Model RFP's

Model RFPs Released

The Investment Adviser Association, along with the CFA Institute Centre for Financial Market Integrity, Investment Management Consultants Association, and the Institute for Private Investors, released three new Model Request for Proposals (Model RFPs) - one for equity investments, one for fixed-income investments, and one for real estate investments.  The Model RFPs are intended to assist smaller institutional investors as well as money managers to help streamline and improve the process of selecting money managers.

Each Model RFP is separated into three sections - firm information, product information, and performance information, with questions that can be customized to fit an investor’s particular needs.  The template asks questions about firm personnel, compliance history and procedures, governance and proxy structure, and brokerage and trading practices.  Model RFP questions also address the specific proposed product, including investment philosophy and process, research, fees, and product performance.

The Model RFP documents are not intended for solicitation of all the information that may be requested in connection with an investment advisory engagement.  These documents are not intended to endorse particular questions or practices and because of different business operations among member firms, no one questionnaire may be appropriate for every manager search.  To the extent practicable, RFPs should be tailored to each investor and to the adviser's business.  In addition, the documents do not constitute, and should not be considered a substitute for, legal or other advice.  For more information, please contact IAA at (202) 293-4222 or iaaservices@investmentadviser.org.

Model RFP – Equity:

Model RFP – Fixed Income:

Model RFP – Real Estate: