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
ALPS ETF TR ALERIAN MLP 00162Q866 1,796 93,695 SH   SOLE   91,595 0 2,100
ALLSTATE CORP COM 020002101 387 6,302 SH   OTR   6,302 0 0
APPLE INC COM 037833100 232 2,300 SH   OTR   2,300 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 621 3 SH   OTR   3 0 0
DU PONT EI DE NEMOURS & CO COM 263534109 388 5,400 SH   OTR   5,400 0 0
EXXON MOBIL CORP COM 30231G102 1,902 20,228 SH   OTR   20,228 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 3,474 417,040 SH   OTR   2,577 0 414,463
FIRST TR EXCHANGE TRADED FD SENIOR LN FD 33738D309 3,842 78,670 SH   SOLE   78,670 0 0
GENERAL ELECTRIC CO COM 369604103 241 9,415 SH   OTR   9,415 0 0
RYDEX ETF TRUST GUG S&P500 PU VA 78355W304 1,203 22,750 SH   SOLE   20,025 0 2,725
INTEL CORP COM 458140100 230 6,600 SH   OTR   6,600 0 0
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 1,441 41,940 SH   SOLE   41,940 0 0
ISHARES 1-3 YR CR BD ETF 464288646 4,334 41,168 SH   SOLE   40,668 0 500
ISHARES TR 1-3 YR TR BD ETF 464287457 1,442 17,060 SH   SOLE   17,060 0 0
ISHARES 3-7 YR TR BD ETF 464288661 2,356 19,420 SH   SOLE   19,420 0 0
ISHARES AGENCY BOND ETF 464288166 1,488 13,250 SH   SOLE   13,250 0 0
ISHARES MBS ETF 464288588 1,715 15,863 SH   SOLE   15,863 0 0
ISHARES SHRT TRS BD ETF 464288679 2,412 21,875 SH   SOLE   21,875 0 0
ISHARES INC CORE MSCI EMKT 46434G103 269 5,381 SH   SOLE   5,381 0 0
ISHARES TR CORE S&P MCP ETF 464287507 119,940 877,138 SH   SOLE   862,193 0 14,945
ISHARES TR CORE S&P500 ETF 464287200 237,808 1,199,474 SH   SOLE   1,156,534 0 42,940
ISHARES TR CORE S&P SCP ETF 464287804 96,516 925,369 SH   SOLE   910,894 0 14,475
ISHARES TR CORE US AGGBD ET 464287226 2,505 22,960 SH   SOLE   22,960 0 0
ISHARES TR FLTG RATE BD ETF 46429B655 48,197 948,209 SH   SOLE   928,639 0 19,570
ISHARES GOLD TRUST ISHARES 464285105 1,604 137,135 SH   SOLE   137,135 0 0
ISHARES TR IBOXX INV CP ETF 464287242 663 5,610 SH   SOLE   5,610 0 0
ISHARES INTL TREA BD ETF 464288117 521 5,245 SH   SOLE   5,245 0 0
ISHARES TR MSCI EAFE ETF 464287465 85,320 1,330,630 SH   SOLE   1,302,435 0 28,195
ISHARES EAFE SML CP ETF 464288273 599 12,352 SH   SOLE   11,897 0 455
ISHARES EAFE VALUE ETF 464288877 2,643 48,345 SH   SOLE   47,045 0 1,300
ISHARES TR MSCI EMG MKT ETF 464287234 835 20,083 SH   SOLE   20,083 0 0
ISHARES TR RUS 1000 GRW ETF 464287614 1,764 19,255 SH   SOLE   19,255 0 0
ISHARES TR RUS 2000 GRW ETF 464287648 422 3,255 SH   SOLE   3,255 0 0
ISHARES TR RUS 2000 VAL ETF 464287630 273 2,915 SH   SOLE   2,915 0 0
ISHARES MICRO-CAP ETF 464288869 8,043 115,698 SH   SOLE   112,948 0 2,750
ISHARES TR RUS MD CP GR ETF 464287481 632 7,150 SH   SOLE   7,150 0 0
ISHARES TR RUS MDCP VAL ETF 464287473 368 5,250 SH   SOLE   5,250 0 0
ISHARES TR S&P MC 400GR ETF 464287606 3,877 25,601 SH   SOLE   25,601 0 0
ISHARES TR S&P MC 400VL ETF 464287705 3,807 31,646 SH   SOLE   31,646 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 2,891 27,062 SH   SOLE   26,437 0 625
ISHARES TR S&P 500 VAL ETF 464287408 13,589 150,873 SH   SOLE   148,273 0 2,600
ISHARES TR SP SMCP600GR ETF 464287887 3,066 27,239 SH   SOLE   26,744 0 495
ISHARES TR SP SMCP600VL ETF 464287879 3,007 28,030 SH   SOLE   27,455 0 575
ISHARES NY AMTFRE MU ETF 464288323 1,496 13,485 SH   SOLE   9,065 0 4,420
ISHARES TR TIPS BD ETF 464287176 6,619 59,058 SH   SOLE   56,558 0 2,500
JOHNSON & JOHNSON COM 478160104 552 5,179 SH   OTR   5,179 0 0
JPMORGAN CHASE & CO COM 46625H100 814 13,507 SH   OTR   13,507 0 0
KIMBERLY CLARK CORP COM 494368103 407 3,785 SH   OTR   3,785 0 0
LOWES COS INC COM 548661107 410 7,740 SH   OTR   7,740 0 0
