Mr. A. Alan Adler III

A. Alan Adler, III, Managing Director, graduated from Denison University with a degree in Economics.Prior to joining Asset Management, Inc. in 2001, Alan was a Research Analyst with Legg Mason, Inc., covering the Healthcare Services and Information Technology industries.More recently, Alan was a Vice President and Senior Research Analyst with Friedman, Billings, Ramsey & Co., covering the Enterprise and Infrastructure Software industries.Alan has advised companies on business strategy and financial transactions and mutual fund managers on equity investment decisions.

A. Alan Adler, IIIManaging DirectorRegistered Investment Advisor RepresentativeMr. Adler has 10 years of experience in equity research, investment banking, and portfolio management, including positions with Legg Mason and Friedman, Billings & Ramsey.He is a graduate of Denison University.

A. Alan Adler, IIIManaging Director, Asset Management Investment AdvisersRegistered Investment Advisor RepresentativeMr. Adler has 10 years of experience in equity research, investment banking, and portfolio management, including positions with Legg Mason and Friedman, Billings & Ramsey.He is a graduate of Denison University.

A. Alan Adler, IIIManaging DirectorRegistered Investment Advisor Representative

Mr. Adler is responsible for overseeing Chevy Chase Trust's Strategic Core Equity investment strategy, to which he brings a background of equity research, portfolio management, and investment banking experience.

Mr. Adler began his career in 1996, working with the Chief Equity Market Strategist at Legg Mason.He later joined the firm's Healthcare Equity Research and Investment Banking Group, working as an Associate Analyst covering Healthcare Services and Healthcare Information Technology.

In 1999, Mr. Adler joined Friedman, Billings, Ramsey & Company's Technology Equity Research and Investment Banking Group, where he was Vice President, Senior Equity Research Analyst, covering Enterprise and Internet Software.

In 2001, Mr. Adler joined Asset Management Investment Advisers, where he managed the firm's equity investment strategy.In 2004, he assumed a leadership role in the company and executed its strategic sale to Chevy Chase Trust in 2005.

Mr. Adler is a graduate of Denison University, where he earned a degree in Economics.He serves on the boards of Green Acres School and The First Chukker Foundation, and is actively involved with the Corcoran Gallery of Art.

A. Alan Adler, IIIManaging DirectorRegistered Investment Advisor RepresentativeMr. Adler has 11 years of experience in equity research, investment banking, and portfolio management, including positions with Legg Mason and Friedman, Billings & Ramsey.He is a graduate of Denison University.