Investment Advisor Services

The Vendor is required to provide investment advisor will be a key partner in the management of the county's investment portfolio, estimated total $80,000,000.00.
- Requirement:
• Actively research and provide investment recommendations/opportunities to achieve the investment goals of the county.
• Be a registered investment advisor as defined and regulated by the commission and be registered with the board.
• Be either completely independent of any financial institution or securities brokerage firm; or fully and continuously disclose any relationships with such financial institution(s) and securities brokerage firm(s), and further disclose any commissions, bonuses, or soft-dollar payments resulting from the firm’s relationship with the county.
• Indicate full understanding of investment policy by submitting a written acknowledgement annually.
• Take no possession of county monies or investment securities, nor have access to or control over such monies and securities.
• Be knowledgeable of and comply with state law and the ordinances and policies of county.
• Review investment policy annually and recommend appropriate amendments.
• Review the present investment management procedures and documentation and propose improvements.
• Assist in developing and implementing investment strategies that will enhance portfolio performance under current and anticipated changes in market conditions within the parameters of established investment policies and cash flow needs.
• Make presentations to the county’s investment committee, as needed, to support recommendations relating to investment strategy.
• Non-discretionary management of the county’s investment portfolio by acting solely in an advisory and administrative capacity within the guidelines of the county’s investment policy.
• Provide daily, timely assessments of the market including market reaction to economic events.
• Execute securities purchases/sales upon written instructions from authorized county staff. After a trade is executed, the advisor must confirm to the county by email or fax all details of the trade including the dealers contacted and the prices received.
• An official trade confirmation must be mailed to the county within five business days of the transaction.
• The county is responsible for instructing the county’s bank depository to either accept or deliver securities transacted through the advisor.
• Obtain a minimum of three offers/bids for each trade and provide monthly reports documenting total trades offered and awarded to each dealer.
• Provide detailed monthly reports, in a format specified in state code and acceptable to the county.
• Attend investment committee meetings and present quarterly performance reports which shall include current information regarding the creditworthiness of investments in the portfolio, total return comparisons of the county’s portfolio to the established index for the quarter and since inception; and market commentary and future outlook as it pertains to the county’s portfolio.
• Demonstrate the capacity to research market instruments and evaluate for relative safety, liquidity and yield.
• Keep the county apprised, in the form of a written report, of any proposed or enacted legislative changes that could directly impact the management of the portfolio.