Investment Consultant Services

Background
The City of Jacksonville's Finance and Administration Department is seeking an investment consultant to review, assess, and recommend investment options for the City's 401(a) and 457(b) plans, which include both traditional and Roth options. The goal of this contract is to ensure that the investment offerings are suitable, appropriate, and well-diversified for participants with varying degrees of investment experience.

Work Details
The consultant will provide ongoing review, assessment, and recommendations for the City's 401(a) and 457(b) plans. Specific tasks include:

- Evaluating current investment options to ensure a well-diversified portfolio;
- Assisting in determining the appropriate number of choices within each asset category;
- Informing the City of industry trends and new investment products;
- Recommending changes to existing investment options;
- Evaluating new plan offerings;
- Monitoring performance of existing funds;
- Conducting semi-annual analyses of investment portfolio characteristics;
- Providing detailed reports to City staff and summary reports to stakeholders including City Council.

The consultant must also maintain a client base with at least $1 billion in net assets under advisement in government defined contribution plans.

Period of Performance
The initial term of the agreement will commence upon execution of the contract and will continue for five (5) years, with an option for renewal for up to five (5) additional years based on satisfactory performance.

Place of Performance
The majority of services shall be performed within Duval County, Florida.

Bidder Requirements
Bidders must have a minimum of five (5) years of experience in investment consulting services and demonstrate experience providing services to at least three (3) plans: 457(b), 401(a), or 401(k). Bidders must also provide proof of all required business licenses in compliance with local, state, and federal law.