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
AFLAC INC COM COM 001055102 547 7,450 SH   SOLE NONE 0 0 7,450
APOLLO INVT CORP COM COM 03761U106 129 20,171 SH   SOLE NONE 0 0 20,171
BANK N S HALIFAX COM COM 064149107 540 9,840 SH   SOLE NONE 0 0 9,840
CVS HEALTH CORP COM COM 126650100 959 11,955 SH   SOLE NONE 20 0 11,935
CAPITAL ONE FINL CORP COM COM 14040H105 570 7,177 SH   SOLE NONE 0 0 7,177
CISCO SYS INC COM COM 17275R102 506 15,117 SH   SOLE NONE 81 0 15,036
COACH INC COM COM 189754104 655 14,466 SH   SOLE NONE 42 0 14,424
COCA COLA CO COM COM 191216100 941 21,592 SH   SOLE NONE 61 0 21,531
DBX ETF TR DEUTSCHE USD ETF COM 233051432 23,115 452,086 SH   SOLE NONE 340,310 0 111,776
DBX ETF TR DB XTR MSCI EUR COM 233051853 70,766 2,490,000 SH   SOLE NONE 1,802,238 0 687,762
FIFTH THIRD BANCORP COM COM 316773100 554 22,926 SH   SOLE NONE 0 0 22,926
FIFTH STREET FINANCE CORP COM COM 31678A103 142 29,174 SH   SOLE NONE 0 0 29,174
FIFTH STR SR FLOATNG RATE CO C COM 31679F101 118 14,502 SH   SOLE NONE 0 0 14,502
FIRST TR EXCH TRADED FD III HO COM 33739P871 502 15,704 SH   SOLE NONE 0 0 15,704
FIRST TR EXCH TRADED FD III HO COM 33739P889 1,246 58,336 SH   SOLE NONE 0 0 58,336
GILEAD SCIENCES INC COM COM 375558103 904 13,686 SH   SOLE NONE 34 0 13,652
HSBC HLDGS PLC SPON ADR NEW COM 404280406 945 21,276 SH   SOLE NONE 0 0 21,276
HONEYWELL INTL INC COM COM 438516106 386 2,932 SH   SOLE NONE 8 0 2,924
HORIZON TECHNOLOGY FIN CORP CO COM 44045A102 143 12,510 SH   SOLE NONE 0 0 12,510
INTEL CORP COM COM 458140100 572 16,107 SH   SOLE NONE 0 0 16,107
INTERNATIONAL BUSINESS MACHS C COM 459200101 947 6,163 SH   SOLE NONE 0 0 6,163
ISHARES TR CORE SP500 ETF COM 464287200 3,195 13,280 SH   SOLE NONE 0 0 13,280
ISHARES TR CORE US AGGBD ET COM 464287226 6,986 64,142 SH   SOLE NONE 0 0 64,142
ISHARES TR MSCI EMG MKT ETF COM 464287234 149,767 3,633,369 SH   SOLE NONE 2,632,512 0 1,000,857
ISHARES TR IBOXX INV CP ETF COM 464287242 30,942 259,950 SH   SOLE NONE 195,605 0 64,345
ISHARES TR SP 500 GRWT ETF COM 464287309 192,511 1,421,166 SH   SOLE NONE 1,015,915 0 405,251
ISHARES TR SP 500 VAL ETF COM 464287408 371 3,580 SH   SOLE NONE 0 0 3,580
ISHARES TR 7-10YR TR BD ETF COM 464287440 20,469 192,758 SH   SOLE NONE 145,682 0 47,076
ISHARES TR 1-3 YR TR BD ETF COM 464287457 4,783 56,582 SH   SOLE NONE 0 0 56,582
ISHARES TR MSCI EAFE ETF COM 464287465 98,643 1,511,999 SH   SOLE NONE 1,102,772 0 409,227
ISHARES TR RUS MID CAP ETF COM 464287499 4,279 22,719 SH   SOLE NONE 0 0 22,719
ISHARES TR CORE SP MCP ETF COM 464287507 1,495 8,720 SH   SOLE NONE 0 0 8,720
