RFP for Investment Services- 2016
Thank you for your interest in submitting a proposal for the 2016 RFP for Investment Services of the Huron County Community Foundation's endowment fund. Please find the packet, originally emailed to you, below via the button.
Any questions asked by potential providers will be listed in the Questions Asked section beneath the button for the packet. All questions will be posted anonymously and answers will be displayed for all potential providers to see.
Questions Asked & Answers:
- Could we have a copy of the Articles and Bylaws to review? Absolutely. You can access the Articles and Bylaws by clicking here.
- What is it about your current service with Lundy Financial that you really appreciate? What things about your current service are you looking to improve upon? One aspect of the service we are currently receiving that is appreciated by the Finance Committee is the customer service. They value face to face conversation regarding the investments of the Foundation. We are constantly looking to improve our returns to ensure that we are doing the best for our donors today while still ensuring the long-term future of the foundation.
- Are you looking for a discretionary investment platform or do you prefer to use a non-discretionary investment platform? What type (discretion or non) do you use now? Per our policies, investment activities must be approved by the Finance Committee who is given the authority to act on behalf of the Board of Trustees. Currently, our consultant will recommend actions like re-balancing the portfolio, placing a manger on watch, or removing a manger which is then approved by the Finance Committee by either electronic or in person consensus.
- What are the current fee’s involved in the plan. What is the breakdown of fee’s that go to the Investment Advisor (Lundy) and what are the fee’s/costs of the underlying investments (mutual funds and SMA costs)? Therefore what are the total cost involved? Our investment fee is .75%. The total investment expense, as listed in our 2015 990 filing, was $28,858
- Could you provide insight regarding the term “value-engineered approach” as it relates to your evaluation of submitted proposals? The value engineered approach is a term used frequently in non-profit RFPs to ensure that information submitted in pertinent and valuable to the search and prepared in a cost-effective manner.
Will the committee be using any specific criteria to evaluate submitted proposals? Specific scoring criteria will not be established, however, as the proposal states, fees will only comprise one portion of the conversation. We will discuss customer service, investment strategy, expertise in community foundation/endowed investments, and the history of the consultant.
Do you anticipate that firms will be invited to present their proposals in-person before the final selection is made? It is our intention to narrow initially narrow the field based on written proposals. At that point, remaining firms will be invited to present. This is subject to change as the process moves forward, but at this point, these are our intentions.