25D - AGMT 457 COMP PLAN SVCS - Laserfiche WebLink

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EXHIBIT 1 AGREEMENT TO PROVIDE INDEPENDANT INVESTMENT ADVISORY SERVICES PERTAINING TO THE CITY'S 457 DEFERRED COMPENSATION PLAN THIS AGREEMENT is made and entered into this 5th day of March, 2019 by and between Benefit Financial Services Group, LLC, a California Limited Liability Corporation and SEC registered investment advisor and wholly-owned, indirect subsidiary of Focus Financial Partners ("BFSG" or "Consultant"), and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("City"). RECITALS A. The City desires to retain a consultant having special skill and knowledge in monitoring investments and providing independent investment advice pertaining to the City's 457 Deferred Compensation Plan ("Plan') to assist the City's Plan Administrative and Investment Committee ("Committee") with oversight of the Plan. B. On November 21, 2018, City issued a Request for Proposal ("RFP") No. 18-102 for independent investment advisory services pertaining to the Plan. There were four proposals submitted in response and those proposals were evaluated by the Committee. Consultant was selected as the most qualified vendor. C. Consultant represents that it is able and willing to provide the requested independent investment advisory services to assist the Committee in monitoring the Plan as outlined in Consultant's proposal dated December 19, 2018 and submitted in response to City's RFP. D. In undertaking the performance of this Agreement, Consultant represents that it is knowledgeable in its field and that any services performed by Consultant under this Agreement will be performed in compliance with such standards as may reasonably be expected from a professional consulting firm in the field. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions hereinafter set forth, the parties agree as follows: 1. SCOPE OF SERVICES Consultant shall perform independent investment advisory services to assist Committee in monitoring the Plan as set forth in the scope of services, attached hereto as Exhibit A and as outlined in Consultant's proposal dated December 19, 2018 submitted in response to City's RFP incorporated by reference as though fully set forth herein in its entirety. 2. COMPENSATION a. City agrees to pay, and Consultant agrees to accept as total payment for its services pursuant to this Agreement, a flat fee of $28,000 a year. The total sum to be expended under this Agreement shall not exceed $281,000 annually. For the term of this Pagel of 9 25D-5