Subject: Re: Response to request for financials
From: "Michael Leonard" <[email-masked]>
To: "Devon Archer" <[email-masked]>
Cc: "Lindsay Wright[琳熙]" <[email-masked]>, <[email-masked]>, "Hunter Biden" <[email-masked]>, "Michael Lin" <[email-masked]>, "James Bulger" <[email-masked]>,"王露一[Wang Luyi]" <[email-masked]>
Date: Thu, 24 Jul 2014 23:37:09 -0400

Lindsay,

Per Devon's request attached please find the Burnham business plan. This
better explains Burnham's history and its plans going forward. We look
forward to discussing how Harvest could fit into and help establish the
combined brand.

Also, if Monday morning works as a time for a conference call please let me
know.

Best,
Mike

On Wed, Jul 23, 2014 at 9:14 PM, Devon Archer <[email-masked]>
wrote:

>  Works for me.
>
> Devon Archer
> 646 436 3745
>
> On Jul 23, 2014, at 8:44 PM, Lindsay Wright[琳熙] <
> [email-masked]> wrote:
>
>  Michael
>
> I think we should schedule for Monday as opposed to Friday night.
>
> Let me connect with Henry's diary.
>
> Regards
>
>
>  Sent from Samsung Mobile
>
>
>
> -------- Original message --------
> From: Michael Leonard <[email-masked]>
> Date: 2014/07/24 07:13 (GMT+08:00)
> To: "Lindsay Wright[琳熙]" <[email-masked]>
> Cc: Devon Archer <[email-masked]>,[email-masked],Hunter
> Biden <[email-masked]>,Michael Lin <[email-masked]>,James
> Bulger <[email-masked]>,"王露一[Wang Luyi]" <[email-masked]>
> Subject: Fwd: FW: Response to request for financials
>
>
> Lindsay,
>
> I spoke to Devon. He expects to have the business plan to you your
> Thursday night. Therefore, Devon proposed we postpone the conference call
> 24 hours to 8PM your Friday night (8AM New York time)? Does that time work
> for you?
>
> If not please let us know a time that is convenient for you.
>
> Best,
> Mike
>
>
>
> On Tuesday, July 22, 2014, Lindsay Wright[琳熙] <[email-masked]>
> wrote:
>
>>  Devon,
>>
>>
>>
>> Thanks for this – let me review and looking forward to your receiving
>> your business plan in due course.
>>
>>
>>
>> Regards
>>
>>
>>
>> *From:* Devon Archer [mailto:[email-masked]]
>> *Sent:* Tuesday, July 22, 2014 8:42 AM
>> *To:* Lindsay Wright[琳熙]; [email-masked]
>> *Cc:* Hunter Biden; Michael Lin; James Bulger; Leonard Mike
>> *Subject:* Fwd: FW: Response to request for financials
>>
>>
>>
>> Lindsay,
>>
>> Please find attached the initial data dump for review which includes
>> recent financial background of the three entities in play including audited
>> financials and recent appraisals (note Valor appraisal I'll have to you
>> tomorrow).  I have included a simple one pager org chart of pre and post
>> transaction (#9) to guide you through the financial reports.
>>
>>
>>
>> I am working on a custom abbreviated business plan catered to our newly
>> contemplated rollout group (present company) which I will have to you
>> tomorrow.  This will include ownership and controls pre and post as
>> contemplated.
>>
>>
>>
>> Please let me know what questions we can be working on as they come up or
>> any suggestions that may improve our approach.
>>
>>
>>
>> Very Best,
>>
>> Devon
>>
>>
>>  ------------------------------
>>
>> *From:* [[email-masked]]
>> *Sent:* Monday, July 21, 2014 7:01 PM
>> *To:* Devon Archer
>> *Cc:* James Bulger; Andrew Godfrey
>> *Subject:* Response to request for financials
>>
>> Devon,
>>
>>
>>
>> You requested financial information about Burnham and affiliates, and
>> about Wealth Assurance Holdings and affiliates, in connection with the
>> proposed combination of the businesses. Attached are:
>>
>>
>>
>>  1. 2013 audited financials - Wealth Assurance Holdings Ltd (PwC)
>>
>> 2. 2013 audited financials - Wealth Assurance AG (PwC)
>>
