FOR INVESTMENT PROFESSIONAL USE ONLY.

1. FOR INVESTMENT PROFESSIONAL USE ONLY.

2. FOR INVESTMENT PROFESSIONAL USE ONLY.

3. FOR INVESTMENT PROFESSIONAL USE ONLY.

4. Annual returns for key indices (1990–2010) FOR INVESTMENT PROFESSIONAL USE ONLY. Source: Indicated Index Providers, 2010

5. Annual returns for key indices (1990–2010) FOR INVESTMENT PROFESSIONAL USE ONLY. 15 out of 20 years, the previous year’s leader was in the top half of performers the following year. Source: Indicated Index Providers, 2010

6. Annual returns for key indices (2007–2010) FOR INVESTMENT PROFESSIONAL USE ONLY. Source: Indicated Index Providers, 2010

7. Introducing Marshall Schield FOR INVESTMENT PROFESSIONAL USE ONLY. Wirehouse in 1967, youngest stock broker 1982, Money Magazine ranked MLS in top 3 Market Timers for the previous decade 1987, avoided the Crash of 1987, Black Monday, where the S&P fell over -20% in one day – interview with Barron’s 1990, Troy Schield (sub-advisor for Market Leaders) and I managed the #1 Capital Appreciation fund according to Lipper Analytical Services Wrote and published the first book on Active Sector Investing, Sector Funds for Trophy Returns Research  provided bullish signals that participated in the bull market of the 90’s and Bearish signals avoiding the majority of the bear markets in 2000-2 and 2007-9 Marshall SchieldOwner/Chief StrategistSTIR Research

8. FOR INVESTMENT PROFESSIONAL USE ONLY. STIR Research LLCMarket Leaders Index

9. FOR INVESTMENT PROFESSIONAL USE ONLY. Global active allocation“Why Own the Whole Market When You Can Own the Market Leaders”Quantitative Analysis of 8 equity asset classes6 domestic styles, Developed Countries, and Emerging MarketsStriving to own the leaders that add to performance while avoiding the laggards that drain performance

10. FOR INVESTMENT PROFESSIONAL USE ONLY.

11. FOR INVESTMENT PROFESSIONAL USE ONLY. Market Leaders: Large & Low Spreads at Market Turning Points

12. FOR INVESTMENT PROFESSIONAL USE ONLY. • Global Bottoming Process?

13. FOR INVESTMENT PROFESSIONAL USE ONLY.

14. FOR INVESTMENT PROFESSIONAL USE ONLY.

15. FOR INVESTMENT PROFESSIONAL USE ONLY.

16. FOR INVESTMENT PROFESSIONAL USE ONLY.

17. Value Added with Market LeadersUsing the periodic chart’s Market Leaders as the foundation FOR INVESTMENT PROFESSIONAL USE ONLY. • Drills down – Uses the same methodology to identify the top mutual funds within the leading asset classes held by the Index • Options that add risk management: • Market Leaders Tactical (utilizing up to 50% cash in bear markets) • Market Leaders Strategic (utilizing Targeted Volatility Analysis to allocate to bonds each month) • Market Leaders Dynamic (utilizing sectors, cash and short positions for up to 60% of the portfolio during bear markets) • Create portfolios to match your clients’ risk profiles GOAL: Outperform both a fixed allocation portfolioand a lifestyle fund with less risk

18. FOR INVESTMENT PROFESSIONAL USE ONLY. Market Leaders Model Account performance04/02/12 – 06/29/12 Dynamic Strategic Tactical S&P 500 return: -2.9% S&P 500 risk: 16.3% Source: Flexible Plan Model Accounts; Returns shown are after 2.6% management fee and a maximum establishment fee of 1.2% has been deducted at inception.

19. FOR INVESTMENT PROFESSIONAL USE ONLY.

20. FOR INVESTMENT PROFESSIONAL USE ONLY. Full market cycle FPI Hypothetical Research Reports: 10/07–03/12 Oct ’07 – Mar ‘09 Jan ‘11 – Mar ‘12 Source: Flexible Plan Investments, Ltd. Research Report (hypothetical) Oct ‘07– Mar ’12. Returns shown are net of 2.6% management fee. A maximum Establishment Fee of 1.2% has been deducted at inception. These results were achieved by means of retroactive application of a computer model and may not represent the results of actual trading. Past performance does not guarantee future results. Apr ’09 – Dec ‘10

21. FOR INVESTMENT PROFESSIONAL USE ONLY. Hypothetical performance across all markets October’07 – March‘12 Source: Flexible Plan Investments, Ltd. Research Report (hypothetical) Oct ‘07– Mar ’12. Returns shown are net of 2.6% management fee. A maximum Establishment Fee of 1.2% has been deducted at inception. These results were achieved by means of retroactive application of a computer model and may not represent the results of actual trading. Past performance does not guarantee future results.

22. FOR INVESTMENT PROFESSIONAL USE ONLY.

23. FOR INVESTMENT PROFESSIONAL USE ONLY.

24. Market Leaders portfolios FOR INVESTMENT PROFESSIONAL USE ONLY. Strategic A risk-adjusted implementation of the Market Leaders Index approach Tactical Adds Tactical Allocation with cash Dynamic Adds Tactical Allocation with short selling and sectors

25. Selecting a Market Leaders portfolio FOR INVESTMENT PROFESSIONAL USE ONLY.

26. Key Points Being uncorrelated to the market at its turning points is part of Market Leaders’ strength. It is not always what you own that produces the success of Market Leaders, but what you avoided owning. A majority of the non-US countries entered into a new Bear Market in 2012. Market Leaders is a full market cycle strategy – it is running a marathon, not a sprint.