ISHARES TR RUSSELL 2000 ETF COM 464287655 495 3,598 SH   SOLE NONE 0 0 3,598
ISHARES TR JP MOR EM MK ETF COM 464288281 25,864 224,963 SH   SOLE NONE 168,799 0 56,164
ISHARES TR NATIONAL MUN ETF COM 464288414 913 8,336 SH   SOLE NONE 0 0 8,336
ISHARES TR IBOXX HI YD ETF COM 464288513 3,384 38,467 SH   SOLE NONE 0 0 38,467
ISHARES TR 1-3 YR CR BD ETF COM 464288646 1,595 15,155 SH   SOLE NONE 0 0 15,155
ISHARES TR SHRT TRS BD ETF COM 464288679 601 5,450 SH   SOLE NONE 0 0 5,450
ISHARES TR U.S. PFD STK ETF COM 464288687 2,249 57,840 SH   SOLE NONE 0 0 57,840
ISHARES TR U.S. MED DVC ETF COM 464288810 24,981 159,276 SH   SOLE NONE 118,542 0 40,734
ISHARES TR USA QUALITY FCTR COM 46432F339 3,729 50,933 SH   SOLE NONE 0 0 50,933
ISHARES TR EXPONEN TECHNO COM 46434V381 25,419 815,498 SH   SOLE NONE 605,349 0 210,149
JOHNSON JOHNSON COM COM 478160104 696 5,626 SH   SOLE NONE 0 0 5,626
KIMBERLY CLARK CORP COM COM 494368103 741 5,788 SH   SOLE NONE 0 0 5,788
KOHLS CORP COM COM 500255104 686 18,806 SH   SOLE NONE 26 0 18,780
MEDLEY CAP CORP COM COM 58503F106 111 17,341 SH   SOLE NONE 0 0 17,341
MERCK CO INC COM COM 58933Y105 742 11,670 SH   SOLE NONE 0 0 11,670
NOVARTIS A G SPONSORED ADR COM 66987V109 745 9,263 SH   SOLE NONE 0 0 9,263
NOVO-NORDISK A S ADR COM 670100205 884 21,764 SH   SOLE NONE 28 0 21,736
POWERSHARES QQQ TRUST UNIT SER COM 73935A104 125,796 907,617 SH   SOLE NONE 654,756 0 252,861
POWERSHARES ETF TRUST FINL PFD COM 73935X229 28,993 1,524,328 SH   SOLE NONE 1,134,786 0 389,542
POWERSHARES ETF TRUST DYNM LRG COM 73935X609 5,715 162,556 SH   SOLE NONE 0 0 162,556
POWERSHARES ETF TR II SP600 LO COM 73937B639 3,662 85,496 SH   SOLE NONE 0 0 85,496
POWERSHARES ETF TR II PWRSHS S COM 73937B654 14,421 364,064 SH   SOLE NONE 0 0 364,064
QUALCOMM INC COM COM 747525103 928 16,769 SH   SOLE NONE 48 0 16,721
SPDR INDEX SHS FDS EURO STOXX COM 78463X202 99,228 2,537,807 SH   SOLE NONE 1,849,190 0 688,617
SPDR INDEX SHS FDS MSCI ACWI E COM 78463X848 11,381 319,961 SH   SOLE NONE 0 0 319,961
SPDR SERIES TRUST BLMBRG BRC C COM 78464A359 20,741 425,461 SH   SOLE NONE 320,879 0 104,582
SSGA ACTIVE ETF TR BLKSTN GSOS COM 78467V608 33,383 703,088 SH   SOLE NONE 526,412 0 176,676
SSGA ACTIVE ETF TR SPDR TR TAC COM 78467V848 54,029 1,100,831 SH   SOLE NONE 824,964 0 275,867
SPDR SER TR BLOOMBERG SRT TR COM 78468R408 20,735 740,542 SH   SOLE NONE 551,190 0 189,352
SANOFI SPONSORED ADR COM 80105N105 951 18,950 SH   SOLE NONE 0 0 18,950
THL CR INC COM COM 872438106 134 13,477 SH   SOLE NONE 0 0 13,477
TOTAL S A SPONSORED ADR COM 89151E109 947 17,552 SH   SOLE NONE 0 0 17,552
