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RFP Configuration

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Overview:  

This article explains how to complete the RFP Configuration tab when creating a new Opportunity as an Advisor.  

Scope:  

The RFP Configuration settings define the core details of the Opportunity. The information entered here will serve as the main criteria against which vendor responses are evaluated.  

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Instructions/Attachments

Data entered on this screen will appear in the RFP Review report section

Instructions are key information for Providers on what you are looking for in their proposal. Items such as treatment of Advisor Fees, scope of services desired, and any other important information not included elsewhere in your RFP should be included here.

  1. Full Pricing or Required Revenue Pricing will display based on your selection made on the Opportunity Basics screen. You can change this here if necessary.
  2. Choose Bundled, Unbundled, or Either for your Administrative Treatment option.
  3. Choose to Include, Not Include, or N/A for your preference on Provider's including Advisors Compensation in their pricing proposal
  4. Detail Instructions is for entering instructions for which Providers should base their proposals off of. The more information you provide here, the more effectively the proposal sent will be.
  5. Include any Attachments you would like sent to all invited Providers (e.g. 5500, existing plan details).
  6. Save your Instructions for future Opportunities by saving them as a template. In the top-right corner there is a drop down box for Instructions Templates.  Save it by clicking on Save As Template, entering a Template Name, and click Save.

An alternative to entering instructions in the Detailed Instructions box is to create an instructions document (in Word for example), upload the document and in the Detailed Instructions box state "Please see attached "Instructions" document for all specifications about this request."

Standard Questions

Data entered on this screen will appear in the Provider Response, Provider Response Summary, and RFP Review report sections.

Standard Questions allows you to utilize our existing Provider Capability database in your RFP. This reduces the need for creating a long list of Custom Questions in order to ensure all of your Opportunity's key requirements are addressed as Provider Responders can respond using either the Product Default Answer or enter a Custom answer if it would be more appropriate for your opportunity.

  1. Add Standard Questions by selecting the (+) icon next to the Standard Question in the Available Standard Questions list. The selected Standard Question will be added to the Standard Question List above.
  2. You can filter your options down by searching using the open text search box for a part of the question name, or by using the Category Filter drop-down box and choosing a category.
  3. You can remove questions by selecting the minus (-) icon.
  4. You can save templates of your selected Standard Questions by clicking the Save as Template button.
  5. Use templates by selecting them from the Template drop-down.
    • The Template list here is linked with your Screening Criteria template list.
  6. Click SAVE or NEXT to save your changes.

You can re-arrange the order of how Standard Questions appear online and in reports by clicking on the question (the question will highlight) and then using the /\ and \/ arrows to the right to move questions up or down.

Custom Questions

Data entered on this screen will appear in the Provider Response (Custom Questions) and RFP Review report sections.

Custom Questions are for any unique or client specific questions that are not already answered in our Standard Questions database.  Typical uses include requesting elaboration on a key feature a Provider has or inquiring about specific service offerings based on client location or demographics (e.g. Can you provide education in all the client locations?).

  1. Create Custom Questions by scrolling to the Create Custom Question box at the bottom of the page, entering your question in the text box, and clicking the ( + ) icon. This will add your Question to the Current Question List above.
  2. Add Custom Questions that you have created previously by clicking the ( +)  icon next to the Custom Question in the Available Questions list. The selected Custom Question will be added to the Custom Question List above.
  3. You can search the Available Questions list by entering a phrase in the open-text search box. You can remove questions by clicking the minus ( - ) icon.
  4.  Save your Custom Questions for future Opportunities by saving them as a template. At the top of the screen there is a drop-down box for Templates.  Save it by clicking on Save As Template, entering a Template Name, and click Save.

You can re-arrange the order of how Custom Questions appear online and in reports by clicking on the question (the question will highlight) and then using the /\ and \/ arrows to the right to move questions up or down.

Line-Up Configuration

If the opportunity is running a Required Revenue quote type RFP/Benchmark, you will not be able to enter a Line-Up.

Line-Up Configuration is for setting up the Requested Line-Up. The Requested Line-Up is distributed to Providers for purposes of mapping the Requested Line-Up to the Provider's Proposed Line-Up that they will submit with their proposal.

