The Ameriprise Investment Research Group

The Ameriprise Investment Research Group (IRG) is a team of experienced investment and due diligence professionals focused on delivering timely and actionable investment strategies, insight and commentary on the world’s markets.

Sound investment strategies begin with reputable, objective research and robust due diligence. The IRG does just that by producing equity, and investment manager research that can help you better understand today’s markets and investment choices. Through your Ameriprise financial advisor, you have access to insightful investment research and strategies from the Ameriprise Global Asset Allocation Committee and the Ameriprise Investment Research Group (IRG) including:

 Objective market and economic insight.  Sophisticated investment strategies to help meet your goals in any market environment.  Rigorous due diligence and oversight giving you confidence in the quality of your investments.

Lyle B. Schonberger

Vice President, Investment Research and Due Diligence

As Vice President of Investment Research and Due Diligence at Ameriprise Financial, Lyle Schonberger leads proprietary macro and ,

manager research and investment due diligence. He partners with the capital

markets team to help oversee independent third party research and related

advisor tools. Lyle oversees the creation, dissemination and functionality of the entire suite of proprietary research publications and support materials,

with a steadfast focus on independence and objectivity. He is also

responsible for strategic planning and department budgeting, and general

department regulatory, supervisory and management responsibilities.

Lyle joined Ameriprise in 1994 as a health care analyst covering

pharmaceuticals, biotechnology, medical supplies and devices, and the health

care services industries. He later added coverage of select industrial and consumer brand companies. Lyle took over as research director in 2000 and has held roles of increasing span and leadership responsibility, all within the proprietary research function.

Lyle and other members of the Research team provide investment thought leadership to several Ameriprise product, investment and risk committees. Lyle graduated from Austin College in Sherman, TX with a B.A. in Business. He later earned his M.B.A. in Finance and International Business from Drexel University in Philadelphia, PA. In June 1998, Lyle was recognized as a Zack’s/Wall Street Journal All-Star Analyst for the Medical Supply sector, ranking third among 39 eligible analysts. Following a major overhaul in research processes and roles in 2002, the Research team was awarded the Model of Excellence Award for recognition of our transformation. In 2008, Lyle and members of the team were awarded the TICA ACE Award in recognition of our objective and comprehensive due diligence and supervisory processes for our TIC/1031 Exchange program.1 The Ameriprise Investment Research Group

Benjamin L. Becker, CFA® Analyst, Manager Research As an Analyst of Manager Research at Ameriprise Financial, Ben Becker is responsible for research and coverage of domestic core equity strategies. He also manages the research review process for Third-Party Platforms (TAMPs). Ben joined Ameriprise Financial in 2006. On top of his research experience, Ben has worked with Ameriprise financial advisors developing practice management strategies. He held roles with The Personal Advisors Group and Team Practices as a business analyst before moving into his current role in 2013. Ben graduated from the University of Missouri, Columbia with a B.A. in Political Science. He also received his M.B.A. with an emphasis in Finance from the School of Business at the University of . Ben holds the Chartered ® (CFA) designation.

Justin E. Bell, CFA Vice President, Due Diligence As Vice President of Due Diligence at Ameriprise Financial, Justin Bell directs the due diligence review of third party investment firms and investment funds, supervises team member reviews of product prospectuses and offering memoranda and reviews third party firms’ financial statements. He is also responsible for the execution of product sponsor on site operational and governance reviews, and worked with his team to develop and maintain a patent-pending product complexity evaluation tool. Justin has been with Ameriprise for 14 years and has more than 20 years of financial industry experience. Prior to his current role, he served as senior product manager of alternative investments, where he managed the structured products offering and external products platforms for Ameriprise. Before joining Ameriprise, Justin was the manager of operations for liquid investments at Värde Management, L.P. He managed the settlement process for Depository Trust Company and Euroclear fixed income, ABS, equity, option trades and verified, confirmed and settled credit default swap trades. Justin also partnered with in-house paralegals to verify and close bank debt trades on LSTA and LMA documents. Justin graduated from the University of Minnesota Carlson School of Management in , MN with a B.S. in Management with Finance emphasis. He also holds the Chartered Financial Analyst® (CFA) designation.

