The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AEGON N V NY REGISTRY SH COM 007924103 507 98,900 SH   SOLE NONE 387 0 98,513
APOLLO INVT CORP COM COM 03761U106 136 20,764 SH   SOLE NONE 0 0 20,764
APPLE INC COM COM 037833100 873 6,079 SH   SOLE NONE 19 0 6,060
BCE INC COM NEW COM 05534B760 460 10,388 SH   SOLE NONE 29 0 10,359
BANCO SANTANDER CHILE NEW SP A COM 05965X109 499 19,890 SH   SOLE NONE 0 0 19,890
CVS HEALTH CORP COM COM 126650100 943 12,016 SH   SOLE NONE 20 0 11,996
CISCO SYS INC COM COM 17275R102 938 27,754 SH   SOLE NONE 81 0 27,673
COACH INC COM COM 189754104 607 14,695 SH   SOLE NONE 42 0 14,653
COCA COLA CO COM COM 191216100 924 21,766 SH   SOLE NONE 61 0 21,705
DBX ETF TR DB XTR MSCI EUR COM 233051853 69,883 2,582,538 SH   SOLE NONE 1,824,712 0 757,826
DIAGEO P L C SPON ADR NEW COM 25243Q205 788 6,816 SH   SOLE NONE 20 0 6,796
DOW CHEM CO COM COM 260543103 402 6,320 SH   SOLE NONE 17 0 6,303
FIFTH STREET FINANCE CORP COM COM 31678A103 138 29,962 SH   SOLE NONE 0 0 29,962
FIFTH STR SR FLOATNG RATE CO C COM 31679F101 131 14,838 SH   SOLE NONE 0 0 14,838
FIRST TR EXCH TRADED FD III HO COM 33739P871 419 13,768 SH   SOLE NONE 0 0 13,768
FIRST TR EXCH TRADED FD III HO COM 33739P889 1,094 51,771 SH   SOLE NONE 0 0 51,771
GILEAD SCIENCES INC COM COM 375558103 932 13,722 SH   SOLE NONE 34 0 13,688
HONEYWELL INTL INC COM COM 438516106 369 2,955 SH   SOLE NONE 8 0 2,947
HORIZON TECHNOLOGY FIN CORP CO COM 44045A102 143 12,887 SH   SOLE NONE 0 0 12,887
ISHARES TR CORE SP500 ETF COM 464287200 3,431 14,460 SH   SOLE NONE 0 0 14,460
ISHARES TR CORE US AGGBD ET COM 464287226 6,345 58,481 SH   SOLE NONE 0 0 58,481
ISHARES TR MSCI EMG MKT ETF COM 464287234 147,293 3,739,358 SH   SOLE NONE 2,645,041 0 1,094,317
ISHARES TR IBOXX INV CP ETF COM 464287242 31,837 270,010 SH   SOLE NONE 197,359 0 72,651
ISHARES TR SP 500 GRWT ETF COM 464287309 199,419 1,516,265 SH   SOLE NONE 1,069,785 0 446,480
ISHARES TR SP 500 VAL ETF COM 464287408 372 3,580 SH   SOLE NONE 0 0 3,580
ISHARES TR 7-10YR TR BD ETF COM 464287440 21,138 200,187 SH   SOLE NONE 146,981 0 53,206
ISHARES TR 1-3 YR TR BD ETF COM 464287457 4,321 51,121 SH   SOLE NONE 0 0 51,121
ISHARES TR MSCI EAFE ETF COM 464287465 49,551 795,490 SH   SOLE NONE 560,693 0 234,797
ISHARES TR RUS MID CAP ETF COM 464287499 3,906 20,870 SH   SOLE NONE 0 0 20,870
ISHARES TR CORE SP MCP ETF COM 464287507 1,633 9,540 SH   SOLE NONE 0 0 9,540
