Investment management services

The City of Riviera Beach, located in Palm Beach County, Florida, has issued a Request for Proposal (RFP) for Investment Management Services, seeking highly qualified, experienced, and licensed firms to provide comprehensive investment management solutions. The procurement opportunity, identified by solicitation number 1183-RFP-25-3, requires proposers to submit detailed documentation including required forms, cost proposals, and compliance certifications. Key deliverables include providing professional investment management across multiple asset tiers, with specific fee structures based on assets under management ranging from initial $25 million tranches to over $100 million. Proposers must complete all required attachments, including Attachment A (Offeror Required Forms), Attachment B (Cost Proposal), and demonstrate compliance with various legal and operational requirements. The RFP was posted on June 17, 2025, with proposals due by July 22, 2025, and all submitted materials must remain valid for 120 days after the proposal opening date. Evaluation criteria appear to encompass comprehensive documentation, fee structures, operational capabilities, and adherence to local procurement guidelines.

The solicitation includes a Local Vendor Preference Program that provides a 5% preference point advantage to businesses located within city limits, with specific qualification requirements such as maintaining a current business tax receipt and a physical business location within the city for at least 12 months. Potential respondents must demonstrate compliance with various certification requirements, including non-discrimination policies, drug-free workplace standards, E-Verify employment eligibility, and disclosures regarding public entity crimes. While specific budget ranges are not explicitly detailed, the cost proposal attachment suggests the potential contract value could be substantial, particularly for firms managing investment portfolios across multiple asset tiers. The City reserves the right to renew the contract for up to four additional one-year periods, indicating potential long-term engagement. Insurance requirements are stringent, with contractors expected to maintain professional liability insurance of $3,000,000 per occurrence, commercial general liability insurance of $1,000,000 per occurrence, and comprehensive automobile liability insurance of $1,000,000 combined single limit.