CLS Global Diversified Equity

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The Fund’s total annual operating expenses including underlying fund expenses for the CLS Global Diversified Equity Fund is 1.41%, respectively. Performance results reflect a contractual fee waiver by the investment adviser as described in the prospectus of the fund. For performance information current to the most recent month-end, please call toll-free 1-866-811-0225.

The AdvisorOne CLS Global Diversified Equity Fund’s portfolio is invested to maintain risk levels equal to approximately 100% of a diversified stock portfolio consisting of 60% of the Russell 3000® Index and 40% of the MSCI ACWI (ex-US). CLS Investments, LLC (CLS), the Fund’s investment advisor, seeks to control risk within a given range by estimating the cumulative risk of the Fund’s investments and keeping it near that of the blended benchmark. CLS’s assessment of the risk of an asset is based primarily on its volatility and its performance during down periods.

CLS actively manages the Fund’s investments by increasing or decreasing the Fund’s investment in particular asset classes, sectors, regions and countries, or in a particular security, based on its assessment of the opportunities for return relative to the risk using fundamental and technical analysis. Because of the varying levels of risk amongst equity and bond asset classes, the percent allocated to equities and bonds will vary depending on which asset classes are selected for the portfolio.

YOU MAY LOSE MONEY BY INVESTING IN THE FUND.

Portfolio Managers

CLS utilizes a team approach for management of the Fund and from the team, the Fund is assigned co-portfolio managers who are primarily responsible for the day-to-day management of the Fund’s portfolio. Rusty Vanneman, CFA, Chief Investment Officer of CLS, and Paula Wieck, CFA, Manager of Investment Research of CLS, share responsibility for the day-to-day management of the Fund as Co-Portfolio Managers. Mr. Vanneman has served as Co-Portfolio Manager of the Fund since February 2013. Ms. Wieck has been Co-Portfolio Manager of the Fund since January 2013.

There is no guarantee that any investment strategy will achieve its objectives, generate profits or avoid losses.

CLS Global Diversified is a fund of funds meaning it invests in underlying mutual funds and exchange-traded funds (“Underlying Funds”). As a result, the Fund indirectly bears investment management fees of the underlying funds in addition to the fees and expenses of the Fund. In some instances it may be less expensive for an investor to invest in the underlying funds directly. There is also a risk that investment advisers of those underlying funds may make investment decisions that are detrimental to the performance of the Fund. Investments in underlying funds that own small- and mid-capitalization companies may be more vulnerable than larger, more established organizations. Investments in underlying funds that invest in foreign equity and debt securities could subject the Fund to greater risks including, currency fluctuation, economic conditions, and different governmental and accounting standards.