Justin H. Burgin Senior Analyst, Equity Research As Senior Analyst of Equity Research at Ameriprise Financial, Justin Burgin is responsible for the firm’s coverage of the Technology and Telecommunications sectors. He provides daily insights, detailed sector analyses, thematic and thought leadership and manages the Technology and Telecom Sector Focus List of individual recommendations. Justin has over 20 years of investment research experience. Prior to joining Ameriprise in 2008, Justin covered the Technology sector at Olde Discount Brokerage. He also has experience at Fidelity Brokerage Services and . Justin contributes to several of the Ameriprise®Model Portfolios and is a senior research analyst on the Moderate Aggressive and Aggressive Model Portfolios. Justin graduated from Michigan State University with a B.S. in Management.

The Ameriprise Investment Research Group

Jon K. Cartwright Senior Analyst, Fixed Income Research As Senior Analyst of Fixed Income Research at Ameriprise Financial, Jon Cartwright is responsible for providing fixed income credit analysis for high yield and high grade investment securities. Jon began his career in 1980 when he joined the Union Trust Company as a senior credit analyst, where he reviewed and structured both domestic and international . Over the years he has been an equity portfolio manager, built the Boston Company’s Fixed Income Research effort and served as a Vice President and Senior Analyst at both Wheat First Butcher Singer and Raymond James & Associates. Before joining Ameriprise in 2016, Jon was the Research Director of BOSC, a subsidiary of the Bank of Oklahoma. Jon contributes to several of the Ameriprise® Model Portfolios and is the lead research analyst for the Fixed Income – Intermediate Income Series of portfolios. Jon graduated from Western Connecticut State University in Danbury, CT with a B.S. and M.S. in Finance

Patrick S. Diedrickson, CFA Senior Analyst, Equity Research As Senior Analyst of Equity Research at Ameriprise Financial, Patrick Diedrickson is responsible for the firm’s coverage of the Consumer Goods and Services sectors. Patrick provides daily insights, detailed sector analyses, thematic and thought leadership and manages the Consumer Sector Focus List of individual stock recommendations. Patrick has 24 years of experience in the industry, the last 16 of which have been with Ameriprise. Prior to joining Ameriprise, Patrick served as a broker in the active trader group at Charles Schwab. Patrick contributes to several of the Ameriprise® Model Portfolios and is a lead research analyst on the Moderate Dividend and Growth, Strategic Income Opportunity, Core Domestic Equity and Allocated Moderate strategies. Patrick graduated from Bethany College in Bethany, WV with a B.A. in Economics. He holds the Chartered Financial Analyst® (CFA) designation.

Brian M. Erickson, CFA Vice President, Fixed Income Research and Strategy As Vice President of Fixed Income Research and Strategy at Ameriprise Financial, Brian Erickson provides fixed income investment strategies, insight and commentary such as Before the Bell and Global Asset Allocation Committee reports. In Addition, Brian leads the firm’s fixed income securities research team. Brian has focused on investment analysis since 1998, starting his career as a fixed income analyst for Piper Jaffray progressing to principal and senior analyst of the Aircraft Finance Research Group, analyzing debt financing for U.S. airlines. Prior to coming to Ameriprise in 2010, Brian held the role of vice president, senior analyst at Stifel Nicolaus focusing on credit based securitized products including collateralized obligations (CLOs) and commercial mortgage backed securities (CMBS). Brian started his professional career working for , Inc. Brian serves as a voting member of the Ameriprise Global Asset Allocation Committee. He also contributes to several of the Ameriprise® Model Portfolios and is a lead research analyst on the Strategic Income Opportunity Model Portfolio. Brian is a member of the CFA Institute and the CFA Society of Minnesota. Brian graduated from St. Olaf College in Northfield, MN with a B.A. in Mathematics and Economics and holds the Chartered Financial Analyst® (CFA) designation.

The Ameriprise Investment Research Group

Andrew R. Heaney, CFA Senior Analyst, International Equity Research As Senior Analyst of International Equity Research at Ameriprise Financial, Andrew Heaney is responsible for developing fundamentally-based multifactor quantitative models and managing the International Equity Focus List. Andrew has over 12 years of experience in the financial services industry. Prior to joining Ameriprise in 2014, Andrew served as director of research at Bloodhound Investment Research, where he oversaw the development and implementation of an advanced quantitative simulation tool. He was also an equity specialist at Kellogg Group and Performance Capital Management, where he was a designated Market Maker on the floor of the . Andrew contributes to several of the Ameriprise® Model Portfolios and is a senior research analyst on the International Equity Model Portfolio. Andrew graduated from Colorado State University in Fort Collins, CO with a B.S. in Finance. He holds the Chartered Financial Analyst® (CFA) designation.