ISHARES TR RUSSELL 2000 ETF COM 464287655 541 3,938 SH   SOLE NONE 0 0 3,938
ISHARES TR JP MOR EM MK ETF COM 464288281 26,534 233,371 SH   SOLE NONE 170,297 0 63,074
ISHARES TR NATIONAL MUN ETF COM 464288414 980 8,996 SH   SOLE NONE 0 0 8,996
ISHARES TR IBOXX HI YD ETF COM 464288513 2,949 33,592 SH   SOLE NONE 0 0 33,592
ISHARES TR 1-3 YR CR BD ETF COM 464288646 1,440 13,689 SH   SOLE NONE 0 0 13,689
ISHARES TR SHRT TRS BD ETF COM 464288679 493 4,468 SH   SOLE NONE 0 0 4,468
ISHARES TR U.S. PFD STK ETF COM 464288687 1,982 51,214 SH   SOLE NONE 0 0 51,214
ISHARES TR U.S. MED DVC ETF COM 464288810 24,612 162,539 SH   SOLE NONE 118,542 0 43,997
ISHARES TR USA QUALITY FCTR COM 46432F339 3,377 46,382 SH   SOLE NONE 0 0 46,382
ISHARES TR EXPONEN TECHNO COM 46434V381 24,712 832,058 SH   SOLE NONE 605,349 0 226,709
KOHLS CORP COM COM 500255104 749 18,824 SH   SOLE NONE 26 0 18,798
LAS VEGAS SANDS CORP COM COM 517834107 947 16,598 SH   SOLE NONE 0 0 16,598
MAGNA INTL INC COM COM 559222401 907 21,016 SH   SOLE NONE 58 0 20,958
MATTEL INC COM COM 577081102 947 36,981 SH   SOLE NONE 0 0 36,981
MEDLEY CAP CORP COM COM 58503F106 137 17,834 SH   SOLE NONE 0 0 17,834
NOVO-NORDISK A S ADR COM 670100205 762 22,231 SH   SOLE NONE 28 0 22,203
POWERSHARES QQQ TRUST UNIT SER COM 73935A104 124,955 943,915 SH   SOLE NONE 663,601 0 280,314
POWERSHARES ETF TRUST FINL PFD COM 73935X229 29,621 1,587,429 SH   SOLE NONE 1,145,005 0 442,424
POWERSHARES ETF TRUST DYNM LRG COM 73935X609 5,127 149,261 SH   SOLE NONE 0 0 149,261
POWERSHARES ETF TR II SP600 LO COM 73937B639 3,244 75,695 SH   SOLE NONE 0 0 75,695
POWERSHARES ETF TR II PWRSHS S COM 73937B654 13,352 329,587 SH   SOLE NONE 0 0 329,587
QUALCOMM INC COM COM 747525103 965 16,832 SH   SOLE NONE 48 0 16,784
RIO TINTO PLC SPONSORED ADR COM 767204100 892 21,924 SH   SOLE NONE 0 0 21,924
SPDR INDEX SHS FDS EURO STOXX COM 78463X202 78,958 2,172,158 SH   SOLE NONE 1,536,932 0 635,226
SPDR INDEX SHS FDS MSCI ACWI E COM 78463X848 10,216 299,512 SH   SOLE NONE 0 0 299,512
SPDR SERIES TRUST BLMBRG BRC C COM 78464A359 21,263 442,068 SH   SOLE NONE 323,898 0 118,170
SSGA ACTIVE ETF TR BLKSTN GSOS COM 78467V608 34,703 729,983 SH   SOLE NONE 530,886 0 199,097
SSGA ACTIVE ETF TR SPDR TR TAC COM 78467V848 55,800 1,141,796 SH   SOLE NONE 832,136 0 309,660
SPDR SER TR BLOOMBERG SRT TR COM 78468R408 45,440 1,625,182 SH   SOLE NONE 1,180,971 0 444,211
SELECT SECTOR SPDR TR SBI INT- COM 81369Y605 24,392 1,027,888 SH   SOLE NONE 754,841 0 273,047
