Investment Advisory Services for Institutional Funds

The University of North Carolina System Office is seeking proposals from experienced institutional investment advisory firms to provide comprehensive services related to the management, monitoring, and selection of investment funds for its retirement plans. The contract, valued between five and fifteen million dollars, will initially span five years starting January 1, 2026, with an option for a subsequent five-year renewal. The selected firm must possess assets under advisement of at least $250 billion and will serve as a fiduciary and co-fiduciary (under sections 3(21) and 3(38) of ERISA) for core investment menus and target date portfolios, offering expert guidance on investment fund selection, allocation, and glide path setting. The firm will also assist in updating the University’s Investment Policy Statement, conduct research and due diligence on investment options, and produce quarterly performance reports aligned with industry best practices. Additionally, the vendor will provide participant education, investment advice through registered representatives, and support for RFP processes related to plan management services, ensuring compliance with federal and state regulations, including ERISA and disclosure requirements. The procurement emphasizes a "Best Value" approach, considering factors such as technical approach, vendor qualifications, past performance, and pricing, rather than solely focusing on cost. Proposals must include detailed pricing, organizational structure, and approach to fulfilling the scope of work, along with various certifications and forms related to financial stability, HUB participation, and compliance. The vendor will designate contract and customer service managers, participate in dispute resolution processes, and provide transition assistance if the contract is not renewed or is canceled. The contract is structured to promote continuous improvement, transparency, and adherence to legal and regulatory standards, with most services performed at the UNC System Office in Raleigh, North Carolina. All responses are required to be submitted electronically via the North Carolina Vendor Portal by July 1, 2025, with detailed instructions for proposal content, confidentiality, and compliance outlined in the solicitation documents.