Michael V. Jastrow, CFA Vice President, Manager Research As Vice President for Manager Research at Ameriprise Financial, Mike Jastrow leads a team of investment professionals focused on manager research related to separate accounts, mutual funds, exchange-traded funds (ETFs) and closed-end funds. He actively deploys the proprietary research output toward the creation of new product ideas and oversees the separate account investment manager lineup, maintenance of the Starting Point List2 and the investment leadership of Active Portfolios® investments. Mike has been with Ameriprise Financial for 16 years. He has spent his career at Ameriprise working within the manager research organization. Mike was the first manager research professional hired to support the advisory business. He has held multiple research and leadership roles including research analyst, senior research analyst and director of research for Active Portfolios investments. Mike earned a B.B.A. in Finance, Investments and Banking from the University of Wisconsin, Madison and holds the Chartered Financial Analyst® (CFA) designation.

Jim Johnson, CFA Manager, Due Diligence As Manager of Due Diligence at Ameriprise Financial, Jim Johnson is responsible for reviewing open- end mutual funds, unit investment trusts and exchange-traded funds offered at Ameriprise. He analyzes both proposed and existing products on the Ameriprise platform for product complexity. In addition to product reviews, Jim also conducts onsite firm-level reviews. Jim has been with Ameriprise for seven years and has nine years of financial industry experience. Prior to starting his current role, Jim served as a Senior Analyst with the Syndicate Distribution team of Solutions. He was responsible for the product management of the new issue closed-end fund and preferred securities business, including working with external and internal business partners on the end-to-end operations of bringing these new securities to market. Jim graduated from the University of Minnesota-Carlson School of Management in Minneapolis, MN with a B.S.B in Finance. Jim holds the Chartered Financial Analyst® (CFA) designation.

The Ameriprise Investment Research Group

David Joy Chief Market Strategist David Joy is chief market strategist of Ameriprise Financial, Inc. David publishes a weekly markets commentary that is frequently quoted by the press and is widely read by the firm’s approximately 10,000 financial advisors and their clients3. He also contributes to the Wealth Insights and Markets & Economies newsletters to the same audience. David is a regular guest on CNBC, Bloomberg TV and Fox Business Network and has been broadly quoted in leading national publications including , The , , and USA Today. David has more than 35 years of experience in the investment management industry including senior investment positions at several industry leading firms before joining Ameriprise in March 2003. He is a member of the Ameriprise Financial Global Asset Allocation Committee. David is a graduate of the College of the Holy Cross. He received his M.B.A. from Boston College's Carroll School of Management.

Mark P. Kelliher, CFA Senior Analyst, Manager Research As a Senior Analyst for Manager Research at Ameriprise Financial, Mark Kelliher conducts research and due diligence on and separately managed account managers. He is responsible for international and global strategies including emerging markets, with styles encompassing growth, core and value. Mark is also responsible for domestic equity income and master limited partnership strategies, as well as global and domestic real estate investment trust and infrastructure strategies. Mark joined Ameriprise Financial in 2014 with over 20 years of financial and investment industry experience. Prior to joining Ameriprise, Mark was responsible for the administration and investment manager selection for the retirement plans at . He was also an equity portfolio manager for both Nicollet Investment Management and U.S. Bank. Mark graduated from the University of Minnesota in Minneapolis, MN with a B.S. in Pharmacy and later earned his M.B.A. from the University of St. Thomas in Minneapolis, MN. He also holds the Chartered Financial Analyst® (CFA) designation.

