Appendix C Request for Clarification Form.pdf

This document is an Appendix C Request for Clarification Form issued by the Florida Prepaid College Board for Invitation to Negotiate (ITN) 25-01 seeking Investment Consultant Services for the Florida 529 Savings and ABLE Programs. The form allows potential respondents to submit written questions or requests for clarification regarding the solicitation, with spaces to note the specific ITN section, page number, and detailed question or comment. The procurement seeks an independent investment consultant to provide comprehensive services for two investment programs totaling approximately $1.6 billion in assets, with critical dates including a written clarification request deadline of January 27, 2025, a response deadline of February 28, 2025, and an anticipated contract effective date of July 1, 2025. The contract will have an initial five-year term with five potential one-year renewal options, contingent upon satisfactory performance and funding availability.

The compensation structure will be a quarterly fee for ongoing investment consultant services, with additional hourly rates for special consultation services capped at $10,000 annually unless otherwise approved by the Board. While no incumbent vendor is specifically identified, this represents the first time the Board is contracting separately for investment consulting services for both the Florida ABLE and Savings Programs. The current investment infrastructure includes multiple investment options across various asset classes, with fund fees ranging from 0.02% to 0.77%, managed through investment managers like Vanguard, DFA, Blackrock, Eaton Vance, and Wellington. Respondents must have a minimum of 5 years of experience providing investment consulting for institutional clients, with specific requirements of being lead consultant for at least one state's 529 Savings Program and one state's ABLE Program. The evaluation will be based on a 100-point scale, with points allocated across organizational experience, reporting, consulting services, investment manager search services, and pricing schedule.