THL CR INC COM COM 872438106 138 13,862 SH   SOLE NONE 0 0 13,862
UNITED TECHNOLOGIES CORP COM COM 913017109 940 8,374 SH   SOLE NONE 0 0 8,374
VANGUARD BD INDEX FD INC TOTAL COM 921937835 486 5,999 SH   SOLE NONE 0 0 5,999
VANGUARD INDEX FDS SML CP GRW COM 922908595 25,497 181,254 SH   SOLE NONE 123,201 0 58,053
VANGUARD INDEX FDS SM CP VAL E COM 922908611 25,068 204,037 SH   SOLE NONE 141,431 0 62,606
VANGUARD INDEX FDS VALUE ETF COM 922908744 174,243 1,827,025 SH   SOLE NONE 1,285,625 0 541,400
VANGUARD INDEX FDS SMALL CP ET COM 922908751 24,739 185,618 SH   SOLE NONE 136,176 0 49,442
WAL-MART STORES INC COM COM 931142103 1,158 16,069 SH   SOLE NONE 31 0 16,038
AFLAC INC COM COM 001055102 750 10,354 SH   DFND 1 0 0 10,354
AIR PRODS CHEMS INC COM COM 009158106 849 6,273 SH   DFND 1 0 0 6,273
ALLSTATE CORP COM COM 020002101 1,265 15,520 SH   DFND 1 0 0 15,520
ALPHABET INC CAP STK CL A COM 02079K305 666 786 SH   DFND 1 0 0 786
ALTRIA GROUP INC COM COM 02209S103 1,434 20,077 SH   DFND 1 0 0 20,077
AMPHENOL CORP NEW CL A COM 032095101 1,100 15,454 SH   DFND 1 0 0 15,454
AUTOMATIC DATA PROCESSING IN C COM 053015103 715 6,981 SH   DFND 1 0 0 6,981
BAY BANCORP INC COM COM 07203T106 174 22,217 SH   DFND 1 0 0 22,217
BERKSHIRE HATHAWAY INC DEL CL COM 084670702 1,050 6,299 SH   DFND 1 0 0 6,299
BROWN FORMAN CORP CL B COM 115637209 884 19,136 SH   DFND 1 0 0 19,136
C H ROBINSON WORLDWIDE INC COM COM 12541W209 447 5,780 SH   DFND 1 0 0 5,780
CISCO SYS INC COM COM 17275R102 926 27,409 SH   DFND 1 0 0 27,409
CINTAS CORP COM COM 172908105 608 4,807 SH   DFND 1 0 0 4,807
CLOROX CO DEL COM COM 189054109 618 4,582 SH   DFND 1 0 0 4,582
COCA COLA CO COM COM 191216100 1,407 33,147 SH   DFND 1 0 0 33,147
COMCAST CORP NEW CL A COM 20030N101 919 24,435 SH   DFND 1 0 0 24,435
DBX ETF TR XTRAK MSCI EAFE COM 233051200 8,172 276,167 SH   DFND 1 0 0 276,167
DANAHER CORP DEL COM COM 235851102 667 7,800 SH   DFND 1 0 0 7,800
DISNEY WALT CO COM DISNEY COM 254687106 1,784 15,733 SH   DFND 1 0 0 15,733
DOW CHEM CO COM COM 260543103 748 11,769 SH   DFND 1 0 0 11,769
DR PEPPER SNAPPLE GROUP INC CO COM 26138E109 861 8,793 SH   DFND 1 0 0 8,793
DU PONT E I DE NEMOURS CO COM COM 263534109 638 7,944 SH   DFND 1 0 0 7,944
ECOLAB INC COM COM 278865100 1,417 11,305 SH   DFND 1 0 0 11,305
EXPEDITORS INTL WASH INC COM COM 302130109 530 9,386 SH   DFND 1 0 0 9,386
EXXON MOBIL CORP COM COM 30231G102 604 7,362 SH   DFND 1 0 0 7,362