VANGUARD BD INDEX FD INC TOTAL COM 921937835 626 7,701 SH   SOLE NONE 0 0 7,701
VANGUARD INDEX FDS SML CP GRW COM 922908595 24,645 172,642 SH   SOLE NONE 121,267 0 51,375
VANGUARD INDEX FDS SM CP VAL E COM 922908611 23,733 195,593 SH   SOLE NONE 139,372 0 56,221
VANGUARD INDEX FDS VALUE ETF COM 922908744 122,965 1,294,779 SH   SOLE NONE 919,138 0 375,641
VANGUARD INDEX FDS SMALL CP ET COM 922908751 24,298 182,469 SH   SOLE NONE 136,176 0 46,293
WAL-MART STORES INC COM COM 931142103 735 9,705 SH   SOLE NONE 31 0 9,674
AFLAC INC COM COM 001055102 836 11,384 SH   DFND 1 0 0 11,384
ATT INC COM COM 00206R102 507 13,170 SH   DFND 1 0 0 13,170
ADOBE SYS INC COM COM 00724F101 635 4,490 SH   DFND 1 0 0 4,490
AIR PRODS CHEMS INC COM COM 009158106 502 3,510 SH   DFND 1 0 0 3,510
ALLSTATE CORP COM COM 020002101 914 10,865 SH   DFND 1 0 0 10,865
ALTRIA GROUP INC COM COM 02209S103 597 8,455 SH   DFND 1 0 0 8,455
AMERICAN ELEC PWR INC COM COM 025537101 2,323 34,138 SH   DFND 1 0 0 34,138
AMPHENOL CORP NEW CL A COM 032095101 947 13,001 SH   DFND 1 0 0 13,001
BAY BANCORP INC COM COM 07203T106 169 22,217 SH   DFND 1 0 0 22,217
BERKSHIRE HATHAWAY INC DEL CL COM 084670702 837 4,941 SH   DFND 1 0 0 4,941
CMS ENERGY CORP COM COM 125896100 607 13,334 SH   DFND 1 0 0 13,334
CENTERPOINT ENERGY INC COM COM 15189T107 520 19,001 SH   DFND 1 0 0 19,001
CHEVRON CORP NEW COM COM 166764100 543 5,123 SH   DFND 1 0 0 5,123
CISCO SYS INC COM COM 17275R102 647 19,338 SH   DFND 1 0 0 19,338
CINTAS CORP COM COM 172908105 595 4,866 SH   DFND 1 0 0 4,866
CLOROX CO DEL COM COM 189054109 586 4,431 SH   DFND 1 0 0 4,431
COCA COLA CO COM COM 191216100 1,331 30,526 SH   DFND 1 0 0 30,526
CONSOLIDATED EDISON INC COM COM 209115104 495 6,190 SH   DFND 1 0 0 6,190
COSTCO WHSL CORP NEW COM COM 22160K105 516 3,020 SH   DFND 1 0 0 3,020
DBX ETF TR XTRAK MSCI EAFE COM 233051200 8,473 274,821 SH   DFND 1 0 0 274,821
DTE ENERGY CO COM COM 233331107 1,058 10,039 SH   DFND 1 0 0 10,039
DANAHER CORP DEL COM COM 235851102 648 7,828 SH   DFND 1 0 0 7,828
DISNEY WALT CO COM DISNEY COM 254687106 1,090 9,939 SH   DFND 1 0 0 9,939
ECOLAB INC COM COM 278865100 1,088 8,199 SH   DFND 1 0 0 8,199
EDISON INTL COM COM 281020107 616 7,820 SH   DFND 1 0 0 7,820
EQUITY RESIDENTIAL SH BEN INT COM 29476L107 488 7,516 SH   DFND 1 0 0 7,516
EVERSOURCE ENERGY COM COM 30040W108 934 15,595 SH   DFND 1 0 0 15,595
EXXON MOBIL CORP COM COM 30231G102 560 6,783 SH   DFND 1 0 0 6,783
FIDELITY NATL INFORMATION SV C COM 31620M106 671 8,070 SH   DFND 1 0 0 8,070
FIRST TR EXCHANGE TRADED FD CH COM 33733A102 338 9,852 SH   DFND 1 0 0 9,852
