Request for Proposals for Investment Advising Services
| Location: | California |
|---|---|
| Posted: | May 6, 2026 |
| Due: | May 29, 2026 |
| Agency: | City of Malibu |
| Type of Government: | State & Local |
| Category: |
|
| Publication URL: | To access bid details, please log in. |
| Bid Title: |
Request for Proposals for Investment Advising Services
|
| Category: | Other Professional Services |
| Status: | Open |
|
Attachment Preview
Request for Proposals for
Investment Advising Services
Proposals must be received no later than 4:00 p.m. on
Friday, May 29, 2026, via email:
Finance@malibucity.org
Renée Neermann
Financial Controller
23825 Stuart Ranch Road
Malibu CA, 90265
Date Issued: May 5,2026
BACKGROUND
The City of Malibu (“City”) is seeking proposals from qualified consultants for investment
advisory services. The City of Malibu (City) is a coastal city located in the northwestern
portion of Los Angeles County, California, along 21 miles of the Pacific Ocean and has a
population of approximately 10,604. The City hosts approximately 15 million visitors a
year. The City is a general law city incorporated under California law in 1991. It operates
under the Council/Manager form of government and is considered a contract city. The
five Members of the City Council are elected at-large and serve staggered four-year
terms, with the Mayor being selected from among the Councilmembers on a rotational
basis. The City offers a full range of municipal services and currently has 113 full-time
employees and 15.58 full-time equivalent part-time employees. The City, organized into
six departments, provides a number of services in-house, including management and
administrative services, public safety, building and safety, community services,
environmental sustainability, planning, public works and engineering.
The City’s Adopted Fiscal Year 2025-26 General Fund Operating Budget for ongoing
expenditures is $89.1 million, and the City’s Total Expenditure Budget is $110.3 million.
For further information, City’s past years ACFRs and adopted budgets are located on the
City’s website at: https://www.malibucity.org/315/Budgets. The City also has adopted
financial policies that govern City investments (attachment 1).
The City is seeking a qualified and experienced firm to provide professional investment
advisory services. The selected advisor will serve in a fiduciary capacity and will be
responsible for delivering objective, independent guidance on investment strategy,
portfolio management, asset allocation, performance monitoring, risk assessment, and
compliance with applicable laws, regulations, and organizational policies. Service may
also include reviewing current investment practices, recommending policy updates,
assisting with the development and implementation of investment objectives, and
providing monthly performance reports. Respondents must demonstrate relevant
qualifications, experience, and the capacity to effectively manage and safeguard public
assets in alignment with established financial goals. Given the City’s current fiscal
position, the City may not be able to utilize all these services in the near term; however,
the City is seeking a firm with the ability to perform the tasks as needed. This scope will
be performed remotely, with virtual coordination and communication as needed to fulfill
the scope of work.
PRELIMINARY SCOPE OF SERVICES
The selected firm shall serve as investment advisor including but not limited to the
following tasks:
Investment Policy, Strategy, and Market Monitoring
1. Perform a comprehensive annual review of the City’s Investment Policy.
2. Assist the City in developing a fully revised investment policy that is modern,
compliant, and tailored to City objectives.
3. Continually monitor market conditions and circumstances and report on any
recommended changes to policies, strategies, and specific positions. Propose
additional updates based on industry best practices, regulatory changes, and
risk‑management considerations.
Financial Forecasting and Long-Term Planning
4. Conduct interest forecasting, including:
a. Short-term rate projections
b. Multi‑year interest rate forecasting
c. Sensitivity analysis to support financial planning and long‑term modeling
5. Provide multi‑year financial forecasting to support budget development, capital
planning, and long‑term fiscal strategy.
6. Support the City in developing, reviewing, and updating fund balance policies,
including minimum reserve requirements, emergency reserves, disaster
contingencies, and stabilization targets.
7. Ensure the City is financially prepared to respond to emergencies or disasters,
including advising on accessible liquidity, short-term borrowing strategies, and
the sequencing of available funds.
Professional Qualifications and Independence Requirements
8. Designation as a Certified Public Accountant or Certified Public Finance Officer is
desirable
9. Be an independent Investment Advisor, registered as such with the Securities
and Exchange Commission (SEC) or the State of California, and must not act as
a broker/dealer.
10. Be independent of any financial institution or securities brokerage firm or shall
fully disclose any relationships with such financial institution and/or securities
brokerage firm relevant to the firm’s relationship with the entity.