MERRIMACK PHARMACEUTICALS IN COM 590328100 154 17,532 SH   OTR   17,532 0 0
MICROSOFT CORP COM 594918104 324 6,989 SH   OTR   6,989 0 0
PAYCHEX INC COM 704326107 3,774 85,376 SH   OTR   85,376 0 0
PEPSICO INC COM 713448108 337 3,619 SH   OTR   3,619 0 0
PFIZER INC COM 717081103 501 16,959 SH   OTR   16,959 0 0
PIMCO ETF TR 1-5 US TIP IDX 72201R205 1,233 23,466 SH   SOLE   23,466 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 7,046 303,465 SH   SOLE   301,315 0 2,150
POWERSHARES DB G10 CURCY HAR COM UT BEN INT 73935Y102 3,302 128,500 SH   SOLE   128,500 0 0
POWERSHARES GLOBAL ETF TRUST NY MUNI BD ETF 73936T458 267 11,025 SH   SOLE   11,025 0 0
POWERSHARES ETF TRUST II INTL CORP BOND 73936Q835 237 8,140 SH   SOLE   8,140 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 543 22,365 SH   SOLE   19,015 0 3,350
PRAXAIR INC COM 74005P104 230 1,780 SH   OTR   1,780 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 101,865 517,031 SH   SOLE   508,656 0 8,375
SCHLUMBERGER LTD COM 806857108 298 2,931 SH   OTR   2,931 0 0
SCHWAB STRATEGIC TR EMRG MKTEQ ETF 808524706 802 31,577 SH   SOLE   31,577 0 0
SCHWAB STRATEGIC TR INTL EQTY ETF 808524805 2,482 80,004 SH   SOLE   80,004 0 0
SCHWAB STRATEGIC TR INTL SCEQT ETF 808524888 387 12,337 SH   SOLE   12,337 0 0
SCHWAB STRATEGIC TR US AGGREGATE B 808524839 2,725 52,631 SH   SOLE   52,631 0 0
SCHWAB STRATEGIC TR US LRG CAP ETF 808524201 2,078 44,217 SH   SOLE   44,217 0 0
SCHWAB STRATEGIC TR US LCAP VA ETF 808524409 380 8,919 SH   SOLE   8,919 0 0
SCHWAB STRATEGIC TR US MID-CAP ETF 808524508 645 16,657 SH   SOLE   16,657 0 0
SCHWAB STRATEGIC TR US REIT ETF 808524847 408 11,984 SH   SOLE   11,984 0 0
SCHWAB STRATEGIC TR US SML CAP ETF 808524607 609 11,846 SH   SOLE   11,846 0 0
SCHWAB STRATEGIC TR US TIPS ETF 808524870 970 17,896 SH   SOLE   17,896 0 0
SPDR SER TR SHT TRM HGH YLD 78468R408 500 16,700 SH   SOLE   16,700 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 15,776 380,976 SH   SOLE   374,791 0 6,185
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 3,301 19,409 SH   SOLE   19,409 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 23,826 298,574 SH   SOLE   293,869 0 4,705
SPDR GOLD TRUST GOLD SHS 78463V107 1,855 15,965 SH   SOLE   15,965 0 0
SPDR SERIES TRUST NUVN BR SHT MUNI 78464A425 631 25,852 SH   SOLE   25,852 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 3,755 78,268 SH   SOLE   75,253 0 3,015
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 1,856 38,100 SH   SOLE   38,100 0 0
SPDR INDEX SHS FDS S&P INTL SMLCP 78463X871 3,294 100,755 SH   SOLE   97,155 0 3,600
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 739 2,965 SH   SOLE   2,965 0 0
UBS AG JERSEY BRH ALERIAN INFRST 902641646 35,799 783,016 SH   SOLE   769,991 0 13,025
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 9,021 226,955 SH   SOLE   224,705 0 2,250
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 6,309 151,256 SH   SOLE   145,241 0 6,015
VANGUARD INDEX FDS LARGE CAP ETF 922908637 5,078 56,130 SH   SOLE   48,805 0 7,325
VANGUARD INDEX FDS MID CAP ETF 922908629 1,940 16,536 SH   SOLE   15,361 0 1,175
VANGUARD INDEX FDS REIT ETF 922908553 2,322 32,321 SH   SOLE   32,011 0 310
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 2,203 27,515 SH   SOLE   27,515 0 0
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 46,207 935,933 SH   SOLE   919,458 0 16,475
VANGUARD INDEX FDS SMALL CP ETF 922908751 691 6,249 SH   SOLE   4,424 0 1,825
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 31,320 382,273 SH   SOLE   365,753 0 16,520
VANGUARD INDEX FDS TOTAL STK MKT 922908769 328 3,235 SH   SOLE   3,235 0 0