FIRST TR EXCHANGE TRADED FD DJ COM 33733E302 653 6,946 SH   DFND 1 0 0 6,946
FIRST TR BICK INDEX FD COM SHS COM 33733H107 306 11,962 SH   DFND 1 0 0 11,962
FIRST TR NASDAQ100 TECH INDE S COM 337345102 633 10,071 SH   DFND 1 0 0 10,071
FIRST TR EXCHANGE TRADED FD IN COM 33734X150 643 18,592 SH   DFND 1 0 0 18,592
FIRST TR EXCHANGE TRADED FD UT COM 33734X184 629 23,277 SH   DFND 1 0 0 23,277
FIRST TR EXCH TRD ALPHA FD I D COM 33737J174 323 5,944 SH   DFND 1 0 0 5,944
FIRST TR EXCH TRD ALPHA FD I G COM 33737J190 360 8,496 SH   DFND 1 0 0 8,496
FIRST TR EXCH TRD ALPHA FD I S COM 33737J232 355 7,330 SH   DFND 1 0 0 7,330
FIRST TR EXCHANGE TRADED FD NA COM 33738R860 675 26,339 SH   DFND 1 0 0 26,339
FISERV INC COM COM 337738108 1,195 9,978 SH   DFND 1 0 0 9,978
FORTIVE CORP COM COM 34959J108 840 13,264 SH   DFND 1 0 0 13,264
GALLAGHER ARTHUR J CO COM COM 363576109 619 10,807 SH   DFND 1 0 0 10,807
GENERAL ELECTRIC CO COM COM 369604103 827 29,244 SH   DFND 1 0 0 29,244
HARTFORD FINL SVCS GROUP INC C COM 416515104 526 10,722 SH   DFND 1 0 0 10,722
HERSHEY CO COM COM 427866108 1,200 11,209 SH   DFND 1 0 0 11,209
HOME DEPOT INC COM COM 437076102 562 3,581 SH   DFND 1 0 0 3,581
HONEYWELL INTL INC COM COM 438516106 1,138 8,653 SH   DFND 1 0 0 8,653
ILLINOIS TOOL WKS INC COM COM 452308109 690 5,024 SH   DFND 1 0 0 5,024
ISHARES TR CORE US AGGBD ET COM 464287226 4,762 43,722 SH   DFND 1 0 0 43,722
ISHARES TR IBOXX INV CP ETF COM 464287242 2,571 21,598 SH   DFND 1 0 0 21,598
ISHARES TR RUS 1000 GRW ETF COM 464287614 6,952 59,248 SH   DFND 1 0 0 59,248
ISHARES TR IBOXX HI YD ETF COM 464288513 2,033 23,105 SH   DFND 1 0 0 23,105
ISHARES TR USA QUALITY FCTR COM 46432F339 4,135 56,482 SH   DFND 1 0 0 56,482
JOHNSON JOHNSON COM COM 478160104 842 6,808 SH   DFND 1 0 0 6,808
KIMBERLY CLARK CORP COM COM 494368103 559 4,368 SH   DFND 1 0 0 4,368
LOCKHEED MARTIN CORP COM COM 539830109 546 2,012 SH   DFND 1 0 0 2,012
LOEWS CORP COM COM 540424108 1,247 27,242 SH   DFND 1 0 0 27,242
MARSH MCLENNAN COS INC COM COM 571748102 1,115 15,190 SH   DFND 1 0 0 15,190
MCCORMICK CO INC COM NON VTG COM 579780206 524 5,269 SH   DFND 1 0 0 5,269
MCDONALDS CORP COM COM 580135101 1,218 8,379 SH   DFND 1 0 0 8,379
MICROSOFT CORP COM COM 594918104 544 7,957 SH   DFND 1 0 0 7,957
NASDAQ INC COM COM 631103108 596 8,819 SH   DFND 1 0 0 8,819
NORTHROP GRUMMAN CORP COM COM 666807102 510 2,061 SH   DFND 1 0 0 2,061
ORACLE CORP COM COM 68389X105 514 11,404 SH   DFND 1 0 0 11,404
PPL CORP COM COM 69351T106 1,296 33,441 SH   DFND 1 0 0 33,441
PAYCHEX INC COM COM 704326107 596 10,424 SH   DFND 1 0 0 10,424
PEPSICO INC COM COM 713448108 936 8,286 SH   DFND 1 0 0 8,286