Peter W. LaFontaine Manager, Due Diligence As Manager of Due Diligence at Ameriprise Financial, Peter LaFontaine is responsible for reviewing open- end mutual funds, unit investment trusts (UITs) and exchange-traded funds offered at Ameriprise. He analyzes both proposed and existing products on the Ameriprise platform for product complexity. In addition to product reviews, Peter also conducts onsite firm-level reviews. Peter has been with Ameriprise for three years and has 15 years of financial industry experience. Prior to joining Ameriprise, Peter served as an investment accountant at GMAC-Residential Funding Corporation, managing the accounting for hedging activities, Value At Risk and counterparty exposure reporting. As a Senior Financial Analyst at Green Tree Financial, he managed deal teams who oversaw loan securitization sales and sales negotiations of residual assets and mortgage service rights. He also developed loan pool models and operationalized firm wide reporting efforts. Peter has also been a consultant to Community Reinvestment Fund, Corporation, Ameriprise Financial, MoneyGram, Inc., U.S. Bank, and , focusing on asset/liability management, due diligence, quality assurance, accounting and reporting. Peter graduated from the University of Minnesota in Minneapolis, MN with a B.S. in Applied Economics. He later earned an M.B.A. in Finance from the University of Minnesota Carlson School of Management.

The Ameriprise Investment Research Group

Jeffrey R. Lindell, CFA Senior Analyst, Manager Research As a Senior Research Analyst for Manager Research at Ameriprise Financial, Jeff Lindell works on the Managed Account platform, focusing on exchange-traded funds (ETFs) and closed-end funds (CEFs). Jeff has eight years of experience in the financial services industry. Prior to joining Ameriprise in 2015, Jeff was an investment analyst at an advisory firm conducting manager research, mutual fund selection, model portfolios and trading. He also served as a Fixed Income Research Assistant working for a registered investment adviser (RIA), where he did buy-side credit research, trading and portfolio analysis. Jeff graduated from the University of St. Thomas with a B.A. in Financial Management and holds the Chartered Financial Analyst® (CFA) designation.

Kurt J. Merkle, CFA Director, Due Diligence As Director of Due Diligence at Ameriprise Financial, Kurt Merkle leads a team responsible for conducting research and due diligence for exchange traded products and alternative investment product offerings that are or may be offered through Ameriprise. He also worked with his team to develop and maintain a patent- pending product complexity evaluation tool. Kurt has been with Ameriprise for 12 years. Prior to his current role, he served as a Global Investment Performance Standards (GIPS®) advisor and investment performance analyst responsible for ensuring the firm maintained proper policies and procedures and adhered to the GIPS®. He also led Composite Management and AUM reporting efforts for Columbia Management, provided mutual fund and institutional account research and analytical support to the investment oversight, portfolio management and product marketing processes, including completion of RFP/RFIs. Kurt graduated from the University of St. Thomas in St. Paul, MN with a B.A. in Business Administration- Accounting. He later earned his M.B.A. from the University of Minnesota Carlson School of Management. He also holds the Chartered Financial Analyst® (CFA) designation.

Kay S. Nachampassak Senior Manager, Due Diligence As Senior Manager of Due Diligence at Ameriprise Financial, Kay Nachampassak is responsible for conducting research and due diligence on alternative investments, such as non-traded REITs and non- traded BDCs, private real estate, managed futures funds, hedge fund offerings, private equity offerings and complex mutual funds. Kay has been with Ameriprise for six years and has 17 years of financial industry experience. Prior to her current role, she worked at Questar Capital Corporation as an alternative investment analyst, responsible for conducting due diligence on all alternative investments such as non-traded REITs, private real estate investments, oil and gas investments, equipment leasing and managed futures. She also served as a research analyst/financial consultant at LPL Financial/Guzek Asset Management, responsible for product research on both traditional and alternative investments and asset allocations for top LPL financial advisors. Prior to that, Kay was an investment accountant at , where she calculated daily NAV for mutual funds. Kay graduated from the University of Minnesota in Minneapolis, MN with a B.A. in Economics. She later earned her M.B.A. in International Business from ENPC School of International Management in Paris, France.

The Ameriprise Investment Research Group

Douglas D. Noah Research Associate, Manager Research As a Research Associate for Manager Research within the Ameriprise Investment Research Group at Ameriprise Financial, Douglas Noah supports the Manager Research team with reporting and analytics of mutual funds, exchange-traded funds, and due diligence of separate account investment strategies and Active Portfolios® investments. Douglas joined Ameriprise Financial in 2015. Previously, Douglas served as the Portfolio Manager of his university’s student managed investment fund and as an intern in a role with Financial at a Fargo practice. Douglas earned his B.S. in Finance and Economics from North Dakota State University.

