Inter-Departmental Correspondence

Health System



May 14, 2010


June 22, 2010







Honorable Board of Supervisors


Jean S. Fraser, Chief, Health System
Lisa Mancini, Director, Aging and Adult Services



Agreement with The Brauner Company



Adopt a Resolution:


Authorizing the President of the Board to execute an Agreement with The Brauner Company for financial advisor services for conserved clients for the term July 1, 2010 through June 30, 2013, in the amount of $750,000; and



Authorizing the Chief of the Health System or designee to execute contract amendments which modify the County's maximum fiscal obligation by no more than $25,000 (in aggregate), and/or modify the contract term and/or services so long as the modified term or services is/are within the current or revised fiscal provisions.



The Aging and Adult Services (AAS) Public Guardian/Conservatorship Program serves frail elderly, physically disabled and mentally disabled residents who are substantially unable to provide for their own personal needs of health, food, clothing, or shelter and/or are unable to manage their financial resources or resist fraud or undue influence.


The Public Guardian, acting under the authority and direction of the Superior Court, may be appointed for the person, for the estate, or for both. The general duties of a Conservator of the person include arranging for the person’s care and protection, deciding where a person will live, and making arrangements for health care, meals, clothing, personal care, and transportation. The general duties of a Conservator of the estate include managing the person’s finances, marshalling and protecting assets, collecting all income due to the person, paying all just debts, making investments as appropriate, and representing or arranging representation in all legal matters.



The Bruaner Company participated in and was selected through three consecutive Request for Proposals (RFP) processes to provide financial advisor services for AAS Public Guardian clients since 1999. Experience with The Brauner Company over the last decade has been excellent. This Contractor has developed a superior understanding of conservatorship needs and requirements and has earned an exceptional reputation with the Public Guardian’s Office. A fourth RFP process for financial advisor services for the term July 1, 2010 through June 30, 2013, in which The Brauner Company was the sole agency to submit a proposal, was completed in February 2010. Financial advisor services include a wide range of investment options, information on cost basis of assets for income tax purposes, reports for court and for monitoring purposes, and consultation on selected cases as part of a client’s Estate Plan.


In consideration of the services provided as described above and according to local court-established commissions for sales, The Brauner Company will be paid directly from clients’ portfolios a fee based on an annual percentage rate of one percent (1%) of the value of assets under management. The fee is calculated monthly and is deducted directly from the clients’ accounts. The average monthly asset amount currently under management is $15 million.


Risk Management has reviewed and approved this Agreement. County Counsel has reviewed and approved the Resolution and Agreement as to form. The Contractor has assured compliance with the County's Contractor Employee Jury Service Ordinance, as well as all other contract provisions that are required by County ordinance and administrative memoranda, including but not limited to insurance, hold harmless, non-discrimination and equal benefits


Services provided by The Brauner Company contribute to the Shared Vision 2025 outcome of a Healthy Community by assisting conservators to optimize management of Public Guardian clients’ assets. It is anticipated that 99% of Public Guardian cases will result in no fiduciary claims.


Performance Measure:


FY 2009-10

FY 2010-11

Percentage of cases managed by the Public Guardian in which no fiduciary claims were filed against the Aging and Adult Services Division





The term of the Agreement with The Brauner Company is July 1, 2010 through June 30, 2013. The amount of the Agreement is not to exceed $750,000 for the three-year term. Funds for this Agreement are reimbursed directly from conserved clients’ estate assets. There is no Net County Cost associated with this action.


Exhibit A

Request for Proposals (RFP) Matrix


General Description of RFP

Financial Advisor Services


List key evaluation criteria

    Prior experience

    Demonstrated competence in performing the services required

    Ability to document services, provide reports, and maintain records

    Flexibility and variety of investments


Where advertised

Daily Journal: once on a weekday and once on a weekend


In addition to any advertisement, list others to whom RFP was sent



Total number sent to prospective proposers



Number of proposals received



Who evaluated the proposals

Controller’s Office

County Manager’s Office

Health System Administration


In alphabetical order, names of proposers (or finalists, if applicable) and location

Brauner Company, The, Redwood City, CA