RFP Consultants

What is an RFP?

Thu, 29 Apr 2021 17:18:50 GMT

· An RFP is a Request for Proposals seeking responses from Financial Service Providers qualified to meet your needs ·

A Request For Proposals ( RFP) is sometimes confused with:

o Invitation for Bids

o Request for Quotation (RFQ)

o Request for Tender (RFT)

o Request for Qualifications (RFQ)

o Request for Information (RFI)

Many RFPs are mandated to establish what is new and available to satisfy an organization's needs. The financial world has changed radically in a very short time. It has become more complex; providers have become more sophisticated in the services they can bring to bear. It takes a seasoned professional to walk you through this changed world and get you the most appropriate services. This is where RFP Consultants' training and experience will help.

An RFP presents your company to the world, so it is important to write it well.

A clear, concise summary of who you are and what you want will lead to excellent Proposals.

Good proposals lead to responses that are accurate, well priced and lead to cooperative, mutually satisfying working relationships.

· Critical questions whilst developing an RFP:

o What information should you divulge to get the best responses?

o What do you need to ask potential suppliers to be able to rate and evaluate them?

o Who can write the RFP and consolidate the responses so that you can make an informed decision?

o Who has the knowledge and the time to do all this??

Aye, there is the rub says Hamlet...

What are the Financial Services in Canada?

Wed, 28 Apr 2021 17:23:11 GMT

The “four financial pillars” in Canada were consolidated in 1992 but still provide a useful framework when analyzing our requirements.

Banking , including

o cash management

o credit, short- and long-term

o point of sale services

o foreign exchange

Investments , particularly

o liquidity

o risk management

o monetization

o collateralization

Insurance , including

o personal liability

o corporate liability

o life insurance

o Employee benefits and group plans

Trust , from both the personal and the corporate point of view:

o issuing debt or equity

o transitioning of estates

o asset relocation

o safeguarding others’ assets

Tax Management

Of concern to any taxable entity, your Investment , Insurance and Trust advisors are critical in minimizing your tax exposure.

Even not-for-profits and charitable institutions need to watch their "Ps and Qs" in the ever-changing tax arena.

What is an IPS?

Wed, 28 Apr 2021 02:29:46 GMT

· An IPS is an Investment Policy Statement which summarizes the client's financial requirements ·

The IPS is usually prepared by an experienced investment manager in conjunction with their client that outlines:

who the client is;
what they have, in terms of:
lifestyle
income sources and amounts
their tax situation;
their financial risk tolerance (how well they handle the uncertainties of the financial markets); and
what the clients expect to do with their savings over time.

What is WRONG with this RFP?

Thu, 15 Apr 2021 18:28:20 GMT

Here is a real-life RFP for Financial Services with suggestions for improvement.

Identifying details have been disguised.