Investment Advisory Services

Investment Advisory Services in order of importance, are:
(i) the safety and preservation of principal;
(ii) maintenance of sufficient liquidity;
(iii) a reasonable and competitive rate of return; and,
(iv) an emphasis on local community investment.
- Investment Adviser shall:
• Have a minimum of five years of experience managing public sector investment portfolios, including fixed-income securities and, where applicable, diversified equity investments.
• Assign an account manager to the City account with a minimum of five years of experience in investment management.
• Demonstrate familiarity with all applicable Wyoming statutes with regard to qualified investments for public entities.
• Adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.
• Be registered with the Securities and Exchange Commission (“SEC”) as an investment adviser and be in compliance with all applicable notice filing and registration requirements of the Wyoming Secretary of State, including requirements applicable to investment adviser representatives providing services to the City.
• 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/or securities brokerage firm(s), and further disclose any commissions, bonuses, or other payments resulting from the firm’s relationship with the City as well as soft dollar arrangements, revenue sharing, referral arrangements, securities lending, and proprietary products.
• Take no possession of City monies or investment securities, nor have access to or control over such monies and/or securities. Account assets must be held in a segregated account with a custodian approved by the City. The investment adviser shall not take custody of City funds or securities.
• Comply with Wyoming State law and the ordinances and policies of the City of Cheyenne.
• Assist with periodic review of the Investment Policy Statement and Portfolio Guidelines to ensure compliance with Wyoming law, industry best practices, and evolving market conditions.
• 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 the established Investment Policy and the City's cash flow needs.
• Make presentations to the City’s Investment Committees, as needed, to support recommendations relating to investment strategy.
• Manage the City’s investment portfolio with non-discretionary or discretionary authority. Discretionary authority will be approved specifically on a case-by-case basis. The City is currently open to both types of arrangements. Describe the advantages, disadvantages, governance requirements, and transition process associated with each management approach. Explain your firm's transition process for assuming management of the City's existing investment portfolio, including anticipated timeline, coordination requirements, and potential transaction considerations.
• Provide timely assessments of the market including market reaction to economic events.