Public Financial Management (PFM) opened its first office in Philadelphia in 1975 with a staff of five. But even from this modest beginning, PFM had a distinct advantage over the competition: we understood the need to create a financial services firm exclusively for the benefit of government clients. PFM quickly developed a bold vision that still guides us today – a vision for generating client success that involves three key elements: (1) Independence - Build a financial advisory firm beholden only to its government clients; (2) Expertise - Attract, train and retain a public finance team equal to that of any Wall Street investment bank; and (3) Service - Offer comprehensive, cost-effective programs and provide consistent, high-caliber service.