ESBD_504456_1775857236208_RFP Investment Advisory Services_FINAL DRAFT.pdf

REQUEST FOR COMPETITIVE SEALED PROPOSALS (RFP)

for

Investment Advisor Services

Title: WCJC-RFP Investment Advisor Services

Solicitation ID: 26_00001 Issue Date: Saturday, April 11th 2026

Proposal Due Date & Time: Wednesday, May 13th 2026 at 3:00 p.m.

Contact:

Clarissa Bueno Director of Purchasing

Wharton County Junior College

WHARTON COUNTY JUNIOR COLLEGE

REQUEST FOR COMPETITIVE SEALED PROPOSAL (RFP)

INVESTMENT ADVISOR SERVICES

TABLE OF CONTENTS

CONTENTS PAGE NUMBER

Section 1 – Introduction 4

Section 2 – Background 4

Section 3 – Scope of Work 5

Section 4 – Proposal Requirements 7

Section 5 – Evaluation Criteria (Best Value) 8

Section 6 – Submission Instructions 8

Section 7 – Questions and Addenda 8

Section 8 – Contract Terms 9

Section 9 – Reservation of Rights 9

Section 10 – Public Information 9

Section 11 – Addenda 9

Attachment A – Pricing Proposal Form 11

Attachment B – Sample Contract 13

Attachment C – Conflict of Interest Questionnaire 16

Vendor Submission Checklist 17

KEY DATES/MILESTONES AND CONTACT INFO:

RFP RELEASE DATE: Saturday, April 11th 2026

WRITTEN QUESTIONS DEADLINE: Wednesday, April 29th 2026

PROPOSAL SUBMITTAL DEADLINE: Wednesday, May 13th 2026

PROPOSAL DELIVERY LOCATION:

911 Boling Highway, A-107A Wharton, Texas 77488

AWARD BY BOARD OF TRUSTEES: TBD

REVIEWING & EXECUTION OF

CONTRACT:

TBD

ON-SITE START OF SERVICE: TBD

Dates outlined are subject to change.

All Questions/Clarifications related to this RFP are to be directed via email to:

buenoc@wcjc.edu

1. Introduction

Wharton County Junior College (“WCJC” or “College”) is soliciting Competitive Sealed Proposals from qualified investment advisory firms to provide comprehensive investment advisory services for all College investment assets, including the College’s Endowment Fund, as well as advisory services related to capital project financing.

The College invites proposals from firms with demonstrated experience serving public institutions of higher education and managing portfolios similar in size, complexity, and fiduciary oversight requirements. WCJC intends to award a contract to the proposer whose proposal provides the best value to the College.

2. Background Wharton County Junior College (WCJC) is a public, two-year, comprehensive community college. The college offers courses at four campuses in Wharton, Sugar Land, Richmond, and Bay City. In addition, the college offers classes in El Campo. We serve a diverse population with a variety of post-secondary educational programs and services, including associate degrees, certificates, workforce training, cultural affairs, and leisure-time activities. The college's tax district encompasses Wharton County and the Needville Independent School District located in Fort Bend County. WCJC has a service area that includes Wharton, Matagorda, and Colorado counties, as well as parts of Fort Bend, Jackson, and Austin counties. Our goal is to help all of our students reach their goals.

The College’s investments for all funds excluding the Endowment fund are governed by the College’s investment policy and reflect compliance with the Texas Public Funds Investments Act, Chapter 2256.023. Investments for the Endowment fund are governed by the College’s separate Endowment Fund Investment Policy. These Policies are reviewed and adopted by the College Board of Trustees (the “Board”), annually, in accordance with Government Code

2256.005 (e). The Board delegates day to day management responsibility for investment activities to designated investment officers who along with an Investment Committee serve in a decision making capacity on college investments and ensure that the college is in compliance with the college's investment policy and the Public Funds Investment Act. The College’s Investment Committee meets at least quarterly to review investment performance and strategy.

The college has separately contracted for securities clearing and safekeeping with Zions Bancorporation, N.A. (“Custodian”). All college securities will be held at the Custodian in the name of Wharton County Junior College.