FEDEX CORP COM COM 31428X106 437 2,237 SH   DFND 1 0 0 2,237
FIDELITY NATL INFORMATION SV C COM 31620M106 559 7,027 SH   DFND 1 0 0 7,027
FIRST TR EXCHANGE TRADED FD CH COM 33733A102 357 11,271 SH   DFND 1 0 0 11,271
FIRST TR EXCHANGE TRADED FD DJ COM 33733E302 688 7,815 SH   DFND 1 0 0 7,815
FIRST TR NASDAQ100 TECH INDE S COM 337345102 714 11,870 SH   DFND 1 0 0 11,870
FIRST TR EXCHANGE TRADED FD IN COM 33734X150 622 18,111 SH   DFND 1 0 0 18,111
FIRST TR EXCHANGE TRADED FD UT COM 33734X184 659 24,053 SH   DFND 1 0 0 24,053
FIRST TR EXCH TRD ALPHA FD I L COM 33737J125 339 16,214 SH   DFND 1 0 0 16,214
FIRST TR EXCH TRD ALPHA FD I B COM 33737J133 336 21,489 SH   DFND 1 0 0 21,489
FIRST TR EXCH TRD ALPHA FD I G COM 33737J190 351 8,871 SH   DFND 1 0 0 8,871
FIRST TR EXCH TRD ALPHA FD I S COM 33737J232 359 7,998 SH   DFND 1 0 0 7,998
FIRST TR EXCHANGE TRADED FD NA COM 33738R860 575 22,129 SH   DFND 1 0 0 22,129
FISERV INC COM COM 337738108 918 7,961 SH   DFND 1 0 0 7,961
GALLAGHER ARTHUR J CO COM COM 363576109 705 12,475 SH   DFND 1 0 0 12,475
GENERAL DYNAMICS CORP COM COM 369550108 440 2,348 SH   DFND 1 0 0 2,348
GENERAL ELECTRIC CO COM COM 369604103 801 26,870 SH   DFND 1 0 0 26,870
HARRIS CORP DEL COM COM 413875105 613 5,506 SH   DFND 1 0 0 5,506
HARTFORD FINL SVCS GROUP INC C COM 416515104 515 10,715 SH   DFND 1 0 0 10,715
HERSHEY CO COM COM 427866108 1,039 9,510 SH   DFND 1 0 0 9,510
HOME DEPOT INC COM COM 437076102 602 4,100 SH   DFND 1 0 0 4,100
HONEYWELL INTL INC COM COM 438516106 509 4,078 SH   DFND 1 0 0 4,078
ILLINOIS TOOL WKS INC COM COM 452308109 602 4,546 SH   DFND 1 0 0 4,546
INTERNATIONAL BUSINESS MACHS C COM 459200101 768 4,408 SH   DFND 1 0 0 4,408
INTUIT COM COM 461202103 616 5,310 SH   DFND 1 0 0 5,310
ISHARES TR CORE US AGGBD ET COM 464287226 4,890 45,070 SH   DFND 1 0 0 45,070
ISHARES TR IBOXX INV CP ETF COM 464287242 2,633 22,330 SH   DFND 1 0 0 22,330
ISHARES TR RUS 1000 GRW ETF COM 464287614 6,794 59,703 SH   DFND 1 0 0 59,703
ISHARES TR IBOXX HI YD ETF COM 464288513 2,100 23,922 SH   DFND 1 0 0 23,922
ISHARES TR USA QUALITY FCTR COM 46432F339 4,133 56,778 SH   DFND 1 0 0 56,778
JOHNSON JOHNSON COM COM 478160104 1,424 11,431 SH   DFND 1 0 0 11,431
KIMBERLY CLARK CORP COM COM 494368103 714 5,422 SH   DFND 1 0 0 5,422
LOEWS CORP COM COM 540424108 652 13,938 SH   DFND 1 0 0 13,938
MARSH MCLENNAN COS INC COM COM 571748102 836 11,316 SH   DFND 1 0 0 11,316
MCDONALDS CORP COM COM 580135101 2,276 17,559 SH   DFND 1 0 0 17,559
