1605 N. Cedar Crest Blvd., Suite 111Allentown, PA 18104610-437-5650 888-437-5650www.Magellanlv.com

This and/or the accompanying statistical information was prepared by or obtained from sources that Magellan Financial, Inc (Magellan Financial, Inc is a separate entity from WFAFN) believes to be reliable, but its accuracy is not guaranteed. The report herein is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here reflect the judgment of the author as of the date of the report and are subject to change without notice. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

Chart of the S&P 500

This and/or the accompanying statistical information was prepared by or obtained from sources that Magellan Financial, Inc (Magellan Financial, Inc is a separate entity from WFAFN) believes to be reliable, but its accuracy is not guaranteed. The report herein is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here reflect the judgment of the author as of the date of the report and are subject to change without notice. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

Chart of 10 Year Treasury Note Yield

2012 year end

2013 latest2013 year

end forecast

Inflation-adjusted GDP

Rolling four quarters 2.0% 1.6% 2.5%

Inflation adjusted GDP

Latest quarter percent change and

annual rate1.8%

Unemployment

End of period/latest 8.5% 7.6% 7.2%

CPI inflation 12-month average 3.2% 1.8% 2.5%

Federal deficit Rolling 12 months $1.2 trillion $0.9 trillion $0.8 trillion

Existing home sales (SAAR*)

End of period/latest 4.4 million 5.1 million 5.5 million

Total Vehicle sales (SAAR*)

End of period/latest 13.5 million 15.9 million 15.5 million

Economic and market forecastAs of July 17, 2013

SAAR = Seasonally adjusted annual rateSources: Bloomberg, Wells Fargo Advisors

2012 year-end 2013 latest

2013 year end

forecast

S&P 500 index

Latest as of 7/17/2013 1426.19 1680.91 1650-1700

S&P operating earnings

Trailing four quarters

$96.88/Share

$98.35/share 108/share

S&P price/earnings

Trailing four quarters operating earnings

14.72 17.09 15.51

U.S. Equity Market and Forecast

1605 N. Cedar Crest Blvd., Suite 111Allentown, PA 18104610-437-5650 888-437-5650www.Magellanlv.com

Past performance is no guarantee of future results.  Dividends are subject to change or elimination and are not guaranteed.

Stocks offer long term growth potential, but may fluctuate more and provide less current income than other investments.  An investment in the stock market should be made with an understanding of the risks associated with common stocks, including market fluctuations.

Investments that are concentrated in a specific sector or industry may be subject to a higher degree of market risk than investments that are more diversified.

Investing in foreign securities presents certain risks not associated with domestic investments, such as currency fluctuation, political and economic instability, and different accounting standards. This may result in greater share price volatility. These risks are heightened in emerging markets.

The FDIC standard maximum deposit insurance amount per depositor per insured depository institution for each account ownership category is $250,000.

This and/or the accompanying statistical information was prepared by or obtained from sources that Magellan Financial, Inc (Magellan Financial, Inc is a separate entity from WFAFN) believes to be reliable, but its accuracy is not guaranteed. The report herein is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here reflect the judgment of the author as of the date of the report and are subject to change without notice. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

  Additional Information is available upon request.