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Council approves agreement with Chandler Asset Management for investment advisory services
Summary
The council voted unanimously to award investment advisory services to Chandler Asset Management after staff review of four proposals and committee interviews; council members discussed fee levels and whether the work could be done in-house.
The Oviedo City Council voted unanimously on Jan. 6 to approve Resolution No. 4552-25, awarding investment advisory services to Chandler Asset Management.
Deputy Mayor (meeting facilitator) introduced the item as a request to select a firm after a city request for proposals produced four responsive submissions and a staff committee shortlisted two firms for interviews. Staff recommended Chandler Asset Management.
Mayor Sladek said he had initially calculated fees on a roughly $60,000,000 portfolio and thought the annual fee would be about $378,000, and questioned whether hiring an in-house person could be less costly. A staff presenter asked the council to review the presentation page showing the cost breakdown; after a decimal error was corrected, the mayor said he had “no problem.” The presentation and the council’s discussion did not change the recommendation to approve Chandler.
Council member motions obtained a second and the clerk called a roll-call vote. The clerk recorded unanimous approval.
The council did not attach additional conditions or amendments to the contract during the meeting. Staff indicated the selection followed the city’s procurement process: request for proposals, committee scoring, interviews, and recommendation to council.