27. Can be complimented with the use of uncorrelated strategies Bear Market • Inverse or leveraged strategies • Strategies that trade daily or use mean reversion • Alternative and fixed income strategies

28. Disclosures This presentation is provided for information purposes only and should not be used or construed as an indicator of future performance, an offer to sell, a solicitation of an offer to buy, or a recommendation for any security. Flexible Plan Investments, Ltd. cannot guarantee the suitability or potential value of any particular investment. Advisor provides suitability-based profiles designated Enhanced Income, Conservative, Moderate, Balanced, Growth and Aggressive. Clients should draw no conclusions from such titles. They are simply a way of designating the hierarchical ranking of the portfolios within the Market Leaders program. They are not meant to imply any ranking within some universal risk measure or benchmark, nor are they equivalent to a client’s subjective concept of the term. The maximum investment advisory fee is 2.6% yearly, dependent upon assets under management, and is deducted quarterly. Expenses of the funds or sub-accounts are included to the extent they are reflected in the NAV. Other fees may apply. All expenses are required to be disclosed in each investment’s prospectus available from your financial representative and the product provider. Distributions have been reinvested. When provided, dividends are reinvested for indexes. In those cases where indexes do not provide dividend information, those returns would be understated. And, as with all third parties, Flexible Plan by necessity relies on their information, data and software provided, but whose reliability, while believed to be accurate, cannot be guaranteed and losses may result from reliance upon them. These are normal risks for which Flexible Plan takes no responsibility beyond use of reasonable care in its selection of the third party. As individual tax rates vary, taxes have not been considered. Various minimum-holding periods for each fund may be utilized to comply with trading restrictions. Advisor reserves the right to change these periods. No index is directly tradable. Actual investment performance of any trading strategy may frequently be materially different than the results shown. Some funds used in the model may not be available for future use. As supplemental information, a listing of all assumed trades and other data used to generate the referenced results is available upon requests. Inquiry of more current results is advised. The performance data quoted on reverse represents past hypothetical performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, and investors’ shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Portfolio Returns Utilized:  Unless otherwise noted, the strategy returns utilized in creating the charts described above are HYPOTHETICAL returns drawn from our research reports.  As such, the performance results depicted have been produced by application of selected mathematical calculation criteria to historical price data. Annual returns are compounded weekly and are inclusive of the last full trading week of the year, but may not necessarily include the last trading day of the year. Research Report results are NOT represented as actual trading or client experience nor do they reflect the impact on decision making of economic or market factors experienced during actual management of funds.  All fund expenses are reflected in NAV of the funds utilized in the research and are included in the hypothetical returns utilized. Other fees may apply. All expenses are required to be disclosed in each investment’s prospectus, available from your financial representative and the product provider. Distributions have been reinvested. When provided, dividends are reinvested for indexes. In those cases where indexes do not provide dividend information, those returns would be understated. As individual tax rates vary, taxes have not been considered. Various minimum-holding periods for each fund may be utilized to comply with trading restrictions. Fund or Advisor may change these periods. Actual investment performance of any trading strategy may frequently be materially different than the results shown. “Model Accounts,” where referenced, reflect actual accounts. Accounts used are based on the account longevity and its activity. Many are titled in the name of Flexible’s President. The returns of the Evolution Funds (the “Funds”), sub-advised by Flexible Plan, reflect the actual price changes. The Fund returns, while believed representative of actual results, may not necessarily represent the actual experience of any client. Enhancements have been made in our methodologies, which are believed to have had a positive effect on returns. The amount is not precisely quantifiable, but as actual price history is used, the effect of these enhancements is reflected. Continued development efforts may result in further changes. Utilizing performance between selected dates may not be indicative of overall performance. Inquiry for total results is always advised. Return examples given will vary based upon their volatility as they relate to the indices shown. Other accounts, investments and indices may materially outperform or under perform. Various investments used may no longer be available due to the result of periodic review, consolidations and/or exchange conditions imposed. Dividends, where available, are reinvested. Index dividends are posted after the end of each month, and then retroactively prorated on a daily basis. Generally an index may not be comparable due to the differences between the index and the client’s objectives, diversification, represented industries, number and type of component investments, their volatility and the weight ascribed to them. The indexes should not be considered benchmarks. Rather, they are simply indicative of the market environment in which the returns were achieved. No index is a directly tradable investment. If the Universe Components consist of Evolution Funds, since Flexible Plan Investments would receive a fee for its sub-advisor activities, the client will receive a pro-rata credit on his billing. These credits are not reflected in the results shown, causing an understatement of returns where they exist. Rafferty Asset Management, LLC serves as the Funds’ Investment Advisor and Flexible Plan Investments, Ltd. serves as the Funds’ sub-advisor. Read the Direxion Funds Prospectus and Flexible Plan Investments’ Brochure Form ADV Part 2A carefully before investing. In deciding whether to invest in the Funds described, you should carefully consider the investment objectives, risks and the charges and expenses of the investment company before investing. The Prospectus and Funds’ SAI contain information regarding the above considerations and more. You may obtain a Prospectus and SAI by calling Direxion Funds at (800) 851-0511 or writing Evolution Managed Funds, P.O. Box 1993, Milwaukee, WI 53201-1993 or download the PDF from http://www.flexibleplan.com/files/docs/EVProspectus.pdf. Returns shown are net of a 2.6% management fee. A Maximum Establishment Fee of 1.2% has been deducted at inception. Marshall Schield and STIR Research are not affiliated with Flexible Plan Investments, Ltd. PAST RESEARCH REPORT RESULTS DO NOT GUARANTEE FUTURE RESULTS. Inherent in any investment is the potential for loss as well as the potential for gain. A list of all recommendations made within the immediately preceding year is available upon written request. See “Risk Considerations” in Brochure Form ADV Part 2.