PFM Advisors' OPEB Practice Passes $1 Billion Mark in Assets

PHILADELPHIA, Sept. 21 /PRNewswire/ -- PFM Advisors' OPEB (Other Post-Employment Benefits) practice passed an important milestone on August 31, reaching $1 billion in assets under advisement and further cementing its reputation as one of the nation's leading OPEB advisors. PFM Advisors, a division of PFM Asset Management LLC, provides investment consulting and asset management services, as well as strategic consulting and plan benefits, to OPEB clients around the country. The firm's current client base includes approximately 40 clients with roughly $550 million in discretionary managed assets and $450 million in investment consulting assets.  Additionally, PFM Advisors has approximately $85 million in committed assets for discretionary OPEB management, which it expects will be invested this year.  

(Logo:  http://photos.prnewswire.com/prnh/20091028/PH00754LOGO-b )

(Logo:  http://www.newscom.com/cgi-bin/prnh/20091028/PH00754LOGO-b )

Creating sustainable OPEB plans is an increasingly important area of financial management as governments and other not-for-profit institutions as well as businesses struggle to fund benefits for retirees in a challenging investment environment.  The PFM Group of companies has considerable expertise in general governmental finance, budgeting and strategic advisory services, and investment management, as well as a longstanding commitment to independent advisory services for state and local governments. PFM Advisors has built its impressive OPEB totals in only three years, starting in 2007 and growing to a roster of clients in eleven states. In coordination with actuaries and auditors,  PFM Advisors provides consulting across the country to state and local governments to help them rationalize benefits and create sustainable benefit plans.

The PFM Group of companies currently employs more than 430 individuals serving a broad base of clients from 34 offices located in every region of the country. The firm is well-respected for providing clients with independent advisory services free of conflicts in dealings with the capital markets. At the end of second quarter 2010, Public Financial Management retained its position as the top ranked financial advisor in the nation in overall new issues. In the first half of 2010, PFM advised clients on $27.2 billion of total debt in 467 separate transactions. In addition, at June 30, 2010, PFM Asset Management LLC managed $35.7 billion in assets for state and local governments and non-profit institutions, and provided non-discretionary advice for an additional $2.2 billion in fixed income securities.

SOURCE The PFM Group