County Hires Financial Advisor to Protect Credit Rating


16 April 2009
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Financial advisors can get hired for some surprising jobs outside the expected corporate environment.

Clayton County, a county in Georgia with a population of over 230,000 people, hired a financial advisor to try and prevent the county's bond rating from being marked down by Moody's Investor Services, according to reports in the Atlanta Journal-Constitution. The unusual step of hiring Jerry Cutrer of Headlands Capital Corp passed by a 3-2 margin.

The county's budget projects a $9 million deficit this fiscal year, and Moody's will make a decision about the county's credit rating at the end of May. A downgraded rating could make it harder for the county to get loans, and raise the interest rates on loans it can get, costing millions of dollars to taxpayers. Cutrer's job is, reportedly, to stop all that from happening.

Financial advisors are in high demand and the Bureau of Labor Statistics only expects that demand to grow. Jobs for personal financial advisors are expected to grow by 41 % over the 10 years from 2006 to 2016. However, people interested in this career should know that competition for these high-paying jobs is usually high.ADNFCR-1502-ID-19124766-ADNFCR

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