Investment Management and Advisory Services

Post InformationPosted At:Wed, Nov 30, 2022 10:41 AMSealed Bid Process:Yes (Bids Sealed / Pricing Sealed)Private Bid:No1. Background and Introduction1. SummaryThe City of Palm Desert (CITY) is requesting proposals from qualified firms to provide investment management and advisory services in a comprehensive manner to handle the day-to-day administration of the City’s investment portfolio and provide investment advisory services to help manage the City’s investment portfolio. The level of assets to be managed is approximately $300 million. 2. BackgroundThe City is a charter city in the State of California. The City is a thriving community of approximately 50,000 full-time and 32,000 seasonal residents. It is located in the Coachella Valley in eastern Riverside County, part of the low desert region of Southern California. The City features big-city resources in a friendly, small-town setting, offering first class educational opportunities, safe and clean streets, as well as plentiful

shopping and community events. Palm Desert is considered the geographical, educational, and retail center of the Coachella Valley.Incorporated in 1973, the City operates under a council-manager form of government with a five-member City Council elected at large. Each council member serves a four-year term. The City Council meets on the second and fourth Thursdays of the month at Palm Desert City Hall, 73-510 Fred Waring Drive. 3. Contact InformationJames BoundsFinance Supervisor 73510 Fred Waring Drive Palm Desert, CA 92260 Email: jbounds@cityofpalmdesert.orgPhone: (760) 776-6303Department:Finance Department4. TimelineThe above scheduled dates are tentative and City retains the sole discretion to adjust the above schedule. Nothing set forth herein shall be deemed to bind City to award a contract for the Services and City retains the sole discretion to cancel or modify any part of or all of this RFP at any time.Release of Request for Proposal:November 30, 2022Last Day to Submit Questions for Clarification:December 14, 2022, 2:00pmClarifications Issued by City on or before:December 29, 2022, 2:00pmDeadline for Receipt of Proposals submitted on or before:January 6, 2023, 2:00pmNotification of Finalist(s):January 11, 2023Interview of Finalist(s):January 18, 2023Notification of Intent to Award:January 20, 2023Authorization to Negotiate Contract:January 25, 2023