Title
Investment Consulting Services Contract - RFP PS-25-0542 - Request for Award (Ordinance S-52096) - Citywide
Description
Request to authorize the City Manager, or his designee, to enter into a contract with Sellwood Investment Partners LLC to provide financial and investment advisory services for the Long Term Disability (LTD) and the Medical Expense Reimbursement Plan (MERP) Trust Funds for the Finance Department. Further request to authorize the City Controller to disburse all funds related to this item. The total value of the contract will not exceed $597,672.05.
Report
Summary
This contract will provide financial and investment advisory services to the Board of Trustees ("the Board") and will help the Board maintain and invest the Trust Funds of the LTD Program and the MERP Program in accordance with the Boards' trust agreements. Furthermore, the investment consultant will serve as a fiduciary for the Trust Funds and meet periodically with the Trustees and City staff, as requested. The services provided under this agreement will help achieve a rate of return that produces sufficient earnings over time to provide eligible employees and elected officials as determined by the City with the benefits defined by the LTD and MERP Programs.
Procurement Information
A Request for Proposal procurement was processed in accordance with City of Phoenix Administrative Regulation 3.10.
Two vendors submitted proposals deemed responsive and responsible. An evaluation committee of City staff evaluated those offers based on the following criteria with a maximum possible point total of 1,000:
Experience (0-350 points)
Method of Approach (0-300 points)
Capacity (0-200 points)
Price (0-150 points)
After reaching consensus, the evaluation committee recommends award to the following vendor:
Sellwood Investment Partners LLC, 934 points
Contract Term
The contract will begin on or about August 1, 2025, for a five-year term with two one-year options to extend.
Financial Impact
The aggregate contract value will not exceed $597,672.05. There is no impact to the General Fund. Fees paid under this Contract will be paid directly out of the Trust Funds.
Department
Responsible Department
This item is submitted by City Manager Jeffrey Barton and the Finance Department.