Christine Pederson, CIMA® Director, Equity Manager Research As an Equity Manager Research Director at Ameriprise Financial, Christine Pederson is responsible for evaluating and recommending investment managers for the separately managed accounts platforms, the Starting Point List and multi-manager discretionary products. Christine has over 27 years of financial industry experience. She was an equity analyst at Northern Trust Companies where she served as a buy-side research analyst covering utilities and telecommunication industries. Christine later supported client investor relations programs as an investor relations associate at the Financial Relations Board. She also served as a financial advisor for BancOne Securities, where she sold investment services and products to bank clients. Prior to joining Ameriprise in 2005, Christine managed high net-worth clients as portfolio manager and investment analyst at Kabarec Financial Advisors. Christine serves on the Ameriprise Global Asset Allocation Committee. Christine earned a B.B.A. in Management and her M.B.A. in Finance from Loyola University in Chicago, IL. Christine is a Certified Investment Management Analyst®professional.

Steven T. Pope, CFA, CFP® Senior Analyst, Manager Research As a Senior Analyst for Manager Research at Ameriprise Financial, Steven Pope conducts research and due diligence on investment managers. In this role, Steven maintains research coverage and recommendation responsibility for fixed income strategies, focusing on the specialty fixed income areas of multi-sector, high yield, bank loan, convertible and preferred securities within mutual funds and separately managed accounts. In addition to his research responsibilities, Steven acts as the Chair of the Starting Point Investment Committee. Steven came to Ameriprise in 2014 and has 11 years of financial industry experience. Prior to joining Ameriprise, Steven was responsible for investment research, consulting and portfolio management at Securian Financial. He was also an investment manager at Alerus Financial, where he was responsible for investment research and retirement plan investment consulting. Steven graduated from the University of North Dakota in Grand Forks, ND with a B.B.A. in Business Administration. He holds his Chartered Financial Analyst® (CFA) and CERTIFIED ® (CFP) designations.

The Ameriprise Investment Research Group

Russell T. Price, CFA Senior Economist As the Senior Economist at Ameriprise Financial, Russell Price provides analysis and research on the state of the economy for the firm. Russell’s views on the economy are frequently seen in the news media including The New York Times, The Wall Street Journal, , CNN, Reuters, Barron’s and BusinessWeek. He has often been a guest on Bloomberg TV and CNBC. Russell has been with Ameriprise for 15 years and has more than 20 years of financial industry experience. Prior to joining Ameriprise, Russell held positions as senior economist for H&R Block Financial Advisors and was an equity research analyst covering companies in the Industrials and Technology sectors. Russell serves on the Ameriprise Global Asset Allocation Committee. He is also a member of the CFA Society of Detroit and National Association for Business Economics. Russell has been repeatedly cited by Bloomberg Financial as a “Bloomberg Best”, for being one of the most accurate economic forecasters in the benchmark consensus surveys. Through May 2016, Bloomberg named Russell the most accurate forecaster of U.S. GDP. Russell graduated from East Stroudsburg University in East Stroudsburg, PA with a B.A. in Economics and Geography. He later earned his M.B.A. in Finance and Investments from Marywood University in Scranton, PA and holds the Chartered Financial Analyst® (CFA) designation.

E. Eugene Robinson Senior Analyst, Equity Research As Senior Analyst of Equity Research at Ameriprise Financial, Gene is responsible for the firm’s coverage of the Health Care sector. He provides daily insights, detailed sector analyses, thematic and thought leadership and manages the Health Care Sector Focus List of individual stock recommendations. Gene has over 30 years of investment research experience as a buy and sell-side analyst. Prior to joining Ameriprise in 2007, Gene was with H&R Block Financial Advisors, as well as the Ohio Company and Hilliard Lyons, regional brokerage firms in the Midwest. He has also held the role of portfolio manager at Fifth Third Bank. Gene contributes to several of the Ameriprise® Model Portfolios and is a senior research analyst on the Moderate Aggressive and Aggressive Model Portfolios. He graduated from Ohio State University with a B.S. in Finance. He later earned his M.B.A. from Xavier University in Cincinnati, OH.

