Investment Adviser Services

Washington State University is seeking proposals for Investment Advisory Services through a competitive Request for Proposal (RFP) process, targeting registered investment advisers to provide non-discretionary investment management for the university's operating investment portfolio. The solicitation encompasses comprehensive investment management services, including monthly performance and compliance reporting, periodic portfolio reviews, economic outlook presentations, investment benchmarking and strategy development, and educational support for university investment personnel. The RFP will evaluate proposals across five key categories: executive summary (10 points), experience (30 points), investment advisory services (40 points), support services (15 points), and cost proposal (5 points), totaling 100 possible points. Proposals are due on April 25, 2025, at 3:00 pm Pacific Time, with an initial contract period expected to be three years and potential optional renewals by mutual agreement. Respondents must be SEC-registered investment advisers eligible to do business in Washington State, with preference given to firms experienced in higher education investment management and capable of providing market data and credit research tools.

The procurement does not specify explicit set-aside designations or restrictions for disadvantaged enterprises. The investment portfolio being managed ranges between $500 and $700 million, indicating a substantial scope of services. While no incumbent vendor is directly mentioned, the university seeks a firm with demonstrated capability in public sector investment management, particularly within higher education. Proposers must complete several mandatory documents, including Exhibit A (Certifications & Assurances), Exhibit B (Contractor Information), and Exhibit C (Terms and Conditions), which outline legal and ethical requirements such as wage law compliance and potential conflict of interest disclosures. The university prefers a flat-rate fee structure but will consider all cost proposals. Financial requirements for the selected contractor include maintaining commercial general liability insurance of $1,000,000 per occurrence and professional liability insurance of $2,000,000 per claim, underscoring the significant financial and professional standards expected of the investment adviser.