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
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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
AFLAC Inc COM 1055102 4,114 251 SH   SOLE   0 0 4,114
ALPS Alerian MLP ETF ALERIAN MLP 00162Q866 500,649 8,771 SH   SOLE   0 0 500,649
Altria Group Inc. COM 02209S103 216,819 10,683 SH   SOLE   0 0 216,819
American Electric Power Co Inc. COM 25537101 9,464 575 SH   SOLE   0 0 9,464
American Express Co. COM 25816109 7,000 651 SH   SOLE   0 0 7,000
American Realty Capital Properties, Inc. COM 02917T104 1,808,201 16,364 SH   SOLE   0 0 1,808,201
AmeriGas Partners LP UNIT L P INT 30975106 202,392 9,699 SH   SOLE   0 0 202,392
Ameriprise Financial, Inc. COM 03076C106 2,100 278 SH   SOLE   0 0 2,100
Apple, Inc. COM 37833100 33,166 3,661 SH   SOLE   0 0 33,166
ARC Healthcare Trust Inc. COM 02917R108 727,809 8,661 SH   SOLE   0 0 727,809
ARC NY Recovery REIT CALL 64976L109 957,542 10,140 SH   SOLE   0 0 957,542
AT&T, Inc. COM 00206R102 50,919 1,710 SH   SOLE   0 0 50,919
Baxter International COM 71813109 3,026 222 SH   SOLE   0 0 3,026
Berkshire Hathaway B CL B NEW 84670702 2,101 315 SH   SOLE   0 0 2,101
Blackrock Inc COM 09247X101 2,514 899 SH   SOLE   0 0 2,514
BlackRock MuniYield PA COM 09255G107 37,970 544 SH   SOLE   0 0 37,970
BP PLC SPONSORED ADR 55622104 7,080 270 SH   SOLE   0 0 7,080
Bristol-Myers Squibb Co. COM 110122108 12,571 742 SH   SOLE   0 0 12,571
Buckeye Partners, L.P. UNIT LTD PARTN 118230101 15,093 1,142 SH   SOLE   0 0 15,093
Calamos Convertible & High Income Fd COM SHS 12811P108 200,017 2,766 SH   SOLE   0 0 200,017
Calamos Convertible Opprtnty Fund SH BEN INT 128117108 36,290 466 SH   SOLE   0 0 36,290
Calamos Strategic Total Return Fund COM SH BEN INT 128125101 533,826 6,107 SH   SOLE   0 0 533,826
CBS Corporation CL B 124857202 6,365 352 SH   SOLE   0 0 6,365
Chevron Corporation COM 166764100 11,551 1,296 SH   SOLE   0 0 11,551
Chubb Corp. COM 171232101 2,168 224 SH   SOLE   0 0 2,168
Coca-Cola Company COM 191216100 12,926 546 SH   SOLE   0 0 12,926
Comcast Corp Cl A CL A 20030N101 9,597 557 SH   SOLE   0 0 9,597
ConocoPhillips COM 20825C104 3,715 257 SH   SOLE   0 0 3,715
Customers Bancorp, Inc. COM 23204G100 294,637 5,734 SH   SOLE   0 0 294,637
Danaher Corp COM 235851102 28,441 2,438 SH   SOLE   0 0 28,441
DCP Midstream Partners LP COM UT LTD PTN 23311P100 54,555 2,478 SH   SOLE   0 0 54,555
Dentsply Intl Inc COM 249030107 46,646 2,485 SH   SOLE   0 0 46,646
E.I. du Pont de Nemours & Co. COM 263534109 3,480 257 SH   SOLE   0 0 3,480
Eaton Vance Enhanced Equity Income II COM 278277108 16,300 225 SH   SOLE   0 0 16,300
Enbridge Energy Management LLC SHS UNITS LLI 29250X103 43,145 1,674 SH   SOLE   0 0 43,145
Enbridge Energy Partners LP COM 29250R106 6,020 240 SH   SOLE   0 0 6,020
Enterprise Products Partners LP COM 293792107 201,116 7,264 SH   SOLE   0 0 201,116
Exxon Mobil Corporation COM 30231G102 27,030 2,499 SH   SOLE   0 0 27,030
Fiduciary-Claymore MLP Oppty Fund COM 31647Q106 51,177 1,337 SH   SOLE   0 0 51,177
Financial Sector Spdr Tr SBI INT_FINL 81369Y605 12,661 313 SH   SOLE   0 0 12,661
First Niagara Financial Group Inc. COM 33582V207 8,120 219 SH   SOLE   0 0 8,120
General Electric Co. COM 369604103 65,791 1,663 SH   SOLE   0 0 65,791
Genuine Parts Company COM 372460105 7,426 791 SH   SOLE   0 0 7,426
Guggenheim Enhanced Short Duration Bond GUG ENH SHT DUR 18383M654 108,523 5,417 SH   SOLE   0 0 108,523
Intl Business Mach Corp. COM 459200101 5,491 881 SH   SOLE   0 0 5,491
Ishares Barclays 1-3 Year Credit Bond Barclys 1-3Yr Cr 464288646 2,761 290 SH   SOLE   0 0 2,761
iShares Russell 1000 Growth RUSSELL1000GRW 464287614 15,830 1,514 SH   SOLE   0 0 15,830
iShares Russell 2000 RUSSELL 2000 464287655 4,204 503 SH   SOLE   0 0 4,204
iShares Russell 2000 Value RUS 2000 VAL EFT 464287630 2,297 234 SH   SOLE   0 0 2,297
iShares Russell Midcap RUSSELL MIDCAP 464287499 4,846 810 SH   SOLE   0 0 4,846
