Investment Advisory Services

The Vendor is required to provide for professional investment advisory services aimed at enhancing the city’s portfolio of short-term and long-term investments at a competitive price. 
- Largely, the services required shall include the recommendation and implementation of appropriate investment transactions, according to the Code, the City’s Charter, and the City’s Investment Policy.
- Advisory professional may also be called upon to provide expertise in additional services such as cash management consulting, bond interest accounting, and arbitrage rebate calculations.
- Issuing transaction advice to the Director of Finance, evidencing the purchase and sale of eligible securities, and provide same transaction advices to the City’s custodian bank, which will include details of the transaction and serve as an authorization to such custodian bank to settle investment transaction on a delivery vs. payment basis.
- Monitor the credit worthiness of financial institutions and investments in the portfolio.
- Participate in scheduled quarterly investment advisory committee meetings, participate in a Finance Audit Committee briefing once per year, and/or City Council meetings, if requested by the Director of Finance.
- Interface with the City’s investment custodian and City staff to assure the coordination of investments, delivery of securities and availability of funds as needed.
- Provide market value for all portfolio holdings, monthly interest projections, and annual GASB information needed by City staff concerning investments.
- Secure and maintain errors and omissions insurance coverage throughout the duration of their work with the City.