Municipalities and Institutions
Flynn Financial has developed a niche investment advisory practice serving institutions, municipalities and public agencies. We pride ourselves on providing a personal and collegial level of service on an institutional level. We have served as an investment steward for institutions, municipalities and non-profits, managing portfolio volatility through a variety of market cycles.
We have a clearly defined process when working with institutional clients:
1. Investment Policy Statement & Spending Policy Review
Before we make any recommendations, we take the time to review your investment policy statement(s) to ensure the guidelines and objectives are aligned with the type of asset (e.g. Rate Stabilization Fund).
Additionally, we emphasize the policy that is in place for spending (money-out) can be just as important as investment (money-in) management. Thus, we work to drive to a spending policy that meets trustee objectives, applicable legal requirements while managing the Foundation’s balance between maintaining long term sustainability and annual budgetary needs supported by the Foundation. We can employ a multitude of spending strategies (i.e. inflation-linked, dividend only, straight line, stabilization fund, etc.), but find it best to fully outline and define the process and most importantly, adhere to it.
2. Initial Portfolio Recommendation
Once the IPS has been amended—if necessary—we develop a custom portfolio taking full advantage of the permitted investments within the IPS with a focus on safety, liquidity, yield, and growth. This portfolio could be comprised of U.S. Treasury and Agency bonds, taxable Municipal Bonds, in addition to investment-grade corporate bonds, individual equities and exchange-traded, indexed, or active mutual funds, where appropriate and in the best interest of the client.
3. Fiduciary and Compliance Support
We recognize that investment committees and Treasurers have many responsibilities in addition to managing their institution’s investment funds. We provide detailed reports to help you meet the Governmental Accounting Standards Board’s generally accepted accounting principles for accounting. We also provide performance reports that compare the portfolio’s returns against relevant benchmarks as required by the IPS.
4. Investment Selection and Monitoring
As your advisor and a co-fiduciary, we utilize competitive proprietary research and analysis with complete objectivity in selecting and monitoring investments. We provide thorough documentation of the replacement process and deliver a quarterly fiduciary review in compliance with the guidelines of the IPS.
5. Ongoing Education & Spending Policy Development
We provide ongoing economic commentary, timely market perspectives and periodic newsletters on investment topics that are relevant to institutional, municipal, public agency and non-profit assets. Timothy Flynn is regularly called upon by County Treasurers, municipal committees and utility managers to deliver engaging on-site presentations to share the firm’s insights and perspectives on financial markets and the economy.