Jerry C. Wagner has been President, Director and sole shareholder of Flexible Plan Investments, Ltd. since its formation in February 1981. He has been active in market analysis, designing methodologies and management of personal investment portfolios since 1969. Previously, Mr. Wagner was a shareholder and head of the tax and securities law department of Clark, Hardy, Lewis, Pollard & Page, P.C., a law firm of 35 attorneys in Birmingham, Michigan. Prior to that, he was a partner in the law firm of Dahlberg, Mallender & Gawne.

Flexible Plan Investments, Ltd., is a Michigan corporation registered as an Investment Advisor with the SEC. By careful and intelligent risk management, his firm's clients safely avoided the down market of 1984, the devastating crash of 1987 and the 1990 sell offs. Clients using Flexible Plan's approach to strategic diversification ameliorated the impact of investment losses as experienced by various market indexes in the "mauling" of this recent bear market. Flexible Plan's success has been highlighted in important trade publications such as Business Week, Barron's and Mutual Funds Magazine, and has been repeatedly listed among the Inc. Magazine's 500 Fastest-Growing Private Companies.

Mr. Wagner was a founding member and has served as a Director, Chairman, President, and Vice President of the National Association of Active Investment Managers (NAAIM). NAAIM is a non-profit national association of registered investment advisors who utilize dynamic or tactical asset allocation strategies to manage assets invested in mutual funds and annuities. Mr. Wagner also drafted the organization's Code of Ethics, was a co-author of their Performance Measurement Standards, and has chaired their Mutual Funds and Public Relations Committees. As of year-end, NAAIM included roughly 200 member firms nationwide, managing an estimated $14 billion. The active management strategies used by our members are diverse, encompassing mutual funds, variable annuities, equity baskets, index-linked, exchange-traded securities, futures and more.

Mr. Wagner has lectured and written extensively on the subject of Market Allocation Methods. He is co-author of: "The Case for Market Timing," Personal Financial Planning, April 1992, and "Market Timing Works Where it Matters the Most...In the Real World," Journal for Portfolio Management, Summer 1992. His article, "Why Market Timing Works," appeared in the Summer 1997 issue of The Journal of Investing. His objectives, as summarized by these articles, are easily defined: Identify market inefficiencies and take advantage of them to increase risk-adjusted return for the benefit of all of his clients.

Mr. Wagner received a B.A. in Political Science, and a Master's in Industrial Relations from Michigan State University in 1969 and 1970, respectively. He received his Juris Doctor degree from the University of Michigan in 1973.