Utah County, Provo, Utah, hired Soltis Investment Advisors as investment consultant for its four defined contribution plans, pending final contract negotiations, said a purchasing official in an email.
An RFP was issued in June due to a policy that services be put out to bid every few years. Incumbent consultant NFP did rebid and was a finalist along with AndCo Consulting, the purchasing official said.
The county administers a supplemental 401(a) plan, a 401(k) plan, 457 plan and FICA Alternative Plan with $142 million in assets combined. Prudential Retirement is the record keeper for the plans.
It is anticipated that Soltis will assist the county in an upcoming record-keeper search, which is also being conducted due to the county's policy that services go out to bid every few years. Prudential will be invited to rebid. An RFP release date has not been set.