Vendor Questions Worksheet.docx
DOCX document 96 KB Posted
- Attached to
- Investment Consulting Services RFP
- Solicitation number
- RFP 171 260000002293 2
- Issued by
- Michigan
About this file
This is a Vendor Questions Worksheet for an Investment Consulting Services Request for Proposal (RFP No. 260000002293) issued by the State of Michigan. The worksheet requires prospective bidders to provide comprehensive responses addressing their qualifications, experience, and compliance with state requirements. The document does not specify explicit response dates, due dates, site visits, bidders' meetings, or award dates; these details would be contained in the accompanying RFP instructions and solicitation documents. The worksheet focuses on investment consulting services and requires bidders to demonstrate at least three relevant experiences from the past five years that support their ability to manage contracts of similar size and scope.
The worksheet requires bidders to disclose detailed financial information, including gross annual sales for the past five years and fee arrangements with money managers and affiliated entities. Bidders must certify compliance with Michigan's Pay-to-Play Rules, confirm fiduciary obligations under ERISA, and disclose any conflicts of interest, prior litigation, debarment actions, and contract defaults within the past five years. Additionally, bidders must affirm compliance with standard contract terms, insurance requirements, labor law standards, environmental regulations, and various Michigan-specific statutory requirements including the Iran-Linked Business Act and the Clean Corporate Citizen certification. The worksheet also requires documentation of Michigan economic impact, including the number of current and anticipated employees within Michigan and wage information, along with certifications regarding employee classification, abusive labor practices, and convict labor compliance.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| Confidential Treatment Form.docx | DOCX document | |
| RFP 260000002293 - Bidder Question and Answer.xlsx | XLSX spreadsheet | |
| Schedule A - Statement of Work.docx | DOCX document | |
| Schedule E - Data Security Requirements - Hybrid.docx | DOCX document | |
| Schedule D - Service Level Agreement - Services & Commodities.docx | DOCX document | |
| Proposal Instructions.docx | DOCX document | |
| Standard Contract Terms.docx | DOCX document | |
| Schedule B - Pricing.docx | DOCX document | |
| Schedule C - Insurance Requirements - Standard Four.docx | DOCX document |
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Enter your company name Vendor Questions Worksheet Provide a detailed response to each question. “You” and “company” refers to the bidder.
Contact Information
| Information Sought |
| Bidder Response |
| Bidder’s sole contact person during the RFP process. Include name, title, address, email, and phone number. |
| Enter your response |
| Person authorized to receive and sign a resulting contract. Include name, title, address, email, phone number and vendor customer code in SIGMA VSS. |
| Enter your response |
Company Background Information
| Information Sought |
| Bidder Response |
| Legal business name and address. Include business entity designation, e.g., sole proprietor, Inc., LLC, or LLP. |
| Enter your response |
| What state was the company formed in? |
| Enter your response |
| Phone number. |
| Enter your response |
| Website address. |
| Enter your response |
| Number of years in business. |
| Enter your response |
| Number of employees. |
| Enter your response |
| Legal business name and address of parent company, if any. |
| Enter your response |
| Within the past five years, have there been any changes in ownership, organizational structure (e.g., management team) or control (e.g., merger or acquisition) of your company? Do you anticipate future significant changes in your organization? If the answer is yes to any of these questions, please explain. |
| Enter your response |
| Discuss your company’s history. Has growth been organic, through mergers and acquisitions, or both? |
| Enter your response |
| Has bidder ever been debarred, suspended, or disqualified from bidding or contracting with any entity, including the State of Michigan? If yes, provide the date, the entity, and details about the situation. |
| Enter your response |
| Has your company been a party to litigation against the State of Michigan? If the answer is yes, then state the date of initial filing, case name and court number, and jurisdiction. |
| Enter your response |
| Within the last 5 years, has your company or any of its related business entities defaulted on a contract or had a contract terminated for cause? If yes, provide the date, contracting entity, type of contract, and details about the termination or default. |
| Enter your response |
| State your gross annual sales for each of the last 5 years. |
If receiving a contract under this RFP will increase your gross revenue by more than 25% from last year’s sales, explain how the company will scale-up to manage this increase.
