Westfield (Mass.) Contributory Retirement System hired Fiduciary Investment Advisors as investment consultant, said Liam Browne, executive director.
The $212 million pension fund issued an RFP in February for a firm to conduct periodic asset allocation studies. While FIA will be on an ongoing contract, the firm has been hired to conduct studies as needed and will not be advising the pension fund's board on a regular basis, Mr. Browne said. The RFP also invited firms to provide risk mitigation strategies.
Aberdeen Standard Investments and Meketa Investment Group were the other finalists.