PFIZER INC COM COM 717081103 569 17,224 SH   DFND 1 0 0 17,224
PINNACLE WEST CAP CORP COM COM 723484101 566 6,683 SH   DFND 1 0 0 6,683
PROCTER AND GAMBLE CO COM COM 742718109 807 9,365 SH   DFND 1 0 0 9,365
PROGRESSIVE CORP OHIO COM COM 743315103 740 18,521 SH   DFND 1 0 0 18,521
REPUBLIC SVCS INC COM COM 760759100 2,130 33,985 SH   DFND 1 0 0 33,985
ROPER TECHNOLOGIES INC COM COM 776696106 684 3,090 SH   DFND 1 0 0 3,090
SPDR SP 500 ETF TR TR UNIT COM 78462F103 13,251 55,447 SH   DFND 1 0 0 55,447
SSGA ACTIVE ETF TR SPDR TR TAC COM 78467V848 2,578 52,530 SH   DFND 1 0 0 52,530
SEMPRA ENERGY COM COM 816851109 564 5,051 SH   DFND 1 0 0 5,051
SMUCKER J M CO COM NEW COM 832696405 511 4,094 SH   DFND 1 0 0 4,094
SOUTHERN CO COM COM 842587107 709 14,208 SH   DFND 1 0 0 14,208
3M CO COM COM 88579Y101 1,763 8,970 SH   DFND 1 0 0 8,970
TORCHMARK CORP COM COM 891027104 574 7,626 SH   DFND 1 0 0 7,626
TRAVELERS COMPANIES INC COM COM 89417E109 1,311 10,874 SH   DFND 1 0 0 10,874
UNITED TECHNOLOGIES CORP COM COM 913017109 1,130 9,356 SH   DFND 1 0 0 9,356
VANGUARD BD INDEX FD INC TOTAL COM 921937835 5,454 67,048 SH   DFND 1 0 0 67,048
VANGUARD INTL EQUITY INDEX F A COM 922042775 6,813 136,707 SH   DFND 1 0 0 136,707
VANGUARD INTL EQUITY INDEX F F COM 922042858 10,334 252,481 SH   DFND 1 0 0 252,481
VANGUARD INDEX FDS MID CAP ETF COM 922908629 12,914 91,970 SH   DFND 1 0 0 91,970
VANGUARD INDEX FDS VALUE ETF COM 922908744 14,481 152,480 SH   DFND 1 0 0 152,480
VANGUARD INDEX FDS SMALL CP ET COM 922908751 8,997 67,564 SH   DFND 1 0 0 67,564
WAL-MART STORES INC COM COM 931142103 650 8,579 SH   DFND 1 0 0 8,579
WALGREENS BOOTS ALLIANCE INC C COM 931427108 668 7,833 SH   DFND 1 0 0 7,833
WASTE MGMT INC DEL COM COM 94106L109 2,008 27,902 SH   DFND 1 0 0 27,902
XCEL ENERGY INC COM COM 98389B100 811 17,802 SH   DFND 1 0 0 17,802
YUM BRANDS INC COM COM 988498101 1,004 14,566 SH   DFND 1 0 0 14,566
AON PLC SHS CL A COM G0408V102 748 6,024 SH   DFND 1 0 0 6,024
CHUBB LIMITED COM COM H1467J104 2,285 15,715 SH   DFND 1 0 0 15,715
iShares MSCI EAFE Index Fund COM 464287465 48,930 750,000 SH Call SOLE NONE 0 0 750,000
SPDR INDEX SHS FDS EURO STOXX COM 78463X202 23,460 600,000 SH Call SOLE NONE 0 0 600,000
ISHARES TR 20 YR TR BD ETF COM 464287432 18,689 150,000 SH Call SOLE NONE 0 0 150,000
iPath S&P 500 VIX ST Futures ETN COM 06740Q252 19,140 1,500,000 SH Call SOLE NONE 0 0 1,500,000
ISHARES TR MSCI EMG MKT ETF COM 464287234 20,695 500,000 SH Put SOLE NONE 0 0 500,000
POWERSHARES QQQ TRUST UNIT SER COM 73935A104 48,174 350,000 SH Put SOLE NONE 0 0 350,000