Dear Clients and Friends:

Our firm continues to grow with new clients who have come to trust our advice and appreciate the level of care and understanding we provide, especially during these challenging and extraordinary times.

I am proud of YOUR team of dedicated professionals at PFS. After sitting down with each of our people individually, I can tell you without exception that all are excited about their work and the important roles they play in taking care of you, our valued clients. It is my belief that we will only be as good as the professional staff who commit to making PFS their home. I remain committed to doing all possible to enable everyone to continue to enjoy what they do to fulfill both career and personal goals.

We are excited to announce that Sarah Horrigan has joined our team as Client Service Specialist. She will be the liaison between the advisors and our clients in dealing with those numerous forms required to execute investment and insurance related issues. Sarah brings years of customer service experience at John Hancock, Selman & Company, Assurant Employer benefits, and Lincoln Financial Group. Sarah graduated from Toledo University with a major in Marketing and minor in Business Administration. She received her MBA from Cleveland State.

With Sarah joining our team, Patty Finch will transition to take on more individual client responsibility as well as support Jeremy Bok in our growing 401(K) Plus^SM program.

Adding Sarah to our team is evidence of our continuing dedication to our clients and prospective clients in ensuring that entrepreneurs, leaders in business, and families experience a truly customized and high-touch approach to managing their wealth…Your Life. Your Money. Your Way^SM.

Market Update

One year ago, as the economy was in the depths of the recession and the stock market sunk to a decade low, the concept of buying gold became a frequently asked question. The question was not just about whether gold investment vehicles were a good investment, but whether investors should consider buying and stashing away precious metals in the event civilization unraveled.

How far back from the brink we have come was evident recently when the world's largest seller of gold coins, Austrian mint Muenze Oesterreich, announced plans to slash production after demand had fallen by 80% from the record levels set a year ago, according to the Austrian Mint. Sales volumes among all gold coin types fell to 53,930 ounces in the first two months of 2010, compared with 267,091 ounces in the same period a year before. Gold bar sales fell 74% to 69,636 ounces.

This is a sign that the transition from economic recovery to sustainable growth is underway. The progress is uneven, which may cause the markets and economic data to encounter volatility, but the economy is becoming healthy again. The improving credit markets and the return of economic and profit growth both here and abroad have coincided with the return of investor confidence. Specifically, over the past year:

• Retail sales are up 4%*
• Home sales are up 7% and prices are up slightly^
• The stock market, measured by the S&P 500, is up 73% fromthe low point
• Profits for S&P 500 companies are up over 25%
• Orders for manufactured goods are up 10%*
• Exports from the U.S. are up 18%*
• First time filings of claims for unemployment benefits are
down 32%*

The recovery continues to gain strength and momentum and the U.S. economy is now on the cusp of finally creating new jobs. This is evident in the 50,000 temporary workers hired in each of the past three months and an increase in the number of overtime hours being worked. Job growth is an essential component of sustainable growth.

The extremes of fear and euphoria evident in the markets in recent years may provide astute investors a golden opportunity. Taking action to profit or protect from extremes in investor behavior are essential components of a sound long-term investment plan. We remain focused on navigating the volatility ahead as the transition to sustainable growth unfolds.

What does this all mean as you try to plan your financial affairs—especially your investment strategies for the upcoming year? While last year’s growth was really “recovery growth,” many people are asking what we can expect in 2010. We have prepared a short Power Point Presentation with Notes to follow along with on “What to Expect When the Unexpected is Expected.”

Please Click HERE to download the Presentation .

Key Points for Managing through Recovery

Traditionally, consumers have led the recovery out of past recessions. This will not be the case this year. It seems that this responsibility will fall squarely on businesses which are now under tremendous pressure to work their way out of the deepest recession since the Great Depression. In addition, with increased income taxes at the Federal, State and Local levels, coupled with more hidden/excise taxes to cut business and the recently passed Health Care Reform, debate is raging on how much wind will be in the sails of the business sector to step up to the plate.

For investors, we see the following action steps:

1. Be Flexible
2. Consider Taking Bigger Bets Among a Fewer Number of High
Conviction Ideas
3. Establish Trading Ranges
4. Consider Seeking Opportunities With Increased Volatility
5. Do Not Give Gains Away By Shifting Into Fixed Income During a Potentially Rising Interest Rate Environment
6. Do Not Forget the Simple Investing Rules
7. Consider Alternative Investments, Not Just Bonds for Managing Risk
8. Invest in What You Know
9. Manage Expectations

Technology Update

We completed our latest round of enhancements to Wealth PlanSM on time. The comprehensive nature of this tool for aggregating financial information and storing critical documents, along with its interactive features provides customized feedback that allows you to make more confident and informed decisions to ensure your wealth works the way you choose.

Please take a moment to view the 3 minute Wealth PlanSM video at the link below:

http://financialpicture.com/PlannedFinancialServices/boxvideo.html

Or visit the link below for an online demonstration. Be sure to use the username and password below when logging on:

https://wealth.emaplan.com/lpl/default.aspx?lpl/plannedfinancialservices

Username: LukeJen1
Password: Wealthplan1
(Case sensitive)

Serving your needs is an honor and a pleasure. We remain committed to keeping you informed so you can make better decisions as they relate to your family and your business or career. As always, please call Jeremy, Walt, Patty or me with any questions or concerns. We value your input and our relationship as your wealth advisor. If you know of someone who can benefit from our guidance or may be seeking a second opinion, please let us know.

Thank you for your trust and confidence. We work hard to earn it everyday.

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Respectfully, Frank Fantozzi, CPA, MT, PFS, CDFA, AIF President, Planned Financial Services