Questionnaire Instructions to OFFERORS:
***DO NOT ALTER THE QUESTIONS OR QUESTION NUMBERING***
· Please complete all appropriate sections of the questionnaire. All OFFERORS must answer sections A through E, additionally, general consulting OFFERORS need to answer sections F through J, private equity consulting OFFERORS must answer section K, and private real estate consulting OFFERORS must answer section L. Where applicable, OFFERORS of more than one (1) service should provide responses to sections A through E that address each of the proposed services separately.
· Provide answers to the questionnaires in Word format using the template provided.
· Provide an answer to each question even if the answer is “not applicable” or “unknown.”
· Answer the question as concisely as possible.
• If the question asks, “How many...” provide a number.
• If the question asks, “Do you...” indicate Yes or No followed by any additional brief narrative explanation to clarify.
· IMPORTANT: Be concise in your response.
• Use bullet points as appropriate.
• Reconsider how to word any response that exceeds 200 words in length so that the response contains the most important points the OFFEROR wants displayed in the evaluation of responses.
• Referring the reader to an attachment for further information should be avoided or used on a limited basis.
• Any response that does not directly address the question, but only contains marketing information will be considered non-responsive.
· OFFEROR will be held accountable for accuracy and validity of all answers.
· RFP responses will become part of the contract between the successful OFFEROR and the EUTF.
· The submission of the OFFEROR’s proposal will be deemed a certification that the OFFEROR will comply with all requirements set forth in this RFP. If the OFFEROR is submitting a proposal for multiple investment consulting services, it will be assumed that all answers will apply equally to all options. If this is not the case, separate answers should be provided for each option.
NOTE: Answers to the questions must be provided in hard copy and WORD template format on CD - DO NOT PDF or otherwise protect the CD
The following questions are designed to provide information to evaluate the OFFEROR’s capabilities since the decision to award a contract will not be based solely on cost. OFFERORS should be concise with their responses, which should begin with the most important points the OFFEROR wants the Evaluation Committee to read. Where information is requested specific to an investment consulting services, the OFFEROR must provide a response for each category; “same as __” may be used where the information is identical to a prior category response.
A. ORGANIZATION PROFILE AND EXEPERIENCE
1. Provide your company's headquarters name and address, and the primary RFP contact's name, phone number, address (if different), fax number, and e-mail address. Provide the address of the office that will service this account.
2. Provide the legal entity name that will be represented on the contract should your organization be awarded this consulting mandate.
3. How many offices does the firm currently have? Where are the offices located? Please provide the address and phone number? What Specified Services are provided by each office and list the office location(s) from which the work for the Contract is to be delivered?
4. List all owners of the firm and describe the ownership structure by percentage. In addition, please state the name or entity of any one owner who controls more than 50% of the firm. Indicate any owners who are not involved with the ongoing management or daily affairs of the firm. Include an organizational chart with names, titles, and reporting relationships in Exhibit C. Include parent-subsidiary, affiliate, joint venture entities, or sub-advisory relationships as well.
5. Provide a brief history of your firm and its operation. Include the year formed, ownership structure, bios of the principals, affiliations and ownership changes in the last five (5) years.
6. Describe any significant developments in the organization which have occurred in the last five (5) years (changes in ownership, personnel reorganizations, etc.).
7. Describe any anticipated near term changes in the organization's basic ownership structure or any other significant changes in the organization.
8. Are there any current or future organizational issues (i.e., mergers, acquisitions, etc.) about your organization that we should know?
9. Describe the overall business objectives of your firm with respect to future growth. Comment on any present or planned areas of emphasis over the near future.
10. State and describe your organization's lines of business. Where does investment consulting for public plans fit within your organization as a service or product offering?
11. What do you consider to be your firm's consulting specialties, strengths, and limitations?
12. What percentage of your total business is represented by investment consulting services? Provide a percentage breakdown between general, private equity, and private real estate investment consulting if you are engaged in more than one line of business.
13. Describe your firm's overall business strengths, weaknesses and competitive advantages.
14. Over the last five (5) years has the firm, the Primary Consultant, or another officer or principal been involved in any business litigation, regulatory or other legal proceedings or government investigation involving allegations of fraud, negligence, criminal activity or breach of fiduciary duty relating to investment consulting activities? If so, describe and provide an explanation and indicate the current status.
15. Has your firm ever been censured by any regulatory body? If so, describe the situation.
16. Describe the levels of coverage for errors and omissions insurance or bonding and any other fiduciary or professional liability insurance the firm carries. List your insurance carriers.
17. If your firm maintains errors and omissions insurance coverage or any fiduciary or professional liability coverage, have any claims been filed in the last five (5) years? If so, provide an explanation and indicate the current status.
18. State whether or not your firm's employees comply with the Code of Ethics and Standards of Professional Conduct of the Association of the Chartered Financial Analyst Institute (CFAI).
19. Does your firm maintain a code of ethics? If so, attach as Exhibit D.
20. Provide a detailed summary of your firm's compliance policy. Identify senior or key personnel in the firm's compliance process.
21. Is your firm, its parent, or affiliate a registered investment advisor with the SEC under the Investment Advisors Act of 1940? If not, what is your fiduciary classification?
22. Provide a copy of your most recent Form ADV (Part I & II). Attach as Exhibit E.
B. stability, depth and experience of personnel
1. What is your approach to client servicing and what distinguishes this approach from other investment consulting service providers?
2. Explain how your firm controls the quality of service provided to your clients.
3. How are consultant's recommendations to clients reviewed and monitored by your firm? Does your firm adhere to a level of consistency in consultant recommendations? Describe any benchmarks the firm has developed to evaluate the firm's performance and the performance of the proposed primary consultant.
