Northampton Township, Pa., hired Wells Fargo Advisors as investment consultant to its uniformed and non-uniformed pension plans, with a combined $22 million in assets, confirmed Robert Armelin, finance director.
The township previously had two investment consultants for the two plans, CoreStates Capital Advisors and Stifel Nicolaus. Township officials wanted to use one consultant for both plans, Mr. Armelin said.
Smith Barney, Janney Montgomery Scott and Philadelphia Trust were the other finalists.
An RFP was issued in February.