In addition, the College periodically undertakes capital projects requiring debt issuance and financing strategies. The College is seeking an advisory partner to:

Provide fiduciary investment advisory services Assist in reviewing and refining investment policy Monitor and report portfolio performance Support capital financing strategies and debt structuring Provide ongoing education to staff and Board

3. Scope of Work The selected firm will provide advisory services including, but not limited to:

I. Non-discretionary portfolio management services for the College’s Public Funds portfolio governed by the Public Funds Investment Act;

II. Investment advisory services for the College Endowment Fund; and III. Capital project and debt financing advisory services, including debt structuring and coordination with underwriters and bond counsel.

CATEGORY I

PUBLIC FUNDS INVESTMENT ADVISORY (NON-DISCRETIONARY)

Minimum Service Requirements:

The Investment Advisor shall:

Be a Registered Investment Adviser with the SEC and registered with the Texas State Securities Board.

Be independent of any broker/dealer or fully disclose all compensation arrangements.

Take no possession of College funds or securities.

Provide non-discretionary management within College policy parameters.

Review and recommend changes to the College’s Investment Policy annually, incorporating state legislative changes.

Assist in developing fund-specific strategies for:

o Operating Funds o Plant Funds

Provide daily market information and rate updates.

Execute trades only upon verbal or written instruction from authorized College staff.

Obtain a minimum of three bids/offers per transaction.

Provide written trade confirmations.

Assist with PFIA-compliant quarterly reporting including:

o Book and market value reporting o Interest earnings o Maturity schedules o Performance vs. benchmarks o Compliance statements

Monitor credit ratings quarterly and notify the College of downgrades.

Provide continuing education for Investment Committee members and Board Attend quarterly Investment Committee meetings and present performance reports.

CATEGORY II

ENDOWMENT INVESTMENT ADVISORY

The Investment Advisor shall:

Act as fiduciary to the Endowment.

Construct and manage portfolios within approved asset allocation bands.

Recommend asset allocation adjustments.

Provide security/fund selection consistent with policy restrictions.

Maintain diversification limits Perform semi-annual rebalancing when deviation exceeds investment policy targets.

Provide monthly and quarterly reporting including:

o Full holdings list o Performance vs. benchmarks o Attribution analysis o Gains/losses and income

Coordinate with designated custodians.

Maintain consistent investment philosophy and style.

CATEGORY III

CAPITAL PROJECT & DEBT FINANCING ADVISORY

The selected firm shall provide advisory services related to capital financing, including:

Debt structure analysis and recommendations Evaluation of fixed vs. variable rate financing Review of refinancing opportunities Assist in identifying governmental and private funding sources.

Coordinate with bond counsel and underwriters, and rating agencies Review official statements and financing documents.

Analyze underwriting spreads and pricing scales.

Provide post-issuance compliance guidance including arbitrage considerations.

Long-term capital planning support

4. Proposal Requirements Proposals cannot be altered after the proposal submittal deadline and must be firm for up to 90 days from the submittal deadline.

Proposals must include:

I. Firm Overview Firm history, ownership structure Office locations Organizational chart Assets under advisement Registrations, licenses, and regulatory status

II. Team Qualifications Primary contact and lead advisor biographies Experience with similar institutions Certifications (CFA, CFP, etc.)

III. Investment Philosophy & Approach

Asset allocation methodology Risk management framework Performance measurement approach

IV. Capital Financing Experience

Summary of recent higher education financings Role in financings (advisor vs underwriter) Case studies

V. Reporting Report examples Performance calculation methodology

VI. Fee Proposal

Clearly identify:

Investment advisory fee structure (flat fee or asset-based) Capital financing advisory fee structure Any additional or ancillary fees Confirmation of no commission-based compensation

VII. References

Provide five public-sector references including:

Contact name, Title Telephone number Type of services provided

5. Evaluation Criteria (Best Value)

In accordance with Texas Education Code §44.031(b), proposals will be evaluated using the following best value criteria:

Evaluation Factor Weight

Fees 25%

Relevant Experience 20%

Reporting & Communication 20%

Investment Philosophy & Process 15%

Capital Financing Expertise 15%

References & Past Performance 5%

WCJC may, at its discretion, conduct interviews or request clarifications from proposers. WCJC reserves the right to negotiate pricing and terms with the proposer(s) determined to be in the best interest of the College.

