3.1.1.1. Municipal Advisor
Municipal advisors provide advice to, or on behalf of, municipal entities. The municipal advisor has a fiduciary duty to the municipality, which means it must act in the municipality’s best interests and put the municipality’s interests before its own. Municipalities engage municipal advisors to help them through the process of issuing securities. Municipal advisors must register with the SEC.
The type of municipal advisor you will need to know about for the 52 is a financial advisor. The financial advisor is a consultant retained by the issuer to advise and assist in creating a financing plan for the debt issue. A financial advisor is usually a bank, investment bank, or private consultant.
In general, the role of the financial advisor is to:
• Review the financial feasibility of the project and assess the issuer’s sources of revenue
• Assess the issuer’s abili