account(s). This first step is very important and should not be ignored even if you decide to "do it yourself."
2. Apply the tactical risk reduction models described previously and possibly other portfolio management techniques designed to reduce risk or enhance returns. This includes rebalancing if needed approximately once a quarter. If your account(s) permit third parties to place orders, and most do, then MDP Associates will take care of getting the orders executed. You won't need to take any action. If third parties are not permitted, then we will let you know by your preferred method(s)--phone call, fax, e-mail--what needs to be done and when. Normally you will receive the instructions over the weekend or Monday morning for execution at Monday's (or the first market day of the week) closing prices.
3. After each quarter, you will receive a review of the activity in your account and a newsletter discussing what happened the prior quarter and what actions may be anticipated in the near future. Should you wish, it will also be a good time to review your current market strategy and what changes are appropriate or worth considering.
4. If there has been no such review in the past year, we will do one unless you really do not want one. It is important to be aware of significant changes in the factors behind the current target allocation. Periodic reviews are a great way to see if there have been any.

The are some important advantages to having us do it for you:

• Convenience: Once the target allocations are established, you do not have to pay attention to the markets or worry about being around to place orders. It all gets done for you. Some clients who are retired investment professionals have said they want to be out playing golf or sailing their boat or another fun activity and don't want to worry about looking at their investments very much.
• Customized for you: The target asset allocations will be designed to fit your situation and your needs. "Canned" allocations, even those that are geared to your age or years until planned retirement, usually are not going to be right for you. This is definitely a case where one size does not fit all. Each investor has unique needs and characteristics, and someone who does not know you is not able to take yours into account when he or she writes about the recommend allocations. I am often amused by Wall Street gurus who make a big deal about changing their recommended allocation to stocks by a small amount, from 60% to 65% for example. Either both of those are more or less right for you or are way off. Also, why the big deal about that small change. The portion allocated to stocks either should be all in stocks or all out of stocks. That is how risk reduction and the models we use work.
• It will get done! This may be the most important benefit from letting us do it. It is all too easy to question an action that you or someone else has decided is the right thing to do now. This is a natural human reaction, particularly when money--and it often is a considerable amount--is involved. Experience has shown that not following one's well crafted plan of action over the long term produces inferior, sometimes even disasterous as one tries to recover from a prior error of judgment, investment results. I have found it is easy to take action with client accounts (and since I treat my own just like clients, I also benefit) becuase that is what I have promised that I will do. If I don't, I am not doing the job that you have hired me to do.

If you have questions, would like more information, or would like to discuss your personal situation to see how our services can help you, please e-mail to "retire -ATsign- pankin.com" or call (703) 524-0937 during normal business hours (Eastern time).