Investment Advisor RFQ.pdf

REQUEST FOR QUALIFICATIONS

INVESTMENT ADVISOR

401 West Owen K. Garriott Road

Enid, OK 73701

Released: April 2, 2025

REQUEST FOR QUALIFICATIONS (RFQ) FOR INVESTMENT ADVISOR

City of Enid, Oklahoma

Date: April 2, 2025

The City of Enid, Oklahoma ("City"), is seeking qualified Investment Advisors to provide investment management services for the City’s General Fund and its associated Authorities. This Request for Qualifications (RFQ) outlines the requirements for submission and evaluation of candidates for selection as the City’s General Investment Advisor.

1. Objective

The City aims to engage an experienced Investment Advisor to provide professional investment guidance and asset management services in compliance with the City’s investment policy (attached to this RFQ), applicable Oklahoma state laws, and other relevant regulations. The selected advisor will be responsible for delivering strategic investment guidance, executing investment decisions, and managing the City’s portfolio to maximize returns while maintaining prudent risk management practices.

2. Scope of Services

The selected Investment Advisor will be responsible for:

• Investment Strategy: Developing a comprehensive investment strategy that aligns with the City’s financial objectives and investment policy.

• Asset Allocation: Recommending and implementing asset allocations based on the City’s risk tolerance and financial goals.

• Investment Execution: Making investment decisions in compliance with applicable state laws and City policies.

• Performance Monitoring and Reporting: Tracking portfolio performance and providing regular reports to the City Administration and Chief Financial Officer.

• Risk Management: Identifying and mitigating risks, including market volatility and liquidity concerns.

• Compliance: Ensuring adherence to all relevant local, state, and federal regulations.

3. Qualifications

To be considered, the Investment Advisor must meet the following minimum qualifications:

• Be a registered investment advisor under the Investment Advisors Act of 1940 or a firm with equivalent accreditation and experience.

• Have a proven track record of managing municipal investment portfolios.

• Demonstrate expertise in Oklahoma laws governing municipal investments.

• Provide a list of municipalities or public entities served, including contact information for references, preferably within Oklahoma.

• Possess at least ten years of experience in municipal investment advisory services.

• Maintain good standing with all relevant regulatory bodies (e.g., SEC, FINRA).

4. Proposal Requirements

Interested firms should submit the following materials:

• Cover Letter: A brief statement expressing the firm’s interest and suitability for the role.

• Firm Overview: A description of the firm, including its size, location, and organizational structure.

• Experience and Qualifications: A summary of relevant experience, including a list of municipalities or public entities served, with references.

• Investment Approach: A detailed explanation of the firm’s strategy for managing municipal investment portfolios, including asset allocation, and risk management practices.

• Key Personnel: Resumes and qualifications of individuals who would be directly responsible for managing the City’s account.

• Fee Structure: A transparent breakdown of fees for services, including any additional costs.

• Compliance: A statement confirming adherence to all applicable regulations and the City’s investment policy.

5. Submission Instructions

All submissions must be received by 4:00pm on Wednesday, April 30, 2025 and should be addressed to:

Summer Anderson City Clerk City of Enid, Oklahoma 401 W Owen K Garriott, Enid, OK 73701 sanderson@enid.org 580-616-7274

Firms must submit one (1) original and three (3) copies of their response in a sealed envelope or electronic submission (if applicable). Late submissions will not be considered.

6. Evaluation Criteria

Submissions will be evaluated based on the following criteria:

• Relevant Experience: Experience in managing public sector investment portfolios and working with municipalities.

• Investment Strategy: The advisor’s approach to managing the City’s investments, including asset allocation, risk management, and compliance with the City’s investment policy.

• Fee Structure: The reasonableness and competitiveness of the proposed fee structure.

• References: Positive feedback from past or current clients, particularly municipal or government entities.

7. Selection Process

The City will evaluate all submitted qualifications and may invite selected firms for interviews or further discussions. The final selection will be based on overall qualifications, experience, and alignment with the City’s investment objectives.

The City of Enid, Oklahoma reserves the right to reject any or all submissions and to negotiate with any qualified firm during the selection process.

8. Contact Information

For further information or any questions regarding this RFQ, please contact:

Erin Crawford Chief Financial Officer City of Enid, Oklahoma 401 W Owen K Garriott, Enid, OK 73701 ecrawford@enid.org 580-616-7283