| Enter your response |
| Describe partnerships and strategic relationships you think will bring significant value to the State. |
| Enter your response |
| State the physical address of the place of business that would have primary responsibility for this account if bidder is awarded a contract under this RFP. |
| Enter your response |
| Data Universal Number System (DUNS)# |
| Enter your response |
| If licensed, provide the license number and the State in which the company is licensed. |
| Enter your response |
| Are you registered with the SEC or a state securities regulator as an investment advisor? If so, have you provided us with all disclosures required under those laws (including Part II of Form ADV)? |
| Enter your response |
| Do you or a related company have relationships with money managers that you recommend, consider for recommendation, or otherwise mention to clients for consideration? If so, please describe those relationships |
| Enter your response |
| Do you or a related company receive any payments from money managers you recommend, consider for recommendation, or otherwise mention to clients for consideration? If so, what is the extent of these payments in relation to your other income (revenue)? |
| Enter your response |
| Does the firm or any firm personnel receive finder’s fees from any affiliated entity, investment manager, or third party? If yes, please explain. Does the firm pay any finder’s fees to any affiliated entity, investment manager, or third party? |
| Enter your response |
| The firm can (i) certify that it is in compliance with Section 13e of the Public Employee Retirement System Investment Act (the “Michigan Pay-to-Play Rules”), and (ii) can represent and warrant that to its knowledge that it and its “Covered Associates” (as such term is defined in the Michigan Pay-to-Play Rule) have not directly or indirectly made a contribution to an official of a governmental entity during the preceding 24-calendar-month period, if such actions would have caused a violation under the Michigan Pay-to-Play Rules |
| Enter your response |
| Does the firm employ or provide compensation to any current member of the State of Michigan Investment Board? |
| Enter your response |
| Do you have any policies or procedures to address conflicts of interest and to prevent these payments or relationships from being considered when you provide advice to your clients? |
| Enter your response |
| Respondent firm warrants that it has established ethics and conflicts of interest policies and procedures, and that proper internal compliance controls are in place. |
| Enter your response |
| Does the firm have a written code of conduct or set of standards for professional behavior? If so, please attach a copy and state how they are monitored and enforced. |
| Enter your response |
| Has the firm adopted the CFA Code of Ethics and Standards of Professional Conduct? If so, how is employee compliance monitored? |
| Enter your response |
| How does the firm identify and manage conflicts of interest? |
| Enter your response |
| If you allow a plan to pay consulting fees using a plan’s brokerage commissions, do you monitor the amount of commissions paid and alert plans when consulting fees have been paid in full? If no, how can a plan make sure that it does not over-pay its consulting fees? |
| Enter your response |
| If you allow plans to pay your consulting fees using the plan’s brokerage commission, what steps do you take to ensure that the plan receives best execution for its securities trades? |
| Enter your response |
| Do you have any arrangements with broker-dealers under which you or a related company will benefit if money managers place trades for their clients with such broker-dealers? |
| Enter your response |
| Will you acknowledge in writing that you have a fiduciary obligation as an Investment Advisor to the SMRS while providing consulting services? |
| Enter your response |
| Do you consider yourself a fiduciary under ERISA with respect to the recommendations you provide to a plan? |
What percentage of your plan’s clients utilize money managers, investment funds, brokerage services, or other service providers from whom you receive fees?
