Financial Advisor Services

The vendor is required to provide for financial advisor services for clients of the public guardian and conservatorship program and the estates of the public administrator program.
1. Account set up
• Process the initial paperwork for each account; establish a brokerage account; set up regularly scheduled withdrawals when requested; make changes to withdrawal schedules when needed; provide special draws when needed without penalty; acquire values for stocks and bonds for yearend accountings; facilitate the transfers of accounts from other firms and consolidate them into the brokerage account;
• Provide customized reports when requested, including court accounting; date of death, and tax reports; and process the necessary paperwork to close an account when instructed.
• Accept all investments, regardless of the dollar amount or asset type.
• Provide a competitive rate of return commensurate with appropriate risk and suitability.
• Liquidate account if the account value falls under $100, 000 at the request of the ads.
2. Provide independent broker advice
• Provide independent broker advice not limited to any parent company, with a wide range of investment options including flexibility for withdrawals, and no sales or purchase commissions to the client or estate.
3. Cost basis
• Provide information on cost basis of assets for income tax purposes on behalf of aging and disability services (ads) estate management accounts.
• Provide information on the cost basis of transferred assets for income tax purposes.
4. Consultation on selected cases
• Provide, at no additional cost, consultation on selected cases as part of the estate plan and for tax consequences.
• These selected cases would be other public guardian clients or public administrator estates where accounts are not set up with the contractor.
5. Statements and reporting
• Provide monthly, quarterly, yearly and biennial statements to ads estate management, including a monthly summary sheet as defined by estate management.
• Some statements may need to be customized to specific time periods as defined by the superior court.
• Statements shall include performance data, portfolio appraisals, realized gains and losses, fair market value, income and expenses, account transaction history, management fee summaries and account bookkeeping history.
• There may also be special closeout requests to reflect zero balance in the statement.
• monthly report for ads internal use including but not limited to: cash account, market value, annual fee (management fee), annual withdrawals, and set up of the account (percentage of stocks/bonds).
• Provide a quarterly performance history report that compares the account quarter-by-quarter and performance to various indices.
• Statements and reporting will be provided at no additional fee to the client.
6. Yearly rebalance
• Provide and process a yearly rebalance of all accounts as authorized. work with ads on anticipated withdrawals and provide investment options to ads.
7. Trainings
• Provide at least one training (minimum of three hours) per year for ads staff on investment strategies and factors for considering investment options.
8. Medallion guarantees
• Provide medallion guarantees at no cost for paperwork related to public guardian clients or public administrator estates.
9. Customer service
• Provide easy access to services and high-quality customer service including but not limited to: timely updates on requested actions on client accounts and updates regarding the financial health of our clients’ accounts during turbulent times.
10. No dob requirement
• No dob requirement (or any other personal information) of the authorized signer (county employee) for the public guardian/public administrator will be required by the contractor or the parent company when opening accounts on the behalf of public guardian clients or public administrator estates and when completing paperwork.
11. Performance measure
• The financial manager should aim to exceed the benchmark by at least 1% to 3% annually depending on the strategy and market conditions.
- Contract Period/Term: 1 year