Investment Advisory Services

Background
The City of Westerville, Ohio, established in 1858, serves a population of approximately 40,000 residents. It is recognized for its innovative public services and is home to several Fortune 500 companies. The City aims to enhance its portfolio of short-term and long-term investments through professional investment advisory services, ensuring compliance with the Ohio Revised Code, the City’s Charter, and its Investment Policy.

Work Details
The selected contractor will provide professional investment advisory services including:
- recommending and implementing investment transactions;
- issuing transaction advice to the Director of Finance;
- coordinating settlement processes with the custodian bank;
- monitoring credit worthiness of financial institutions;
- providing monthly and quarterly reports on portfolio activity;
- ensuring compliance with applicable laws;
- participating in quarterly investment advisory committee meetings;
- providing market value assessments for portfolio holdings; and
- offering high-touch customer support.

Additional expertise may be required in cash management consulting, bond interest accounting, and arbitrage rebate calculations.

Period of Performance
The contract will commence on January 1, 2027, and will last for three years until December 31, 2029. There is an option for renewal for up to two additional one-year periods.

Place of Performance
The services will be performed in Westerville, Ohio.

Bidder Requirements
Firms must be registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act. Responding firms should have at least ten years of experience in investment advisory services and provide evidence of errors and omissions insurance coverage.