MORNINGSTAR RATINGS™ as of 04-30-2013 Category = Large Growth 3-year Morningstar Rating™ (out of 1485 funds)   5-year Morningstar Rating™ (out of 1285 funds)   10-year Morningstar Rating™ (out of 852 funds)   Overall Morningstar Rating™ (out of 1485 funds)   The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings, based on risk-adjusted returns. Click here for more information.

Morningstar® Style Box™ – as of 04-30-2013 Click here for more information.

LIPPER INC. TOTAL RETURN RANKINGS – as of 04-30-2013 Lipper Global Multi-Cap Value Funds

1-year   62 out of 81 3-year   25 out of 66 5-year   37 out of 51 10-year   17 out of 21

Past performance is no guarantee of future results.

AVERAGE ANNUAL TOTAL RETURNS – as of 03-31-2013

				1-year		3-year		5-year		10-year		Since Inception
WealthBuilder Equity Portfolio		NAV		9.15%		8.09%		2.46%		7.03%		3.17%
		POP		7.52%		7.54%		2.15%		6.87%		3.07%
S&P 500 Index				13.96%		12.67%		5.81%		8.53%		--
Figures quoted represent past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Click here for current month-end performance. Public offering price (POP) is the price of one share of a fund including any sales charges. Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Had sales charges been included, performance would be lower. For WealthBuilder shares, the maximum front-end sales charge is 1.50%. Performance including sales charge assumes the sales charge for the corresponding time period.

EXPENSES
Net Expense Ratio – effective since 10-01-12		2.32%
Gross Expense Ratio		2.42%
The advisor has committed, through 09-30-13, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waiver, excluding certain expenses, at 1.50%. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS

2012		15.53%
2011		-7.59%
2010		14.77%
2009		32.54%
2008		-42.97%
2007		5.47%
2006		13.60%
2005		6.97%
2004		12.64%
2003		29.37%

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISER  |  Wells Capital Management Incorporated ("Wells Capital Management")

PORTFOLIO MANAGERS

		Jeffrey P. Mellas, CAIA Years of investment experience: 20 View biography Mr. Mellas joined Wells Capital Management in 2003 as Managing Director of Quantitative Asset Management and Portfolio Manager, with over 16 years of investment management experience. Prior to joining Wells Capital Management, Mr. Mellas was with Alliance Capital Management ("Alliance") since 1995, as Vice President and Global Portfolio Strategist responsible for managing over $300 million in international pension assets. He was also the primary spokesperson for Alliance's domestic and international equity and fixed income strategies. Prior to joining Alliance, he was an associate group manager at Prudential Insurance. Mr. Mellas earned his B.A. degree in Economics from the University of Minnesota and his M.B.A. degree in Finance and International Business from New York University. He also completed the International Management Program at Haute Etudes Commerciales, Paris, France, and Universite de Valery, Montpellier, France. He has earned the right to use the CAIA designation and is a member of the Chartered Alternative Investment Analyst Association.
		Doug Beath Years of investment experience: 33 View biography Mr. Beath joined Wells Capital Management in July 2006 as a portfolio manager with the Quantitative Asset Management team. From 2005 to 2006, Mr. Beath was a senior vice president for SMH Research, where he represented several independent investment firms. Prior to that, from 2000 to 2005, Mr. Beath was with H.C. Wainwright Economics, where he was a senior vice president of research and served as a consultant to investment management firms and plan sponsors on macroeconomic issues and asset allocation. His investment management experience includes positions at Connecticut-based Wright Investors' Service and Chemical Bank, where he worked with institutional clients. Mr. Beath earned his B.A. from the University of Michigan and his M.B.A. from Fordham University in New York City.
		Petros Bocray, CFA, FRM Years of investment experience: 13 View biography Petros Bocray is a portfolio manager on the Quantitative Strategies team of Wells Capital Management. He joined the team in 2006 and serves as a co-manager on several portfolios, including researching and maintaining the proprietary quantitative models employed by the team. Before joining Wells Capital Management, Mr. Bocray was a portfolio manager at Wells Fargo Wealth Management Group, where he managed private client accounts focusing on portfolio construction and asset allocation. He earned a bachelor's degree in economics from the College of Charleston, Charleston, SC. Mr. Bocray has earned the right to use the CFA and FRM designations and is a member of the CFA Institute, the CFA Society of Minnesota, and the Global Association of Risk Professionals.

THE FUND  |  The Wells Fargo Advantage WealthBuilder Equity Portfolio^SM seeks capital appreciation by investing in select actively managed equity funds.

• Invests in actively managed funds that collectively provide well-diversified exposure to a broad range of equity subasset classes, including large-company growth, large-company value, small company, and international.
• Maintains a static asset allocation that uses daily cash flows to keep the actual weights as close to the target weights as possible.

• Multimanager expertise: The fund invests in both affiliated and unaffiliated mutual funds, seeking the best managers available. Factors used when selecting a fund include how well it complements the other funds in the portfolio, the management team's experience, and the strength and consistency of its track record.
• Strategic allocation: The portfolio invests across a variety of equity styles according to long-term, strategic asset allocation objectives. Daily cash flows are used to keep actual weights in line with target weights. Diversification across equity styles helps to reduce the impact of underperformance in any one equity asset class.

RISKS  |   Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. The Fund will indirectly be exposed to all of the risks of an investment in the underlying funds and will indirectly bear expenses of the underlying funds. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This Fund is exposed to foreign investment risk and smaller-company investment risk. Consult the fund's prospectus for additional information on these and other risks.

TOP HOLDINGS – % of net assets as of 04-30-2013 MFS Value Fund   12.51% Thornburg International Value Fund   9.05% T. Rowe Price Blue Chip Growth Fund   8.74% Eaton Vance Large Cap Value Fund   6.26% American Century Growth Fund Instl   6.25% Invesco Growth And Income Fund Invesco Growth And Income R6   6.23% Wells Fargo Advantage International Growth Portfolio   6.03% Wells Fargo Advantage Small Cap Value Fund   5.00% Wells Fargo Advantage Small Company Value Portfolio   4.99% Wells Fargo Advantage Endeavor Select Fund   4.99% Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.

PORTFOLIO STATISTICS – as of 03-31-2013 Number of Securities   16 Turnover Rate – as of 3-31-13   45.16%

ACCOUNT FEATURES Check Writing   No Dividends   Annually

ACCOUNT MINIMUMS Regular Account   $1,000 Traditional/Roth IRA Account   $250 UGMA/UTMA Account   $50 Subsequent Investments   $100

FEES
Redemption Fee		None
IRA Maintenance Fee  More information		$10 per account/$30 maximum