Michael K. Sabbann, CFA Director, Manager Research As Director for Manager Research at Ameriprise Financial, Mike Sabbann works cross-organizationally to highlight the broad research content for internal business partners. Mike aims to help advisors leverage these valuable resources for the benefit of their clients. Mike has over 28 years of experience in the financial services industry. He worked as an equity analyst at Piper Jaffray and Co. providing buy, sell and hold recommendations of stock to institutional investors. Mike later served as the assistant director at Piper Jaffray and Co. leading a sell-side research department. He later moved to American First Asset Management as portfolio manager where he was the primary decision maker for a $480 million small cap value mutual fund. Mike joined Ameriprise in 2002 as a senior equity analyst with American Express Fund Company (predecessor to Columbia Management) before moving to the Research team in 2004. He has been a leader within the manager research team, as well as conducted research and due diligence reviews of investment managers. He used this research to help advisors make informed decisions about different packaged solutions such as mutual funds and separately managed accounts. Mike earned a B.A. in Chemistry from University of Minnesota, Duluth and his M.B.A. in Finance from the University of Minnesota. He also holds the Chartered Financial Analyst® (CFA) designation.

The Ameriprise Investment Research Group

Anthony Saglimbene Vice President—Global Market Strategist As the Vice President—Global Market Strategist at Ameriprise Financial, Anthony Saglimbene is responsible for the research, knowledge and communication of strategic and tactical allocation strategies across multiple asset classes. He is also responsible for serving as a voice for the firm on macro analysis and global equity markets. Anthony has been with Ameriprise for 17 years. Anthony was a financial advisor specializing in retirement planning and asset allocation strategy. Before moving into his current role, Anthony served as a Senior Analyst for Manager Research with Ameriprise where he was responsible for research and due diligence efforts on mutual funds, exchange-traded funds, closed-end funds and separately managed accounts. He also spearheaded the publication of the Starting Point List and related commentary. Anthony serves as a voting member of the Ameriprise Global Asset Allocation Committee. Anthony’s contact with thought leaders and portfolio managers both inside and outside the firm, coupled with his own macro analysis, allow him to bring an integral view to the broader Committee. Anthony is also the lead research analyst on the Ameriprise® Fixed Income ETF Model Portfolio. Anthony earned his B.A. from Michigan State University and an M.B.A. in Finance from Oakland University.

Frederick M. Schultz Senior Analyst, Equity Research As Senior Analyst of Equity Research at Ameriprise Financial, Fred Schultz is responsible for the firm’s coverage of the Industrials and Materials sector. He provides daily insights, detailed sector analyses, thematic and thought leadership and manages the Industrials & Materials Sector Focus List of individual stock recommendations. Fred joined Ameriprise in 2009 and has more than 20 years of financial industry experience. Prior to joining Ameriprise, Fred was with Bychgan Asset Management. His previous experience includes director and portfolio manager at UBS O’Connor as well as an analyst with Raymond James & Associates covering electrical power and alternative energy. Fred serves on the Ameriprise Global Asset Allocation Committee. He also contributes to several of the Ameriprise®Model Portfolios and is a lead research analyst on the Moderate Dividend and Growth and the Strategic Income Opportunity Model Portfolios. Fred graduated from Western Michigan University in Kalamazoo, MI with a B.B.A in Business Management. He later earned his M.B.A. in Finance from Wayne State University in Detroit, MI.

Manisha Singh, CFA Senior Analyst, Manager Research As an Analyst for Manager Research at Ameriprise Financial, Manisha Singh conducts research and due diligence reviews of investment managers. She is the lead analyst for domestic value equity across mutual funds and separately managed accounts. Manisha joined Ameriprise Financial in 2008. Prior to her current role, she served as a Senior Business Analyst for the Capital Market Solutions group. In that role, she conceptualized and designed quantitative financial models on retirement wealth strategies and products, and provided actionable insights for product development. Before that role, Manisha was a Senior Performance Analyst in asset management with Columbia Threadneedle Investments, where she drove performance analytics and reporting for the portfolio management teams. Before coming to Ameriprise, she served as a global IT consultant, driving software development, business analytics and financial modeling for clients across a wide range of industries. Manisha graduated with a B.E. in Computer Science from R.V. College of Engineering in Bangalore, India. She also holds an M.B.A. from the Booth School of Business at the University of Chicago. She holds the Chartered Financial Analyst® (CFA) designation.

