Investment Advisor

The City of Saco is seeking an investment advisory firm to provide passive portfolio‑management services for its cash balances, emphasizing principal preservation and modest interest earnings. The advisor must assess needs, develop a compliant portfolio, deliver ongoing reporting, and meet specific insurance and regulatory requirements outlined in the City’s Investment Policy. Proposals must be submitted electronically by the July 1 2022 deadline, and a public opening will occur the same day. • Scope includes a needs assessment, monthly performance reporting, compliance with GASB 31/40, and submission of a draft advisory contract. • Required deliverables: detailed fee structure, insurance certificates (minimum $1M general liability, $2M aggregate, $2M professional liability, etc.), and a vendor information form. • The City imposes strict investment constraints (U.S. Treasury, high‑grade commercial paper, money‑market funds, etc.) and diversification limits, so the firm must demonstrate experience with municipal investment regulations in Maine.