11. Have no record of unsatisfactory performance as evidenced by complaints filed
with the SEC or any federal or state agency with jurisdiction over the services
provided by the firm.
PROPOSAL SUBMITTAL GUIDELINES
The City is requiring all proposals submitted in response to this RFP to follow a specific
format. A cover letter guarantee that key personnel, or equally qualified replacements,
will be committed to perform the required tasks throughout the duration of the contract.
A cost schedule shall be included with the proposal submittal. One electronic copy of the
technical qualifications and cost proposal will be required with each submission having
been signed by the company official with the power to bind the company in its proposal.
Technical Qualifications and Cost Proposals shall be submitted electronically to
Finance@malibucity.org, and must be received no later than 4:00 p.m. on Friday, May
29, 2026. Proposals may be withdrawn prior to the established date and time. No
extensions will be granted.
All Technical Qualifications and Cost Proposals will become the property of the City of
Malibu and will be made available for public inspection after an award is made or rejected.
TECHNICAL QUALIFICATIONS/COST PROPOSAL FORMAT
The Technical Qualifications shall be organized in the following sections to facilitate
review by the City. Consultants shall adhere to the page limit stated below. If additional
information is needed, it may be included in the Appendix. However, due to time
constraints, the City may not be able to review the items in the Appendix as thoroughly
as Sections a. through f.
Technical Qualifications shall be limited to a total maximum of fifteen (15) double sided
pages or thirty (30) single sided pages, all letter size. This total page limit may be split
across the Section a through f as deemed appropriate by the consultant. Large format
pages, including 11” x 17” pages, will be counted as two (2) pages.
Technical Qualifications shall include the following:
a. Cover Letter/Executive Summary
Provide a cover letter/executive summary emphasizing the strong points of the
project team, qualifications, and experience. The cover letter/executive summary
shall include the name, address, telephone number, title and signature of the firm’s
contact person for this proposal, and state that the submittal is valid for 150 days.
The cover letter constitutes certification by the consultant, under penalty of perjury,
that the consultant complies with nondiscrimination requirements of the State and
the Federal Government. The cover letter/executive summary shall also include a
statement by the consultant informing the City whether or not they have any
exceptions with the City’s terms and contract conditions stated in this RFP,
including, but not limited to, insurance and the Agreement for Professional
Services, and stating that only those exceptions noted in the consultant’s proposal
will be subject to discussion and negotiation with the City. The cover
letter/executive summary shall be signed by a person with the official authority to
bind the company. An unsigned proposal or one signed by an individual
unauthorized to bind the consultant may be rejected.
b. Experience of Firm(s) and Individuals
Provide a summary of the company’s qualifications, credentials and related past
experience. List up to five (5) experiences consistent with the Preliminary Scope
of Work. Preferably with public agencies. The references should include the start
date of the project and the date of completion for each project.
Include summary descriptions of the company’s (or companies’) and
individuals’ applicable experience, and resumes detailing their experience
with the scope above. Detailed resumes highlighting experience pertinent
to this project should be provided in an Appendix. These resumes will not
be counted in the page limit.
c. Team Organization
Provide an organization chart of your team. Describe its organization, and the
responsibilities and level of commitment of individuals within the team. Identify
team’s “key” personnel members. Describe why each team member is proposed
for their respective positions or roles on the team. Identify who will be the Project
Manager responsible for services requested and interaction with City staff. Provide
the availability (in percentage) of each key personnel that will be assigned to this
contract.
d. Project Understanding and Approach/Methodology
Prepare a summary description of how the consultant will address the Scope of
Work presented above. Briefly describe your firm’s investment management
philosophy, including your approach to managing governmental portfolios.
e. Conflict of Interest
The Consultant shall disclose any financial, business, or other relationships with
the City that may have an impact on the outcome of this contract. The Consultant
shall also list current clients who may have a financial interest in the outcome of
this contract.
f. Exceptions
This section shall discuss any exceptions or requested changes that Proposer has
to the City’s RFP conditions, requirements, and sample contract. If there are no
exceptions noted, it is assumed the Proposer will accept all conditions and
requirements identified in the “Agreement for Professional Services” (attachment
2). Items not excepted will not be open to later negotiation.
g. Cost Proposal
Describe in detail the fee structure you propose for providing engagement
services. The cost proposal is considered a criteria once the final recommendation
This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.
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