  1. If you setup the Incumbent Line-Up it will appear in the left-hand side Incumbent Line-Up column
  2. The Requested Line-Up column starts out empty. To copy the Incumbent Line-Up to the Requested Line-Up, click the orange COPY button between the two lineup areas.
  3. If you need to create a Requested Line-Up (If you did not enter an Incumbent Lineup) you can do so by clicking the Search For Fund button. Instructions on the search for fund pop-up are below.
  4. To enter fund assets, click in the text-box next to each fund name and enter the dollar amount.
    1. Asset Categories and the Grand Total rows will display dollar totals to help in data entry.
  5. Click SAVE or NEXT to save your changes.

Search For Fund Tutorials

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Fund Search

  1. The Fund Search option has filter options to aid you in locating funds.
  2. Fund Type allows you to search within our various fund universes.
  3. Provider Filter allows you to use Provider Product Platforms as search filters (e.g. John Hancock’s Separate Account Platforms)
  4. Keyword Search allows you to use either the Ticker Symbol or portions of the Fund Name to locate funds.
  5. Click the Magnifying Glass icon to start your search.
  6. When your results populate, click on the Plus (+) Sign next to the fund to add it to the Current Selection list above

When you are finished entering funds using Fund Search, you will need to enter fund balances in the Requested Line-Up column. Be sure to click SAVE at the bottom of the screen when you are finished!

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Custom Fund

This feature can be used to add any fund or investment option that is not available in our fund database.

  1. The four required fields are Fund Ticker, Fund Name, Gross Expense Ratio, and Net Expense Ratio. All other fields are optional. 
    • Fund Ticker and Fund Name can be entered as you wish, for example for a fund named "Stable Value Fund" you may wish to enter "SVF" for the Fund Ticker and "Stable Value Fund" for the Fund Name.
  2. Expense Ratio information is needed in order to accurately calculate pricing.
  3. If Returns Data is entered it will appear in the Investment Evaluation report section.
  4. When finished click Add. This will add the fund to your Current Selection list above.

When you are finished entering funds using Custom Funds, you will need to enter fund balances in the  Requested Line-Up column. Be sure to click SAVE at the bottom of the screen when you are finished!

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Ticker List

This feature can be used to enter Ticker Symbols manually to build your Incumbent Lineup.

  1. Enter Ticker Symbols separated by spaces or commas (do not enter spaces following commas between tickers). Cutting and pasting fund ticker lists from Word, Excel, or from emails will also work.
  2. When done entering tickers click the Magnifying Glass icon.
  3. The system will confirm your Ticker symbols were found. If not they will appear in RED.
  4. Click Add to Lineup to add the funds to your Current Selection.

When you are finished entering funds using Ticker List, you will need to enter fund balances in the Current Selection fund list above. Be sure to click SAVE at the bottom of the screen when you are finished!

 

Candidate Configuration

Candidate Configuration is where you distribute your RFP/Benchmark request to Providers as well as where you can configure recipients and make your request anonymous.

  1. Check the Make Anonymous check-box to hide the Plan Name and Company Information on the Plan Basics screen from the Provider.
  2.  Click on the Default link under the Fund Lineup column to customize the Requested Lineup for a specific provider.
  3. Click on the orange Envelope icon in the Notifications column button to the far right of any Provider candidate to customize the email message and the recipients of the invite.
  4. Check / Un-Check the box for the Provider(s) you wish to invite to respond to the RFP/Benchmark in the Invite column. When finished making your selection click INVITE. The Invited column will update with a date when the notification has been sent

Once a Provider has been invited they cannot be un-invited!

  • If you wish to remove a Provider completely from your report, you can un-check the Display in Reports check box for the Provider you wish to remove.
  • If you add an additional Provider to your RFP after previously sending invitations and need to send a new invite, only the newly added Provider(s) will receive invite notifications. Previously invited Providers will not receive duplicate notifications.

Candidate Notifications

This is the Candidate Notification configuration screen. This appears when clicking on the orange mail icon in the Notifications column for a Provider on the Candidate Configuration screen.

  1. Default RFP Recipients will appear in the list at the top of the screen. These cannot be removed and are set by the Provider.
  2. Click Add Recipient to add other individuals to the invitation (e.g. your local rep).
  3. You can select an Existing User from the dropdown box, or manually add an individual in the New User section.
  4. To add a New User enter the First Name, Last Name, and Email Address of the individual you wish to add. Click Add when you are done. The individual will be added to the RFP Recipients list.
  5. You can edit the body of the Email Message in any way you would like.
    • Different messages can be set up for different providers. This is useful for communicating specific information to an individual Provider Candidate.
    • If you do change the email message be sure to include the Opportunity Name and Due Date as these are key pieces of information for the Provider.
  6. Click OK to save your changes or Cancel to close the window and not save changes.

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