>> 3. 2013 audited financials - Valorlife (untranslated - KPMG)
>>
>> 4. Summary of 2013 audited financial statements (Deloitte)
>>
>> 5. March 2014 appraisal on Wealth Assurance (Ernst and Young)
>>
>> 6. 2013 audited financials - Burnham Securities (Grant Thornton)
>>
>> 7. 2013 audited financials - Burnham Asset Management (Grant Thornton)
>>
>> 8. 2013 audited financials - Mid America Financial Services Inc
>>
>> 9. Org charts - pre and post transaction
>>
>>
>>
>> We will provide the Valorlife appraisal tomorrow.
>>
>>
>>
>> You also requested that we summarize the proposed combination.
>>
>>
>>
>> The structure of the proposed combination is a straightforward tuck-under
>> of Burnham Financial Group as a 100% owned subsidiary of Wealth Assurance
>> Holdings, the publicly quoted holding company.
>>
>>
>>
>> The Wealth Assurance name would be retired in favor of Burnham & Co.,
>> which would be adopted as the new name of the publicly quoted holding
>> company.
>>
>>
>>
>> The holding company would have three drop down subsidiaries consisting of
>> operations in Securities, Asset Management, and Wealth Management/Specialty
>> Insurance.
>>
>>
>>
>> The business model is intended to combine the favorable asset gathering
>> characteristics of insurance, with the stable fee income characteristics of
>> asset management, and the cross-border transactional capabilities of
>> investment banking/capital markets.
>>
>>
>>
>> The model is very much an emulation of the Guggenheim structure which has
>> successfully built a $210 billion business.
>>
>>
>>
>> Hope this responds to what you requested.
>>
>>
>>
>> Jason
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>> ------------------------------
>> 敬告：
>>
>>
>> 在享有法律赋予的权利或者保护不应予以纰漏的前提下，本邮件内容所载或其随附的信息可能属于保密信息，只供指定接收方使用。如阁下并非本邮件指明的接收方，请将阁下拥有的本邮件及其所有备份(包括所有附件)删除及销毁，并通知发件方错误收到本邮件。在此特提请阁下注意不得阅览或分发本邮件，并不得基于对本邮件采取任何行动。
>>
>>
>> NOTICE TO RECIPIENT(S):
>> The information contained in and accompanying this communication may be
>> confidential, subject to legal privilege, or otherwise protected from
>> disclosure, and is intended solely for the use of the intended
>> recipient(s). If you are not the intended recipient of this communication,
>> please delete and destroy all copies (including any attachments) in your
>> possession, notify the sender that you have received this communication in
>> error, and note that any review or dissemination of, or the taking of any
>> action in reliance on, this communication is expressly prohibited.
>>
>
>
> --
> Michael R. Leonard
> Vice President, Operations Department
> Thornton Group LLC
> 14 Beacon Street, Suite 804A
> Boston, MA 02108
> Office: 617-248-9440
> Mobile: 781-454-9227
>
> ------------------------------
> 敬告：
>
>
> 在享有法律赋予的权利或者保护不应予以纰漏的前提下，本邮件内容所载或其随附的信息可能属于保密信息，只供指定接收方使用。如阁下并非本邮件指明的接收方，请将阁下拥有的本邮件及其所有备份(包括所有附件)删除及销毁，并通知发件方错误收到本邮件。在此特提请阁下注意不得阅览或分发本邮件，并不得基于对本邮件采取任何行动。
>
>
> NOTICE TO RECIPIENT(S):
> The information contained in and accompanying this communication may be
> confidential, subject to legal privilege, or otherwise protected from
> disclosure, and is intended solely for the use of the intended
> recipient(s). If you are not the intended recipient of this communication,
> please delete and destroy all copies (including any attachments) in your
> possession, notify the sender that you have received this communication in
> error, and note that any review or dissemination of, or the taking of any
> action in reliance on, this communication is expressly prohibited.
>
>

-- 
Michael R. Leonard
Vice President, Operations Department
Thornton Group LLC
14 Beacon Street, Suite 804A
Boston, MA 02108
Office: 617-248-9440
Mobile: 781-454-922