Investment Advisory Services and Municipal Financial Products Advisory Services

The City of Waco, Texas has issued Request for Proposal 2026-007 seeking qualified firms to provide professional advisory services in two distinct service areas: Investment Advisory Services under the Texas Public Funds Investment Act and Municipal Financial Products (MFP) Advisory Services. Respondents may propose to serve one or both service areas, with the City retaining the discretion to engage either a single firm for both areas or separate firms for each area based on demonstrated qualifications and expertise. Qualified respondents must have a minimum of five years of experience serving Texas municipalities or public entities, employ staff with professional certifications such as CFA, CFP, or equivalent credentials, and submit comprehensive fee proposals with all-inclusive pricing structures. Investment Advisory Services advisors must be registered with the SEC as Registered Investment Advisors, demonstrate expertise in the Texas Public Funds Investment Act, and maintain professional liability insurance of at least $2,000,000, while MFP Advisory Services advisors must be registered as Municipal Advisors with both the SEC and MSRB, hold CTA registration with the CFTC for energy commodity advisory, and fully disclose all conflicts of interest. The RFP was posted on February 17, 2026, with a questions deadline of February 27, 2026 at 5:00 p.m. CT and proposals due by 2:00 p.m. CT on March 9, 2026; proposal opening is scheduled for 2:01 p.m. CT on the same date via Zoom video conferencing, with the evaluation period running from March 9 through April 9, 2026 and final selection anticipated by April 9, 2026. All proposals must be submitted electronically through the City's eProcurement portal (Bonfire), with fax and email submissions not accepted. The initial contract term is three years from execution, with two additional one-year renewal options at the City's discretion, and either party may terminate with 90 days' written notice without cause.

The RFP does not specify set-aside designations or restrictions targeting disadvantaged enterprises or particular organizational types; however, the contract must be awarded and approved by Waco City Council if the amount exceeds $100,000. No incumbent vendors, current contractors, or existing infrastructure integration requirements are detailed in the available procurement documentation. The City's current investment portfolio encompasses operating funds, debt service funds, and bond funds with specific maturity and diversification requirements per the Investment Policy, which responding firms must be prepared to manage in accordance with established parameters. Award values or specific budget ranges for this procurement have not been disclosed in the available documentation.