Subject: Re: Response to request for financials
From: "James Bulger" <[email-masked]>
To: Lindsay Wright[琳熙] <[email-masked]>
Cc: "Michael Leonard" <[email-masked]>, "Devon Archer" <[email-masked]>, <[email-masked]>, "Hunter Biden" <[email-masked]>, "Michael Lin" <[email-masked]>,王露一[Wang Luyi] <[email-masked]>
Date: Fri, 25 Jul 2014 06:13:49 -0500

All
Monday morning is tough for me could we do the call on Tuesday morning at
8:00 pm Beijing time? That's 8:00am NYC time Tuesday.
Lindsay I spoke to Devon his team has another financial document to send
over this morning
Thanks
Jimmy

On Thursday, July 24, 2014, Lindsay Wright[琳熙] <[email-masked]>
wrote:

>  Thanks will review.  Can you also send a forecast as the well.
>
>  Regards
>
>
>  Sent from Samsung Mobile
>
>
>
> -------- Original message --------
> From: Michael Leonard <[email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>
> Date: 2014/07/25 11:37 (GMT+08:00)
> To: Devon Archer <[email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>
> Cc: "Lindsay Wright[琳熙]" <[email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,
> [email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>,Hunter Biden <
> [email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,Michael Lin <
> [email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,James Bulger
> <[email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,"王露一[Wang
> Luyi]" <[email-masked]
> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>
> Subject: Re: Response to request for financials
>
>
>  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]
> <javascript:_e(%7B%7D,'cvml',[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]
>> <javascript:_e(%7B%7D,'cvml',[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]
>> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>
>> Date: 2014/07/24 07:13 (GMT+08:00)
>> To: "Lindsay Wright[琳熙]" <[email-masked]
>> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>
>> Cc: Devon Archer <[email-masked]
>> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,
>> [email-masked]
>> <javascript:_e(%7B%7D,'cvml',[email-masked]');>,Hunter Biden <
>> [email-masked]
>> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,Michael Lin
>> <[email-masked]
>> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,James
>> Bulger <[email-masked]
>> <javascript:_e(%7B%7D,'cvml',[email-masked]');>>,"王露一[Wang
>> Luyi]" <[email-masked]
>> <javascript:_e(%7B%7D,'cvml',[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
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>>> 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: 781-454-9227
>
> ------------------------------
> 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.
>

-- 
James J. Bulger
Chairman
Thornton Group LLC
14 Beacon Street, Suite 804A
Boston, MA 02108
Office tel: 617.248.944