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Cara Peck Wells Fargo Funds Management EVP & Head of Retail Distribution FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 1 Generations of Opportunity Why Do Their Differences Matter? FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 2 Traditionalists High-touch customer service, relevance, and respect Be simple, but not insulting Use images or photos that resemble them Acknowledge their wisdom in life Keep others in the picture Be active in the community FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 3 Boomers Face-to-face contact preferred for Older Boomers Reach Younger Boomers in social networks and online communities Use story-telling techniques to relate to their experiences Increasing reliance on the Web to gather information Educate them about retirement planning because Boomers view Social Security as a main source of funds. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 4 Generation X Great Xpectations for this Generation AVERAGE ASSET LEVEL Area of Greatest Focus for Wealth Management Services High Opportunity, Low Competition 55-64 65-74 45-54 75-84 84+ 35-44 25-34 The Future Mass Affluent AGE Source: Gen-X Professionals, Financial Services, and the Web, Celent Communications, FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 5 Generation X Web Is Key 50% 47% 39% 40% 36% 32% 33% 30% 23% 20% 17% 11% 10% 21% 13% 9% 6% 6% 5% 2% 0% In Person Phone Web First Second Email Live Online Chat Third Source: Gen-X Professionals, Financial Services, and the Web, Celent Communications. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 6 Why Target the Millennials Gen Y Incomes Will Outpace Boomers’ by 2018 Total Annual Income (in trillions) $4.00 $3.51 $3.39 $3.25 $3.00 $2.77 $2.28 $2.00 $1.43 Millennials $1.00 Baby Boomers $0.00 2008 2013 2018 Source: Gen Y Acquisition Strategies: How to Woo, Win, and Keep Them, Javelin Strategy & Research, February 2009. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 7 How to Target the Millennials Potential Sources of Financial Advice 49 Parent/relatives 33 Friends/coworkers 24 Financial rep 18 Financial planner They spend the most time online. Focus on Internet channels to reach this group. 17 Search engine Broker 10 Accountant 10 Saving for the future and understanding investments are the top two financial topics that interest Millennials. 9 Online source Engage parents and friends of Millennials, as they often turn to these two groups for financial advice. 6 Online chat 5 Insurance agent 4 Attorney 0 10 20 30 40 50 Source: Developing Financial Relationships with Generation Y, Synergistics Research, October 2008. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 8 Disclosure Statements Carefully consider a fund's investment objectives, risks, charges, and expenses before investing. For a current prospectus, containing this and other information, call 1-888-877-9275 or visit www.wellsfargo.com/advantagefunds. Read it carefully before investing. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Advantage Funds®. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company. 117215 07-09 FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 9