Avon, Colo., hired First Western Trust as investment consultant for its two 401(a) money purchase plans, confirmed Scott Wright, city finance director.
The two plans — with a combined $13.4 million in assets — did not previously have a consultant.
First Western Trust will create an investment policy statement and assist in a comprehensive review of the plans. Wells Fargo is the provider for the plans.
An RFP was issued in August.