Carmel selects investment advisor representative

Submitted by City of Carmel

Following a comprehensive search process, the City of Carmel selected an investment advisor representative to support its 457(b) and 401(a) deferred compensation plan for employees, former employees, and retirees.

HUB International was unanimously selected as the most qualified investment advisor for the city, given the firm’s innovative approach to guiding employees in investment decisions.

Finkam

Part of a comprehensive review of all financial contracts in support of Mayor Sue Finkam’s commitment to ensure the financial well-being of the city and its workforce, the pursuit of an advisor was supported by representatives from fire and police unions, as well as specialists in retirement education, human resources, and finance.

“HUB International showed that they can provide unique educational opportunities at the local level,” Carmel Fraternal Order of Police President Blake Lytle said. “They will provide continuous contact with the employees and the city as well as have access to national resources. With each employee having a unique situation, it is reassuring to have a partner in your backyard that can pull resources from across the United States.”

Mayor Finkam said the selection process included an emphasis on fiscal responsibility, enhanced services to employees, and technological advancements.

“We have a strong commitment to continually improve the services and benefits we offer to our dedicated city employees,” Mayor Finkam said. “Our financial well-being is a priority for this administration, and this partnership will further enhance services for our employees.”

Kristi Baker, managing partner with HUB International, said the firm is excited to partner with Carmel in managing a successful retirement plan that supports overall financial wellness.

“We are most looking forward to working with the city employees to instill confidence in how to achieve their retirement goals,” Baker said.

The contract with HUB International is expected to be finalized later this month, with the firm serving city employees beginning in January 2025.