Written Request for Clarification Response.pdf
PDF 111 KB Posted
- Attached to
- Investment Consultant Services
- Solicitation number
- ITN-11419
- Issued by
- Leon County, Florida
About this file
This document is a Board Response to Written Requests for Clarification issued by the Florida Prepaid College Board for Invitation to Negotiate (ITN) 25-01 regarding Investment Consultant Services. The document contains written clarification responses from Marquette Associates, Inc. to two specific questions about investment solutions and potential changes to existing investment menus for the Florida 529 Savings Program and Florida ABLE Savings Program. The responses indicate that the most frequent request from account holders is for a fixed return/guaranteed investment product, and while no specific changes are currently contemplated, the Board remains open to ideas that could improve the programs.
The document reveals that the Board is seeking an independent investment consultant to provide comprehensive services for two investment programs totaling approximately $1.6 billion in assets. The procurement requires the consultant to perform tasks such as investment performance validation, monthly and quarterly reporting, investment option design, allocation development, policy review, and investment manager monitoring. Respondents must have at least 5 years of experience in investment consulting for institutional clients, with specific experience in 529 Savings and ABLE Programs. 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. The contract is structured for an initial five-year term with potential one-year renewal options, and compensation will be a quarterly fee with additional hourly rates for special consultations.
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Text version
ITN 25-01: Board Response for Written Requests for Clarification Page 1 of 2
BOARD RESPONSE TO WRITTEN REQUESTS FOR CLARIFICATION
RELATING TO:
Invitation to Negotiate
Investment Consultant Services
# 25-01
January 29, 2025
Florida Prepaid College Board 1801 Hermitage Blvd., Suite 210
Tallahassee, Florida 32308
(850) 488-8514
ITN 25-01: Board Response for Written Requests for Clarification Page 2 of 2
Memorandum
To: Prospective Respondents, ITN 25-01
From: Florida Prepaid College Board
Date: January 27, 2025
Subject: Board Response to Written Requests for Clarification relating to ITN 25-01:
Investment Consultant Services
Any questions concerning conditions and specifications of this RFQ were required to be submitted in the form of written questions, on the Request for Clarification Form, and pursuant to the schedule in Section 2.01. Please note, if any of these requirements were not met, the questions may not be included in the answer section below.
Company Name: Marquette Associates, Inc.
Question RFQ Section RFQ
Page Question/Comment
1 Appendix B response packet, consulting services/program design, questions
6-7
Page 9 What types investment solutions are most frequently requested by account holders which are not currently offered within the Savings Plan or ABLE United?
For both the Savings and ABLE Programs, the most frequent request for an new investment option is a fixed return/guaranteed product.
2 Appendix B response packet, consulting services/program design, questions
6-7
Page 9 Are there any changes already being contemplated to the existing investment menus of either plan?
Currently there are no specific changes being contemplated. However, the Board is continuously reviewing the investment menu and is open to any ideas that help improve the programs.
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