The County was seeking an experienced individual, team or firm to provide investment advisory and management services for a portfolio which varies throughout the year and can range between $80 - $350 million.
Solicitation Advertised: July 22, 2018 and July 29, 2018
Solicitation Opened: August 16, 2018
Vendors Notified: 36
Vendors Responding: 6
Contract Term: One year not to exceed two years
Proposals were received and evaluated by a committee consisting of representatives from the County’s Tax Office, Budget and Fiscal Policy Department, Public Works Department, and County Auditor Office. The Purchasing Department facilitated the evaluation process. Evaluation criteria included:
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Firm’s fee proposal; including terms
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Firm’s demonstrated approach provided in a sample portfolio
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The firms understanding of the County investment program, objectives and constraints
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Composition of the firm including the key personnel committed
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The firms capacity to provide high-quality services
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Quality of Proposal
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Firm’s reporting and communication practices
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Value-Added Benefits
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The Firm’s references from organizations
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Health Insurance Provision for Employees
The evaluation team reviewed, scored, and ranked each firm against the established criteria. In this case, the top scoring firm, First Southwest Asset Management, LLC from Dallas, TX was determined to offer the most advantageous solution. A best and final offer was proposed and accepted.