Commissioners obtain the services of a professional financial advisor | Local News

The county commissioners hired a financial advisory firm in hopes of improving the county’s returns on its investments.

On the recommendation of Williams County Treasurer Kellie Gray, commissioners signed a one-year deal with Cincinnati-based Redtree Investment Group on Thursday after reviewing details of the deal and general discussion of some plans specific action with Ryan Nelson of Redtree.

Gray explained that rates of return on the county’s investments, a portion of its certificates of deposit (CDs) with local banks, have plummeted, so she has been looking for new avenues and better rates of return.

She said she’s had the opportunity to speak to other county treasurers and that Redtree came highly recommended, with Defiance and Paulding counties using them, “and they’ve been very successful,” Gray said. to the Bryan Times after the meeting.

It is expected that Redtree will find financial vehicles with better rates of return and have the technical knowledge and licenses that Gray does not have to make more profitable transactions.

“(Redtree) has the license and are able to do things that a local bank can’t and they have the knowledge to meet ORC (Ohio Revised Code) requirements,” said Gray, who has was appointed County Treasurer in March 2019.

Gray completed the term of Vickie Grimm, who was elected to the county auditor position in 2018, replacing Julie Beagle, who did not seek re-election. Gray was elected to a full term in November 2021 and Grimm is seeking re-election unopposed in November.

Gray said the county has always strongly favored working with local banks, “but rates have fallen. Rates are low enough that it’s time to move (some county investments) to get a better rate of return.

“We think (Redtree is) going to find us a better rate of return,” she said.

Redtree’s fee is $15,000 for the one-year deal starting this month, with fees for specific specialized transactions.

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