Adela Cepeda is Managing Director of PFM Financial Advisors LLC. She was the founder and President of A.C. Advisory, Inc., a nationally ranked financial advisory firm which manages the structuring and execution of transactions in the capital markets.  Cepeda serves on the boards of the UBS Funds, Consulting Group Capital Markets Mutual Funds, and the Mercer Mutual Funds. She is also a director of BMO Financial Corp., the U.S. holding company for BMO Harris Bank, with 15,000 employees and over 600 branches. Cepeda previously served on the board of Wyndham International and chaired its audit committee. Ms. Cepeda previously held the position of Vice President of Corporate Finance at Smith Barney, Harris Upham & Co. Inc. She is a Director of several mutual fund families and serves on numerous non-profit boards, including the Cook County Council of Economic Advisors and the City of Chicago Community Development Commission. She also serves on the board of the Chicago Foundation for Women. Ms. Cepeda graduated cum laude with an A.B. in Economics from Harvard College and earned an M.B.A. from the University of Chicago School of Business.