Bloomington (Ill.) Firefighters' Pension Fund hired Wall & Associates as its investment consultant, said Carl Reeb, the pension fund's secretary, in an email.
An RFP was issued in July.
Mr. Reeb said the incumbent, Mischler Financial Group, qualified as an investment brokerage firm and did not rebid.
According to Mr. Reeb, the pension fund could no longer use a broker directly without having an investment consultant or money manager in place.
The pension fund has about $55 million in assets.