What defines an independent municipal advisor?

An independent municipal advisor is defined by their lack of affiliation with underwriting firms, which allows them to provide unbiased and objective financial advice to municipalities. This independence is crucial as it ensures that the advice is not influenced by the interests of any underwriting entities that may have a vested interest in a particular financial decision or outcome. By being free from affiliations with these financial institutions, independent municipal advisors can prioritize the best interests of the municipalities they serve, helping them navigate complex financial decisions and strategies without potential conflicts of interest. This independence bolsters the trust municipalities place in the advisor's recommendations, ensuring that they can effectively assess various financial options available to them without external pressures.