ABLE03-24 - 529A Investment Consulting Services

The California Achieving a Better Life Experience (ABLE) Act Board is seeking a qualified 529A investment consulting services provider through Request for Proposals No. ABLE03-24. The selected consultant will assist the Board in fulfilling fiduciary duties for the ABLE Trust, with specific responsibilities including analyzing asset allocation plans, creating investment policy statements, participating in RFP development, reviewing investment performance, and providing quarterly monitoring. Proposers must submit hard copy proposals by January 10, 2025, at 3:00 p.m. PT, with written questions due by December 12, 2024. The evaluation process will assess proposals across multiple criteria: background/personnel information (20 points), investment consulting experience (35 points), cost proposal (30 points), references (5 points), with an optional interview potentially adding 7 additional points. The contract term spans two years from April 1, 2025, through March 31, 2027, with potential for one optional one-year extension. Qualified consultants must demonstrate comprehensive expertise in investment strategy, fiduciary oversight, and trust management specific to 529A programs.

The procurement includes several set-aside and preference programs, specifically targeting small businesses, microbusinesses, and Disabled Veteran Business Enterprises (DVBE). The contract includes a DVBE incentive program and opportunities under the Target Area Contract Preference Act (TACPA). The total contract value is not to exceed $198,000 for the initial two-year term, with an additional $99,000 available for the optional third year, bringing the maximum potential contract value to $297,000. Travel costs are capped at $10,000 annually. While no incumbent vendor is identified in the documentation, the RFP indicates a competitive selection process designed to secure the most qualified investment consulting services. Proposers should be prepared to demonstrate robust investment consulting experience, particularly in managing specialized trust programs like 529A, and provide comprehensive documentation of their qualifications, personnel backgrounds, and cost structures.