Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Louise F. Rogers, Chief, San Mateo County Health
Lisa Mancini, Director, Aging and Adult Services
Subject: Agreement with The Brauner Company for Financial Advisor Services
RECOMMENDATION:
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Adopt a resolution authorizing an agreement with The Brauner Company to provide financial advisor services for conserved clients of the Public Guardian and decedent estates of the Public Administrator, for the term of July 1, 2020 through June 30, 2023, in an amount not to exceed $875,000.
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BACKGROUND:
Aging and Adult Services (AAS) operates the Public Guardian (PG) program, which acts under the authority of the Superior Court to manage the estates of conserved individuals who are deemed by the court to be unable to care for themselves and/or manage their financial affairs. AAS also operates the Public Administrator (PA) program, which is regularly appointed by the Superior Court to administer the estates of deceased County residents when there is no one available to take on this responsibility. The PA's responsibilities include safeguarding, managing, and distributing the assets of such estates to heirs and beneficiaries. The financial advisor services required by the PG and PA include providing a wide range of investment options and information on the cost basis of assets for tax reporting, as well as preparing reports for court and monitoring purposes. For PG clients, the services also include financial planning and appropriate estate planning.
In 2016, The Brauner Company was selected to provide financial advisor services through a Request for Proposal (RFP) process conducted by AAS. The contract term was January 1, 2017 through June 30, 2020.
DISCUSSION:
In March 2020, AAS released an RFP for financial advisor services and The Brauner Company was the only responder. An RFP Evaluation Committee comprised of individuals from AAS Adminis...
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