PFM Funds
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About PFM Funds > Board of Trustees

PFM Funds (the "Fund") is governed by a dedicated group of experienced finance professionals. They are responsible for setting strict investment guidelines for the funds and seeing that those standards are implemented.


Board of Trustees
Michael Flanagan
Chairman of the Board of Trustees
Audit Committee  
Governance Committee
State Superintendent of Education - State of Michigan 

Martin Margolis
Managing Director - PFM Asset Management LLC 

Jeffrey Laine
Chairman of the Audit Committee
Governance Committee  
President - Commonwealth Financial Group 
Brian Marcel
Chairman of the Governance Committee
Audit Committee  
Assestant Superintendent Business Services,
Washtenaw Intermediate School District
Larry Davenport
Audit Committee
Governance Committee  




Martin Margolis
Managing Director - PFM Asset Management LLC 

Barbara Fava
Vice President
Managing Director - PFM Asset Management LLC 
Leo Karwejna
Chief Compliance Officer
Managing Director- PFM Asset Management LLC 
Debra Goodnight
Managing Director - PFM Asset Management LLC 
Daniel Hess
Secretary & Assistant Treasurer
Managing Director - PFM Asset Management LLC 




This information does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security by anyone in any jurisdiction in which such offer or solicitation is not authorized, or in which the person making such offer is not qualified to do so, or to anyone to whom it is unlawful to make such an offer or solicitation, or to anyone in any jurisdiction outside the United States. Investors should consider the investment objectives, risks, charges and expenses before investing in any of the Fund's portfolios. This and other information about the Fund is available in the Fund's current Prospectus, which should be read carefully before investing. A copy of the Fund's Prospectus may be obtained by calling 1-800-338-3383 or is available on the Fund's website at While the Fund's portfolio seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Fund are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( and Securities Investor Protection Corporation (SIPC) ( PFM Fund Distributors, Inc. is a wholly owned subsidiary of PFM Asset Management LLC. Effective October 3, 2016, Government Select Series adopted a policy to invest at least 99.5% of its total assets in cash and the following types of high quality, short-term investments: U.S. government securities (including securities issued or guaranteed by the U.S. government or its agencies or instrumentalities) (“U.S. Government Securities”); repurchase agreements for U.S. Government Securities that are collateralized fully; and shares of money market funds that invest exclusively in types of obligations in which Government Select Series is authorized to invest. It also adopted, effective on such date, a policy under which it invests, under normal market conditions, at least 80% of its net assets in U.S. Government Securities and/or repurchase agreements that are collateralized fully by U.S. Government Securities. Prior to October 3, 2016, Government Select Series was known as Prime Series and invested in a broader range of money market obligations, including obligations of U.S. companies, financial institutions and municipalities. Investment performance for periods prior to October 3, 2016 is not reflective of the current investment strategy of Government Select Series.

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