Financial Advisor Services

The intent of this informal solicitation is to solicit proposals from service providers for financial advisor services for clients of the Public Guardian/Conservatorship Program and the estates of the Public Administrator Program. The Public Guardian and Public Administrator maintain a strong fiscal responsibility for their client assets and promotes the need for financial advisor services to assist with the following goals: Professional Management – A financial manager account ensures that funds are handled by professionals who specialize in investment strategies, risk management, and financial planning. Asset Protection – The Public Guardian and Public Administrator are responsible for safeguarding the client’s assets, ensuring they are invested wisely and protected from mismanagement or fraud. Growth & Stability – Investments made through a financial manager account can help grow the client’s wealth while maintaining financial stability, ensuring long-term security. Legal & Fiduciary Compliance – The Public Guardian and Public Administrator has a fiduciary duty to act in the best interest of the client, ensuring that investments align with legal requirements and financial goals. Accountability & Oversight – Courts often require conservators to provide regular financial reports, ensuring transparency and accountability in managing the client’s funds. Historically, the Financial Manager is paid a monthly fee based on an annual percentage rate of 1% of the value of the assets under management. Contractor shall comply with the Uniform Fiduciary Income and Principal Act (UFIPA) spelled out in the California Probate Code. Contractor obligations: •Consider general economic conditions that may impact performance of clients’ portfolios. • Identify the role of the investments in context of the overall portfolio of San Mateo County clients' accounts. • Understand the need for liquidity and determine the objective of preserving vs appreciating capital. • Maintain a duty to diversify the investments of the clients' accounts. • Consider the effects of inflation or deflation over the long term. • Manage assets in sole interest of the clients of San Mateo County. • Only incur costs appropriate and reasonable in relation to the accounts' needs. • Consider the tax consequences of investment decisions or strategies and inform County of such consequences ahead of time.