Essex County College is seeking Investment Advisory and Management Services through a Request for Proposal (RFP). Qualified firms with at least ten years in business and registered portfolio managers are invited to submit proposals. The services include actively managing the college's investment portfolio, participating with the finance and investment committee, assisting with the investment policy, and providing clear, timely communication. Proposals are due by Friday, May 15, 2026. Key dates include the last day for questions on May 8, 2026. The contract period is one year with an option to renew for another year. Bidders must submit proposals with specific required documents, including a cover letter, service plan, organizational chart, resumes, pricing, and references. The evaluation will be based on experience, team, approach, and price. The college reserves the right to reject any and all proposals.
The bid due date and time is Friday, May 15, 2026 at 10:00 am EST. Proposals will not be received after this date and time.
Payment will be made following the owner's policy and procedures. Invoices shall specify, in detail, the period for which payment is claimed, the purchase order number, the services performed during the prescribed period, the amount claimed, and the correlation between the services claimed and this proposal.
The contractor will replace without charge for materials, labor, or transportation any and all parts found defective within one year from the date of final acceptance. If equipment fails to function properly for any reason whatsoever other than negligence on the part of a college employee within the first thirty days after delivery, it shall be replaced with new equipment under the conditions of warranty and manufacturers guarantee as stated for new equipment or replacement.
The award selection will generally be based on the following criteria, in no particular order, where the college determines which firm offers the college the best value in terms of experience, team, approach, and price.
Minimum qualifications include: at least ten (10) years in business, portfolio manager registered with appropriate governing authorities (e. g. , SEC and FINRA), and ability to show lasting relationships with other nonprofit agencies, colleges, or similar entities.
There may be deducted from the amount payable to the contractor by the contracting public agency, under this contract, a penalty of **** for each person for each calendar day during which such person is discriminated against or intimidated in violation of the provisions of the contract.
Any prospective bidder who wishes to challenge a bid proposal specification shall file such challenges in writing with the contracting agent no less than three business days before the opening of the bid proposals.
