Video: Financial Consultants Pitch Investment Ideas to Lowndes County Supervisors
By: Steve Rogers
LOWNDES COUNTY, Miss. (WCBI)-Some financial consultants got their shot at a big pot of gold today. And Lowndes County leaders hope one of them will help turn $60,000 a year into at least one million. The county’s supervisors, sitting as the county’s reserve and trust fund, interviewed Stephens Capital Management, Wells Fargo Advisers and Renasant Wealth Management to help the county invest the $30 million dollars it has in trust from the sale seven years ago of the county hospital to Baptist. The money is earning only $60,000 a year now because of low interest rates. But a new law allows the county to invest in different types of funds. The county hopes whichever adviser is chosen will help generate at least a 3 percent return which can be used to finance other county projects such as roads and parks.