asset management RFP
asset management RFP

A Step-by-Step Guide to Responding to an Asset Management RFP

3 minutes, 55 seconds Read

Asset managers are responsible for overseeing portfolios or institutions and individual investors. Asset managers can be individual service providers or firms. Have you ever wondered how institutions or individual investors find reliable asset managers? They do not visit different asset managers physically to find the right one. In this new age of digitization, organizations depend on their websites, procurement portals, tendering platforms, and other digital systems to find reliable asset managers. Usually, investment firms and individuals issue an RFP (Request for Proposal) on digital portals and platforms. Asset managers must know how to respond to RFPs to secure more clients. 

Read on to understand how to respond to an asset management RFP.

Are You Familiar With An Asset Management RFP?

Before understanding how to respond to an RFP, you must know the meaning of RFP. An RFP is a formal document issued by organizations to accept requests from service providers. Organizations issue RFPs for different projects and procurements. Institutional investors, investment firms, pension funds, large-cap organizations, or individuals can issue an Asset Management RFP. The individual or organization issuing an RFP seeks experts to manage their investment portfolios. An RFP issued for asset managers will highlight the organization’s investment strategy, objectives, demands, and other details. The issue also mentions special conditions in the RFP for asset managers to read. RFP is a well-detailed document that allows firms to find asset management firms or service providers.

Fully-drafted RFPs are mostly issued on different platforms and portals. It allows the RFP to reach a maximum number of asset managers in different locations. Asset managers who fit the criteria respond to the RFP. Usually, asset management firms respond to several RFPs and hope the issuer will contact them. 

An asset management firm must recognize the RFP success rate while responding to many RFPs. While responding to RFPs, asset managers mention their strategies, past performance, fees, and other details. The asset manager answers all RFP questions to increase approval chances. When the issue sees an asset manager as the right fit, it will accept the RFP response and connect with the service provider.

Responding to an Asset Management RFP

Many asset management firms will send their proposals for a single procurement. The organization issuing the RFP chooses between the asset managers who have sent their proposals. Issuers who find RFP responses sloppily drafted generally ignore them. Your RFP response must address the asset management needs of the organization. By doing so, you can curb the competition and secure more clients. 

Here is a step-by-step guide to responding to an asset management RFP:

Analyze the RFP First

Many asset managers are quick to respond to RFPs. They must review the RPF carefully and avoid caving into the pressures of doing things fast. It is crucial that you review the RFPs before sending the proposal. It will help you understand the costs, deadlines, and special conditions involved. You must understand the requirements of the issuer to submit effective RFP responses.

Learn More About The Issuer

The top asset management firms invest in due diligence for responding to RFPs. By doing so, they discover the investment philosophies, strategies, culture, and other details related to the issuer. Once they understand the issuer’s preferences, they draft the RFP response accordingly. They try to include the issuer’s philosophy or preferences in the RFP response. It is why the top asset management firms have a high RFP success rate. By learning more about the RFP issuer, you can customize your response.

Draft the Response Carefully

Many asset managers draft RFP responses full of technical or industry jargon. They use several complicated words or phrases in their RFP responses to sound more professional. The idea is to sound like something other than an industry expert while drafting an RFP response. The goal is to connect with the issuer and let them know about your offerings. Use clear and concise language for the same rationale when drafting an RFP response. Also, try to answer all questions and address all sections while drafting an RFP response.

Never Forget to Mention Past Performance

You might have previously managed portfolios of big organizations or wealthy individuals. You might have succeeded with several deals in the past. Let the issuer know through your RFP response. You are increasing the chances of approval by mentioning your track records and accolades in the RFP response. The issuer will get to know that you are familiar with the asset management industry.


Responding to an asset management RFP can be a daunting task. Ineffective responses might hamper your RFP success rate. Asset managers can always partner with third parties to draft effective RFP responses. Draft an effective RFP response right away.

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