IMCA has selected Mercer Investment Consulting, Inc. to manage its long-term investment reserves, concluding a search IMCA’s board of directors initiated in April.
FOR IMMEDIATE RELEASE
IMCA Selects Mercer to Manage Its Long-Term Investment Reserves
DENVER—October 25, 2012—Investment Management Consultants Association®(IMCA®) today announced that it selected Mercer Investment Consulting, Inc. to manage its long-term investment reserves, concluding a search IMCA’s board of directors initiated in April. During its search process, IMCA’s Finance, Audit and Investment Committee examined 22 candidates who responded to a request for proposal (RFP). James J. LaFLeur, CIMA®, senior associate at Mercer, will oversee the investment account.
“With more than 40 years of investment consulting services experience, Mercer brings a wealth of resources and knowledge to help us manage this portion of our portfolio,” said IMCA’s Treasurer, Margaret M. Towle, PhD, CPWA®. “As an association of experienced investment advisors and wealth managers, we feel we have chosen a highly-qualified and skilled candidate. We look forward to working with Mercer and benefitting from their professional expertise and advice.”
To be considered, at least one candidate on the team was required to hold the Certified Investment Management Analyst® (CIMA®) certification, the premier credential designed to measure competency in investment consulting. CIMA certification is the first financial services credential in the U.S. to meet an international standard for personnel certification (ANSI/ISO/IEC 17024). Candidates must also have been willing to sign a co-fiduciary agreement.
IMCA reevaluates its vendor relationships every three to five years as a best practice, and seeks an investment advisor to manage its long-term reserves to provide a fresh perspective and help avoid conflicts of interest.