This RFP format is designed to solicit succinct, easy-to-follow responses. This format may be particularly valued by volunteer board members who are “stretched for time” since responders are limited to 25 pages or less.
It also works well when organizations have identified a mid-sized pool of respondents, allowing staff and committee members to easily evaluate a broad spectrum of candidates at a high level.
[Your Organization’s Name] is inviting proposals for professional investment management and support services, including management of unrestricted, restricted and endowed assets, as well as ad-hoc support services for our staff and board of trustees. [Your Organization’s Name] currently has $X in its [name of asset pool(s)]. Please find attached a copy of our most recent investment policy and statement of holdings.
[Insert brief description of your organization, its mission and constituency. Also provide a short profile of the style/ approach your organization has leveraged to date in the management of the assets in question, as well as any standard reporting, meeting and/or staff/board support that your organization is currently receiving from the incumbent or desires to receive from the winning proposer.]
Proposals should include the following information:
- An Executive Summary, highlighting the essential elements of your proposal.
- Brief history of your organization, including your structure, years experience delivering the requested services and your nonprofit sector expertise. Please include your firm’s errors and omissions policy, and indicate whether there has been any litigation against your firm in the last 5 years. Please indicate all government (federal and state) regulatory agencies responsible for oversight of your firm.
- Your client service philosophy and model, including office location from which our account will be served and professional profiles of the individuals to be assigned to [Your Organization’s Name]. Please include 3 to 5 client references, of which at least 2 should be similar in size and geography to [Your Organization’s Name].
- A description of your firm’s investment philosophy, methodology, asset allocation process, due diligence process (including buy/sell discipline) and portfolio construction process. Indicate whether your firm is willing to accept fiduciary responsibility and whether you take investment discretion.
- A sample portfolio and any recommended changes to our investment policy. Please include your firm’s most recent “best thinking” regarding expected returns over the next 6 to 12 months. Sample portfolios can be developed based on our investment policy and current holdings, as included with this request for proposal.
- A description of reporting available, including portfolio level reporting, performance analysis, account level reporting and online account access. Please provide a weblink where we may view a demonstration of your firm’s online account access offering.
- A description of the type of support services your firm can provide [Your Organization’s Name], including fiduciary support for the Board, Board or staff member education, technological efficiencies or strategic planning resources. Please indicate how these services support our staff and/or board members, particularly in the areas of administration and governance.
- Your fee structure, including both “all in” fees as well as itemized fees for each service proposed. Please include all investment management, 12b1, advisory, administrative, commission, transaction, “wrap” or other fees associated. Please indicate any fees paid to your firm or individuals assigned to our account by third parties. Indicate how long your fees are guaranteed. *PLEASE NOTE: failure to provide full and complete fee disclosure will result in immediate disqualification from this search.
Please provide an electronic copy and one (1) hard copy of your complete proposal to [insert receiving individual] at [insert receiver’s eMail address] by 5:00PM, [insert date]. Proposals will be reviewed by [indicate reviewing body]. Your proposal should not exceed 25 pages in length, excluding attachments. A small number of organizations may be asked to present their proposal to [Your Organization’s Name] and our Board at a later date.
We sincerely appreciate your interest in [Your Organization’s Name] and welcome your proposal. Please direct any questions regarding process to [Insert Contact Person’s Name, title, email and phone number].
[Your Organization’s Name and/or contact person’s name]