iShares Russell Midcap Growth RUSSELL MCP GR 464287481 9,275 865 SH   SOLE   0 0 9,275
iShares Russell Midcap Value RUSSELL MCP VL 464287473 10,023 739 SH   SOLE   0 0 10,023
iShares S&P 500 S&P 500 INDEX 464287200 7,322 1,515 SH   SOLE   0 0 7,322
Johnson & Johnson COM 478160104 27,394 2,865 SH   SOLE   0 0 27,394
JP Morgan Chase & Co. COM 46625H100 5,591 350 SH   SOLE   0 0 5,591
Kinder Morgan Inc. COM 49456B101 734,762 31,088 SH   SOLE   0 0 734,762
M & T Bank Corp COM 55261F104 5,410 680 SH   SOLE   0 0 5,410
Magellan Midstream Partners LP COM UNIT RP LP 559080106 32,000 2,645 SH   SOLE   0 0 32,000
MarkWest Energy Partners L.P. UNIT LTD PARTN 570759100 175,583 11,797 SH   SOLE   0 0 175,583
McDonald's Corporation COM 580135101 2,361 221 SH   SOLE   0 0 2,361
Merck & Co., Inc. COM 58933Y105 6,603 375 SH   SOLE   0 0 6,603
Mercury General Corporation COM 589400100 7,470 423 SH   SOLE   0 0 7,470
Microsoft Corp. COM 594918104 15,679 728 SH   SOLE   0 0 15,679
NBT Bancorp Inc COM 628778102 32,567 856 SH   SOLE   0 0 32,567
NextEra Energy Inc. COM 65339F101 3,080 327 SH   SOLE   0 0 3,080
NFJ Div, Int & Prem Strategy Fund COM SHS 65337H109 19,655 314 SH   SOLE   0 0 19,655
Norfolk Southern Corporation COM 655844108 2,559 281 SH   SOLE   0 0 2,559
Omnicom Group COM 681919106 3,099 240 SH   SOLE   0 0 3,099
Oracle Corp. COM 68389X105 11,719 527 SH   SOLE   0 0 11,719
People's United Financial Inc. COM 712704105 32,568 494 SH   SOLE   0 0 32,568
Pepsico, Inc. COM 713448108 37,807 3,575 SH   SOLE   0 0 37,807
Pfizer, Inc. COM 717081103 18,017 561 SH   SOLE   0 0 18,017
Philip Morris International Inc. COM 718172109 21,124 1,721 SH   SOLE   0 0 21,124
Plains All Amer Pipeline LP UNIT LTD PARTN 726503105 10,649 546 SH   SOLE   0 0 10,649
PNC Financial Services Group COM 693475105 11,125 1,015 SH   SOLE   0 0 11,125
PowerShares Build America Bond BUILD AMER ETF 73937B407 17,977 547 SH   SOLE   0 0 17,977
Powershares Intl. Dividend Achievers INTL DIV ACHV 73935X716 22,398 392 SH   SOLE   0 0 22,398
PowerShares Preferred AGG PFD PORT 73936T565 103,197 1,517 SH   SOLE   0 0 103,197
PowerShares Senior Loan Port SENIOR LN PORT 73936Q769 49,812 1,197 SH   SOLE   0 0 49,812
PPG Industries Inc. COM 693506107 2,400 555 SH   SOLE   0 0 2,400
Procter & Gamble Co. COM 742718109 47,205 4,300 SH   SOLE   0 0 47,205
Realty Income Corp. COM 756109104 16,066 766 SH   SOLE   0 0 16,066
Schlumberger, Ltd. COM 806857108 3,000 256 SH   SOLE   0 0 3,000
SPDR BarCap Convertible Securities BRC CNV SECS EFT 78464A359 13,254 621 SH   SOLE   0 0 13,254
SPDR Barclays International Corp. Bond BRCLY INTL CRP 78464A151 201,625 6,930 SH   SOLE   0 0 201,625
SPDR S&P Dividend ETF S&P DIVID ETF 78464A763 141,056 11,115 SH   SOLE   0 0 141,056
SPDR S&P Regional Banking ETF S&P REGL BKG 78464A698 34,981 1,424 SH   SOLE   0 0 34,981
Stifel Financial Corp. COM 860630102 21,397 535 SH   SOLE   0 0 21,397
Stryker Corp COM 863667101 3,004 283 SH   SOLE   0 0 3,004
Susquehanna Bancshares, Inc. COM 869099101 21,513 289 SH   SOLE   0 0 21,513
Target Corp COM 87612E106 7,496 569 SH   SOLE   0 0 7,496
Tekla Healthcare Investors SH BEN INT 404052102 18,004 567 SH   SOLE   0 0 18,004
Texas Instruments, Inc. COM 882508104 9,408 503 SH   SOLE   0 0 9,408
Time Warner Cable, Inc. COM 88732J207 1,992 303 SH   SOLE   0 0 1,992
United Parcel Service Inc. CL B 911312106 2,127 237 SH   SOLE   0 0 2,127
United Technologies COM 913017109 7,915 910 SH   SOLE   0 0 7,915
Vanguard Dividend Appreciation DIV APP ETF 921908844 4,873 395 SH   SOLE   0 0 4,873
Vanguard Energy ETF ENERGY ETF 92204A306 2,170 242 SH   SOLE   0 0 2,170
Vanguard REIT REIT ETF 922908553 8,621 698 SH   SOLE   0 0 8,621
Vanguard Short Term Bond Index Fund SHORT TRM BOND 921937827 4,545 363 SH   SOLE   0 0 4,545
Verizon Communications, Inc. COM 92343V104 7,924 371 SH   SOLE   0 0 7,924
Wal-Mart Stores, Inc. COM 931142103 3,447 296 SH   SOLE   0 0 3,447