SIB02-25_-_Responses_to_Written_Questions.pdf
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- Attached to
- SIB02-25 - Investment Consulting Services
- Solicitation number
- 0000037597
- Issued by
- Sacramento County, San Francisco City, California
About this file
This document is a Responses to Written Questions file issued by the ScholarShare Investment Board, a California state agency, regarding Request for Proposals No. SIB02-25 for Investment Consulting Services. The RFP seeks qualified firms to provide investment consulting services to the ScholarShare Investment Board. The document addresses two key questions submitted by potential proposers during the procurement process, dated January 15, 2026. No specific response deadline, bidder's conference, site visit, or award date is identified in this excerpt. The resulting contract will be for the duration specified in the RFP, with services to be performed as outlined in the solicitation documents.
The first question clarifies that proposers must maintain registration as a Municipal Advisor with the Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) for the entire contract term; registration as a Registered Investment Advisor (RIA) alone does not satisfy this requirement. The second question addresses billing methodology, confirming that the ScholarShare Investment Board will not accept all-inclusive flat fees or retainer arrangements. Instead, proposers must provide hourly rates for each level of staff assigned to the project, and reimbursement will be based on actual services performed at these hourly rates, as specified in Section 3.3(d) and Attachment 3 of the RFP.
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| File | Type | Posted |
|---|---|---|
| SIB02-25_-_FINAL_RFP.pdf |
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Text version
MEMBERS
FIONA MA, CPA, CHAIR
State Treasurer
JOE STEPHENSHAW
Director of Finance
BROOKS ALLEN
Executive Director
State Board of Education
VACANT
Senate Rules Committee
Appointee
CATALINA CIFUENTES
Governor Appointee
CA Student Aid Commission
JOSE FIERRO
Speaker Appointee
PAUL MARTIN
Governor Appointee
Member at Large
EXECUTIVE DIRECTOR
Cassandra DiBenedetto
901 P Street, Suite 313B Sacramento, CA 95814 p (916) 651-6380 scholarshare@treasurer.ca.gov www.treasurer.ca.gov/scholarshare
SCHOLARSHARE INVESTMENT BOARD
ScholarShare Investment Board
Request for Proposals No. SIB02-25 Investment Consulting Services
January 15, 2026
The following information is provided in response to questions received by the ScholarShare Investment Board regarding Request for Proposals No. SIB02-25 for Investment Consulting Services.
Responses to Written Questions
1. The minimum qualifications on page 4 of the RFP states that a firm must maintain registration as a Municipal Advisor with the Securities and Exchange Commission for the duration of the agreement. If a firm is registered with the SEC as a Registered Investment Advisor (RIA) but not registered as a Municipal Advisor, would that be acceptable?
Answer: As stated in the RFP, the Proposer must maintain registration as a Municipal Advisor with the Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) for the duration of the agreement.
2. Would the Board or staff be willing to enter into a flat annual retainer with predictable monthly or quarterly billing versus hourly billing?
Answer: As described in Section 3.3(d) and Attachment 3 of the RFP, the Proposer shall identify and include an hourly rate for each level of staff who will be assigned to work on the services outlined in this RFP. The hourly rates identified will be utilized in the resulting contract for reimbursement for services performed. All-inclusive flat fees and/or retainer fees will not be accepted for consideration.
mailto:zagullana@treasurer.ca.gov mailto:scholarshare@treasurer.ca.gov http://www.treasurer.ca.gov/scholarshare
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