Mid-Year Outlook 2009

Back in December LPL Financial Research published their outlook on how the markets would forge ahead, falter, or sharply rebound. LPL Financial's most likely scenario, the base case, has proven to be on track. But what can we expect for the latter of 2009? Will the base case unfold, or are there factors that could derail it? With six months of experience behind us, we now offer you our perspective on how our base case is tracking, and what new opportunities and challenges lie ahead.

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Securities, fee-based, and asset management services offered through LPL Financial, member FINRA/ SIPC, America's No. 1 independent brokerage firm.* Trust services offered through The Private Trust Company N.A., an affiliate of LPL Financial. *Based on revenues, as reported by Financial Planning magazine, June 1996-2009.

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