6. Submission Instructions Proposal must be enclosed in a sealed envelope (box or container) addressed as described below. The envelope must clearly identify the RFP number, submittal deadline, and the name and return address of the Respondent. Sealed proposals must be clearly marked:

“26_00001 WCJC-RFP Investment Advisor Services”

And delivered to:

Clarissa Bueno

Director of Purchasing

911 E. Boling Hwy, Suite A107-A

Wharton, Texas 77488

No later than: Wednesday, May 13th 2026 at 3:00 p.m.

Submit (3) hard copies of the proposal along with (1) electronic copy.

Late proposals will not be accepted.

7. Questions and Addenda Questions must be submitted in writing via email to:

Clarissa Bueno Director of Purchasing buenoc@wcjc.edu

Responses will be issued through addendum and posted on the Texas SmartBuy website at https://www.txsmartbuy.gov/esbd under Solicitation ID: 26_00001.

8. Contract Terms

The contract will include:

Initial term and renewal options o Initial term: One (1) year from contract execution o Renewal options: additional one-year terms at the College's discretion o Either party may terminate with 30 days written notice without cause o The College reserves the right to terminate immediately for cause

Insurance requirements

Selected advisors must maintain:

o Professional liability (errors and omissions) insurance of at least

$2,000,000 o General liability insurance of at least $1,000,000 o Workers' compensation as required by Texas law o Evidence of coverage must be provided prior to contract execution

Compliance with all applicable laws and WCJC policies

All services must comply with applicable Texas law, including but not limited to:

o Texas Public Funds Investment Act (Chapter 2256, Texas Government

Code) o Texas Local Government Code o Texas Public Information Act o All federal securities laws and regulations applicable to the services provided

9. Reservation of Rights WCJC reserves the right to:

Reject any or all proposals Waive minor informalities Negotiate with proposers Award a contract in whole or in part Cancel this RFP at any time if in the best interest of the College

10. Public Information Proposals are subject to the Texas Public Information Act after award. Confidential information must be clearly marked.

11. Addenda: (if they apply) Bidder hereby acknowledges receipt of the following Addenda to the RFP, the provisions and requirements of which have been taken into consideration in the preparation of this proposal:

Addenda Numbers: # # # # #

Attachments Attachment A – Pricing Sheet (Segregated by Investment and Capital/Debt Services) Attachment B – Sample Contract Attachment C – Conflict of Interest Questionnaire Vendor Checklist

WCJC Investment reports & policies can be found here:

https://www.wcjc.edu/about/policies-and-procedures/investment-disclosures.aspx

Attachment A – Pricing Sheet (Segregated by Investment and Capital/Debt Services)

1. General Instructions

Respondents may propose:

o Flat Fee Structure o Assets Under Management (AUM) Structure o Both (preferred for evaluation purposes)

All pricing must be fully transparent, all-inclusive, and clearly defined.

Identify any minimums, retainers, or asset thresholds.

2. Flat Fee Pricing Structure

Upfront Fee

Fee Type Amount ($) Description

Initial Engagement Fee

One-time onboarding / planning fee

Flat Fee / Proposed Fee

Service Proposed Fee ($) Flat Fee ($)

Debt / Capital Advisory

Monthly

Quarterly

Annual

Investment Advisory

Monthly

Quarterly

Annual

3. AUM (Assets Under Management) Pricing Structure

Standard AUM Fee

Asset Range Fee (%) Fee (bps)

All Assets

Tiered AUM Fee Schedule (If Applicable)

Asset Tier Fee (%) Fee (bps)

$0 – $500,000

$500,001 – $1,000,000

$1,000,001 – $5,000,000

$5,000,001+

CERTIFICATION

By submitting this Pricing Proposal, Respondent certifies that:

Pricing is true, accurate, and complete All fees are fully disclosed No undisclosed fees will be charged

Authorized Signature: ___________________________

Name / Title: _________________________________

Company Name: ________________________________

Date: _______________________________________

Attachment B – Sample Contract

This Procurement Agreement (“Agreement”) is made and entered into by and between Wharton County Junior College, a political subdivision of the State of Texas (“College” or “WCJC”), and [Vendor Name] (“Vendor”).

1. PURPOSE

The purpose of this Agreement is to establish the terms and conditions under which Vendor shall provide goods and/or services as described in this Agreement and any associated purchase orders, solicitations, or exhibits.

