The Albemarle County (Va.) Service Authority has hired PFM Asset Management as its investment advisor, Director of Finance Quin Lunsford said, in an e-mail.

The authority chose PFM over finalist Davenport & Company because it felt the firm “most thoroughly meet the needs as documented in the RFP,” Lunsford said, adding the intent to award was posted on June 21.

The authority issued an RFP for services in January (fin|daily, 1/15) and had not previously worked with an external investment advisor, Lunsford said.

Six firms submitted proposals in the search process, added Lunsford, who did not disclose the names of the four other firms.