NASDAQ INC COM COM 631103108 727 10,472 SH   DFND 1 0 0 10,472
NORTHROP GRUMMAN CORP COM COM 666807102 440 1,849 SH   DFND 1 0 0 1,849
ORACLE CORP COM COM 68389X105 824 18,480 SH   DFND 1 0 0 18,480
PPL CORP COM COM 69351T106 746 19,944 SH   DFND 1 0 0 19,944
PAYCHEX INC COM COM 704326107 645 10,957 SH   DFND 1 0 0 10,957
PEPSICO INC COM COM 713448108 1,628 14,552 SH   DFND 1 0 0 14,552
PRAXAIR INC COM COM 74005P104 868 7,317 SH   DFND 1 0 0 7,317
PROCTER AND GAMBLE CO COM COM 742718109 764 8,505 SH   DFND 1 0 0 8,505
PROGRESSIVE CORP OHIO COM COM 743315103 728 18,578 SH   DFND 1 0 0 18,578
REPUBLIC SVCS INC COM COM 760759100 1,412 22,486 SH   DFND 1 0 0 22,486
ROPER TECHNOLOGIES INC COM COM 776696106 456 2,207 SH   DFND 1 0 0 2,207
SPDR SP 500 ETF TR TR UNIT COM 78462F103 13,173 55,880 SH   DFND 1 0 0 55,880
SSGA ACTIVE ETF TR SPDR TR TAC COM 78467V848 2,653 54,297 SH   DFND 1 0 0 54,297
SMUCKER J M CO COM NEW COM 832696405 563 4,292 SH   DFND 1 0 0 4,292
SOUTHERN CO COM COM 842587107 653 13,117 SH   DFND 1 0 0 13,117
STANLEY BLACK DECKER INC COM COM 854502101 404 3,044 SH   DFND 1 0 0 3,044
STARBUCKS CORP COM COM 855244109 701 11,999 SH   DFND 1 0 0 11,999
TJX COS INC NEW COM COM 872540109 768 9,708 SH   DFND 1 0 0 9,708
3M CO COM COM 88579Y101 1,103 5,763 SH   DFND 1 0 0 5,763
TORCHMARK CORP COM COM 891027104 1,055 13,698 SH   DFND 1 0 0 13,698
TRAVELERS COMPANIES INC COM COM 89417E109 682 5,656 SH   DFND 1 0 0 5,656
US BANCORP DEL COM NEW COM 902973304 631 12,257 SH   DFND 1 0 0 12,257
UNITED PARCEL SERVICE INC CL B COM 911312106 496 4,618 SH   DFND 1 0 0 4,618
UNITED TECHNOLOGIES CORP COM COM 913017109 702 6,254 SH   DFND 1 0 0 6,254
VANGUARD BD INDEX FD INC TOTAL COM 921937835 5,614 69,235 SH   DFND 1 0 0 69,235
VANGUARD INTL EQUITY INDEX F A COM 922042775 6,572 137,406 SH   DFND 1 0 0 137,406
VANGUARD INTL EQUITY INDEX F F COM 922042858 10,074 253,632 SH   DFND 1 0 0 253,632
VANGUARD INDEX FDS MID CAP ETF COM 922908629 12,884 92,530 SH   DFND 1 0 0 92,530
VANGUARD INDEX FDS VALUE ETF COM 922908744 14,621 153,313 SH   DFND 1 0 0 153,313
VANGUARD INDEX FDS SMALL CP ET COM 922908751 9,092 68,218 SH   DFND 1 0 0 68,218
VERISK ANALYTICS INC COM COM 92345Y106 1,420 17,502 SH   DFND 1 0 0 17,502
WAL-MART STORES INC COM COM 931142103 615 8,537 SH   DFND 1 0 0 8,537
WASTE MGMT INC DEL COM COM 94106L109 1,534 21,030 SH   DFND 1 0 0 21,030
YUM BRANDS INC COM COM 988498101 956 14,961 SH   DFND 1 0 0 14,961