| Enter your response |
| Has the firm, its principals or any affiliate ever: (a) been the focus of a non-routine Securities and Exchange Commission (SEC) inquiry or investigation or a similar inquiry or investigation from any similar federal, state or self regulatory body or organization, (b) been a party to any litigation concerning fiduciary responsibility or other investment related matters, or (c) submitted a claim to your errors and omission, fiduciary liability and/or fidelity bond insurance carrier(s)? If yes to any, please provide details. |
| Enter your response |
| Does the firm keep a record of all manager recommendations made to plan sponsor clients? What percentage of manager turnover occurs during a normal year for your plan sponsor clients? What is the percentage turnover in the firm’s fund of funds? What expenses do your clients incur as a result of turnover recommendations? |
| Enter your response |
| Does the firm hold or sponsor investment manager or client conferences? If yes, describe such events occurring in the last year, their usual frequency, and whether the costs of such events are borne by the firm or event attendees |
| Enter your response |
| Are there any potential conflicts of interest the firm would have in providing services to SMRS/BOI? If yes, explain. |
| Enter your response |
| List and describe any relationships and/or contacts the firm has had with any State of Michigan Investment Board member and/or BOI/Department of Treasury staff within the last twelve months. |
| Enter your response |
| During the last three years has the firm, affiliates or principals provided anything of value in excess of fifty dollars ($50.00) exclusive of food and beverages provided at a meeting or items required by contract to any public pension fund trustee or employee? If so, explain. To the best of your knowledge, have any public pension fund trustees or staff been found guilty of accepting such thing of value from the firm, affiliate or principal? |
| Enter your response |
| Provide the name of the firm, and its principal office’s address and telephone number. Provide the firm’s other office locations; the number of employees in each office and describe the functions of and/or services provided by each office. State which office(s) would provide services to SMRS/BOI if the firm is selected |
| Enter your response |
| Describe the firm’s history including the year it was first established, the year it began providing investment consulting services, and the year it began providing investment consulting services to tax-exempt clients and public pension plans. |
| Enter your response |
| List the current owners of the firm in descending order of percentage ownership. Attach a chart showing the current ownership structure including any parent, affiliated, and/or subsidiary company, and any business partners. Indicate if consulting personnel in the firm are employed or perform work for any parent, affiliate, and/or subsidiary company or business partner. |
| Enter your response |
| Describe how the firm manages growth, including any limits to client/consultant ratio. |
| Enter your response |
| Bidder affirms that any business types identified on its SIGMA VSS profile, including those eligible for Geographically Disadvantaged Business Enterprise (GDBE) and Michigan Supplier Community Program (MiSC), are valid. |
| Choose an item. |
Qualified Disabled Veteran/Service-Disabled Veteran-Owned Business Program
| Information Sought |
| Bidder Response |
| Under MCL 18.1261, a “qualified disabled veteran” means a business entity that is 51% or more owned by 1 or more veterans with a service-connected disability. A “service-connected disability” means a disability incurred or aggravated in the line of duty in the active military, naval, or air service as described in 38 USC 101(16). Are you a qualified disabled veteran? |
| Choose an item. |
To demonstrate qualification as a qualified disabled veteran, you must provide:
(a) Proof of service and conditions of discharge (DD214 or equivalent);
(b) Proof of service-connected disability (DD214 if the disability was documented at discharge or Veterans Administration Rating Decision Letter or equivalent if the disability was documented after discharge); and
(c) Legal documents setting forth the ownership of the business entity.
In lieu of the documentation identified above, you may provide proof of certification by the National Veterans Business Development Council.
Enter the filenames of documents submitted with your proposal to demonstrate status as a qualified disabled veteran.
Participation in RFP Development or Evaluation
| Information Sought |
| Bidder Response |
| Did your company, an employee, agent, or representative of your company, or any affiliated entity participate in developing any component of this solicitation? For purposes of this question, business concerns, organizations, or individuals are affiliates of each other if, directly or indirectly: (1) either one controls or has power to control the other or (2) a third-party controls or has the power to control both. Indicia of control include, but are not limited to, interlocking management or ownership, identity of interests among family members, shared facilities or equipment, and common use of employees. |
| Choose an item. |
If you enter “YES”, you are not eligible for contract award or to work as a subcontractor for the awarded vendor.
| If you are awarded a contract under this solicitation, in order to provide the goods or services required under a resulting contract, do you intend to partner or subcontract with a person or entity that assisted in the development of this solicitation? |
| Choose an item. |
If you enter “YES,” you are not eligible for contract award. An awarded vendor may not partner or subcontract with anyone to provide goods and services required under a resulting contract if that subcontractor or partner assisted in the development of this solicitation.
| Will your company, or an employee, agent, or representative of your company, participate in the evaluation of the proposals received in response to this RFP? |
| Choose an item. |
If you enter “YES”, you are not eligible for contract award or to work as a subcontractor for the awarded vendor.
State of Michigan Experience and Prior Experience
| Information Sought |
| Bidder Response |
| Does your company have experience working with the State of Michigan? If so, please provide a list (including the contract number) of the contracts you hold or have held with the State for the last 10 years. |
| Enter your response |
| Describe at least 3 relevant experiences from the last 5 years supporting your ability to successfully manage a contract of similar size and scope for the work described in this Solicitation. |
| Use the rows below to describe your applicable experience. |
Experience 1
Company name.