4. How is a servicing team structured around clients?
5. What is the typical client load of your client servicing/relationship manager?
6. Do any of the client servicing personnel proposed for the EUTF account have responsibilities other than providing consulting services? If awarded this contract will they continue to maintain those responsibilities? If not, which ones will be relinquished?
7. What is the last three (3) years' turnover of the client servicing staff?
8. Provide the names and bios of the proposed client servicing team members for the EUTF account.
9. How will this team be structured to best serve the needs of the EUTF?
10. Does your organization subcontract any of the services required by the EUTF? If so, list the contract vendor and subcontracted service functions as well as how long have you had the subcontract relationship with the named vendor. Also describe the skills and qualifications of the subcontractor and its employees who will be providing services for EUTF.
11. Describe your firm's back-up procedures in the event the key personnel assigned to this account should leave the firm.
12. Provide a brief description of your firm's compensation arrangements. What incentives are in place to encourage key professionals to remain at the firm?
13. Complete the table below for the proposed client servicing team.
Name / Location / Responsibility / Number of Client Relationships / Years with Organization / Years of Experience and Credentials14. Do any of the client servicing personnel proposed for the EUTF account service other public fund clients? If yes, specify the client names, contacts, email address, and telephone numbers.
15. Provide an estimate of the percentage of the Primary Consultant's time, as well as the time of other dedicated consultants, to the EUTF account.
16. List the Primary Consultant's current clients and engagements by asset size, type of client and type of engagement.
17. Provide an organizational chart showing functions, positions, and titles of personnel involved in public investment consulting services.
C. CLIENT RELATIONS AND REFERENCES
1. Provide the number of your organization's clients as categorized in the following matrix. Report aggregate values of their total asset market value in US$ millions for periods specified. Additionally, provide a list of current clients and attach as Exhibit F.
Total Tax Exempt Investment Consulting Clients Only
Period / Total Number of Clients / Asset Values (US$ millions)2011
2012
2013
2014
2015
2016
2. Provide the number of your organization's clients as categorized in the following matrix. Report aggregate values of their total asset market value in US$ millions for periods specified.
Public Fund Investment Consulting Clients Only
Period / Total Number of Clients / Asset Values (US$ millions)2011
2012
2013
2014
2015
2016
3. Provide the number of investment consulting accounts gained and/or lost for the periods listed in the following matrix. For clients lost, please indicate why. Report corresponding market values in US$ millions as of initiation date for clients gained and termination date for clients lost.
Total Tax Exempt Investment Consulting Clients Only
Period / Clients Gained (Number) / Clients Gained (US$ millions) / Clients Lost (Number) / Clients Lost (US$ millions)2011
2012
2013
2014
2015
2016
Public Fund Investment Consulting Clients Only
Period / Clients Gained (Number) / Clients Gained (US$ millions) / Clients Lost (Number) / Clients Lost (US$ millions)2011
2012
2013
2014
2015
2016
4. Provide your organization's client distribution as specified in the following table. Report aggregate market values of total assets in US$ million as of December 31, 2016.
Distribution / Number of Clients / Number of Plans/Pool of Assets / Aggregate Market Value (US$ Million)Taft Hartley-Union
Below $500 million
$500 million to $1 billion
$1 billion to $5 billion
$5 billion and Up
Corporate
Below $500 million
$500 million to $1 billion
$1 billion to $5 billion
$5 billion and Up
Public Fund
Below $500 million
$500 million to $1 billion
$1 billion to $5 billion
$5 billion and Up
Endowments & Foundations
Below $500 million
$500 million to $1 billion
$1 billion to $5 billion
$5 billion and Up
TOTAL
5. Provide a list of no more than three (3) public fund client references (at least one (1) of which must be or administer a public health and welfare or public pension fund). The list, attached as Exhibit F, should include the following information:
a. Fund Name;
b. Contact Name(s);
c. Address;
d. Telephone Number(s); and
e. Email Address(es)
D. RESEARCH
1. Describe the internal structure and organization of your firm's research department. If no separate department exists, describe how this function is structured. What percent of the firm's revenues are annually reinvested in the firm's research function?
2. Describe the types of research conducted by your firm’s research department.
3. Describe the manner in which internal and external resources and sources of information are used in the research process. How does the firm integrate internal and external research?
4. Describe in detail the type and frequency of research that would be provided to the EUTF. Through what media is it provided? Does the firm provide research reports other than those specifically requested by the client? If so, please describe. What research and analytical resources (including databases) does the firm possess that the firm would be willing to provide the EUTF?
5. Attach as Exhibit G one (1) of the firm's sample research reports. Provide a listing of research generated during 2015 and 2016, which includes title of research, date of issue, author and single line description of the subject.
6. Does your firm perform topical research on investment trends, products, strategies, etc.? If so, provide samples and attach with Exhibit H.
7. Outline the process for monitoring and reporting on market trends. Describe the capabilities for reporting and tracking international trends and influences.
E. INDEPENDENCE OF JUDGMENT AND FREEDOM FROM CONFLICTS OF INTEREST1. How does your firm identify and manage conflicts of interest?
2. Are you aware of any situation regarding your firm that may be considered a conflict of interest with the EUTF?
3. Are you aware of any situation regarding your firm that may lead to a potential conflict of interest with the interests of the EUTF?
4. Describe in detail any potential conflicts of interest your firm may have in providing services to the EUTF. Include any activities of affiliated or parent organizations, brokerage activities, investment banking activities, or any past or current relationships with the EUTF and/or its staff. Include any other pertinent activities, actions, or relationships not specified in this question.
5. Detail any financial relationship which exists with affiliated or other related organizations; e.g., brokerage firms, insurance companies, commercial banks, investment management firms, investment operating companies, etc.
6. Does your firm provide any services for which it is compensated by these organizations? If so, describe in detail, including the managers, products and services provided.