The Ameriprise Investment Research Group

Curtis R. Trimble Senior Analyst, Equity Research As Senior Analyst of Equity Research at Ameriprise Financial, Curtis Trimble is responsible for the firm’s coverage of the Energy and Utility sectors. He provides daily insights, detailed sector analyses, thematic and thought leadership and manages the Energy and Utilities Sector Focus List of individual stock recommendations. Curtis has 16 years of experience covering these sectors. Prior to joining Ameriprise in 2015, Curtis oversaw Energy coverage at Global Hunter, Natixis Bleichroeder and Cannacord Adams in Houston, TX, as well as Brean Capital in New York. Curtis contributes to several of the Ameriprise® Model Portfolios. Curtis graduated from Swarthmore College in Swarthmore, PA with a B.A. in Economics. He later earned his M.B.A. in Finance from Rice University in Houston, TX.

Jay C. Untiedt, CFA Director, Manager Research As a Manager Research Director at Ameriprise Financial, Jay Untiedt is the lead analyst for separate account investment strategies, Starting Point List and discretionary model products covering Alternatives and Allocation strategies. Jay has over 10 years of experience in the financial services industry. Prior to joining Ameriprise in 2011, Jay was a global equity research associate at Jeffrey Slocum & Associates where he evaluated and ranked investment strategies across U.S., International, Emerging Markets and Global Equity segments. He also constructed client-specific, multi-manager investment portfolios. Jay is a member of the Ameriprise Global Asset Allocation Committee. Jay graduated from the University of Wisconsin—La Crosse with a B.S. in Finance. He later earned his M.B.A. from Australian Graduate School of Management in Sydney, Australia. He also holds the Chartered Financial Analyst® (CFA) designation.

Lori A. Wilking - Przekop Senior Analyst, Equity Research As Senior Analyst of Equity Research at Ameriprise Financial, Lori Wilking – Przkop is responsible for the firm’s coverage of the Financial Services sector. She provides daily insights, detailed sector analyses, thematic and thought leadership and manages the Financial Services Sector Focus List of individual stock recommendations. Lori’s 19 years of investment research experience includes H&R Block Financial Advisors, where she gained experience covering Consumer Retail companies. Lori serves on the Ameriprise Global Asset Allocation Committee and contributes to several of the Ameriprise® Model Portfolios. Lori earned her B.B.A. in Finance from Ohio University and her M.B.A. from Wayne State University in Detroit, MI.

The Ameriprise Investment Research Group

Joseph C.K. Wong, CFA Director, Asset Allocation As Director of Asset Allocation at Ameriprise Financial, Joseph C.K. Wong is responsible for the coordination of the Global Asset Allocation Committee (GAAC) thought leadership as well as enhancing IRG’s asset allocation guidance. In addition, he is responsible for expanding the committee’s asset allocation views and recommendations into a framework which will be used to populate firm-level financial planning software. Joseph has over 24 years of experience in the financial services industry. He is a member of the Ameriprise Global Asset Allocation Committee. He is also the subject matter expert for Asset Allocation, including assisting with Department of Labor - related advisor training and content. Joseph Graduated from Macquarie University in Sydney, Australia with a Bachelor’s degree in Economics. He also received his Master of Commerce from the University of New South Wales in Sydney, Australia. Joseph holds the Chartered Financial Analyst® (CFA) designation.

1 Wall Street Journal, June 30, 1998, Section R; Model of excellence award was an internal award granted by senior leadership at H&R Block Financial Advisors; TICA ACE award was granted in November 18, 2008 by TICA (Tenant-In-Common Association; ACE = A Champion of Excellence). 2 Ameriprise Financial Services, Inc. has developed the Starting Point List in order to help identify mutual funds and exchange traded funds (ETFs) it believes offer attractive investment opportunities to long-term investors. The List is designed to provide investors with funds that can be used in a broad asset allocation strategy and to help meet long-term investment planning needs. For more detail on mutual fund and ETF recommendations, please consult your financial advisor. 3 Ameriprise Financial Fourth Quarter 2016 Statistical Supplement.

Columbia Threadneedle Investments [Columbia Threadneedle] is the global brand name of the Columbia and Threadneedle group of companies. These companies are part of Ameriprise Financial. The Certified Financial Planner board of Standards Inc. owns the certification marks CFP®CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete the CFP Boards initial and ongoing certification requirements. Ameriprise Financial Services, Inc. Member FINRA and SIPC. © 2016-2017 Ameriprise Financial, Inc. All rights reserved. (3/17)