Contact name.
Contact role at time of project.
Contact phone.
Contact email.
| Enter your response |
| City. |
State.
Zip.
| Enter your response |
| 1. Project name and description of the scope of the project. |
2. What role did your company play?
3. How is this project experience relevant to the subject of this Solicitation?
| Enter your response |
| Total dollar value of project. |
| Enter your response |
| Initial budget proposed with bid |
| Enter your response |
| Final budget upon implementation |
| Enter your response |
| Start and end date (mm/yy – mm/yy) |
| Enter your response |
| Initial project implementation timeline with bid |
| Enter your response |
| Final project implementation timeline |
| Enter your response |
| Status (completed, live, other – specify phase) |
| Enter your response |
| Results obtained. |
| Enter your response |
| Experience 2 |
Company name.
Contact role at time of project.
Contact phone.
Contact email.
| Enter your response |
| City. |
State.
Zip.
| Enter your response |
| 1. Project name and description of the scope of the project. |
2. What role did your company play?
3. How is this project experience relevant to the subject of this Solicitation?
| Enter your response |
| Total dollar value of project. |
| Enter your response |
| Initial budget proposed with bid |
| Enter your response |
| Final budget upon implementation |
| Enter your response |
| Start and end date (mm/yy – mm/yy) |
| Enter your response |
| Initial project implementation timeline with bid |
| Enter your response |
| Final project implementation timeline |
| Enter your response |
| Status (completed, live, other – specify phase) |
| Enter your response |
| Results obtained. |
| Enter your response |
| Experience 3 |
Company name.
Contact role at time of project.
Contact phone.
Contact email.
| Enter your response |
| City. |
State.
Zip.
| Enter your response |
| 1. Project name and description of the scope of the project. |
2. What role did your company play?
3. How is this project experience relevant to the subject of this Solicitation?
| Enter your response |
| Total dollar value of project |
| Enter your response |
| Initial budget proposed with bid |
| Enter your response |
| Final budget upon implementation |
| Enter your response |
| Start and end date (mm/yy – mm/yy) |
| Enter your response |
| Initial project implementation timeline with bid |
| Enter your response |
| Final project implementation timeline |
| Enter your response |
| Status (completed, live, other – specify phase) |
| Enter your response |
| Results obtained. |
| Enter your response |
| Experience Continued - Additional Questions |
| Provide list of Investment consulting clients who within the last three (3) calendar years have terminated their relationship with the firm. Provide the reason for the termination |
| Enter your response |
| Provide the name of each institutional investor client and assets under advisement for which the firm has provided full-retainer investment consulting services during the last five (5) years |
| Enter your response |
| Provide a breakdown of the type of clients such as public funds, corporations, foundations, etc., to whom the firm provides services |
| Enter your response |
| Provide a breakdown of the assets as a percentage and dollar amount the firm advises on such as domestic equities, international equities, fixed income, and other specific types of assets. |
| Enter your response |
| Provide a complete copy of the firm’s most recent Form ADV (Parts I and II and accompanying schedules). |
| Enter your response |
| What are the firm’s key strengths, competitive advantages, and weaknesses? |
| Enter your response |
| Describe an innovative recommendation made by your firm to an investment consultant client and its outcome. |
