UNSPSC 84121701: Investment advisers

UNSPSC 84121701 Investment advisers (Commodity) covers non-discretionary and discretionary investment advisory services that state and local governments procure to manage endowments, pension and deferred compensation plans, operating portfolios, bond proceeds, and specialized investment vehicles—work grounded in fiduciary duty, regulatory compliance, and performance benchmarking against policy-mandated objectives. State and local issuing bodies span higher-education institutions, county governments, municipal treasuries, retirement systems, public authorities, school districts, and special-purpose districts; repeat buyers include university endowment funds, county commissioners seeking long-term debt and capital finance advisory, municipal investment offices managing short-term liquidity, and deferred compensation plan sponsors across county and city governments. Recent activity shows a mix of non-discretionary advisory (quarterly monitoring and reporting), discretionary portfolio management (asset selection and rebalancing), fiduciary consulting (policy development and governance), and transaction advisory (secondary market sales, bond structuring, liquidity facility placement). Representative opportunities include Snow College's RFP SNOC26271023 (November 2026 response deadline) requesting endowment and foundation fund management and custodial services for approximately $34 million with monthly reporting and annual compliance review; City of Milpitas RFP 26-1396 (September 2026 response deadline) soliciting separate advisory contracts for a $265.4 million general investment portfolio and a $46.0 million Section 115 Retirement Trust; and Brazos River Authority RFP 26-1396 (August 2026 response deadline) seeking non-discretionary investment management for approximately $170 million in public funds under Texas law.

Geographic activity concentrates in Texas (multiple county treasurers, municipal authorities, and public funds entities), Florida (Hillsborough County, City of Sarasota, Orange County Transportation Authority deferred compensation advisories), California (City of Milpitas, Troup County endowment), Georgia (Douglas County financial advisory, Crisp County and Gwinnett County school district information requests), and Washington (Washington State Housing Finance Commission loan fund administration, Washington Student Achievement Council Shariah-compliance assessment, Washington Saves program administration and investment management). Recent procurements emphasize fixed-fee structures alongside basis-point pricing models, fiduciary registration requirements (SEC investment adviser or state equivalent), insurance minimums of $1 million to $2 million per occurrence in professional liability, and compliance with state public-funds investment acts and Government Accounting Standards Board reporting standards. Activity runs across RFP, RFQ, and ITN notice types with response windows of 30 to 90 days; several procurements require pre-bid conferences, interviews with top-ranked respondents, and cost-plus-non-cost evaluation weighting 40–50 percent on experience and qualifications and 20–30 percent on price.