Financial Advisor Services

{
  "id": 164291,
  "_slug": "smcgov",
  "title": "Financial Advisor Services",
  "status": "closed",
  "summary": "<p>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. &nbsp;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:</p><ul><li><strong>Professional Management</strong> &ndash; A financial manager account ensures that funds are handled by professionals who specialize in investment strategies, risk management, and financial planning.</li><li><strong>Asset Protection</strong> &ndash; The Public Guardian and Public Administrator are responsible for safeguarding the client&rsquo;s assets, ensuring they are invested wisely and protected from mismanagement or fraud.</li><li><strong>Growth &amp; Stability</strong> &ndash; Investments made through a financial manager account can help grow the client&rsquo;s wealth while maintaining financial stability, ensuring long-term security.</li><li><strong>Legal &amp; Fiduciary Compliance</strong> &ndash; 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.</li><li><strong>Accountability &amp; Oversight</strong> &ndash; Courts often require conservators to provide regular financial reports, ensuring transparency and accountability in managing the client&rsquo;s funds.</li></ul><p>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.</p><p>Contractor shall comply with the<strong> Uniform Fiduciary Income and Principal Act (UFIPA) </strong>spelled out in the California Probate Code.</p><p><strong>Contractor obligations: </strong></p><p>&bull;Consider general economic conditions that may impact performance of clients&rsquo; portfolios.</p><p>&bull; Identify the role of the investments in context of the overall portfolio of San Mateo County clients' accounts.</p><p>&bull; Understand the need for liquidity and determine the objective of preserving vs appreciating capital.</p><p>&bull; Maintain a duty to diversify the investments of the clients' accounts.</p><p>&bull; Consider the effects of inflation or deflation over the long term.</p><p>&bull; Manage assets in sole interest of the clients of San Mateo County.</p><p>&bull; Only incur costs appropriate and reasonable in relation to the accounts' needs.</p><p>&bull; Consider the tax consequences of investment decisions or strategies and inform County of such consequences ahead of time.</p><p>&nbsp;</p>",
  "isPaused": false,
  "template": {
    "title": "Request for Proposals - Informal (Pre-LBPO)"
  },
  "addendums": [
    {
      "id": 76393
    }
  ],
  "copyCount": 0,
  "isPrivate": false,
  "comingSoon": false,
  "created_at": "2025-04-22T16:27:11.882Z",
  "department": {
    "id": 5434,
    "name": "Health - Aging and Disability Services"
  },
  "government": {
    "code": "smcgov",
    "organization": {
      "city": "Redwood City",
      "logo": "https://assets.procurement.opengov.com/logo-uploads/cf4a120a-e7d8-4e8c-b7fd-fca8db3c7adb_Seal_of_San_Mateo_County,_California.svg.png",
      "name": "County of San Mateo",
      "phone": "(650)363-4123",
      "state": "CA",
      "website": "https://www.smcgov.org/",
      "zipCode": "94063",
      "address1": "400 County Center",
      "address2": "1st Floor",
      "phoneExt": null,
      "timezone": "America/Los_Angeles",
      "countryCode": "US",
      "phoneCountry": "1"
    }
  },
  "financialId": null,
  "closeOutReason": null,
  "closedSubstatus": "awarded",
  "proposalDeadline": "2025-06-13T00:00:00.000Z",
  "releaseProjectDate": "2025-05-21T23:25:00.890Z"
}