Investment Advisory Services

The vendor is required to provide investment advisory services including, but not limited to, the following:
a. Investment policy and strategy development
•    Review and recommend updates to council investment policy, procedures and documentation to ensure alignment with best practices and legal requirements.
•    Conduct a formal review of current investments, liquidity needs, and investment strategy.
•    Recommend improvements to align with council objectives.
•    In collaboration with council officer and finance and budget committee, develop and implement Investment strategies that enhance council portfolio performance.
b. Portfolio monitoring, risk analysis and performance reporting
•    Conduct ongoing risk tolerance assessments and asset allocation studies to ensure alignment with council objectives.
•    Provide quarterly portfolio performance reports, comparing returns to benchmarks, including creditworthiness of investments, market commentary, and future outlook.
•    monitor portfolio managers and ensure investment strategies align with risk tolerance and market conditions.
•    Provide daily market assessments of economic conditions and their potential impact on our portfolio.
•    Conduct searches and make recommendations for portfolio management service providers (money and fund managers).
•    Obtain a minimum of three bids for each trade and document all trades offered and awarded.
•    Evaluate market instruments for relative safety, liquidity, and yield to inform investment decisions.
c. Investment execution and compliance
•    Provide non-discretionary management of council investment portfolio, acting solely in an advisory capacity within the guidelines of the investment policy.
•    Execute securities transactions upon instruction by authorized council staff. 
•    Confirm trade details via email, followed by an official trade confirmation within five (5) business days.
•    ensure ongoing portfolio compliance with all policies, laws, and regulations, reporting findings quarterly.
•    Provide detailed monthly and quarterly reports on holdings, transactions, and performance in a format acceptable to council and compliant with all applicable regulations.
•    Establish and monitor performance benchmarks to assess portfolio effectiveness.
d. Governance, reporting and communication
•    Provide presentations and updates to council finance division, budget and finance committee, and board of directors as needed.
•    Attend budget and finance committee meetings on a quarterly basis to present performance reports and discuss investment strategies.
•    Maintain a secure online platform for statement access.
•    Offer ongoing training for council to maintain compliance with fiduciary duties and applicable legal standards.
•    Provide recommendations for custodial services and other relevant providers related to investment management and oversight.
e. Advisor requirements
•    Proven expertise and experience in advising municipalities or other public entities on investment related services.
•    Registered with the securities and exchange commission (sec) and the state securities board and to do business in state.
•    Preferably be independent of any financial institution or securities brokerage firm. 
•    Investment advisor lacking such complete independence shall fully and continuously disclose any relationships with any financial institutions and securities brokerage firms, and shall further disclose any commissions, bonuses, or soft-dollar payments received from any financial institutions and securities brokerage firms related in any way to the investment advisor’s relationship with council.
•    Demonstrate the capacity to research market instruments and evaluate for relative safety, liquidity and yield.
•    Along with their proposal their most recent version of the uniform application for investment adviser registration (form adv) submitted to the sec.

- Questions/Inquires Deadline: September 4, 2025