RFP - Investment Advisory Services

Background
The City of Bell, California, is seeking proposals from qualified firms for the provision of professional investment management and advisory services. The City desires an experienced team to oversee the investment of all funds. The initial term will be three years, with two one-year options thereafter, which may be exercised at the City’s sole discretion.

The City of Bell is a Charter City located in the Los Angeles metropolitan area, approximately 10 miles southeast of downtown Los Angeles. It has a population estimate of 32,466 and employs approximately 185 staff members. The City has various funds including general fund, special revenue funds, debt service funds, capital project funds, special assessments, and trust funds.

Work Details
The requested services include:
A) Full-time non-discretionary management of the City’s investment portfolio under advisement;
B) Compliance with all federal and state laws and city policies;
C) Assistance in developing and implementing investment strategies to maintain or enhance portfolio quality;
D) Coordination of investment trades, security delivery, fund availability, trade settlement assistance, market research, and yield curve analysis;
E) Due diligence reviews of brokers and financial institutions;
F) Reporting on investment portfolio activity and performance following GAAP and GASB standards;
G) Serving as a resource for city staff regarding fixed-income securities and investments;
H) Providing objective advice to the Finance Director;
I) Assisting in risk control for the safety of assets unrelated to market risk;
J) Developing cash flow projections consistent with liquidity requirements;
K) Providing monthly statements on investment activity including mark-to-market valuations as required by GASB 31 and 40;
L) Annual information necessary for proper classification of investments according to GASB72 Fair Value Hierarchy;
M) Quarterly investment reports including market conditions and suggested changes to strategy;
N) Presenting to city staff and leadership as directed.

Period of Performance
The contract will commence on July 1, 2026, with an initial term of three years and two optional one-year extensions.

Place of Performance
City Hall, 6330 Pine Avenue, Bell, CA 90201.

Bidder Requirements
Proposers must provide evidence of qualifications including experience managing public funds for governmental entities. They must also demonstrate compliance with federal regulations such as being a registered investment advisor under the Investment Advisor’s Act of 1940. Additionally, proposers should summarize their insurance coverage including fidelity bond coverage.