| Enter your response |
| Describe the firm’s opinion on: |
1. Active versus passive management.
2. Internal versus external management.
3. Use of fund of funds or commingled funds versus direct investments.
4. Use of hedge funds, portable alpha strategies and other alternative strategies.
| Enter your response |
| Describe the level of coverage for errors and omissions insurance and any other fiduciary or professional liability insurance the firm carries (also see Terms and Conditions Section, Stop Work Order). |
| Enter your response |
| Does the firm have web presentation and virtual conferencing capabilities? |
| Enter your response |
| Does the firm have a website? If so, would the client be able to access it for general investment information and research? |
| Enter your response |
| Does the firm have a peer review program for consultants similar to that of auditors and actuaries? If so, describe such program. |
| Enter your response |
Standard Contract Terms
| Information Sought |
| Bidder Response |
| Bidder must affirm agreement with the attached Contract Terms. If not in agreement, written exceptions in accordance with the Evaluation Process section of the Proposal Instructions must be provided with Bidder’s proposal. Any acceptance to the Contract terms confirms your organizations agreement, if awarded a Contract, and thus cannot be further edited or negotiated. Having any further exceptions to the Contract terms, at time of Contract negotiations, may be cause for disqualification. |
| Choose an item. |
| Bidder must include all persons who reviewed or edited the Contract terms, and their applicable role and title within your organization. |
| Enter your response |
Insurance Requirements
| Information Sought |
| Bidder Response |
| Bidder must affirm agreement with the attached Schedule C (Insurance Requirements). If not in agreement, written exceptions in accordance with the Evaluation Process section of the Proposal Instructions must be provided with the Bidder’s proposal. |
| Choose an item. |
Michigan Voluntary Protection Program
| Information Sought |
| Bidder Response |
| Bidder must verify if their company is recognized in the Michigan Voluntary Protection Program (MVPP) |
| Choose an item. |
Michigan Economic Impact
| Information Sought |
| Bidder Response |
| Number of employees currently employed at locations within the State of Michigan. |
| Enter your response |
| Number of additional employees to be employed at locations within the State of Michigan if awarded this Contract (if any) |
| Enter your response |
| Minimum wage paid to employees employed at locations within the State of Michigan. |
| Enter your response |
| Average wage paid to employees employed at locations within the State of Michigan. |
| Enter your response |
| Percentage of employees employed at locations within the State of Michigan that are covered by employer-provided health insurance. |
| Enter your response |
Labor, Antidiscrimination and Environmental Law Compliance
| Information Sought |
| Bidder Response |
| Bidder must disclose any violations of state or federal labor, antidiscrimination and employment laws and regulations received within the past five years. |
| Enter your response |
| Bidder must disclose any violations of state or federal environmental laws and regulations received within the past five years. |
| Enter your response |
Prevailing Wage
| Information Sought |
| Bidder Response |
| Is bidder planning to utilize construction mechanics as defined by Public Act 10 of 2023 |
| Choose an item. |
| If you answered yes to the above question, Bidder certifies that they are registered with the Department of Labor and Economic Opportunity. |
| Choose an item. |
Other
| Information Sought |
| Bidder Response |
| Classification of Employees. I certify that the company has properly classified its employees in accordance with federal/state labor and employment laws. |
| Choose an item. |
| Abusive Labor Practices. The Contractor certifies that it will not furnish any Deliverable that was produced fully or partially by forced labor, forced or indentured child labor, or indentured servitude. |
| Choose an item. |
| Certification of Michigan Business- Public Act 431 of 1984, Sec. 268. I certify that the company has, pursuant to the provisions of Sec 268 of Public Act 431 of 1984, filed a Michigan Business Tax Corporate Income Tax Return. I certify that the company has, pursuant to the provisions of Sec 268 of Public Act 431 of 1984, filed a Michigan Income Tax return showing income generated in, or attributed to the State of Michigan. I certify that the company has, pursuant to the provisions of Sec 268 of Public Act 431 of 1984, withheld Michigan Income Tax from compensation paid to the company’s owners and remitted the tax to the Michigan Department of Treasury. |
| Choose an item. |
| Iran Linked Business- Public Act 517 of 2012. I certify that the Company is not an Iran-Linked business as defined by Public Act 517 of 2012. |
| Choose an item. |
| Clean Corporate Citizen. I certify that the Company is a Clean Corporate Citizen as defined by the Environmental Protection Act, 1994 PA 451. |
| Choose an item. |
| Convict Labor. The Contractor certifies that if using convict labor, it is complying with all applicable state and federal laws and policies. |
| Choose an item. |
| SOM Debt/Tax Payment. All SOM tax/debts. I certify that all applicable State of Michigan taxes are paid, and that no outstanding debt is owed to the State of Michigan. |
| Choose an item. |
| Authorization to Verify Information Provided by Vendor. I authorize the State to verify that all information provided in this registration, in bidding and contracting documents, and any attachments or supplement documents and processes are accurate. |
| Choose an item. |
Response to State Requests
| Information Sought |
| Bidder Response |
| Bidder agrees to respond, by established deadlines, to all requests from the State including but not limited to, clarification requests, notices of deficiency, and proposed changes to Contract Terms. |
| Choose an item. |
Request for Proposal No. 260000002293 image1.png
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