The purpose of the Request for Proposal (RFP) is to solicit sealed proposals to establish a contract through competitive negotiations for the procurement of marketing and advertising services to promote and grow The Education Plan – New Mexico’s direct-sold 529 education savings program (the “Plan”). This RFP is for marketing and advertising in the state of New Mexico.


The New Mexico Education Trust Board (“NMETB”) was established pursuant to the Education Trust Act (New Mexico statute: NMSA 1978 § 21-21K-1 through 21-21k-47NMSA (the “Education Trust Act” or the “Act”), which gives the Board the authority to promulgate rules to carry out the Act; contract with one or more financial institutions to manage the education trust fund and the separate trust accounts and do those things necessary or convenient in accordance with the Education Trust Act to carry out the provisions of the Act. The Act also creates the education trust fund (the “Trust”). The NMETB administers the Trust. It does not receive State appropriations.

Effective July 1, 2015, the NMETB retained OFI Private Investments Inc. and Oppenheimer Funds Distributor Inc. (collectively “OFI”) as program manager to provide investment, marketing, administrative and distribution services for the Plan.

In light of the corporate acquisition of OFI, in January, 2019 the NMETB and OFI entered into a Termination Agreement that aligns with the Plan conversion to a new program manager. Under the terms of the new program manager contract, the NMETB will take responsibility for advertising and marketing of the Plan.

During the next several months, there will be a conversion of accounts and assets to the new program manager. A new marketing plan and budget must be created. As of March 31, 2019 the Plan had a total of 22,964 accounts and $558 million in assets. Roughly half of these assets and accounts are for the benefit of New Mexico residents.

Scope of Work:

·         NMETB seeks a well-qualified, full service marketing and advertising agency to provide comprehensive integrated marketing and advertising services to further build on The Education Plan brand in order to increase New Mexico residents’ awareness of, engagement with and creation of accounts in the Plan. The primary measure of success will be the number of new accounts generated in New Mexico attributable to the advertising and marketing services.

·         This scope includes creative development, production, media placement, and ongoing brand enhancement, strategic partnerships and outreach. Please see the Specifications section of this document for detail on these matters and recommended marketing spend mix. The marketing mix includes traditional print, television, radio, billboard display, sponsorship of events, strategic partnerships and initiatives and other similar efforts within the state of New Mexico.

·         The successful firm will be expected to also coordinate New Mexico initiatives related to digital advertising, email marketing and social media with NMETB’s web design, analytics, digital marketing and advertising firm. These matters will be the subject of a Request for Proposals to be issued shortly. Website development and maintenance, analytics, public relations, and national advertising and marketing are NOT within the scope of this RFP.

·         The approximate annual budget for the first year of the contract is $500,000. The contract resulting from this RFP will run through June, 2020 with the potential for annual renewals at the discretion of the NMETB.

Due Date:

July 8th, 2019. 


The Education Trust Board of New Mexico

1516 Paseo de Peralta

Santa Fe, NM 87501

Agencies with relevant experience includes Ruder Finn And Finn Partners.

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