Industry Consulting Services

The vendor required to provide 529 industry consulting services include the following:
•    Provide general strategic consulting advice for agency 529. 
•    Make recommendations on program design, and structure. 
•    Provide information and insight on the 529 industry, including other related programs such as children’s savings account (CSA) programs and early wealth account programs.
•    Assist sib by providing 529 plan trends, best practices, and comparative analysis in areas that include, but are not limited to, fees, plan participant benefits, and asset and account growth. Advise sib of new or different strategies that could be employed to increase participation in agency 529. 
•    Offer opinion or strategy on plan name, branding, distribution, and marketing. 
•    Provide additional analyses that may include peer reviews, and feasibility studies and projections. 
•    Provide analysis of program manager’s performance, particularly in marketing and administrative areas using monthly, quarterly and annual data. 
•    Assist in evaluation of marketing and administrative benchmarks.
•    Review disclosure language and keep abreast of regulatory issues on sib’s behalf and provide guidance on a variety of regulatory, legislative or statutory matters and potential impact on the board, plan or program.
•    Participate in the development of request for proposals and the subsequent selection process, and assist with contract negotiations if selection of a new program manager(s) is made or changes are made to existing relationships. 
•    Work with sib’s consultants and program manager(s) as needed. 
•    Participate in meetings with sib staff, program manager(s), fund managers, stakeholders, and outside agencies or research companies, which may include due diligence meetings and annual program reviews.
•    Provide fiduciary and governance training to sib members and staff. 
•    Provide second opinion (sib has a primary investment consultant) on investments, investment performance, and investment menu design, if the selected contractor, or a subcontractor, is qualified. 
•    Attend all sib meetings unless notified otherwise by the sib or its designee. 
•    It is anticipated that sib will meet approximately four times per year. 
•    Attend other meetings pertaining to the 529 industry (securities and exchange commission or others) with or on behalf of sib as needed. 
•    Be available to consult with sib members and the executive director from 8:00 a.m. to 5:00 p.m. pacific time (PT), Monday through Friday. 
•    Respond to the need for telephone consultation within a 24-hour period and be available for meetings with sib with no greater than 10 days’ notice.