2. SCOPE OF WORK

Vendor agrees to provide the goods and/or services described in:

Section 3.Scope of Work Applicable Purchase Order(s) Any awarded bid, proposal, or cooperative contract documentation

All goods and services shall conform to the specifications, standards, and requirements set forth therein.

3. TERM

This Agreement shall begin on [Start Date] and end on [End Date], unless terminated earlier in accordance with this Agreement. The College reserves the right to renew this Agreement under the same terms for additional periods upon mutual written agreement.

4. COMPENSATION

Total compensation under this Agreement shall not exceed $[Amount], unless amended in writing.

Submission of a valid invoice to: wcjcap@wcjc.edu

5. PURCHASE ORDERS

All purchases under this Agreement must be authorized by an official WCJC Purchase Order.

The Purchase Order number must appear on all invoices.

Unauthorized purchases may not be paid.

6. COMPLIANCE WITH LAWS

Vendor agrees to comply with all applicable federal, state, and local laws, including but not limited to:

Texas Education Code §44.031 Texas Government Code (procurement and contracting requirements) Equal Employment Opportunity laws

7. PROCUREMENT METHOD

This Agreement is awarded pursuant to:

☐ Competitive Bid (IFB) ☐ Request for Proposals (RFP) ☐ Cooperative Purchasing Program ☐ Exempt Purchase

Vendor certifies that pricing and terms are consistent with the procurement method utilized.

8. INSURANCE

Vendor shall maintain adequate insurance, including:

Professional liability (errors and omissions) insurance of at least $2,000,000 General liability insurance of at least $1,000,000 Workers' compensation as required by Texas law

Proof of insurance must be provided upon request.

9. INDEMNIFICATION

Vendor agrees to indemnify and hold harmless WCJC, its officers, employees, and agents from any claims, damages, or liabilities arising out of Vendor’s performance under this Agreement.

10. TERMINATION

WCJC may terminate this Agreement:

For convenience with 30 days written notice For cause immediately upon breach

Vendor shall be compensated only for goods/services provided up to the termination date.

11. DEFAULT

Failure of Vendor to perform in accordance with this Agreement may result in:

Termination Withholding of payment Disqualification from future procurements

12. ASSIGNMENT

Vendor may not assign or transfer this Agreement without prior written consent from WCJC.

13. RECORDS & AUDIT

Vendor agrees to maintain all records related to this Agreement for a period of at least 3 years and make them available for audit upon request.

14. CONFLICT OF INTEREST

Vendor certifies compliance with:

Texas Local Government Code Chapter 176 (Conflict of Interest Questionnaire)

15. FORCE MAJEURE

Neither party shall be liable for failure to perform due to events beyond their reasonable control, including natural disasters, war, or governmental actions.

16. GOVERNING LAW

This Agreement shall be governed by the laws of the State of Texas. Venue shall lie in Wharton County, Texas.

17. ENTIRE AGREEMENT

This Agreement, including all exhibits and referenced documents, constitutes the entire agreement between the parties and supersedes all prior agreements.

18. SIGNATURES

WHARTON COUNTY JUNIOR COLLEGE

By: ___________________________ Name: _________________________ Title: __________________________ Date: __________________________

VENDOR

By: ___________________________ Name: _________________________ Title: __________________________ Date: __________________________

Attachment C – Conflict of Interest Questionnaire (CIQ)

You can find the form here:

https://www.ethics.state.tx.us/data/forms/conflict/CIQ.pdf

Vendor Submission Checklist

To be considered responsive, vendors must include ALL of the items below with their proposal submission.

☐ Firm Overview ☐ Team Qualifications ☐ Investment Philosophy & Approach ☐ Capital Financing Experience ☐ Reporting ☐ Fee Proposal (Attachment A – Pricing Sheet or equivalent) ☐ References

Required Forms and Certifications

☐ Conflict of Interest Questionnaire (Form CIQ), if applicable, per Texas Local Government Code Chapter 176 (Attachment C) ☐ Addenda acknowledgment (if any addenda were issued) ☐ Any exceptions to the sample contract clearly identified (Attachment B) ☐ Copy of current Certificate of Insurance (Professional liability (errors and omissions) insurance/General liability insurance) or statement of ability to provide upon award

Vendor Certification:

I certify that this proposal includes all required documents listed above and that the information provided is true and correct.

Authorized Signature: ___________________________

Name / Title: _________________________________

Company Name: ________________________________

Date: _______________________________________